Tribute MasterCard - Review

Review of the Tribute MasterCard issued by the First Bank of Delaware. This is an unsecured bad credit card that reports monthly to the major credit bureaus.

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.

With responsible use of your card it can help to improve your credit score. This is because with on time monthly payments you will be able to create a positive payment history on your credit report.

This factor is heavily weighted when your score is being calculated. In addition it will improve your ratio of available credit to debt. This ratio is how the bureaus decide if you are in over your head or can afford the new credit line.

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 card does report monthly to all three major bureaus. It will be issued with a $300 credit limit.

This card is unique because they are committed to approving most applicants. If you credit is severely damaged you can still be approved for this card, however instead of a $300 limit your card will have a $70 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.

You will not have to pay an application fee and there is no minimum income requirement. They offer easy approval and free online account access.

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.

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 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.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR