Every once in a while, you will get an offer in the mail that seems hard to pass up: a premium credit card. These cards often offer extraordinary benefits and promises that may entice you into signing up with the creditor; however, these benefits may precede any fine print that may make the card not worth it. These credit cards will often have fancy adjectives attached to them: gold, premium, platinum, etc. Beware of the benefits of these cards as marketers and creditors will use any language to get you to sign up for that card.
One major thing these credit card companies may not mention about these “premium” lines of credit is the fact they will most likely have an annual fee of some kind. When you receive an offer for one of these cards, make sure there’s no annual fee attached to them as there are plenty of creditors out there who offer credit cards with no annual fees (but have fewer “benefits”). These annual fees can range from $70 to $500 depending on the creditor and the premium benefits the card offers.
Every credit card out there touts some kind of benefit or perk for using that card, but a lot of times these cards may only benefit you if you use the card in a certain way or with particular retailers and outlets. For example, a lot of “travel” cards will only benefit the person who extensively travels. If you’re not traveling; then, what’s the point of getting a travel card? No point in paying an annual fee for such a card; on the other hand, if you travel a lot–especially with a certain airline–then the perks might benefit you in the long run. Just keep in mind the benefits the card offers and if those benefits help you in any way.
Another touted perk that a lot of creditors offer with their credit cards is that they will improve your credit score. This is somewhat true–in the long run. However, opening a new credit card will temporarily hurt your credit score in the short term. The credit bureaus, Experian, Equifax, and Transunion, will always read new credit cards as short-term negative.
The credit card will eventually improve your credit score, but only if it’s a high limit, the debt-to-limit ratio is under 30%, there are no late payments, and it has been opened and used for at least several months, sometimes even years. So if you’re looking to give yourself a quick credit boost, steer away from credit cards as they only give an improvement to your credit score after several months of opening the card. Many people fall into the trap of opening several credit cards before trying to get a loan or mortgage, not realizing that the credit card may temporarily lower their credit score. If you plan far ahead, then getting a credit card will help you improve your credit history.
One last thing to note when it comes to any credit card is the Annual Percentage Rate (APR) of the card itself. Even though you may pay an annual fee, it may still have a high APR, which will add interest to your card. Sure, some cards may have no APR for a set time (between 6 and 18 months usually), but after that time, the interest will start to stack and apply.
If you’re having trouble obtaining a good credit card due to your credit history; then, we can help you build better credit. Call us at (877) 212-2450 for a free consultation. We are industry experts that will help you repair your credit and give you advice on how to further build your credit history.
If you have any questions, feel free to give us a call at 877-212-2450!
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Ok so I've been holding off writing this review for about 7 months. And as you can see by the 5 stars I left I'm beyond happy with the services this company provided me. I was skeptical at 1st even though they had stellar reviews (which is why I chose them) but there's always that thing in the back of my mind of "well they probably won't be able to help me though, I will be that exception they cant fix". Needless to say they absolutely crushed getting EVERY collection I had off my report!!! I had about 5 grand worth of stuff on there that they managed to make disappear like magic. My credit has shot up over 150 points! I cannot say enough good things about them. I even referred my coworker to them after and they sent me a $50 referral check back! If you're looking to clean up your credit, don't wait, call these superstars and get on your way to feeling confident about your credit again. I feel like a huge weight has been lifted off my shoulders and I'm so grateful. Thank you fix your credit!!!
I worked with Mia and Said for over a year, I believe. They were beneficial and responsive. Although we were not successful with all of my accounts, they still helped me raise my credit by about 100 points. So I stand satisfied. I recommend them. Not to mention there prices are very competitive. Thank you all.
I called this place about 3 months when I decided it was time to fix my credit. I spoke with Mia, she walked me thought the whole process in a 5 minute phone conversation. It was simple enough so I decided to pull the trigger and signed up. Its only been 3 months and already they have removed negative items and improved my score significantly. I strongly recommend to give them a call as soon as possible, I waited too long and I wish I would have called sooner. I will update in a few months with the final results.
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