Total Visa
The Total Visa is a bad credit unsecured card. It was designed for individuals with blemishes on their credit report.
It reports monthly to all three major credit bureaus. By making your monthly payments on time it will help you build a positive payment history.
This is a heavily weighted factor in your credit score. Additionally your utilization ratio is another large determining factor of your score.
This compares the amount of debt you have versus unused credit. It is how the bureaus determine if you can afford a new credit line.
It will help your score if you can show available credit. It is estimated that these two factors account for up to 70% of your credit score.
Removing negative credit should still be a priority and that will help improve your payment history.
Your card will have an initial $250 limit and a 19.92% APR. It is issued by Plains Commerce Bank and has an annual fee of $48.
The cash advance APR is 19.92%, in case of a financial emergency. You will be eligible for quarterly limit increases.
With our current economic conditions there has been a wave of good credit cards raising their APR's to 20% and higher. They have been doing this without cause, meaning the customer did not pay late.
Congress has responded and made new laws to prevent this in the future. However these laws will not go into effect until 2010. Additionally we have seen lower limits and much more stringent approval requirements.
Your card will have fraud protection and free online account access. Your card is accepted everywhere Visa is.
If you are able to use your card responsibly it can help a low score. However it can also harm even a low score with irresponsible use.
For this reason we feel that it is important for you to examine your budget before you make any decisions to take on a new credit line.
It reports monthly to all three major credit bureaus. By making your monthly payments on time it will help you build a positive payment history.
This is a heavily weighted factor in your credit score. Additionally your utilization ratio is another large determining factor of your score.
This compares the amount of debt you have versus unused credit. It is how the bureaus determine if you can afford a new credit line.
It will help your score if you can show available credit. It is estimated that these two factors account for up to 70% of your credit score.
Removing negative credit should still be a priority and that will help improve your payment history.
Your card will have an initial $250 limit and a 19.92% APR. It is issued by Plains Commerce Bank and has an annual fee of $48.
The cash advance APR is 19.92%, in case of a financial emergency. You will be eligible for quarterly limit increases.
With our current economic conditions there has been a wave of good credit cards raising their APR's to 20% and higher. They have been doing this without cause, meaning the customer did not pay late.
Congress has responded and made new laws to prevent this in the future. However these laws will not go into effect until 2010. Additionally we have seen lower limits and much more stringent approval requirements.
Your card will have fraud protection and free online account access. Your card is accepted everywhere Visa is.
If you are able to use your card responsibly it can help a low score. However it can also harm even a low score with irresponsible use.
For this reason we feel that it is important for you to examine your budget before you make any decisions to take on a new credit line.
About the Author:
For more about the Total Visa Card or for a free credit repair consultation visit us or call 1-800-253-3735, or for a review of the popular prepaid Rush Card www.rushcard.com.
posted by Credit Counseling at
5:26 PM
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