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Thursday, December 11, 2008

Tribute MasterCard Review

By Daniel Moskel

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.

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.

You will have an annual fee with this card; this is common with bad credit cards. Your APR will be 19.50% which is the industry standard.

This card will report monthly to all three major credit bureaus. You initial credit limit will be $300.

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.

Your card will be eligible for limit increases up to a maximum of $2000. When you apply you will know if you have been approved within 30 seconds of submitting your application.

For your credit to benefit the most from your card you should keep your balance at 20% of your limit. This will help because it shows that you do use your card and you are 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.

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