Credit Card...which is best?

Dine/Dash card works well for me.

Citibank Dividend has no annual fee. You get 5% cash back for purchases at gas stations, supermarkets, and drug stores, and 1% cash back everywhere else. I have no idea what their interest rate is since I pay off the full amount each month.

Yeah, how about spend within your means? If you have a computer and are posting on the Internet, you don't need a credit card to get by at any time. And "rewards" are no compensation for the ridiculous interest you pay if you're late on one payment.

Munson wrote:

I pay off the full amount each month.

Was told by plenty of credit analysts that carrying a small balance w/o paying off helps the credit score. Paying it off doesn't hurt, but won't raise the score like a small balance will.

BTW, never let the balance hit over 50% at billing, even if the payment due has been made. And if you're applying for something, have it paid down below 50%, even if you're not at the statement date. The current info will show.

Basically operate within a small window, because there are many ways to lessen your score, even with good payment history.

None. Don't bother, use Debit cards if you must.

Okay...I'm by no means an economics major, and really don't know much about finance in general, but how does this work? I've always thought that paying off the balance was the best thing. Think about it: the bank/credit card company lended you x dollars. You then paid back the entire amount, showing you are responsible. How could leaving a little bit in the balance be better? I've always paid my balance every month, but then again I only use my card for gas.

ttc wrote:

Munson wrote:

I pay off the full amount each month.

Was told by plenty of credit analysts that carrying a small balance w/o paying off helps the credit score. Paying it off doesn't hurt, but won't raise the score like a small balance will.

BTW, never let the balance hit over 50% at billing, even if the payment due has been made. And if you're applying for something, have it paid down below 50%, even if you're not at the statement date. The current info will show.

Basically operate within a small window, because there are many ways to lessen your score, even with good payment history.

I guess if you can't control yourself, cash and debit cards are the way to go. But if you can control yourself, credit cards with rebate dollars/cash back are the way to go.

I've gotten about $4500 back from cards that give you rebates on car purchases, since I don't plan on buying a new car anything soon, I switched to the dividend cards. I've gotten about $700 back (cash) from those this year alone. One thing you have to be wary about is they usually have $300 limits. I basically have the Citibank Dividend, AT&T Universal and Discover Card's.

I still wonder why people still pay with cash, check, debit cards at Gas Stations and Supermarkets. Someone who is paying $2.40 a gallon, I am paying $2.28 just from the rebate alone. Someone pays $100 at a supermarket, I pay $95. All I'm doing is using a credit card.

But if you DON'T pay it off each month, its not worth it

Depends on how much you spend annually -

Less than $10,000: The Citibank Dividend Reward

More than $10,000: Discover Card mainly (although it's not as widely accepted, so you should have the Citibank as a backup)

All of you who eschew credit cards completely will have a rude awakening when you need credit for a house mortgage. It's the way the system works, unfortunately.

ah...but wrote:

I've always thought that paying off the balance was the best thing. Think about it: the bank/credit card company lended you x dollars. You then paid back the entire amount, showing you are responsible. How could leaving a little bit in the balance be better?

Used to think the same thing. It does make monetary sense to pay off and seems responsible to me too. But I was told consistently that credit people want proof that we can handle a balance. Paying off each month doesn't prove it much in their eyes.

Crappy logic IMO, but it comes from the words of a Trans Union Rep and several Credit Approval Analysts, all of whom I spoke with personally. Any Loan Manager will probably confirm the same thing. I would always ask questions when your credit report is being examined.

The American Express Blue Cash card gives the best cash back of any card I've ever heard of. They also charge merchants the highest fees so not everyone accepts it. I find about one in ten times I try to use it, I have to put it back and pull out the lower-cash-back Visa card instead.

Check the terms:

https://www66.americanexpress.com/cards/Fmacfservlet?csi=67/6501/b/4/3184908025/31813260271/0/n&from=57&from=3&afflSID=null

Hopefully, that's a static link. If not, you can google "American Express Blue Cash"

D3 guy you are a loser, does there always have to be someone who can find something wrong with an honest innocent post. This guy wants a credit card not your pessimistic views on financial opportunities and spending. He knows what he has and what he wants, if you dont have any advice on a credit card then shut the f*** up. My card is from chase bank it has no annual fee, and rewards for evey dollar you spend o everything from airlines (any carrier no blackouts) to clothes to electronics. I think if you just weant rewards and can pay off the balance quickly then you can find a lot of cards with no annual fee and rewards for evey purchase. I have also scene debit cards with rewards. If you cant pay things off very well then your number one issue should be low interest rate. Goodluck you kind find something out there with all the competition these days.

I have the Diamond Preferred Rewards card from Citi. I usually put about 800 a month on this card and I have already gotten a couple hundred dollars worth for Best Buy in a matter of 6 months.

http://www.creditcards.com/reward.php

This website ranks it as the best card, you get $50 off the bat.

They're obviously pretty tough to come by - and appear to be issued by invitation only - but if you could get your hands on an American Express Black card, I think you'd be all set.

http://www.time.com/time/asia/asiabuzz/2000/12/01/

i also like AmEx Blue Cash, though I also have a AmEx blue that has a much lower APR.

That American Express Blue is pretty good, but for a small spender the Citi Dividend is still the best, and for a big spender the best is still the combo of the Discover/Mastercard. With Discover you get 2% back on everything once you cross $5000/annually, and at that level of spending, the 5% "bonus" from AmEx has little effect.

"Was told by plenty of credit analysts that carrying a small balance w/o paying off helps the credit score. Paying it off doesn't hurt, but won't raise the score like a small balance will."

Sorry but you are wrong keeping a balance on the card does not report as positive as paying it off every month. How do I know this you ask? Well I work for a major credit card company. SO to all those peeps out there, pay off your card if you want better scores