Apparently, there are so many credit cards out there to choose from that deciding which one to get can feel really daunting. But really, what makes one offer better than the hundreds of others you’ve seen?
2006-11-07 02:54:16 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Boy Oh Boy. Here is the perfect answer...
DON'T get a credit card.
It is the number one American Financial Woe.
ALL the contracts include interest rates as high as 27% once you miss your first payment...AND THEY DON'T HAVE TO TELL YOU THAT IN THE CONTRACT. THEY ALL CAN CHANGE AT ANYTIME. They have the loopiest contracts. And they don't have the same credit controls as a bank.
I don't have a credit card. I have a debit card. I spend money I have and I never go overboard. Every single one of my friends has had a major credit card problem.
Get a credit card ONLY if you can make payments in a timely manner. Otherwise you'll get screwed.
Oh, BTW, I used VISA at an ATM in Central Africa so it is Everywhere you want to be
Mastercard was the former American Standard
American Express has no limit (DANGEROUS!!!)and is hard to get accepted everywhere.
and Discover is the card that pays you back...sometimes.
They are great for emergencies, but often become bigger problems than the problems they solve.
DEBIT CARD! Debit Card! DEBIT CARD!
But it offers less protection against theft.
I leave most of my money in my savings and flip in over at an ATM before using it. This also helps me spend a lot less.
Good luck, but you've been warned.
The Bible also prohibits money lending with interest, but who reads that anymore.
2006-11-07 03:02:33 · answer #1 · answered by Anonymous · 0⤊ 1⤋
If you log on to www.bankrate.com you can compare different credit cards that you can apply for.
I don't think there is anything wrong with having a credit card vs. debit card. Having a Visa/MC credit card will help build your credit if that is what you are looking for. Beware of the cards that charge you a "Annual Fee" or "Membership Fee" ...why should you pay them to have a credit card?
I would not recommend Department store cards....the interest rate is too high on those cards and the "Save an additional 10%" they offer to open a card is not worth it.
Good Luck!!!
2006-11-07 03:54:49 · answer #2 · answered by Jen G 3 · 0⤊ 0⤋
You have to decide what you want. You generally want a card with no fees (unless it has some reward you really want, such as miles). You can get lots of no fee cards that offer cash rewards. Try www.citicards.com. I like the Dividend card and the Diamond card. If you dont qualify for those, the Simplicity card is awesome (but I dont think it has rewards).
2006-11-07 03:09:34 · answer #3 · answered by Annette J 4 · 0⤊ 0⤋
You have to look for these:
Annual card fee - interest rate, lower is better of course but it is up to your credit. And what the card can offer. Rewards or savings...
The best is American Express. You have to have a certain credit score but they have many type of cards. They also protect you as customer.
2006-11-07 05:23:58 · answer #4 · answered by Robag 1 · 0⤊ 0⤋
Depends on your needs. Are you going to pay it off each month? If not, look for 0% intro APR and a low APR after that. If you are going to pay it off every month... anything goes. Personally, I like the cards that give you cashback. I like Citi's card that gives you 3% cash back for groceries, gas, utilities, etc. Unfortunatly, it used to be 5%, they lowered it last month. Just go to different sites and look and the benefits of different cards.
Citi
Discover
American Express
Chase
etc.
2006-11-07 04:06:16 · answer #5 · answered by amanda 3 · 0⤊ 0⤋
visit this website, www.lowermybills.com check out the credit card section! Lots to choose from and compare.
2006-11-07 04:12:45 · answer #6 · answered by Anonymous · 0⤊ 0⤋
There is some useful advice here.
2006-11-10 21:04:57 · answer #7 · answered by Anonymous · 0⤊ 0⤋