Best Credit Cards? (funds, pay, rate, deposit)

[Dreams2Plans]

OK, so I am still building up my credit (had a late start, lol, long time using cash only).

I do have one credit card that is a few years old. The reason I got it was precisely to build up the record of dutiful payments and such. Thanks to it, I actually got a credit score started and then slowly growing and improving

By no means I'd ever want to have a bunch of credit cards "I don't remember the names of", but I do think it's about time to get another one. With good terms and a little higher-then-minimal credit limit (now that I have proved myself). So, a question to those of you who have recently applied and done their research, as well as those getting new offers in mail all the time: what would be a good choice?

I don't care much for points and miles, cash backs might be nice but not necessary... what definitely important is that they report to all THREE bureaus (some don't, only to one or two instead, resulting in big difference in scores). Another thing would be good to have is a user-friedly managing website, and no yearly fee. Fixed APR is better, right? I have Navy Federal account, but they only have variable rates which are surely to go up, I am guessing. I am also thinking about a VISA. Have one offer for City Diamond Preferred (Master) Card in front of me (shredded all the older offers before)

[jtur88]

For starters, if you need to think about the interest rate on your credit card, DON'T get one.

Use your credit card ONLY to buy what you can pay for by the end of the month. If you carry a balance, you are jumping into a black hole.

If there are things you need but you don't have the money, there are better options. For a car, finance it separately if necessary. Furniture, buy from thrift shops and replace when you have the money.

If you still need a credit card, my experience has been very good with Citi, and very bad with Chase.

[Dreams2Plans]

Originally Posted by jtur88

For starters, if you need to think about the interest rate on your credit card, DON'T get one.

Use your credit card ONLY to buy what you can pay for by the end of the month. If you carry a balance, you are jumping into a black hole.

No, I never buy anything I can't buy with cash available at that very moment. My cars had always been bought used and with cash. As I mentioned, I only need cards to build up credit. I also pay it off very month. BUT, as I am planning to keep it for a good, long time - who knows what might happen in the future and if I would ever need to use card for emergency (or cash for something else), it's better to have a lower interest rate then not.

Originally Posted by jtur88

Furniture, buy from thrift shops and replace when you have the money...

Hey, I am a super-saver and life-long thrift-shopper. I HAVE everything I need and have cash to buy something else as needed (used and on sale, lol). The only thing I CAN'T buy with cash - is real estate. And that's what I need a good credit for.

Originally Posted by jtur88

If you still need a credit card, my experience has been very good with Citi, and very bad with Chase.

thanks for the tip!

[CaptainNJ]

Originally Posted by jtur88

For starters, if you need to think about the interest rate on your credit card, DON'T get one.

yeah, i never care what the APR is because i will not pay credit card interest. thats a losers game right there.

i also find the idea of reporting to credit bureaus being a primary factor very strange. ive never thought about that and my credit is excellent.

finally, i like cash back cards. i dont like to worry about whether or not im using miles/points in the best way so a cash back card makes it simple. my primary card is the fidelity american express retirement rewards card. it gives me a flat 2% cash back on everything (i believe special rates on rotating categories). i like that it is on everything because i dont like thinking about where to spend my money to get the best return. besides, generally the categories with the best return arent adding up to a lot of money anyway. the money gets deposited directly into my fidelity account monthly (doesnt have to be a retirement account).

[Dreams2Plans]

Originally Posted by CaptainNJ

i also find the idea of reporting to credit bureaus being a primary factor very strange. ive never thought about that and my credit is excellent.

it may not seem as strange when you consider that my credit history is only a few years old and I have been purposely working on building it -the sooner, the better!
I don't want to wait until it "just happens" 20 years from now. I have already lost plenty of time using cash for everything.
And, my very first card turned out to report to only ONE bureau, that's how I know of this pitfall. Most major cards probably don't do it, as well as most people do not /need/ watch their credit report so closely

Originally Posted by CaptainNJ

finally, i like cash back cards. i dont like to worry about whether or not im using miles/points in the best way so a cash back card makes it simple. my primary card is the fidelity american express retirement rewards card. it gives me a flat 2% cash back on everything (i believe special rates on rotating categories).

thanks!
I am also leaning more toward cash-back cards

[Tallysmom]

Originally Posted by HappyNewMe

No, I never buy anything I can't buy with cash available at that very moment. My cars had always been bought used and with cash. As I mentioned, I only need cards to build up credit. I also pay it off very month. BUT, as I am planning to keep it for a good, long time - who knows what might happen in the future and if I would ever need to use card for emergency (or cash for something else), it's better to have a lower interest rate then not.

Hey, I am a super-saver and life-long thrift-shopper. I HAVE everything I need and have cash to buy something else as needed (used and on sale, lol). The only thing I CAN'T buy with cash - is real estate. And that's what I need a good credit for.


thanks for the tip!

Credit card rates are pretty negotiable, especially after you've had the card a while and have proven yourself to be responsible. I've had a number of cards that raised rates on me, and I talked them down to something reasonable, until I realized I never pay the interest, so I don't care what they charge me.

So I wouldn't worry about the rate, until you need to worry about the rate.

[debtmonger]

The best credit card is the one that's just been run through the shredder.

[Dreams2Plans]

Originally Posted by debtmonger

The best credit card is the one that's just been run through the shredder.

...for irresponsible person who can not control their urges - maybe.
Either way, shredded but with an account OPEN - helps the credit (which is what I am looking for). So, still have to open that account, even if just to shred the card afterwards

Originally Posted by Tallysmom

So I wouldn't worry about the rate, until you need to worry about the rate.

you guys talked me into it - no worries about the rate!
(It wasn't too high on my list of worries, anyway)


Completed my CitiCard offer applicaion - got another account started!

[thepinksquid]

Credit cards are excellent tools if used properly. I've probably made over $1,000 in cash back rewards since getting my first card for purchases that I would have made anyway. I've only paid interest a few times, and probably could have avoided it altogether if I tried harder.

Here are the current cards I carry and what I think about them:

Citi Platinum Visa - Totally crap card, I never use it. However it is also my oldest card so I just keep it around because I've had it almost 8 years now. The rewards program requires you purchase things in the Citi online store using a combination of points and your own funds. You can't just redeem the points alone. The only plus is that they seem to offer decent balance transfer offers, though I've never used them. I never run a balance but it has an awful interest rate--around 20%. No annual fee.
American Express Blue Cash - Excellent warranty extension and purchase protection. I think I get 1% cash back on groceries and gas, and the rest is .5%. I don't use it much. You might consider the "premium" version of the card that gives a whopping 6% cash back for groceries and like 3% back for gas; however it has like a $75 annual fee--but that could be made up for with groceries. No annual fee.
Chase Freedom MasterCard - Got it a few years ago for the 0% intro rate. It has "revolving" categories that you have to sign up for, but some are pretty good (5% cash back on gas, for example). For some reason this card has a very small limit for me, I don't use it much. No annual fee.
USAA World MasterCard - Another card with excellent purchase protection and warranty extension. Very straightforward reward system, 1 point for every dollar earned, and you can start redeeming points at 1000 I think. Currently our "everyday use" card. Super low interest rate and huge limit. No annual fee.
Discover More - Totally awesome card. Originally opened it for a small balance transfer and there was NO balance transfer fee, and 15 months at 0%. Same thing as the Chase Freedom in that there's revolving cash back categories. One awesome thing is that if you shop at Amazon you can use your current cash back amount, no matter how small, instantly to pay for things on the site--it links with your Discover account. No annual fee.
Chase Sapphire Visa - Just got this card. I won't lie, I did it because they were offering a $300 bonus with first purchase. Probably won't use it much, except for airfare (I think it offers 5% back). This card is catered towards traveling/leisure. No annual fee.

Hope that maybe helped a little!

[jtur88]

I have the Citi Dividend World Mastercard, and my wife has a Shell (Oil Co.) card issued through Citi, which was originally for gas purchases only, but is now her everyday card. We've had both for about ten years. Neither of us has ever had any problems at all with Citi, they are easy to talk to a CS human. and the humans are pretty decent and helpful. Both have cash back. Mine mails me a check, hers applies the cash back to her balance. No annual fees.