Credit cards usually serve customers by simplifying their shopping requirements and offer plenty of attractive rewards to the users. However some credit cards are specifically targeted for users with poor credit history. Responsible usage of such credit cards can help users to improve their poor credit ratings and granite credit card is one such card. Granite credit card is a relatively new card introduced by Vanquis Bank. A big advantage with the granite credit card is that it does not have an annual fee and users can enjoy up to 56 days of no interest on the purchases. The users are assigned a fixed amount as credit limit so that it can be used effectively to improve on their credit rating.Advertisement
Terms and benefits of granite credit card
The limit related with granite credit card is between 150 pounds to 500 pounds and it is determined based on the specifics of the case. It is important that the card is used responsibly and payments are made on time. This is because the representative APR for the card is between 34.9% to 59.9%. The interest rate on cash advances is also quite high at 49.42 %. If the credit card is not carefully used and there are delays in payment then it can prove to be quite expensive for the users. To get the best benefit associated with the card, it is important for users to pay as much as they can and not just the minimum payment amount. The granite credit card also provides certain benefits to the users. These benefits include discounts with certain retailers. Since the card is widely accepted within UK as well as abroad, it can be used with ease. An additional cardholder can also be easily added and at no additional cost.
While this card does not offer many benefits to regular users, people with credit problems can definitely benefit from the low credit limit offered by this card. Prudent use can allow them to improve on their credit rating. The card also has fraud monitoring feature that warns the users of suspicious activity on their account.
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