A couple of days ago a friend of mine came over and she was talking about the bad credit she realized she did. It’s now haunting her because it seems that it is a difficult for her to be approved of a regular credit card. I have not heard of any other options about having another way of having credit cards. So, what we did was, we went to my bank and asked around about options on what she could do. I could not lend her money, she knows that. It is not because I do not want to but because it simple is not our culture. She knows too that I am a single mother who works for 2 kids now. Anyways, we spoke to this young lady. Marie, my friend presented her case and the conversation went well. She looked better after we left the bank.

What did they talk about? The lady at the bank presented 2 options to Marie. The first one was Cash back credit cards and the other was secured credit card. Okay, so what was the difference? As for cash back credit cards are cards with cash rebates and incentives. This usually requires a good to excellent credit rating for approval. It rewards you for using them with cash back incentives and rebate programs. What about secured credit card? Secured credit cards are the best options, but before you get one, there are some questions you should have answered. Questions like: what is the credit limit, what are the costs covered, how much is the deposit. These are just a few of those questions that should have been answered by the applicant.

What did Marie opt for? She chose to have the cash back credit cards. She needs to buy some things and at the same time she could also benefit from incentives or rebates from different selected establishments. There are a lot of choices she can have right now. As I still remember that are cash back credit cards that gives back 5% in quarterly bonus categories like gas, home improvement and purchasing from department stores. There are also that offers 3% cash back on gas, grocery, and drug store purchases for the first 6 months and 1% on all other purchases. Others d not have annual fees. Then there are others who offer a 1% unlimited cash back bonus on all other purchases. Another is earning bonus cash back on rotating categories each quarter. Enrollment required.

I am pretty sure that Marie would make the right decision with the guidance of that lady in the bank.

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