The Tribute Credit Card is a sub prime unsecured card. Often this card is used to re-establish a damaged credit score.
The First Bank of Delaware issues this card. They are a reputable sub prime lending institution.
With responsible use of your card it can help to improve your credit score. This is because with on time monthly payments you will be able to create a positive payment history on your credit report.
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.
This card will report monthly to all three major credit bureaus. You initial credit limit will be $300.
The First Bank of Delaware is committed to helping consumers so they have created an additional Tribute MasterCard for those with a very low score. When this card is issued instead of a $300 credit limit it comes with a $70 credit limit.
This card will report monthly to all three bureaus and works just like the card with a $300 limit. You will be eligible for limit increases. There are no finance charges and no account set up fees for both cards.
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.
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.
