Tribute MasterCard Review
The Tribute Credit Card is a sub prime unsecured card. Often this card is used to re-establish a damaged credit score.
This card is issued by the First Bank of Delaware. This bank has been in the sub prime lending business for years.
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.
When your score is calculated this is one of the biggest influences on your score. In addition this will help to improve your ratio of available credit to debt. This ratio is how much debt you have compared to how much credit you have that is not being used.
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.
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.
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.
You should also know to get the most benefit on your credit with this card you should aim to keep the balance at roughly 20% of your credit limit. This will help your score because it shows you are in fact using your card and using it responsibly.
In sum we do suggest the Tribute MasterCard to anyone with a damaged credit history. You can use it to create a positive payment history and improve your ratio of available credit to debt.
