The Total Visa was designed for individuals with a low credit score. It is an unsecured card.
It will report to the major credit bureaus. You can build a positive payment history by making on time monthly payments.
This is very important when your score is calculated. Your utilization ratio will determine another large part of your score.
This ratio is how the credit bureaus decide if you are in over your head financially. It compares your amount of debt to your amount of available credit.
They estimate that your utilization ratio and payment history make up to 80% of your score. It will help if you have unused credit.
However it is still a priority to remove any negative marks from your report. This will help to show a positive payment history.
This card is issued by the Plains Commerce Bank a member of the FDIC. It has an initial credit limit of $250, and a 19.92% APR. There is an annual fee of $48.
They offer a 19.92% cash advance APR which is actually lower than many prime credit cards, in case of a financial emergency. They do give quarterly credit limit increases.
Recently good credit cards have been raising their interest rates even with customers that are paying on time. These rates have been jumping as high as 28%, without cause.
Law makers have responded however these new laws do not go into effect until 2010. We have also seen the lending institutions tighten their requirements for approval.
With your card you will have free online account access and fraud protection. It is accepted everywhere Visa is, and you will get an instant decision when you apply online.
In sum, we do suggest the Total Visa. It can be used to build positive credit because it reports monthly to the bureaus, and is a second chance for many.
For more about the Total Visa or for a free credit repair consultation visit us or call 1-800-253-3735, or for a review of the popular prepaid credit card the Baby Phat Rush Card.
