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Old 12-15-06, 05:06 PM   #1
Brusheda
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Which credit card is best?

What credit card do you think is best? I currently have a chase visa, just b/c it was my first card and they gave me credit easily. I would like to get cash back, currently I get rewards. Right now I don't spend much money, I just thought I should establish credit before it was too late.
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Old 12-15-06, 05:09 PM   #2
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the card that you have no problems paying off, thats the best.. They could give me 500% interest rate and i wouldnt care, i pay it off before any interest gets charged, and if i dont have the money i dont use it.
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Old 12-15-06, 05:12 PM   #3
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Assuming you pay in full each month, you might as well get your freebies. I use the Citibank Dividend card as my primary card. 1% cash back on everything, 2% on some stuff, even more from selected merchants. No annual fee, and since I pay in full each month, I don't encounter any finance charges.
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Old 12-15-06, 05:13 PM   #4
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i use a gold card that gives me aeroplan miles on the star alliance network.. free trip to europe next year
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Old 12-15-06, 05:21 PM   #5
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Quote:
Originally Posted by Brusheda
What credit card do you think is best?
The one you don't have to use.
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Old 12-15-06, 05:27 PM   #6
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If you don't have the cash, don't buy it.
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Old 12-15-06, 06:16 PM   #7
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Discover and MBNA are my favorites, but I pay mine off monthly too.
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Old 12-15-06, 06:16 PM   #8
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Whichever one has a less apr than my 20% capitol one.
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Old 12-15-06, 06:18 PM   #9
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The best visa? Prepaid! Limits your spending nicely and as long as you plan, you are good to go! No interest and no bill!
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Old 12-15-06, 06:21 PM   #10
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I carry only one credit card only as a matter of convinience since I pay my monthly balance in full each month.
I no longer carry it but the old American Express card had to be paid in full each month, no options.....that was good.
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Old 12-16-06, 12:10 PM   #11
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I have a Visa. Pay them off each time you get a bill and itll always be the best.
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Old 12-16-06, 12:28 PM   #12
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I use the REI Visa card which adds to the REI dividend with every purchase, at any merchant. The dividend can be spent at REI for purchases.
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Old 12-16-06, 12:35 PM   #13
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Discover - if you can get the 5% cash back. MBNA was my favorite, but now it's Bank of America. Shop around for lowest interest rates.
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Old 12-16-06, 01:04 PM   #14
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The Discover card I have gives me 1% back on everything, 5% on gas. Use it responsibly
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Old 12-16-06, 01:30 PM   #15
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The one that has "Zero" as your balance!
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Old 12-17-06, 02:00 AM   #16
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My Visa DEBIT card.
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Old 12-17-06, 02:01 AM   #17
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My girlfriends, mine never seem to woork.
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Kidding aside. Don't use creditcard.
Never liked the idea of paying for stuff more then once.
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Old 12-17-06, 02:05 AM   #18
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I paid off my credit card(which I went 2 dollars over my limit on). Hopefully they'll reactivate it!
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Old 12-17-06, 07:43 AM   #19
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Quote:
Originally Posted by apclassic9
Discover - if you can get the 5% cash back. MBNA was my favorite, but now it's Bank of America.
I had an MBNA Working Assets card, but now that they're BoA, I'm cancelling it. Had a BoA card for a while, and they were did VERY shady things, like moving the payment date a week+ early to get you to miss it.

Not having them again, ever.
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Old 12-17-06, 07:47 AM   #20
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Quote:
Originally Posted by midschool22
My Visa DEBIT card.
Be careful with that. With a CC (and IMO the main reason to use one) you can dispute fraudulent charges. If you do so, you don't pay until the dispute is resolved, and if it's resolved in your favor, you never pay.

With a debit card, you can still dispute, but your money is GONE until it's resolved in your favor. So if your account # gets loose, you're funds are cleaned out for however long (months?) it takes them to settle it.

I had a problem with a hotel double-billing me once, and it took over a month to get my money back. A CC is fine, if you pay the balance every month, and you still get the protection.
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Old 12-17-06, 08:08 AM   #21
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Here's something I read about Capitol One. They don't report your credit limit to the credit bureaus. Instead, they report you highest balance. So, say they give you a card with a $10,000 limit but the most you'd ever charged on it was $2000. And you carry a $1000 balance. What's reported to the credit agencies - and used in calculating your credit score - is that you have a 50% balance on your available credit.

Plus, as I found out when trying to cash my points in, they require more points for a basic ticket (35K vs 25K on my other card). I'm getting rid of Capitol One.
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Old 12-17-06, 08:34 AM   #22
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No credit card would be my first choice, however I do carry American Express because of the $$ volume I need for travel. The points are secondary. For a Visa/MC I carry a low interest rate no frills card from my Credit Union. Watch the big boys they play all sorts of games. I used to have a CitiBank card that got paid in full every month, they started messing with payment dates so I was late...once, then another time I carried a balance for a month while waiting on a reimbursement check that got lost in the mail, they used the excuse I was late once to up the interest rate to 29%. Paid in full and dumped them immediately. I usually use cash for most purchases but in this day and age and with the amount I travel it isn't always feasible.

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Old 12-17-06, 09:22 AM   #23
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Interest rates on credit cards should not matter. Because anyone that carries a balance on a credit card is either very undisciplined or very bad at math.
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Old 12-17-06, 09:55 AM   #24
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Quote:
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Interest rates on credit cards should not matter. Because anyone that carries a balance on a credit card is either very undisciplined or very bad at math.
Careful when making absolute statements. I would disagree with you on your statement because it is possible to use credit in a deliberate and discplined manner. First, let me say that I don't carry balances in general. However, if there is something that I want that I may not be able to afford at the moment, I may make a decision that it's worth it to "rent" the money to get it now rather than waiting and elect to use credit. I never do that without a plan to pay it off in X months and - contrary to your assertion - am very disciplined at making those payments I don't get raped with more interest than I planned on. Whenever I can, I use other people's money, too. That is, I make use of the 12 months no interest deals when I can. I will postpone or accelerate an already planned purchase a little in order to take advantage of these offers, but won't get something just because of them. Oh, and since they usually have a "gotcha" that says if you're late paying them off, they go back and add ALL the interest in from the date of purchase, you have to be disciplined to make it work.

So... using credit doesn't mean you're undisciplined or bad at math, as long as you go into it with a plan and understanding exactly what it's going to cost overall.
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Old 12-17-06, 11:04 AM   #25
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I have a capital one no hassle rewards cash card. We pay it off every month, but the best thing is my wife is going to let me use the reward cash to buy a new bike.
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