Need A Credit Card – Look At The Imagine Credit Card

There are hundreds of credit cards on the market these days meaning that people have got a number of confusing options to consider. If you were to think of all the different interest rates and all of the different benefits such as airline miles or other reward points there is a chance that your head will spin. You have also got prepaid and debit cards to think about as well. Cards such as these can be given to pretty much anyone regardless of their credit history, but most of the time these cards are not associated to any credit reporting agencies because there is no credit extended.

Unsecured credit cards can prove to be quite hard to get these days, but the Imagine Gold credit card has been introduced by the First Bank of Delaware. This Imagine credit card is a bit different compared to more other credit cards. It is an unsecured credit card, but it has got to be linked to your bank account, so that automatic repayments can be set up. These cards are real credit cards, so all of your activity is going to be reported back to the major credit reporting agencies.

You will have to pay a one time charge for the Imagine credit card of $4.95. This payment is going to entitle you to around about a $300 balance on the card. The interest that you will be charged for any balance is going to be quite high when compared with other cards and also cash advances will be expensive too. You are not going to need to worry about these things if you pay off the balance each month.

If you are the type of person who has their bills paid off on time each month then a card like this may be ideal for you. Like all other credit cards you don’t want to carry over a balance. The interest rate is going to be higher than 25% and there is also a $10 fee for carrying over a monthly balance. So this means that if you carry over a balance of $100 only $70 of this will actually have been spent buy you, the rest is interest and fees, for many borrowers this can lead to financial trouble.