Bam Posted July 13, 2005 Report Share Posted July 13, 2005 I'm looking to get a new credit card, or two. I've got 3 now and never leave a balance on them but I am tired of not getting anything from them. Nowadays its common to see people getting Airway Miles or free hotel stays after so much charged. What are you using? What do you reccommend? Thanks Matt Quote Link to comment Share on other sites More sharing options...
Orion Posted July 13, 2005 Report Share Posted July 13, 2005 look, free compound interest! oooo.....and revolving debt! credit cards are sweet! Quote Link to comment Share on other sites More sharing options...
DeathSandwich Posted July 13, 2005 Report Share Posted July 13, 2005 I use blue cash from American Express... they say you get "up to" 5% cash back... I know I've spent over 3k w/ that card and my reward is like up to $30... not much but better than nothing.. If I ever get another card, I'm gonna get a BP credit card so I can earn some free gas, you should look into that Quote Link to comment Share on other sites More sharing options...
Lustalbert Posted July 13, 2005 Report Share Posted July 13, 2005 waiting on the jegs visa to come out. Quote Link to comment Share on other sites More sharing options...
Skinner Posted July 13, 2005 Report Share Posted July 13, 2005 we have a sony card and like it we dont get cash back but they do give points out towards just about everything that sony sells. Quote Link to comment Share on other sites More sharing options...
mrs.cos Posted July 13, 2005 Report Share Posted July 13, 2005 We use discover card and get 1%cash back on purchases We also use our subaru card for Subie Bucks Quote Link to comment Share on other sites More sharing options...
Guest GSRchick714 Posted July 13, 2005 Report Share Posted July 13, 2005 If you have 3 and never have a balance on them - just cut it to one that has a big enough limit. I have Discover cashback ....don't get much back but it is free $ Quote Link to comment Share on other sites More sharing options...
Bam Posted July 13, 2005 Author Report Share Posted July 13, 2005 That's what I'd do, cut two of them up when I get a new one. I like to have at least two granted I never use them,I'm just extra cautious. So no one has like free airline tickets or something? Quote Link to comment Share on other sites More sharing options...
DeathSandwich Posted July 13, 2005 Report Share Posted July 13, 2005 Originally posted by BAM6I4: That's what I'd do, cut two of them up when I get a new one. I like to have at least two granted I never use them,I'm just extra cautious. So no one has like free airline tickets or something?become a pilot... you get to fly.. AND THEY PAY YOU!! tongue.gif Quote Link to comment Share on other sites More sharing options...
Lustalbert Posted July 13, 2005 Report Share Posted July 13, 2005 My bro has a GM card. if you are planing to buy a new GM sometime in the future. Quote Link to comment Share on other sites More sharing options...
04r1 Posted July 13, 2005 Report Share Posted July 13, 2005 National City offers a great card with 1-5% back depending on what the purchase is. Quote Link to comment Share on other sites More sharing options...
Guest mithesaint Posted July 13, 2005 Report Share Posted July 13, 2005 I've got a Citiback Diamond Preferred rewards card. In about 15 months, I've spent enough on it to be eligible of $300 worth of gift certificates to major stores, eg best buy circuit city, that sort of thing. Haven't cashed them in yet though, so who knows. We'll see what the catch is. The prospect is intriguing though. BTW, I'm not a high roller. Just a regular college student who puts everything on the credit card. Quote Link to comment Share on other sites More sharing options...
Akula Posted July 14, 2005 Report Share Posted July 14, 2005 I have a delta skymiles card. I pay all my auto pay stuff with it (cell, directv etc...) I get a free ticket every year, and I have once a year rates with companion fares. Quote Link to comment Share on other sites More sharing options...
Sully Posted July 14, 2005 Report Share Posted July 14, 2005 Originally posted by BAM6I4: That's what I'd do, cut two of them up when I get a new one. I like to have at least two granted I never use them,I'm just extra cautious. So no one has like free airline tickets or something?American Airlines has a credit card that you can get to earn airline miles. Here is an e-mail that I got from American Airlines after I signed up on their website: Earn Miles For The Things You Do Everyday Now you can earn miles toward travel awards to a variety of exciting destinations. Here are just a few ways to start earning miles today: - Earn up to 1,000 AAdvantage bonus miles each time you purchase your ticket on American Airlines®, American Eagle® or AmericanConnection® at AA.com. For complete details, visit www.aa.com/bonus. - If you are a U.S. member, apply for the Citi® Gold / AAdvantage® World Mastercard® today and, if approved, you will earn 5,000 bonus miles with your first purchase. Plus, earn one mile for every dollar you spend on purchases. Apply now and enter offer code xxxxxxx (<-- edited my offer code) at www.aadvantage.citicards.com. - Earn 10 miles for every dollar you spend on your entire dining bill at 7,500+ AAdvantage Dining restaurants. Enroll online at www.aa.idine.com. Of course you can earn miles by flying, but the Mileage Maximizer will show you other ways to quickly boost the number of miles in your account. It's as easy as shopping, buying breakfast cereal, sending flowers, or even refinancing your house! Visit www.aa.com/max to learn more. Quote Link to comment Share on other sites More sharing options...
Guest powers Posted July 14, 2005 Report Share Posted July 14, 2005 Originally posted by Orion: look, free compound interest! oooo.....and revolving debt! credit cards are sweet! do you even know how to calculate interest? Quote Link to comment Share on other sites More sharing options...
grease monkey Posted July 15, 2005 Report Share Posted July 15, 2005 Originally posted by BIG PAPA: do you even know how to calculate interest?If anyone ever knew how to calculate intrest, it would surely be DJ, I'd recomend that you think things through before you type. Quote Link to comment Share on other sites More sharing options...
OGRE Posted July 15, 2005 Report Share Posted July 15, 2005 I have a sunoco card, get 4% back (have to spend it at sunoco though) it's like getting 4% off your fuel. kinda. Quote Link to comment Share on other sites More sharing options...
Guest powers Posted July 15, 2005 Report Share Posted July 15, 2005 Originally posted by rarest truck on CR: If anyone ever knew how to calculate intrest, it would surely be DJ, I'd recomend that you think things through before you type. HAHAHAHAHAHAHAHA I doubt it. YOU may want to rethink that post. I am still waiting for DJ to tell me how credit cards are compound interest. Back to the tree squirrel Quote Link to comment Share on other sites More sharing options...
grease monkey Posted July 15, 2005 Report Share Posted July 15, 2005 No, I don't need to rethink anything. Sorry that your too ignorant to understand something as simple as credit card intrest. Seriously, how do you think that credit card companies make their money, INTREST. And everyone knows that compound intrest is the best kind for fucking people. So its as simple as that. Next time you use your card, LOOK at the statement, and see for yourself how compound intrest works, since they apparently neglected to teach you that in school. Quote Link to comment Share on other sites More sharing options...
Guest powers Posted July 15, 2005 Report Share Posted July 15, 2005 Originally posted by rarest truck on CR: No, I don't need to rethink anything. Sorry that your too ignorant to understand something as simple as credit card intrest. Seriously, how do you think that credit card companies make their money, INTREST. And everyone knows that compound intrest is the best kind for fucking people. So its as simple as that. Next time you use your card, LOOK at the statement, and see for yourself how compound intrest works, since they apparently neglected to teach you that in school. Well since you are such a smart person why don't you tell me how it is calculated. You won't becasue you can't. That is because you know nothing about money and that is the sole reason you don't have any. I asked him to tell me how he thinks it is calculated. I'm sure 99% of people on this web site think they know how it is done but have no clue including yourself. That is why no one has told me yet how to do it. I loan money to people for a living. I do know. That is why I don't make stupid posts about simple interest and compound interest. How about this, you let the big boys talk about subjects that don't consist of turning wrenches and no one will point out to you that you have no clue what you are talking about. I would be glad to put my knowledge base up against anyone on this web site about interest caluculations and loans. But, I'm sure you know better than I do becasue you deal with it everyday right? Quote Link to comment Share on other sites More sharing options...
04r1 Posted July 15, 2005 Report Share Posted July 15, 2005 Originally posted by BIG PAPA: Well since you are such a smart person why don't you tell me how it is calculated. You won't becasue you can't. That is because you know nothing about money and that is the sole reason you don't have any. I asked him to tell me how he thinks it is calculated. I'm sure 99% of people on this web site think they know how it is done but have no clue including yourself. That is why no one has told me yet how to do it. I loan money to people for a living. I do know. That is why I don't make stupid posts about simple interest and compound interest. How about this, you let the big boys talk about subjects that don't consist of turning wrenches and no one will point out to you that you have no clue what you are talking about. I would be glad to put my knowledge base up against anyone on this web site about interest caluculations and loans. But, I'm sure you know better than I do becasue you deal with it everyday right? OH NOES graemlins/popcorn.gif Quote Link to comment Share on other sites More sharing options...
The Man of Steele Posted July 15, 2005 Report Share Posted July 15, 2005 1$ on Big Stopa graemlins/lurk.gif Quote Link to comment Share on other sites More sharing options...
Mallard Posted July 15, 2005 Report Share Posted July 15, 2005 Originally posted by GSRchick714: If you have 3 and never have a balance on them - just cut it to one that has a big enough limit. I have Discover cashback ....don't get much back but it is free $I've heard that this is not what you want to do. BIG PAPA - Maybe you can clarify this for me, but my roommate was looking to buy a house and he said that for a mortgage when looking at his credit history they frowned on him only having one card. The lady told him to have at least 3, even if he doesn't use 2 of them at all. Above all she told him to never cancel a card if he doesn't use it. Is there any truth to that? When loaning money what factors get people better rates or approved easier? Quote Link to comment Share on other sites More sharing options...
Guest powers Posted July 15, 2005 Report Share Posted July 15, 2005 Originally posted by Mallard: I've heard that this is not what you want to do. BIG PAPA - Maybe you can clarify this for me, but my roommate was looking to buy a house and he said that for a mortgage when looking at his credit history they frowned on him only having one card. The lady told him to have at least 3, even if he doesn't use 2 of them at all. Above all she told him to never cancel a card if he doesn't use it. Is there any truth to that? When loaning money what factors get people better rates or approved easier? What is looked at for some loans is the number of accounts that you have open and active. We call these tradelines. For first time buyers there are usually minimum tradeline requirements of 4 open and active accounts one with a 24-48 month history and all with a limit over 500 dollars and one over 2-5K depending on the lender and loan program. So yes you do want more than 1-2 accounts. The perfect model is 2-3 installment loans 3-5 credit cards or revolving accounts No store accounts/90 days or what ever same as cash No collections all revovling balances below half the limit no lates 6 or less inquiries a year accounts that have been open for 48 months or longer do not transfer balances (again lowers your effective credit age) no new accounts in the last 24 months with the profile you will have perfect credit. Credit is not how well you pay your bills even though that is 33% of it. Credit is a risk evaluation that you will make a 90 day late in the next 24 months. So suprise they care the most about how you have been in the last 24 months. But once you get a good credit score 700 or better you have to then start going into the details to get it to the next level of 800+ which at that point you will not have to prove income or in many case even get an appraisal on the subject property or go to close with any money. You can borrow more than the value of the property in many cases and buy investment properties with no downpayment. As far as closing accounts. If it is a revovling account you will want to keep it open rather than close it. It will lengthen your effective credit history. If you close those accounts they are no longer used as an account you will be scored by unless it had late pays on it then it will follow you for a while. If you have credit cards just leave them open and the balance below half the limit. Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted July 15, 2005 Report Share Posted July 15, 2005 Originally posted by BIG PAPA: the next level of 800+ which at that point you will not have to prove income or in many case even get an appraisal on the subject property.Strange, every loan I see with a credit score of 800+ still requires a an appraisal accompianed by income verification -Marc Quote Link to comment Share on other sites More sharing options...
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