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Credit Card Articles > Tribute Credit Card Review
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Tribute Credit Card Review |
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The Tribute MasterCard is issued by First Bank of Delaware and would be most beneficial if you have a poor credit rating. You would not be able to apply for this card if you live in Iowa, Wisconsin, Puerto Rico or other named U.S. territories.
Providing you do not live in the above mentioned areas, you can apply for the Tribute credit card online. You are promised an immediate decision, but please be aware that due varying customer circumstances your response could be delayed.
The Tribute credit card does not offer a low introductory rate. From the time your application is accepted, the standard APR of 19.75% applies.
Because most applications for the Tribute credit card would be received from people with less than perfect credit, the First Bank of Delaware places certain features on the account that protect the bank from possible future delinquent payers and defaulting accounts.
The card is very expensive to own and serves as a reminder that a poor credit rating hits your wallet as well. Once you keep your credit fairly clean, better credit offers would be available to you.
Let us look at what Tribute credit card offers consist of;
Card Features:
The Tribute credit card carries an annual fee of $150 per year and an account opening fee of $29, the latter fee is paid only once. To maintain the account there is a monthly fee of $6.50. Note that these fees do affect your actual credit limit.
When your application is successful, you are given a $300 limit. However before you can receive the card, the annual and account opening fees are posted to your account. So your limit would be $121. This is not the end however. Once the account is opened you would need to make an initial monthly payment of $20 and this would bring your total credit limit to $141.
The monthly fees of $6.50 start after you make your first purchase.
A good feature of this credit card is, based on how well you conduct your account, future credit line increases may be available. It is definitely in your best interest to pay your bill on time because if you have two consecutive late payments or four late payments in any twelve months your APR would then be 25.75% for purchases and 31.75% for cash advances.
The APR usually reverts to the normal APR after you conduct your account satisfactorily for 6 consecutive months.
If building your credit history is the main goal, be sure to find out if Tribute reports to the main 3 credit bureaus as this would help. No information relating to this was found on the website.
The Imagine Gold Credit Card is quite similar to the Tribute credit card and reports to all three credit bureaus. You would be guaranteed acceptance, and regular credit line increases are promised. The APR is slightly lower at 19.50% and you can qualify for a limit of $350.
For more information or to apply for a Tribute Credit Card --> Click Here
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| Author: Jenniel Taylor-Samuel |
Posted: 2007-02-09 |
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