Credit

Mar 28 2017

The Easiest Credit Cards to Get #credit #file

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The Easiest Credit Cards to Get

Looking to establish or re-establish your credit but not sure where to apply?

Here are some of the easiest credit cards you can get.

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Retail Credit Cards

A store credit card has lower credit criteria than a traditional credit card and tends to be easier to get. Plus, you often receive a discount on your first purchase after signing up for the card, plus extra rewards and offers when you shop at that retailer.

A key downside to a retail credit card is that interest rates tend to be higher. So be sure to charge only what you are likely to pay off each month. Otherwise, you will pay the price in hefty finance charges. Even making a couple of small purchases a month on needed items for your home will help you to establish and build your credit if that’s your goal. So spread out your purchases over a number of months and build your credit record carefully while keeping finance charges at bay.

Gas Credit Cards

A gas credit card is a specialized type of retail credit card. A gas credit card allows you to earn rewards for buying gas, as well as for other purchases. These cards may also offer a discount at the pump in lieu of rewards. These cards vary in their terms and conditions, but many offer a lower limit when you first become a cardholder, which is why they may be easier to get.

The trick is building credit through a series of small purchases. So fill up your tank once or twice a month and pay your bill in full each month. Doing so will you help to establish a positive payment record. For credit-building purposes, avoid spending more than 10% of your credit line in any given month.

How Long Will It Take to Pay Off Your Credit Cards? Plug in your credit card details and we’ll tell you when you can expect to be debt-free. Plus, explore ways to pay it down faster!

Secured Credit Cards

With a secured card you are required to make a cash deposit and this deposit secures you a line of credit. Your credit line is the amount of your deposit minus any fees charged by the card issuer.

You can use your secured card anywhere you can use a traditional unsecured credit card.

After a year or so of steady, on-time payments your credit may improve enough that you may be able to qualify for an unsecured credit card.

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Written by CREDIT


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