Which credit card?
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Which credit card?
OK, so I am looking for my first credit card. I know I don't really need one, but I figure I could use it to start a line of credit and to have around for emergencies. My problem is picking the right card for me. Anybody have any advice, or know of any websites that I could compare cards on?
New User
Joined: Jan 2008
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What Bank do you deal with now ?
Is it VISA or Mastercard affiliated ?
If it was me <> i would get the card that YOUR bank is affiliated with.
Stay away from Amercian Express whatever you do.
Some cards have lower annual fees (some don't have any) and some have lower intertest rates.
Is it VISA or Mastercard affiliated ?
If it was me <> i would get the card that YOUR bank is affiliated with.
Stay away from Amercian Express whatever you do.
Some cards have lower annual fees (some don't have any) and some have lower intertest rates.
Senior User
Joined: Jun 2002
Posts: 193
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From: Western Slope, Colorado
As far as line of credit you can get one attached to a checking account for over draft protection and join up a debit card with that. If building credit is the object having a credit card can help if you manage it properly i.e. paying off the balance monthly. There are other types of credit that can help you build a credit score. At the time I bought my first house I had never had a credit card, my credit score was good enough for a very decent rate. Also when the mortgage company looked into my debt I had none – 0, only one car loan that was paid off, they had no problem saying yes.
Post Fiend
Joined: Dec 2005
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stay away from the debit card stuff, it doesn't build your credit and if there is fraud or a miscalculation on a paymen...well...good luck getting your money back on fraud and it will take time for a company to correct a mistransaction, hope you don't need the money.
i started out with a $300 credit limit capital one card, then after awhile i ditched that and got a chase card which now has moved up ito the thousands of dolars range for credit.
i use my card all the time, i pay it all off online at the end of each month so they don't hit me with that interest.
visa is the best as far as i can tell, readily acceptable all over the world unlike american express and mastercard.
i started out with a $300 credit limit capital one card, then after awhile i ditched that and got a chase card which now has moved up ito the thousands of dolars range for credit.
i use my card all the time, i pay it all off online at the end of each month so they don't hit me with that interest.
visa is the best as far as i can tell, readily acceptable all over the world unlike american express and mastercard.
Junior User
Joined: Jun 2006
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From: Pleasant Hill, MO
I'm always being bombarded with credit card offers, but I actually found it to be a pretty easy way to compare/choose a card. I have a HouseHold Bank Mastercard, and it works good for me. Very few places only accept Visa, and Visa and Mastercard are pretty much the standard cards accepted everywhere. I would suggest getting one with a 0% APR introductory rate, but if you are working on building your credit you should pay off your balance each month anyway so APR shouldn't matter much. Make sure there is no yearly fee for having the card! Other than that just compare interest rates, because it doesn't hurt to choose the lowest one. Finally, your best bet would be to sign up for a credit card with a bank that is well known, such as Citi.
Eva
Eva
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Joined: Jul 2006
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From: Spotsylvania, VA
yeah i would say in general just try to get the lowest interest rate in case something unforseen happens and you have to charge something that you won't be able to pay off at the end of the month . That way there's that much less interest you have to pay.
Right now chase bank has a credit card they are calling the 5% card. You get 5% cash back on ALL your gas and grocery purchases...that could add up! But i have no idea what kind of interest it has...
Right now chase bank has a credit card they are calling the 5% card. You get 5% cash back on ALL your gas and grocery purchases...that could add up! But i have no idea what kind of interest it has...
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Originally Posted by Mil1ion
You're the exception Dono 
I have found AE is not really for the masses.
I have found AE is not really for the masses.
Junior User
Joined: Jul 2006
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From: Southwest Missouri
I've had (and do have) many credit cards, from many different lending institutions and I have found that Citi has consistently been better than the rest (better APR offers, good service, lower transfer fees, etc.). Just don't let yourself spend more than you can pay off in a month! Which ever you choose, if you're interested in building your credit, you might tell the service rep that is your intent and ask them how best to do it. I've found that some like to see you pay off the balance each month and some actually like to see a small revolving balance where the minimum payment (or more) is being paid on-time each month. If the latter is the case, let if float with minimum payments a few months and then pay it off. Do that a few times and they'll be sending you letters to tell you your credit line has been increased...
Gary
Gary
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