Tribute MasterCard - Review
The Tribute Credit Card is a sub prime unsecured card. Often this card is used to re-establish a damaged credit score.
The First Bank of Delaware issues this card. They are a reputable sub prime lending institution.
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.
Your payment history is factored heavily when your credit score is calculated. This card will also help your ratio of available credit to debt. This ratio is how much debt do you have compared to the 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.
However if you have very low credit score you can still be issued a card instead of the $300 limit is will have a $70 limit. This is done because the First Bank of Delaware wants to provide a second chance to as many people as possible.
However using your card responsibly and you will have limit increases for both cards. There are no finance charges and no account set up fees for your card.
There is no application fee and you have free online account access. In addition there is no minimum income requirement and easy approval.
When you apply you will have a 30 second online decision. Also your card will have limit increases with a maximum limit of $2000.
You should also know to get the most benefit on your credit with this card you should aim to keep the balance at roughly 20% of your credit limit. This will help your score because it shows you are in fact using your card and using it responsibly.
In sum we do suggest the Tribute MasterCard to anyone with a damaged credit history. You can use it to create a positive payment history and improve your ratio of available credit to debt.
The First Bank of Delaware issues this card. They are a reputable sub prime lending institution.
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.
Your payment history is factored heavily when your credit score is calculated. This card will also help your ratio of available credit to debt. This ratio is how much debt do you have compared to the 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.
However if you have very low credit score you can still be issued a card instead of the $300 limit is will have a $70 limit. This is done because the First Bank of Delaware wants to provide a second chance to as many people as possible.
However using your card responsibly and you will have limit increases for both cards. There are no finance charges and no account set up fees for your card.
There is no application fee and you have free online account access. In addition there is no minimum income requirement and easy approval.
When you apply you will have a 30 second online decision. Also your card will have limit increases with a maximum limit of $2000.
You should also know to get the most benefit on your credit with this card you should aim to keep the balance at roughly 20% of your credit limit. This will help your score because it shows you are in fact using your card and using it responsibly.
In sum we do suggest the Tribute MasterCard to anyone with a damaged credit history. You can use it to create a positive payment history and improve your ratio of available credit to debt.
posted by Credit Counseling at
8:10 AM
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