Master Credit Card

I dont have any credit, but i'm trying to get some. If i apply for master card and use only for gas and other small stuff, what is the best card i can get? Please help

I work in the credit card industry manually reviewing reports to either approve or deny credit to people that apply, so I would have firsthand knowledge of what you're looking for.

The ideal card would be one with NO annual fee, a 0% introductory and low (10.99%/max) APR, benefits program, and high starting credit limit. If you don't have much of a credit history, it will be much harder to try to get cards like this. What I would suggest would be to check where you do your banking to see if they offer what's called a "secured" credit card. These work pretty much the same as a regular card only that a security deposit which is used as collateral is placed upfront to determine the credit limit. For example, if you deposit $300, then you could purchase up to $300, and pay back $300. The deposit is used for collateral only when the account is sent to collections, but if you pay on time, usually after a year it's given back to you. 2 main benefits to secured cards is that it give you more control over the credit limit by adding to the deposit, and the deposit is sometimes linked to a savings account, which earns interest while you're building credit, so it's just not sitting there. The more you add to the deposit, the higher the limit, the better your score will get becuase 30% of your score counts on how much credit you have to what you're using. 2 more benefits from secured cards is that by you putting up the deposit with your own money, it makes you more disciplined in managing the card, especially since the deposit would be at stake, and it also helps to start up an emergency fund when you get the deposit back later on.

I also want you to be aware of some cards out there that target people that have trouble getting approved for credit, or trying to rebuild their credit. These cards are easy to get, but they're loaded with hidden fees that are charged which reduce your available credit and leave you with a bill to pay before you even get the card in the mail. Tribute, First Premier, and New Millenium are prime examples of this.

I posted several links to some secured card companies that I think would work out ok.


good luck!

2008-03-06 07:16:00 by unbreakable.love

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hello,
what is the difference between credit card and master card ? can i use master card for pay pal ? which are the ones allowed for pay pal?

you question is similar to asking. What is the difference between fruit and an apple. An apple is a fruit.

Just as a master card is a credit card. I can only assume paypal would accept one of the largest brands of credit cards

2008-09-25 06:50:19 by susu

Price: $9.99

I need to build-up my credit score. I realised the importance of it very late .And now it is hard to find some financial body who is interested to provide credit card to me . So I thought of buying the master card, the pre-paid one. As I received it I found it has not my name printed on it. Now , I am sceptical if it can really help me to build my credit score.Is there any card that I can buy to serve my purpose ?

A prepaid credit card can not help you build your credit score. You are not being extended credit. There are several that will report your use to the credit bureaus, but you will pay extreme fees to get this done.

There are several unsecured credit cards that will approve you, but you should be careful of all the scams and preditory lenders.

Avoid First Premier, Tribute, Rewards 660, Imagine, Total, and Continental Finance. These are all high fee / low limit credit cards that amount to nothing more than a scam.

Avoid secured credit cards. Most report your status as secured and this does nothing to help build/rebuild your credit.

Avoid Capital One. They do not report your credit limit and that damages your credit score. Example, they give you a $500 limit and you use $250, they will report your limit as $250. This will damage your credit score because instead of using 50% of your credit limit, it looks like you are using 100% of your credit limit.

So far the best card I have found for building/rebuilding credit is Orchard Bank. They have a low interest rate (14.90, good for a sub prime card), low annual fee, no hidden fees and if you manage your account properly, they give excellent credit limit increases. You can get more info on Orchard Bank at http://www.creditcardindex.org/orchardba nk.html

2007-04-19 01:01:49 by Kumu

Price: $11.95

What is Travel credit card? Which is the best credit card company for visa card and master card? I’m thinking to get a visa card and want to know that travel credit card allow earning point when you use it for purchase.

Here's where some CC companies get you. All of them offer great rewards POTENTIAL. Sorry for the caps but it's important. The truth is you have to find out what the qualifying purchases are. The best ones are the cards you get points for paying your utility bill and gas. Most people have to buy gas and have utility payments why not use your card and get the points. Just save the money you normally do for those payments and send it to the CC.

2007-01-11 02:15:48 by lavina c

Is there a valid credit card that is marked with both Master Card and Visa?

No.

You can get two separate cards if you want, and there was a time when a bank would issue either card at your choice, but I don't know if you still can do that.

They both have pretty universal acceptance, Visa might have a slight edge outside the US.

2006-12-13 08:38:41 by gncd_hrt