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 will help to increase your score. This is because with on time monthly payments you will create a positive payment history on your credit.
This factor is heavily weighted when your score is being calculated. In addition it will improve your ratio of available credit to debt. This ratio is how the bureaus decide if you are in over your head or can afford the new credit line.
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.
This card will report monthly to all three major credit bureaus. You initial credit limit will be $300.
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.
You will not have to pay an application fee and there is no minimum income requirement. They offer easy approval and free online account access.
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 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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