Find out more on Debt Consolidation Credit Counseling In Phoenix Now!
Thursday, January 8, 2009
The Total Visa is a bad credit unsecured card. It was designed for individuals with blemishes on their credit report.
It reports to all the major bureaus monthly. By making on time monthly payments you can start to build a positive payment history.
This is very important when your score is calculated. Your utilization ratio will determine another large part of your score.
This compares the amount of debt you have versus unused credit. It is how the bureaus determine if you can afford a new credit line.
They estimate that your utilization ratio and payment history make up to 80% of your score. It will help if you have unused credit.
However it is still a priority to remove any negative marks from your report. This will help to show a positive payment history.
Your card will have an initial $250 limit and a 19.92% APR. It is issued by Plains Commerce Bank and has an annual fee of $48.
They offer a 19.92% cash advance APR which is actually lower than many prime credit cards, in case of a financial emergency. They do give quarterly credit limit increases.
With our current economic conditions there has been a wave of good credit cards raising their APR's to 20% and higher. They have been doing this without cause, meaning the customer did not pay late.
Congress has responded and made new laws to prevent this in the future. However these laws will not go into effect until 2010. Additionally we have seen lower limits and much more stringent approval requirements.
Your card will have fraud protection and free online account access. Your card is accepted everywhere Visa is.
With responsible use a new credit line can help a damaged score. However with irresponsible use it can damage your score even more.
This is why we think it is important for you to look at your budget and what you can comfortably afford to spend before you apply for any new credit.
It reports to all the major bureaus monthly. By making on time monthly payments you can start to build a positive payment history.
This is very important when your score is calculated. Your utilization ratio will determine another large part of your score.
This compares the amount of debt you have versus unused credit. It is how the bureaus determine if you can afford a new credit line.
They estimate that your utilization ratio and payment history make up to 80% of your score. It will help if you have unused credit.
However it is still a priority to remove any negative marks from your report. This will help to show a positive payment history.
Your card will have an initial $250 limit and a 19.92% APR. It is issued by Plains Commerce Bank and has an annual fee of $48.
They offer a 19.92% cash advance APR which is actually lower than many prime credit cards, in case of a financial emergency. They do give quarterly credit limit increases.
With our current economic conditions there has been a wave of good credit cards raising their APR's to 20% and higher. They have been doing this without cause, meaning the customer did not pay late.
Congress has responded and made new laws to prevent this in the future. However these laws will not go into effect until 2010. Additionally we have seen lower limits and much more stringent approval requirements.
Your card will have fraud protection and free online account access. Your card is accepted everywhere Visa is.
With responsible use a new credit line can help a damaged score. However with irresponsible use it can damage your score even more.
This is why we think it is important for you to look at your budget and what you can comfortably afford to spend before you apply for any new credit.
About the Author:
For more about the Total Visa or for a free credit repair consultation visit us or call 1-800-253-3735, or for more about Credit Card Applications.
posted by Credit Counseling at
10:31 AM
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