(Closed) Credit cards?

posted 8 years ago in Money
Post # 3
Member
2111 posts
Buzzing bee
  • Wedding: July 2010

I don’t know much about it in the States but in Canada, any of the credit cards through banks seem to be the best… or American Express where you can get Air Miles.

Post # 4
Member
2214 posts
Buzzing bee

I’ve had all types of credit cards (Visa, MC, American Express, Discover), and I always made sure I got a card with 0% interest for a year.  I’ve never once had to pay interest on a credit card, so I would do your research since you’ll be putting a lot of money on it.  I don’t know if you’ll be able to get a 0% interest card without credit, but I got my first one when I was 18, and it wasn’t a problem (but times were different back then).  Honestly, if you can’t afford to pay off the balance every month and you have to pay interest, I would just save money until you can buy what you want rather than get a credit card.  I can’t say enough how stupid it is to pay interest! And just some general advice, make sure you make payments on time.  That’s something that can effect your credit score, but it should be automatic.

Post # 5
Member
3344 posts
Sugar bee
  • Wedding: August 2010

The card I have with the lowest rate is from Chase and I get miles for every purchase I make.  Definitely watch your mail for cards with promotional APR.  Pay attention to what the APR defaults to after the promotional period.

Post # 7
Member
335 posts
Helper bee
  • Wedding: November 2010

I have a discover card with 0%, I think it’s been like that for two years. To be honest, it’s my wedding dress card! I also have a Citi card which builds up some sort of points and I just got a check for 70$ out of no where.

Post # 8
Member
5263 posts
Bee Keeper
  • Wedding: June 2012

I went through my bank, because I don’t have good credit yet (I’m 19) and they gave me a relatively good interest rate, plus I can pay it off straight from my checking account every month. No complaints except after about 6-8 months of spending $250-$300 a month and paying it off in full, I requested a credit raise and they denied me for no reason other than that I “hadn’t been a customer long enough” – which made me mad, because I’ve had my checking account with them for 5 years. 

Post # 9
Member
546 posts
Busy bee
  • Wedding: July 2010

Fiance and I got discover, nothing to complain about so far 🙂

Post # 10
Member
1940 posts
Buzzing bee
  • Wedding: July 2010

I believe the new credit card regulations went into effect yesterday.  I’ve read several articles speculating that rewards programs may not be seen as frequently, that annual fees may become standard again, that there are limitations to marketing to college students, and those under 21, and lower credit limits may be expected etc.  

 

Just make sure that you read all the paperwork carefully 🙂  It may be helpful to review what some of the recently changes are as well.  (I just listed that stuff above from several articles found on Google).

Post # 11
Member
5498 posts
Bee Keeper
  • Wedding: September 2010

We went through our bank (Chase) and have not regretted it! = )

Post # 12
Member
2767 posts
Sugar bee
  • Wedding: September 2009

chase has been the best for us.  i also have capital one but i’ve had some problems with them.  i recommend chase.

Post # 13
Member
1148 posts
Bumble bee
  • Wedding: January 2011

The best idea I’ve ever heard of is to get a card through a store like Best Buy and buy something that you want/need like a stereo, tv, etc and pay it off over time. One of FI’s friends did that during his senoir year and earned himself a 720 credit score at 18 years of age. He was able to buy a car with a very good deal and already has a starter home for himself because of that credit score.

Post # 14
Member
294 posts
Helper bee
  • Wedding: October 2010

I recommend the Starwood Preferred Guest American Express card. You get points for all of your purchases plus their customer service is awesome. The hubby to be and I both have it and we make all of our purchases with it which we can later use to pay for our hotel for our honeymoon, SCORE.  

They typically will also give you bonus points–anywhere from 10,000-15,000 miles after your first purchase. 

Post # 15
Member
1260 posts
Bumble bee
  • Wedding: June 2010

I might caution against Toffee’s suggestion, as store credit cards often have sky high interest rates. If you want a low-rate card, go with one through your bank.

If you have questions about how to build your financial portfolio, I really enjoyed reading Suze Orman’s “Young, Broke, and Fabulous”. She lays it out in a simple and easy to understand manner. I think you would find it very useful. I loved it!

Post # 16
Member
1110 posts
Bumble bee
  • Wedding: March 2009

Ide say def try getting one through your bank or a credit union type bank if you dont belong to one.

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