The Tribute MasterCard is a bad credit unsecured card. It is frequently used to rebuild a low 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.
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.
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 have easy approval requirements and no minimum income for this card. You will have free online account access and there is no application fee.
When you apply you will have a 30 second online decision. Also your card will have limit increases with a maximum limit of $2000.
To get the most benefit on your credit report from your card you should try and keep the balance at approximately 25% of you credit limit. This is because it shows the bureaus 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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