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Thursday, January 15, 2009
The Tribute MasterCard is a bad credit unsecured card. It is frequently used to rebuild a low credit score.
This card is issued by the First Bank of Delaware. This bank has been in the sub prime lending business for years.
Your card can be used to improve your credit score. It will create a positive payment history on your credit by making your on time monthly payments.
When your score is calculated this is one of the biggest influences on your score. In addition this will help to improve your ratio of available credit to debt. This ratio is how much debt you have compared to how much credit you have that is not being used.
There will be an annual fee; however every sub prime card carries an annual fee. You will have an APR of 19.50% which is standard for these cards.
Your initial credit limit will be $300. Your card does have monthly credit reporting to all three major bureaus.
The First Bank of Delaware is committed to helping consumers so they have created an additional Tribute MasterCard for those with a very low score. When this card is issued instead of a $300 credit limit it comes with a $70 credit limit.
This card will report monthly to all three bureaus and works just like the card with a $300 limit. You will be eligible for limit increases. There are no finance charges and no account set up fees for both cards.
There is no application fee and you have free online account access. In addition there is no minimum income requirement and easy approval.
With both the $300 credit limit and $70 credit limit card you will be eligible to receive periodic credit limit increases. In addition you will have a 30 second online decision when you apply.
For your credit to benefit the most from your card you should keep your balance at 20% of your limit. This will help because it shows that you do use your card and you are using it responsibly.
In sum if you need a second chance with credit then we do suggest the Tribute MasterCard. It can help your score by improving your available credit to debt and creating a positive payment history.
This card is issued by the First Bank of Delaware. This bank has been in the sub prime lending business for years.
Your card can be used to improve your credit score. It will create a positive payment history on your credit by making your on time monthly payments.
When your score is calculated this is one of the biggest influences on your score. In addition this will help to improve your ratio of available credit to debt. This ratio is how much debt you have compared to how much credit you have that is not being used.
There will be an annual fee; however every sub prime card carries an annual fee. You will have an APR of 19.50% which is standard for these cards.
Your initial credit limit will be $300. Your card does have monthly credit reporting to all three major bureaus.
The First Bank of Delaware is committed to helping consumers so they have created an additional Tribute MasterCard for those with a very low score. When this card is issued instead of a $300 credit limit it comes with a $70 credit limit.
This card will report monthly to all three bureaus and works just like the card with a $300 limit. You will be eligible for limit increases. There are no finance charges and no account set up fees for both cards.
There is no application fee and you have free online account access. In addition there is no minimum income requirement and easy approval.
With both the $300 credit limit and $70 credit limit card you will be eligible to receive periodic credit limit increases. In addition you will have a 30 second online decision when you apply.
For your credit to benefit the most from your card you should keep your balance at 20% of your limit. This will help because it shows that you do use your card and you are using it responsibly.
In sum if you need a second chance with credit then we do suggest the Tribute MasterCard. It can help your score by improving your available credit to debt and creating a positive payment history.
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For more about the Tribute Credit Card we also suggest the Orchard Bank MasterCard for a review visit us.
posted by Credit Counseling at
11:52 PM
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