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March, 2024

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Best credit card

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bakedpow
Posts: 8770 - Karma: 10,462
I am looking to get a first credit card and have looked into a few different options. i travel a lot but it seems as a lot of the air miles cards iv found would not be the best option as a first card. i also looked at cards like the citi dividend platinum, bankamericard cash rewards, or the discover it. so newschoolers, what cards do you carry and for what purpose?

I know this has been posted before, but have not been able to find the thread.
Apr 20 2014 8:23PM
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Wizerd
Posts: 908 - Karma: 6,694
Let me have your credit card number so I can see
Apr 20 2014 8:27PM
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integralmgmt
Posts: 476 - Karma: 921
CapitalOne Venture gives you 2x miles on everything and has a pretty low APR. I'm pretty sure international transactions are free too.
Apr 20 2014 8:27PM
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bakedpow
Posts: 8770 - Karma: 10,462
also rewards cards like chase freedom, and capitol one cash rewards
Apr 20 2014 8:27PM
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applejuice.
Posts: 5506 - Karma: 1,512
I love my Amex.
Apr 20 2014 8:29PM
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bakedpow
Posts: 8770 - Karma: 10,462
applejuice.I love my Amex.


the everyday card?
Apr 20 2014 8:32PM
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applejuice.
Posts: 5506 - Karma: 1,512
Bakerpowthe everyday card?


Premier rewards gold card.
Apr 20 2014 8:45PM
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BrewskiJr
Posts: 5738 - Karma: 1,478
Capital One > Chase credit cards. Chase gets you 2% on different things every month. Capital One is 1.5% all day.

I've had mine for about 1 year and with bonus rewards I have $300 in rewards cash i can use towards whatever i want. I might buy a flight and use the rewards to cancel out my cost
Apr 20 2014 8:47PM
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deleted5
Posts: 14507 - Karma: 13,500
applejuice.Premier rewards gold card.


Get a centurion or get the fuck out you peasant.
Apr 20 2014 9:34PM
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last_tango
Posts: 2635 - Karma: 2,665
Just go with something from a credit union that is a co op branch.
Apr 20 2014 9:45PM
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Mama.
Posts: 3066 - Karma: 2,605
Ha, Doug is looking at this too. IRONY.
Apr 20 2014 10:26PM
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bakedpow
Posts: 8770 - Karma: 10,462
Mama.Ha, Doug is looking at this too. IRONY.


hey we all gota start somewhere? amiright?
Apr 20 2014 10:30PM
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DIPED_IN_SAUCE
Posts: 858 - Karma: 2,256
Honestly I like a debit card for every day... my Chase doesn't have travel fees in most countries, and is just convenient to not make payments. I get having a credit card, but I wouldn't use it for day to day purchases. just my .02
Apr 20 2014 10:31PM
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Mama.
Posts: 3066 - Karma: 2,605
Bakerpowhey we all gota start somewhere? amiright?


EGGGSACKTLY
Apr 20 2014 10:31PM
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JordanButtfart
Posts: 1013 - Karma: 3,027
Black Visa is my preferred card.
Apr 20 2014 10:32PM
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bakedpow
Posts: 8770 - Karma: 10,462
DIPED_IN_SAUCEHonestly I like a debit card for every day... my Chase doesn't have travel fees in most countries, and is just convenient to not make payments. I get having a credit card, but I wouldn't use it for day to day purchases. just my .02


it's more to build a good credit history than anything. im not planning on spending a ton, really just to buy groceries and gas. everything else will be a debit card, unless it's something i get points on etc.
Apr 20 2014 10:44PM
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t_rob
Posts: 6433 - Karma: 11,458
The biggest question with a credit card is can you pay your bill in full every month? After that you get into things like foreign transaction fees, card network (visa, amex, discover), credit limit, apr, and rewards. Don't think about rewards before you can ask yourself why you even want a credit card in the first place.

I have an amex blue cash everyday. I only charge a few hundred dollars a month on it (mostly gas) and pay it in full. The amex app, site, and online billpay are amazing. I went the amex route because I basically buy everything on my debit card which is a visa and didn't see the need to have another visa in my pocket.

Look into student cards. I don't know much about them but everything I've read says they help a lot of people secure lower rates than you'd expect someone in similar financial positions to be able to secure.
Apr 20 2014 10:59PM
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p.hawks
Posts: 2832 - Karma: 581
threads, I'm also looking to get one and start building some credit. I will be paying it off in full every month, and it would mostly be for internet purchases (amazon, newegg, b&h), and food. Pretty much I want to start building some credit, and it would be convenient to not have every internet purchase I make get screened by my mom. I'm thinking a cash back would be best, no/low yearly fee would be nice, and I don't really care about interest rate because it won't affect me.
Apr 20 2014 11:17PM
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eheath
Posts: 61100 - Karma: 118,254
I'd recommend getting a card through your bank as your first card, helps you build credit faster and your bank will be stoked to hook you up. My bank visa is a cash back card and my cashback just gets deposited into my account, its a nice surprise every month.

I got a Delta Amex this fall, I like it, it cost $95 but if you travel on a plane twice a year, it pays for itself with the free bag I get on delta flights. Plus, if im travelling with someone else I can get them a free bag too. Purchasing from delta.com gets 2x pts and 1x pts for every other dollar plus 30k miles when you sign up is a free flight, its solid.
Apr 20 2014 11:41PM
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Dirac
Posts: 1304 - Karma: 335
Get a card from your bank that has no monthly fees. If if comes with extras like airmiles or something, that's cool as well, but never pay extra for the "premium" air miles or anything.

If you use your CC as basically a debit card, and have no fees, then airmiles is like getting free stuff.
Apr 20 2014 11:47PM
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Parks.
Posts: 5612 - Karma: 1,093
i just got the travel rewards card from B of A. for every dollar you spend, you get 1.5 points, so after a while you can buy plane tickets or even tickets to an amusement park. there are no international fees when used outside of your country. it also has the smart chip technology, a lot of countries don't accept the magnetic strip reader like in America, so this lets you use both the magnetic strip or the smart chip technology. these are just a few things that come to my hear and are what drew me to the card, if you want some more info I'm sure i can provide more. happy credit card hunting
Apr 20 2014 11:54PM
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Ehh...
Posts: 1897 - Karma: 1,423
Here are some things to think about for a credit card -

Are you in it to establish credit or earn points?

If you are wanting to earn points - I might suggest the Starwood hotel card from american express. The reason being is because you will earn points that you can spend on at hotels AND airline miles. Not just exclusively one or the other. Works at 8 hotel brands.

If you are in for just acrewing membership also I would look into an AMEX Costco card. The annual fee is wrapped into the cost of the Costco membership so it is definitely worth it because it kills two birds with one stone and i believe their are perks if you spend it at Costco as well.

If you are just looking for a basic cred card though you cannot go wrong with a discover card or a visa card as they are basic and often won't have an annual fee but your credit limit will be lower and they will rape you interest if you don't pay it off in the end of the month.
Apr 20 2014 11:55PM
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acualywasdolan
Posts: 1172 - Karma: -747
This thread reminds me of the american psycho business card scene
Apr 21 2014 1:18AM
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KrazyistKarl
Posts: 1725 - Karma: 599
I should have gotten on a better points card years ago.
I average $2500 a month on the visa, which is just a basic RBC card. Threads for more input
Apr 21 2014 1:29AM
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KrazyistKarl
Posts: 1725 - Karma: 599
KrazyistKarlI should have gotten on a better points card years ago.
I average $2500 a month on the visa, which is just a basic RBC card. Threads for more input


Okay maybe not 2500, that's a high month. Usually closer to 2. Regardless, I need a points card.
Apr 21 2014 1:34AM
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bakedpow
Posts: 8770 - Karma: 10,462
im pretty much only in it to gain credit right now. having one that gains me points or cash back on gas/groceries/school stuff would just be a bonus.
Apr 21 2014 2:20AM
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pat_in_the_hat
Posts: 3019 - Karma: 2,695
then just go into a bank and tell them that. my first card was with wells fargo. I went in, told them Im a young person looking to gain credit.
They gave me a wells fargo card that has horrible apr, but would gain great credit if I used it "appropriately".
So the banker told me to just leave the card in a safe place at home and dont use it. That way it is gaining me credit without even using it.

Bottom line, A bank is a much better place to learn this stuff then a website full of 12 year olds with their parents credit cards.
Apr 21 2014 11:24AM
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Laurent.
Posts: 10054 - Karma: 25,277
Any colour as long as it's black.

Apr 21 2014 11:39AM
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icculus.
Posts: 749 - Karma: 3,963
JordanButtfartBlack Visa is my preferred card.


racist
Apr 21 2014 11:59AM
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0123456789
Posts: 9226 - Karma: 148
i just got a bank of america cash rewards card, its sweet no apr for first 12 mths
Apr 21 2014 1:48PM
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deleted5
Posts: 14507 - Karma: 13,500
I also just got a magnises it's a pretty awesome card but it only is worth having if you live in New York City. https://www.magnises.com
Apr 23 2014 1:15PM
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CaptainObvious.
Posts: 5711 - Karma: 20,627
t_robThe biggest question with a credit card is can you pay your bill in full every month?


FDMthey will rape you interest if you don't pay it off in the end of the month.


The most important thing to do is look at your credit card as the following:

A) A safer means of transactions besides cash
B) A way to earn rewards on your everyday purchases
C) A way to build up your credit for any big-boy activity that requires a credit check

There is one thing you should never look at your credit card as:

A) A method to purchase something you can't afford
B) Free money to buy stuff you can't afford
C) Any way to purchase things you don't have cash in hand for

You get a credit card with some cool rewards that are pointed toward your interest and NO annual fee. You don't care about interest rate because you never go a month without paying your credit card off in full. Ever. All of your transactions go through your credit card because if someone steals your debit card shit (i.e. the Target scam on the blackest of Fridays) they have access to the entirety of your personal information. Meaning they can steal not just your money, but your identity. If they get your credit card number, you change the card number and you're fixed.

TL:DR - Get the coolest credit card rewards you can find with no annual fee. APR doesn't matter because if you don't plan to pay off your credit card in full every month, you shouldn't have a credit card.
Apr 23 2014 1:52PM
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Chunter
Posts: 2050 - Karma: 1,894
omnidataAny colour as long as it's black.



Dayum Ibra out here balling.

icculus.racist


I prefer the term african american express.
Apr 23 2014 2:00PM
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SoCore
Posts: 141 - Karma: 222
I would say hands down the best bang for your buck is the Chase Sapphire Preferred
Apr 23 2014 4:43PM
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p.hawks
Posts: 2832 - Karma: 581
I'm gonna be applying for one soon, so I figured I'd bump this. I'm leaning towards a Capital One Quicksilver card. No annual fee, 1.5% back on everything. One alternative is the Chase Freedom, because it has 5% on some things, but I don't think I will use it much for those.

I am a student, so this card will be for internet purchases (ebay/amazon/bhphoto/clothes), sometimes for food, and a lot a the liquor store/opening tabs at the bars. I will also use it for a ski pass and that stuff. It will always be paid in full, and I think the Capitol One Qucksilver looks like the best card for me, but if anyone has any alternatives, I would love to know.
May 29 2014 2:05PM
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DaffyDaDak
Posts: 864 - Karma: 433
American Express Centurion Card is my preference
May 29 2014 2:14PM
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.undetected
Posts: 1076 - Karma: -445
pussyfooterI'd recommend getting a card through your bank as your first card, helps you build credit faster and your bank will be stoked to hook you up. My bank visa is a cash back card and my cashback just gets deposited into my account, its a nice surprise every month.

I got a Delta Amex this fall, I like it, it cost $95 but if you travel on a plane twice a year, it pays for itself with the free bag I get on delta flights. Plus, if im travelling with someone else I can get them a free bag too. Purchasing from delta.com gets 2x pts and 1x pts for every other dollar plus 30k miles when you sign up is a free flight, its solid.


This. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
May 29 2014 3:14PM
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AT-AT
Posts: 3281 - Karma: 3,256
I'm looking to get a new credit card myself. A points/cash back card. I have a credit through my bank and have had it all through college. My credit is good, am debt free, and am just looking for a way to get some rewards for my monthly purchases. I spend about 1000 a month, sometimes much more if i'm traveling for business. Anyone have some suggestions?
Jun 23 2014 3:29PM
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Kooky_Lukey
Posts: 1002 - Karma: 1,966
If you have USAA then go with USAA. You can pick rewards you want, cash back, travel, etc... low rates, real nice.
Jun 23 2014 10:33PM
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theabortionator
Posts: 51261 - Karma: 157,426
I'm finally planning on getting one but I'm just going to get one through my bank. I don't give a fuck about rewards honestly. I plan on only using it for gas and groceries and then paying it off. Maybe for a big purchase here or there that I would normally use my debit card for.

Even with my debit card I prefer to pay in cash. I rarely use the card. I figure I'll force myself to use the credit card a little bit and try and build credit. I'm not going on the american dream credit card binge to fill my house with a bunch of useless shit.

/not really cool story
Jun 23 2014 10:46PM
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kingsskier
Posts: 6212 - Karma: 2,101
A credit card through your bank/credit union are the safest and easiest but less rewards.

Air miles are a joke unless you fly for work or personal out of the country a lot. But if you're flying out of the country a lot, you first credit card probably won't have a limit that can support that. It literally takes tens of thousands of miles to earn a in country round trip flight.

I got one through expedia and the discount on the site was nice. Amazon also has nice offers. But you're going to get at most 3% reward, so try to get one that gets you a discount somewhere you frequently use.
Jun 23 2014 10:47PM
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Tinga
Posts: 11349 - Karma: 2,333
I got my credit card through my credit union and I got a great rate for being a first time credit card user. I have a pretty low limit but I don't make very much money so I shouldnt have a high limit.
Jun 23 2014 10:59PM
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theabortionator
Posts: 51261 - Karma: 157,426
kingsskierIt literally takes tens of thousands of miles to earn a in country round trip flight.



I never understood stuff like that. I mean it makes sense as it's easier to take advantage of people but it doesn't make any sense.

You could be flying 1,500 miles total round trip but need like 15k miles to do it.
Jun 23 2014 11:02PM
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JOP177
Posts: 392 - Karma: 424
I've got a Discover card that I really like a lot. I wanted to get a credit card to begin building credit in anticipation of buying a condo in a few years and Discover was the only company that accepted a college kid without a previous credit history. I have automatic bill pay set up on it so I never need to worry about missing payments, or forgetting to send in a payment.

In addition, the shop discover online store is incredible - basically all you have to do is log into your account on discover, get directed to a merchant's website through the discover website, and you earn anywhere from 5-20% cash back on your purchase. In addition, each quarter is a bonus 5% cash back on certain categories, but it's usually pretty good (ie, Q4 was online shopping - right in time for Christmas). You also get your credit score on your bill which is nice - let's you know how you're doing in terms of building a strong credit history.

If you're thinking of getting a discover card, pm me - If I refer you and you apply through the link I send we both get $50 cash back.
Jun 23 2014 11:12PM
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JOP177
Posts: 392 - Karma: 424
Also, some people have mentioned not having a high limit, but in terms of building a strong credit score, you want to be aware of your credit utilization (how much of your available credit you're using). For example, I believe I'm very responsible with my credit cards and don't charge what I can't afford. That being said, I ask my credit card company to raise my limit every few months. This leads to me utilizing less of my available credit, which among other factors, generates a stronger credit score. Hope that helps.
Jun 23 2014 11:17PM
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caucasian_chad
Posts: 4078 - Karma: 3,625
I have 3. An Amex Blue Cash Everyday, which gets 3% back on groceries, 2% back on gas, and 1% everything else. I only use it for gas and groceries. I have a Capital One Quicksilver that I use for everything else, which gets 1.5% cash back across the board, and a Wells Fargo College credit card which I no longer use for anything, but hold onto because doing so improves my credit score.

The keys to using credit cards to your benefit, at least from my experience, are:

-Treat the credit card as you would your check card. Don't buy more stuff just because you have one. I find that Mint.com works well to track your finances, because it shows the aggregate value of your credit card debt right next to your aggregate money in the bank. Obviously, keep the bank number the higher of the two at all times.

-Always pay your balance in full except in an emergency. In an emergency, where you must carry over a balance, be smart. Charge on your lowest interest card. Take advantage of a 0% intro offer if possible. Make paying down your credit card your top financial priority until it's done. Eat only ramen and peanut butter sandwiches if need be.

-Learn how credit scores are calculated and use that information to use credit cards in a way that will give you a high credit score. I'm not gonna go into detail here because it's complex, but it's pretty easy to manipulate your credit score upward by doing certain things. If you sign up for creditkarma.com (free), it pretty much spells it all out for you and gives you a free credit score every so many days so you can track your progress.
Jun 24 2014 12:07AM
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no_steeze
Posts: 23992 - Karma: 4,270
If you get a Chase Sapphire account they give you a card literally made out of metal...so you'll have that going for you
Jun 24 2014 12:12AM
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kingsskier
Posts: 6212 - Karma: 2,101
theabortionatorI never understood stuff like that. I mean it makes sense as it's easier to take advantage of people but it doesn't make any sense.

You could be flying 1,500 miles total round trip but need like 15k miles to do it.


It's just like getting 1% cash back type of deal. They give you a low percent miles back. But you literally need to fly around the globe a lot to earn miles. I bought all of my flights from my last employer and had them reimburse me, instead of them paying for it up front. I flew a ton and just barely have two round trip flights within the lower 48.

Also, keep your balance (ideally paid off monthly), but below half of your limit. Credit cards only report a bad month if you maintain a balance over half your limit.

I buy anything with my credit card that I would normally pay cash for, and instantly go home and pay it off so no interest accrues and my reward points go up. I just got a $1000 best but gift card with reward points. I was going to buy a car with cash and put it on my cc and just paid it off instantly, so I got a lot of reward points.

Also, for anyone interested, utility companies (water, electric, gas) almost always don't report to the credit bureaus. So, if you're short one month, make those your first to skip. They won't shut them off on you for missing one month and it won't hurt your credit score. This helped me in college a few times.
Jun 24 2014 12:18AM
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TheQuailman
Posts: 7381 - Karma: 144
I just got the Chase freedom card and as long as I spend $500 within the first three months of activating it, I get $200 back which is an incredible deal.

You need to decide if you want a rewards or a cash back card. In my opinion, the rewards are generally going to be a higher dollar amount but limited in use (such as for frequent flyer miles or for certain stores). Personally I'd rather have the flexibility of getting cash back rather than store credit for places I might not want to waste my money on.

Another decision you will want to make is whether you want a card with a lower interest rate. Generally, this isn't a huge factor since the interest rates will all be high. The best personal finance advice to give anyone is to ALWAYS pay your credit card bill on time because the interest they charge is insane.

Lastly, there are some premium-type cards that have features like more reward points (and the chip in the card which is now required for purchases sometimes in Europe). These cards typically have annual fees and are only worthwhile if you travel a lot and spend a lot.

The major card companies have somewhat similar card offerings so I wouldn't go crazy trying to find the perfect deal, it's also important to consider customer service and ease of use.
Jun 24 2014 3:58PM
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theBearJew
Posts: 10951 - Karma: 15,633
integralmgmtCapitalOne Venture gives you 2x miles on everything and has a pretty low APR. I'm pretty sure international transactions are free too.


Bump. I am too deciding for a new card. The one I have now gives me 1 pt for every dollar I spend. There are cards out there that give way better rewards than that.

I pay my balance every month so I don't care with the interest rate is, looking for miles/point rewards. I travel alot but not married to one airline so that makes he hesitant on a delta card.

Right now I'm looking at the CapitalOne Venture card mentioned above because of the 2x miles and the Barclaycard Arrival PlusTM World Elite MasterCard. It also gives you 2 pts per dollar spent on everything everyday and when you use your points you get 10% of them back. Basically giving you 2.2% back.

Barclay annual fee is $89 and waived in the first year and CapitalOne is $59 but also waived in the first year.
Jan 30 2015 6:09PM
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Mr.noodle
Posts: 1361 - Karma: 4,650
To know what best fits you can I have your social security number, bank number, and your mothers maiden name?
Jan 30 2015 6:34PM
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