Tribute MasterCard – Review
The Tribute MasterCard is often used to help rebuild a low credit score. It is an unsecured bad credit card.
This card is issued by the First Bank of Delaware. This bank has been in the sub prime lending business for years.
Your card will help to increase your score. This is because with on time monthly payments you will create a positive payment history on your credit.
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 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.
It will still report to the bureaus and the limit can increase to $300 with responsible use. There are no finance charges and no account set up fees.
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.
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.
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 we do suggest the Tribute MasterCard. When used properly it is a very effective tool to rebuild a low credit score.
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