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Best credit card for me? |
hi I have had a debit card for a year and now i want to apply for my first credit card. I am good at saving money and managing my money, so I guess i wont have credit card problems. what I want to know is which card will be the best for "cash back" and also "skymiles" or any other advabtages they mihgt have... ... you know it's hard to decide based on advertisements so i thought maybe I can find a good answer here... thank you Reward credit cards reward you depending on the amount you spend on the credit card. Usually, you can collect rewards through 3 methods. One method involves earning cash back on the card, which is generally a certain percentage of each amount you spend. The next method involves giving points or any other type of token to the customers to accrue. They can then redeem these points for gifts like luggage, cosmetics and other goodies that the credit card company offers. Most of these reward schemes have alluring gifts and huge variety of selections. But the better option is to go for a cash back reward as it allows you to use the money any way you like. http://debts-to-wealth.com/category/earn... Since you're good with managing money, I'll assume you'll be funneling most of your normal spending through your credit card and then paying you balance in full each month. (That's the best way to use a rewards credit card.) The best rewards card for you will depend on your normal spending profile -- how much you spend in various rewards categories like gas, groceries, restaurants, etc. You can use this rewards calculator to quickly determine which card will pay you the most for your normal spending profile: http://www.creditcardtuneup.com/... A few of the better cards are AmEx Blue Cash, Chase Freedom, and Citi Driver's Edge. http://www.uthunk.com/ Citibank offers a variety fo cards, which hav eevarying rates and "paybacks", whether it be cash, interest, miles, etc. Just be careful. A credit card is to be used for 2 things... 1) EMERGENCIES 2) Whatever it is you can't live without NOW, but that you can pay off by the end of the month. If you're getting a credit card for any other reason, you should probably look at getting a loan (or a better idea, SAVE for the purchase) www.citicards.com 9 years as a credit counselor in the US Navy Dan B, you forgot 3. Convenience 4. Cash back/rewards/whatever goodies 5. Building up credit history 6. Easy on-line shopping 7. Some things you can't even do easily without a credit card, like renting a car. By the way, I remember that Discover card was the easiest one to get, without having any other cards. And I'm still using it today (probably has gone through 20 other cards; never carry a balance). you might want to go here to compare them, pick one that is right for u http://www.bestcreditrates.net |
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