Having a MasterCard with your new Quick Credit can really help you a lot in making the best credit decisions. By applying for loans and mortgages you can have your Credit restored.
With Credit restored, you will be able to pay a lower monthly payment for your mortgage or any loan. You can also buy your dream car with additional funds in your bank account. When you’re reestablishing your credit, there are some important things you should do before you apply for any loans.
Pros and cons of using your credit card
Weigh the pros and cons of using your MasterCard instead of your Credit Card. Most people think that using your Credit Card for loans is the best way to get your credit back on track. What you need to know is that this is not the case. With your current credit history, you are going to be charged high-interest rates.
Here’s why. Banks take your Credit card as collateral when they give you a loan. So if you fall behind and miss your payments, you’re going to lose your Credit card.
With a MasterCard, you’re going to use it as a debit card so you can make your purchases without a Credit card. This makes it easier for you to keep track of all your expenses. Your expenses will appear on your account but your payments will be made automatically.
It’s a good idea to close any unused credit cards
There is no need to carry an account that has zero balance. The banks understand that most consumers use their cards for impulse buying so they don’t want them to carry balances.
Check your Credit report. See what has been disputed on your Credit Report. When a creditor disputes something on your Credit Report, it may cause the credit bureau to remove the disputed item from your credit history.
After you have checked your Credit report, write down all the information you have about the disputed items and have them removed. At this point, you’ll notice the errors in your Credit report and you can go ahead and apply for a new credit card or loan.
MasterCard Quick Credit Cards can be helpful to get your Credit reinstated. It is a better way to get rid of your Credit debt and repair your Credit Rating.
You don’t have to submit applications
The good thing about MasterCard with Quick Credit is that you can apply and have approved the very easy application process. You don’t have to submit applications to the banks each time you want to use your MasterCard to go shopping.
The application form can be downloaded from their website. Just fill it out and mail it to the address provided by the company.
The next step is to visit your Credit Restoration Company. These companies can help you the most because they have experience working with these issues and they understand what your situation is like.