best credit card

xtahoex · 05-03-07, 09:10

Hey Guys,
I need to get a new credit card and I wanted to see what suggestion y'all might have. There are so many cards with different reward systems that I can't make up my mind. Cash back, airline miles, credit at certain stores. What do you think is the best one? Thanks in advance.

Jeffrey Kim · 05-03-07, 09:38

amex black card.

TigerMike · 05-04-07, 05:46

I just got the Amex Blue with 3.99% on my balance transfer...for the life of the transfer...best deal going IMO. I'm gonna save a ton in interest charges compared to what I had!

kkreit01 · 05-04-07, 08:53

Local Credit Union or Local Bank. They are the only ones to provide low interest. I have one from each, and the interest is around 13% -- compared to 19+ of others.

xtahoex · 05-04-07, 09:01

ok maybe I should clarify I will never leave any balance on the card so I don't really care what the interest rate is. I want the best benefit, like miles or points or cash back. Thanks again. oh, and I don't think I am spending quite enough to be using a black card, thanks though for the suggestion.

TigerMike · 05-04-07, 09:47

Reward Credit Cards - CreditCards.com

paul34 · 05-04-07, 11:07

Yup, just get a card that offers gas rewards. Discover is one that does that... or you could go for a BP card if you want to be limited to only BP stations (or a Chevron card, and so on).

All credit card companies have their flaws. I have a Discover gas card, a BP Visa (gas rewards), an American Express (that I got through an organization I'm in in my university), and then a MasterCard debit card.

I can't say I have any complaints about the Amex. Pretty good people.

And yes, I try to pay off in full every month as well. I hate carrying debt... it just doesn't feel right.

kompressornsc · 05-04-07, 11:29

For better than those 1 or 2 percent rewards programs, do this:

Get a card that has a zero APR on purchases for 18 months. Put everything on the card like you normally would, but only pay the minimum balance each month. Take the same amount of money you put on the card that month and deposit it in a high yield savings account (ING, HSBC, etc.). Most of them are over 5% APY now. Keep that money in there earning interest until the 0% APR runs out, and then pay it off. Should have a tidy sum left over.

bsdsys_x86 · 05-04-07, 11:33

Or you could just stick with a debit/visa/master card from you bank of choice. That's what I use. I don't feel the need to have a credit card. I use my bank card as visa for almost anywhere you can possibly think of and wouldn't have it any other way. Personally, I would never have a credit card.

Bryan

Grimm · 05-04-07, 12:01

I prefer a regular CC, unless you have a checking account that you want to have your debit card linked to that has a low balance. I found out ours was linked to our savings. Not a good idea IMO unless you want someone to clean out your account. At least with a regular CC you aren't out actuall money if someone steals it.

That said, we have a card from State Farm where we get 1% back on our insurance. And I just got a application from National City where we can get up to 4% back from certain purchases like gas, groceries and restaurants.

paul34 · 05-04-07, 12:10

Quote:

Originally Posted by bsdsys_x86

Or you could just stick with a debit/visa/master card from you bank of choice. That's what I use. I don't feel the need to have a credit card. I use my bank card as visa for almost anywhere you can possibly think of and wouldn't have it any other way. Personally, I would never have a credit card.

Bryan

I would do this... indeed, I did for a while. However, I need to build up my credit so I just charge things on the card and then pay off 100% every month. Some people have told me that if you do that, it doesn't build credit. Others have told me that it does.

Whatever, its more convenient for me to only carry debt in an absolute emergency.

bsdsys_x86 · 05-04-07, 12:39

Quote:

Originally Posted by paul34

I would do this... indeed, I did for a while. However, I need to build up my credit so I just charge things on the card and then pay off 100% every month. Some people have told me that if you do that, it doesn't build credit. Others have told me that it does.

Whatever, its more convenient for me to only carry debt in an absolute emergency.

Search around. American Express Blue is a great card and you pay that off each month. I deffinately would do it the way you plan. Spend $200.00 in credit, and pay $200.00 at the end/beginning of the month. Don't go crazy and do more damage like alot of people with no control do with credit cards.

Quote: "Cash is King and Debt Is Dumb!" Author: Dave Ramsey

Bryan