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Credit Card talk


warpspeed

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If it's gotta be a credit card, then Discover would be my choice if you just want rewards. But, pay it off every month. I've never carried a balance, my parents never have, and my g/f doesn't either. If you can't afford it, don't buy it. There's no way around that.

I personally don't use one, but a bunch of family members and my g/f does. I get to go out to eat a ton because she cashing in her reward points for food gift certs. Usually Olive Garden or Pizza Hut - it seems she gets at least $25/month if not more just using the card.

And, when my brother got his wallet stolen last week, Discover called within 3-4 hours to verify charges - he checked his wallet, and sure enough, someone had ganked his cash and 2 other credit cards (neither of them called him). So, the thief/thieves only got away with about $800 of charges after it was all said and done.

I used to use Citibank because they used to give 3% cashback, but good luck finding one with that, most are 1%, or 3% for the first 3 months as a teaser then default back to 1%.

I use a Debit/Credit now linked to a Rewards Checking Account - that's the way to go. 4% interest just for using it - on however much money you want to fund your account with. Hell, it used to be up to 6.01% with a $25k limit. Now I'm with a place with a 4.44% rate with a $50k limit. You just have to be diligent about your money. I chase rates, so I'm moving money often, and most of the time, it's out of state. The only catch, you have to meet their stipulation criteria (10 charges/mo, 1 direct deposit or ACH transaction, using online banking - the last one is easy, but some people have issues with the first two sometimes). I like it because it keeps me liquid, and it's just like having a VISA/MasterCard.

Check out these sites:

http://www.bankrate.com/

http://www.highyieldcheckingdeals.com/

http://www.bankrate.com/finance/checking/high-yield-checking-a-good-bet-1.aspx

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If your just looking for rewards, you can try out like an Amazon.com or buy.com card, we had one for a while and it worked out nice cause they'd send ya 50 bucks per whatever the amount charged was, maybe a grand?? we'd just save em up all year and have a kick ass xmas more or less for free cause you can pretty much buy anything there. Back when I traveled for work alot cause then I could double dip skymiles and hotel points....gotta play the system, just don't let it bite you in the ass like others have mentioned.

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I got a credit card as soon as I turned 18. It had a $300 limit and a horrible APR, but I made sure to use it and pay it off at the end of the month. Now, 5 years later, it has a $12,300 credit limit with a 11% APR. I've used it to spend over $63,000, so that's like $12-13k per year, mostly just daily expenses like groceries, gas, and food. Now I also get cash back on that too, I think it's like 0.8% cash back, so I get $8 back for every grand I spend.

Doing this also got my credit score high enough to qualify for an $8000 credit line with a 6-8% interest rate depending on the balance. At any time I can transfer money from the line to my checking with no fees, same as cash.

Credit cards are great until you abuse them.

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american express sucks. only about 50% of people accept them because of their high transaction fees to the vendors. just FYI

"May I help you? - Yes, do you accept AMEX?

Hey, Lois, Diamond Jim Brady over here

just asked if we accept AMEX.

They're in an exclusive club called anybody.

Yeah. No, no, no, I don't think so.

You know, you know, I would rather take two live chickens

than your fly-by-night credit card.

I would rather take a jar of pennies

that's value was less than that of your bill.

- Look, you don't have to insult me. - No, no, no.

You are going to sit there and listen to the funny things

I would take instead of your credit card."

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If it's gotta be a credit card, then Discover would be my choice if you just want rewards. But, pay it off every month. I've never carried a balance, my parents never have, and my g/f doesn't either. If you can't afford it, don't buy it. There's no way around that.

I personally don't use one, but a bunch of family members and my g/f does. I get to go out to eat a ton because she cashing in her reward points for food gift certs. Usually Olive Garden or Pizza Hut - it seems she gets at least $25/month if not more just using the card.

And, when my brother got his wallet stolen last week, Discover called within 3-4 hours to verify charges - he checked his wallet, and sure enough, someone had ganked his cash and 2 other credit cards (neither of them called him). So, the thief/thieves only got away with about $800 of charges after it was all said and done.

I used to use Citibank because they used to give 3% cashback, but good luck finding one with that, most are 1%, or 3% for the first 3 months as a teaser then default back to 1%.

I use a Debit/Credit now linked to a Rewards Checking Account - that's the way to go. 4% interest just for using it - on however much money you want to fund your account with. Hell, it used to be up to 6.01% with a $25k limit. Now I'm with a place with a 4.44% rate with a $50k limit. You just have to be diligent about your money. I chase rates, so I'm moving money often, and most of the time, it's out of state. The only catch, you have to meet their stipulation criteria (10 charges/mo, 1 direct deposit or ACH transaction, using online banking - the last one is easy, but some people have issues with the first two sometimes). I like it because it keeps me liquid, and it's just like having a VISA/MasterCard.

Check out these sites:

http://www.bankrate.com/

http://www.highyieldcheckingdeals.com/

http://www.bankrate.com/finance/checking/high-yield-checking-a-good-bet-1.aspx

Nice.

I work for Chase, so I guess I have to tell you to get our credit card to keep my job.

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american express sucks. only about 50% of people accept them because of their high transaction fees to the vendors. just FYI

True my friend owns a small business and he won't take American express.

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4.44% on $50k = $183.33/mo in interest.

@Mr. A: If you can somehow wrangle me a Chase card that gives me an extra $200/mo for no other reason than using it, I'll totally switch. :)

I wish. I work there and they will not even lower my interest rate. Once I pay off that card I am going to cancel it and then see if they will change my rates. 24% interest rate on my card.

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The number one reason in the first place for me and a creditcard is to build credit...I have yet to get a loan or anything so I'm sure my credit rating suxors. Not worried about spending too much...mainly use it for gas.

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I have one card.Discover 14% they i turn my rewards into cash and pay towards the balance. Thye up'd it to $50 before u can cash it in latley prolly figured out they were paying me. :-)

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