Total Visa - Review
The Total Visa is a bad credit unsecured card. It was designed for individuals with blemishes on their credit report.
It will report to the major credit bureaus. You can start to build a positive payment history by making on time monthly payments.
This is a large part of your score. Additionally another big piece is your utilization ratio.
This ratio is how the credit bureaus decide if you are in over your head financially. It compares your amount of debt to your amount of available credit.
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.
There is an initial limit of $250 and an annual fee of $48. It has a 19.92% APR, and is issued by the Plains Commerce Bank.
They offer a 19.92% cash advance APR which is actually lower than many prime credit cards, in case of a financial emergency. They do give quarterly credit limit increases.
As of late, we have seen a rise in interest rates. This has been happening to customers that have never paid late, their rates have jumped to 20% and higher.
The government has responded and has passed laws to prevent this; however these laws do not take effect until 2010. Additionally many of these institutions are lowering limits across the board and tightening approval requirements.
Your card will have fraud protection and free online account access. Your card is accepted everywhere Visa is.
If you use your card or a new credit line responsibly it can help your score. However if you use it irresponsibly and can also hurt your score.
You should really look at your current expenses and income and decide if you really should take on a new line of credit.
It will report to the major credit bureaus. You can start to build a positive payment history by making on time monthly payments.
This is a large part of your score. Additionally another big piece is your utilization ratio.
This ratio is how the credit bureaus decide if you are in over your head financially. It compares your amount of debt to your amount of available credit.
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.
There is an initial limit of $250 and an annual fee of $48. It has a 19.92% APR, and is issued by the Plains Commerce Bank.
They offer a 19.92% cash advance APR which is actually lower than many prime credit cards, in case of a financial emergency. They do give quarterly credit limit increases.
As of late, we have seen a rise in interest rates. This has been happening to customers that have never paid late, their rates have jumped to 20% and higher.
The government has responded and has passed laws to prevent this; however these laws do not take effect until 2010. Additionally many of these institutions are lowering limits across the board and tightening approval requirements.
Your card will have fraud protection and free online account access. Your card is accepted everywhere Visa is.
If you use your card or a new credit line responsibly it can help your score. However if you use it irresponsibly and can also hurt your score.
You should really look at your current expenses and income and decide if you really should take on a new line of credit.
About the Author:
For more about the Total Visa 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.
posted by Debt Consolidation Loan at
8:17 AM
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