What's the best credit card to get?

Question

Please don't tell me "None" for an answer. What's the best card that give you the best rewards and easy to pay off online? Where did you get it?

ok ok, I pay off my credit card every month. I have never had to pay interest because i'm never late.... so, I just wanted to see some cards that would reward me. ex. the paypal card give you 25 dollars for every 2000 dollars you spend... not a lot, but better than nothing.

Answer 1

you might want to go here to compare them http://www.bestcreditrates.net

Answer 2

Hi, I've done quite a bit of research recently on this. Like somebody has suggested before me, credit cards can be pretty bad if you misuse it - it encourages you to spend money that you don't have; however, if you handle your in's & out's well, why not reward yourself as well as keep the cash in your pocket for an extra month or so for basically free?

The "best" credit card depends on how you are intending to use it; if you are intending to clear the balance monthly then there is no point shopping for the lowest rate! You should look for ones that doesn't charge you an annual fee (Virgin), or a decent enough reward program that can help you clock up enough points to waive that fee (HSBC). Look at how long the statement cycles are and idealy find a card that also gives you the longest interest free period (note that interest free periods only exist if you clear your balance every month). Reward program-wise I think the Citibank series captures the younger gen's liking more while as HSBC's seem to appeal more to the family with all that insurance credits & granny hotel deals etc? (This you better check out yourself)

The opposite is obvious enough; if you are intending to clock up a bit on the card... find a low rate card (if you must have a credit card)! There are quite a few low rate or 0 rate cards hanging around it shouldn't be difficult to figure, however the same points mentioned previously apply. If there are intro rate period make sure you check out the fine prints cos the real rate could differ vastly!

However, I would recommend against the credit card if you are not intending to clear the balance monthly. Most people don't realise what you pay is actually higher than the advertised rate if you don't clear your balance monthly! (It works out to be something like 15% if you make the min. repayment on an advertised 12% card!!) Reason being interest will be calculated on not just the amount you spent, but on the interest of the amount you spent... that's how it rolls big. You should be looking at a revolving line of credit (something like Citibank's personal credit line product) where interest is calculated only on the amount you spend. The theory with these is basically the same as a home loan, the earlier you pay it off the less interest it accrues. This might sound dumb but different credit card company calculates the balance differently (better not go into any more detail here), and a revolving line of credit calculates interest by the day - which means don't wait till the end of the billing cycle to pay it off! Pay it off when you can!

A few more tips:
* Read some forum and get a general feeling of what the services of the companies are like, bias as I am... I recommend against anything from GE.

* If your bank offers a decent credit card, its worth sticking with them - you can start to build a good credit account with them and it will help towards you financing with them in the future.

* Don't take out too many cards... as they all appear on your credit report! Too many enquiries on your report hurts your credit score (and it hurts alright...)

Enough said... good luck with your credit shopping.

Answer 3

I'm not an expert but I have been reading a lot about this sort of thing lately. A lot of sources suggest having and keeping one card for a long time. On a credit report, it helps to have a card that you've kept open for years and years and years. Shows a good history I guess.

And it is good to have one card you charge on each month - for example, using it to pay your cell phone bill or gas. Just be sure to pay it off each month in full. From what I understand, it is important to have a card and use it to establish credit.

If you are tempted to use the card too often, don't carry it with you. Just use it to pay a re-occuring bill like a phone bill. That way, it's charged each month, you can pay it off each month but it's not sitting there when you see something you really want but can't afford.

If you must carry a card, get a Visa debit card that draws from your checking account. You can use it as a credit card but without the debt. Just keep good track of it so you don't overdraw your account.

The debit card is great for things you must order online, for airline tickets, etc. as well as for day to day things.

And begin a savings account if you don't have one already. Put away what you can each paycheck - even if that's only $5. Consistency is important. This way, if you have an unexpected bill or emergency, you have cash available.

As for the best card, I agree - it depends upon what you wish to use the card for.

Answer 4

I like my Discover Card. I got 18 months 0% intrests and then 7.99%. The cash back on puchases is kind of gimmick, but the intrest rate is good and there's no annual fee. Website is easy to use and easy to change passwords. They have on-line security program that allows you to use card but never have your actual discover card number on the web.

Everyone should have a credit card - if nothing else than just for emergencies. Look at the card tracking websites for information, contact numbers and comments.

Answer 5

sorry but the answer is none. the rewards myth is a marketing ploy to get you to use the card... to get in debt. to spend money

there is no such thing as a good credit card. save up and use cash, or don't buy the item.

Answer 6

I have a Citi Master Card free .... no fees.
I get points toward the purchase of a car. Got a check of $1600 last year when I got a new vehicle. That was a good one.

Answer 7

You can find some great cards here:

http://aaacreditguide.com/credit-cards.html

Answer 8

The kind that fits best into a shredder. DON'T USE CREDIT.

Answer 9

Orchard bank, chase, capital one

Answer 10

of course I tell you 'NO credit card' is the best one!

:-)

Answer 11

Get one with happy puppies on it or a race car.