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Tribute Credit Card Review
The Tribute MasterCard is often used to help rebuild a low credit score. It is an unsecured bad credit card.
The First Bank of Delaware issues this card. They are a reputable sub prime lending institution.
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.
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.
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.
However if you have very low credit score you can still be issued a card instead of the $300 limit is will have a $70 limit. This is done because the First Bank of Delaware wants to provide a second chance to as many people as possible.
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.
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 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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