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Old 06-20-2011, 01:28 PM   #1
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Default I need a new CC

I havent used a CC in years and only pay for things as I have the cash in my pocket, however, in order to keep better record of things I'm buying for work (gas, pens, paper, boots, etc) I'd like to get something to use.

What cards do you guys use? I'm looking for something with good rewards that I could actually use. Like I don't ever fly, so an airline rewards card wouldn't work well for me. I'm thinking a nice gas rewards card or something like that. Right now I'm looking at the Chase Freedom CC. Seems like a pretty good deal to me, but I wanted to see what some of you bros use before I jump the gun.
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Old 06-20-2011, 01:34 PM   #2
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Discover has cash back rewards. That might be worth looking into.
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Old 06-20-2011, 01:36 PM   #3
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debit card?
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Old 06-20-2011, 01:40 PM   #4
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I've got a Visa through my bank. No idea on Interest Rates though as I never carry a balance on it. *shoulder shrug*
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Old 06-20-2011, 01:41 PM   #5
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I have an American Express. It's pretty **** and I get free **** with my points.
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Old 06-20-2011, 01:42 PM   #6
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http://www.bankrate.com/credit-cards.aspx

get a fixed rate if only to show to the ladies.

stick with visa and mastercard. amex and discover aren't accepted everywhere.

get no annual fee

get something with a reasonable grace period

find out which rewards cards do double or triple points on stuff YOU BUY.



I love my Motley Fool VISA. 9.9%, no fee, cash back. sadly no longer available.
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Old 06-20-2011, 01:43 PM   #7
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Quote:
Originally Posted by PatrickB View Post
debit card?
Thats what I've been using, but I'd like to have something that doesn't pull the money directly from my bank account every time. I'd rather keep building on my credit and have the flexibility to make payments over time, rather than pay for everything up front.

I've been using either cash or my debit card for 5-6 years and now that times are tough it'd be nice to have the option to wait a week or two to make the payment. Plus I can use the card strictly for work related items (eBay fees, office supplies, gas, etc). This way I can keep a better eye on how I'm spending the money.

Years ago I had 3-4 CC's and I maxed them ALL the **** out. I had to take out a bank loan to pay them off and the loan is just about paid in full now. I guess you can say I've learned my lesson with going crazy with CC's, so its not like I'm looking to do that all over again. lol
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Old 06-20-2011, 01:47 PM   #8
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You don't need a credit card, you just need to buy a copy of intuits quicken and start using it. I hadn't used a credit card in two years, then a british airways chase card offer became available that I couldn't pass up. Two transatlantic roundtrip tickets for spending $2500 in three months.

I hate the cc card. Purchase things now, get a bill later. I still track each purchase, but I still like the debit card or cash better.
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Old 06-20-2011, 01:48 PM   #9
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Amex Blue. No annual fees. 0.5% cashback on initial 5-6k and then 1.5% cashback after that with no ceiling as well as 5% on gas and groceries. They changed the cash back. It used to be a lump sum credited annually, but now you can choose when you want the credit in increments as small as $20. Unless, you have a particular loyalty to one airline/gas station/merchant or fly a lot/stay at hotels a lot/etc..., I haven't found better with one caveat. There are cards that pay back a higher percentage, but there is a limit of like $2-500 back after which you earn zilch back. (Citi, BOA, etc...) But check around as deals change constantly.

Bonus, the card looks cool too. I'm pretty sure the Amex Cash Rebate is the same deal iirc.
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Old 06-20-2011, 01:50 PM   #10
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Quote:
Originally Posted by Vashthestampede View Post
I havent used a CC in years and only pay for things as I have the cash in my pocket, however, in order to keep better record of things I'm buying for work (gas, pens, paper, boots, etc) I'd like to get something to use.

What cards do you guys use? I'm looking for something with good rewards that I could actually use. Like I don't ever fly, so an airline rewards card wouldn't work well for me. I'm thinking a nice gas rewards card or something like that. Right now I'm looking at the Chase Freedom CC. Seems like a pretty good deal to me, but I wanted to see what some of you bros use before I jump the gun.
Aside from good rewards, make sure you have the fundamentals in terms of building/maintaining good credit scores.

Make sure the card reports to ALL three credit bureaus. It sounds ridiculous but not all do. If you stick with Visa, Mastercard, Amex and Discover they all do (to my knowledge). Whether the rewards are good or not, cards like Capitol One are essentially worthless at boosting your credit score because any ******* can get one. They're one of the slum lords of the credit world.

*** Capitol One is Visa/Mastercard. My views Capital One may no longer be relevant - do your own homework.

-Zach
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Old 06-20-2011, 02:03 PM   #11
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You may want to browse this website too:

http://www.nerdwallet.com

It provides a quick overview of the major cards which may help condense your search.

-Zach
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Old 06-20-2011, 02:55 PM   #12
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I use the Chase freedom CC too. It's pretty convenient since I do all my banking with them as well. You can get rewards in the form of cash, or other stuff. For every 1K you spend, that would equal 10 bucks in rewards. They also have deals for periods of time where you get 5% back on certain things like gas instead of just the regular 1%.
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Old 06-20-2011, 03:25 PM   #13
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credit cards aren't evil. dumb people with credit cards are.

I use the card to pay all monthly utilities and services that otherwise wouldn't be earning me miles/cash/whatever and then make a massive lump payment to the card whenever it's convenient that month. carry no balance, earn money, set up autopay without worrying your bank account will be depleted.

example of autopay credit card bills:
amazon prime
car insurance
cell phone
netflix
newspaper
toll tag
tv/phone/internet
charitable donations
gym membership

that **** all has to get paid one way or another... i might as well get miles for it.
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Old 06-20-2011, 07:58 PM   #14
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^Yup, we put everything we do on our USAA cards.

Theres a website within the USAA main-site where just about every major name-brand store you could want to online shop at has a link. If you click on that link through the USAA site, then when you buy stuff with your USAA card, you get 3x/4x/5x points. We rack up crazy points by putting just about everything on those, and usually there are extra special offers and discounts they give you as well.

Then we cash in for AMAZON gift-cards or just straight cash. 100,000 points is $1k cash. If we can manage 2-3points per dollar spent, then I only have to spend $30k of my money to get $1k cash-back... and the wife and I have no problem spending that much. I wonder if USAA tracks your dollar vs. point ratio... gotta check.

Just for example... right now, I'm seeing that Advance Autoparts has a 6x points plus a code for $20 off $50 purchase... so, I buy $51 bucks of stuff online and select pick-up in store for a case of oil/filter, and some cleaning products. I get 300pts points and 40% off. I do this with everything.
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Old 06-20-2011, 09:09 PM   #15
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Quote:
Originally Posted by y8s View Post
credit cards aren't evil. dumb people with credit cards are.

I use the card to pay all monthly utilities and services that otherwise wouldn't be earning me miles/cash/whatever and then make a massive lump payment to the card whenever it's convenient that month. carry no balance, earn money, set up autopay without worrying your bank account will be depleted.

example of autopay credit card bills:
amazon prime
car insurance
cell phone
netflix
newspaper
toll tag
tv/phone/internet
charitable donations
gym membership

that **** all has to get paid one way or another... i might as well get miles for it.
So true.
I have a CC and I use it for everything especially after I had bank fraud. If I pay with my CC and someone commits fraud they shut down my CC and it does not come out of my pocket while the fix it like it did with my Debit card. I pay it on the 14th and 29th of every month. I and I keep it on my ledger (yellow legal tablets that I have tracked my spending on since my late HS days) so I know how much I have spent. I visit my CC website 2~3 times a week to double check. I never carry a balance.

I'd like to get another CC that has cash/airline miles as rewards. Especially since I am getting married in about a year. Lots of stuff to rack up miles with.
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Old 06-20-2011, 11:04 PM   #16
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google docs or excel maybe instead of the yellow pads?
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Old 06-20-2011, 11:55 PM   #17
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I pay for everything with a CC. My two main ones are:

State Farm - pays 1% back which I just use to pay my truck insurance every 6 months. Free insurance FTW.

Discover - pays 5% back on fuel. Nothing like getting $0.20 off each gal of gas

If I'm out with friends (hypothetical since I don't really have any) I always pick up the check and have them pay me back with cash. I loves me some 1% cash back...
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Old 06-21-2011, 12:03 AM   #18
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Quote:
Originally Posted by pusha View Post
I have an American Express. It's pretty **** and I get free **** with my points.
Same here, I use it for almost everything. I use VISA for places AMEX isn't accepted. The VISA has 1% cash back. Both cards are auto-payed at end of every month.
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Old 06-21-2011, 11:36 AM   #19
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Originally Posted by rmcelwee View Post
If I'm out with friends (hypothetical since I don't really have any) I always pick up the check and have them pay me back with cash. I loves me some 1% cash back...
I've withdrawn cash at the bank of dinner with friends before. It's a good deal.

But then you have to not spend that cash on purchases you'd make with the card or you're back where you started.
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Old 06-21-2011, 11:59 AM   #20
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penfed platinum visa. 1% cash back on all purchases and 5% on gas purchases credited to your account. No tier bullshit. No $50 blocks for rewards.
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