list your banks and % rates
do they ALL rob us blind?
how many offers do you get in the mail (per month)?
2006-10-17 15:31:39 · 17 answers · asked by theMeganEffect 3 in Business & Finance ➔ Credit
they all suck
2006-10-17 15:32:17 · answer #1 · answered by Anonymous · 0⤊ 1⤋
I get lots of offers, and I have a few cards. I don't really like any particular bank over any other. They all give similar offers based on your credit rating. Most of my rates today are in the 9-10% range. Before I hit 22 or 23, they were a lot higher.
2006-10-17 22:34:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I agree that the fees, if you don't pay your card off monthly, are exhorbitant for almost any card. Check out www.bankrate.com and yahoo credit card section in finance has a good program that will help you find the best card. Mainly, I use Washington Mutual, formerly Providian because of their rewards program. I pay off my card each month and I take the cash. That way I don't have to hassle with airline miles. I got back almost $400 last year. This year won't be quite as much but you have to make sure that you pay off your balance each month or you wont' be taking advantage of the program. No annual fees for these cards. Chase sounds good at 5% on groceries, gas, but there is a fine print. These merchants have to classify themselves as gasoline stations or grocery stores. Won't get 5% at a convenience store or Walmart.
2006-10-18 00:07:17 · answer #3 · answered by MJ 4 · 0⤊ 0⤋
Use bankrate.com to compare offers and rates. Pick a card based first on what kind of credit card customer you are, either a borrower or a convenience user. Borrowers carry a balance and don't pay the entire bill off every month. Convenience users pay it all off every time.
Borrowers should focus on rates (initial, base, and penalty), fees (annual, late payment, overlimit), and grace period (usually 15-25 days). Rate is the most important thing, bar none, for a borrower.
Convenience users should focus on annual fees, grace period and lastly, benefits and rewards.
On rewards, there are two rules to follow: (1) They don't matter if the cardholder doesn't pay off the balance every month. (2) Never, ever, ever, pay an annual fee for a rewards card, no matter what kind of user you are. (Note -- this goes for general consumers -- if you're a business person looking at amex gold cards you should be asking yourself why you're reading this at all.)
Here's the important reason behind my advice on rewards:The banks manage the rewards to have a $ value of about 1% of what is bought with the card. Put another way, if you spend $10000 a year on your card, you'll get rewards worth ~$100. The average credit cardholder in the US carries a balance of just under $10,000. If your bank gives you an interest rate that's a full point lower on a non-rewards card, that's $100 in interest you saved. Banks generally can offer more than 1% benefit to borrowers if they don't have rewards.
Capital One, for example charges an APR nearly 5% higher on their no-hassle rewards card compared to their non-reward card. What's that 5% rate difference mean to the average US cardholder? It means that if a reward cardholder spends $10000 a year, and keeps a $10,000 average balance, they're getting rewards worth $100, but paying $500 in extra interest compared to the folks who went with no rewards and a low rate.
2006-10-17 23:18:10 · answer #4 · answered by Lexton 2 · 1⤊ 1⤋
check out www.kiplinger.com. They have a section on all (major) banks with all their current credit cards rates, fixed, points, etc. All the options you may need are listed there.
My advice - if you carry a balance, roll over to a low interest or 0 % interest rate card and pound away at the payments.
Advice to everyone who reads this. Get your name off of the list that sends out mailers to your for credit card offers. Its an extremely easy way to steal your identity and ruin your credit.
2006-10-17 22:34:10 · answer #5 · answered by anonymous 4 · 1⤊ 0⤋
Chase is a good bank that handles all your credit needs, banking needs etc.
2006-10-17 22:36:07 · answer #6 · answered by LiL Diva 1 · 0⤊ 0⤋
Wells Fargo
you get sweet rewards
i got a digital camera
and my brother got an 80 gig ipod
+ you dont get crap in the mail
2006-10-17 22:34:00 · answer #7 · answered by nnnnn..n 2 · 0⤊ 1⤋
four offers in the mail per month once a week.
I don't know who has the best
2006-10-17 22:33:02 · answer #8 · answered by Lucy Lu 4 · 0⤊ 0⤋
Depends on what type of card you are looking for. You should check out all the Citibank cards. I'm pretty sure that you'll find one that you like.
2006-10-17 22:41:38 · answer #9 · answered by Mr. Main Event 5 · 0⤊ 1⤋
They have targeted to ruin U. In such a case what do u mean which is the best way to get ruined.
2006-10-18 01:09:38 · answer #10 · answered by Loganathan R 2 · 0⤊ 1⤋
chase card pays 5% back on groceries, drug stores and gas stations. 1% on everything else
2006-10-17 22:43:06 · answer #11 · answered by ivory bill 1 · 0⤊ 0⤋