The household bank credit card is one of the most diverse and useful cards issued by Mastercard, and can be a boon for people looking to rebuild credit or new card users that want to establish good credit.
Lets start with the most useful and the best reason to get a household bank credit card.For people with not so good credit to bad credit,this should be an ideal choice.In addition to rebates on the card, whatever you buy and payback on the card goes on record, and is reported in due course to credit bureaus.This can be an excellent way to give that much needed boost to your credit score.Remember the more you spend, and in what capacity you pay back will reflect on your credit report.The good part of getting your credit repaired over a period of time is that, the APR charged on the Household bank credit card is directly related to your credit score or credit worthiness.This could dramatically reduce your interest charges and your overall fees expense of the card,which in turn will give you more freedom to charge the card more.Its a win-win cycle, and the only winner is you.
Best Secured Card
The other type of Household bank credit card that is offered is the Secured card from Mastercard. How does the secured card affect your credit rating?For people with bad credit and for those who want to improve on their existing credit scores,applying for a Household bank secured card might be an excellent idea.The Mastercard secured issued against a minimum deposit of $200 which must be made in the bank,and holds as collateral or security.The amount of this deposit and the line of credit offered to you will be directly proportional to each other.To make things easier,this card comes with no annual fees for the first year,and is only charged $35 thereafter.Even the processing fees are scratched and a reduced APR on purchases is charged at a measly 7.99%.
In addition to the above two extremely important aspects of the household bank card,other great promotions,benefits and cash back offers are aplenty to shower on you.This may seem like pretty standard stuff as far as credit cards are concerned,but the reason im bringing it up is because,this credit card is different.The mastercard that Household issues is a secured card,and is primarily targeted at people with less than perfect credit.Most secured cards are only a convenience and a credit building tool,therefore the bank doesn’t feel that they need to extend other courtesies to lower credit level customers.The household bank card is one such generous card that doesn’t discriminate and offloads the goodies on people of all credit levels.