Credit Cards

Alright, I usually end up using threads like this one as sleep aids, but I need some help. It's time for me to get a credit card, and I'm hoping to not get utterly screwed. So, I need recommendations, as well as what a good realistic APR situation would be.

 

I'd avoid them if possible, but 7.9 percent is pretty good.
Hell, I get an average of 3 to 4 offers a week.
Just wait, you'll get something in the mail.
Look for perks like travel points, avoid annual fees.

 

I haven't paid my credit card bill in seven months. :

 

It's good to have one, but be sure to pay them off every month.

It's way too easy to say you're going to use it just once, but then end up using it again and then again two weeks later and before you know it, you have $1000 or more on there.

Just remember, when you use a debit card, you are spending money you have. When you use a credit card, you are spending money, you don't have.

 

I've been happy with this one:

Citibank Dividend Platinum Select
No annual fee, 5% back on gas, supermarkets and drug stores and 1% back on everything else. If you don't think you can pay it off every month, however, the interest rate is pretty high.

This one isn't bad either. No interest for the first 12 months, 3% off on gas and 1% on everything else.

Shop around a little. It's not hard now to get cash rebates and still not have an annual fee.

 

I was going to recommend the cash-back feature, and I have that Citi card. I honestly couldn't tell you what the APR is because I pay it off every month. It's stupid money management to let them keep my money, but I recently got a $450 check with the cash back stuff. It adds up on the gas, particularly.

 

It helps to stay on top of what you've spent. I keep mine in Quicken with my bank accounts which allows me to:

a) reconcile my statement so I recognize any charges that aren't mine

b) always know how much is owing on my card.

I got into trouble with credit cards when I was younger and I'm pretty cautious now.

 

I'm in the strange situation of not being able to get a credit card. Not because my history is bad, but because I have no history. I had a credit card for about two months my freshman year of college -- 15 years ago -- and since then it's been debit cards (tied into my money market account) the whole time.

I don't need a credit card now, but I plan on buying a house in the next two years and I think my lack of a credit history is going to screw me despite the fact that I've been able to pay all my bills and don't owe anyone any money.

 

Start with a store credit card. They'll give 'em to almost anybody.

 

Or, go to the bank, take out a $1000 personal loan, put the money into a savings account and make the payments every month from there.
It'll burn you the interest, but it does establish a credit history.

 

amex blue.

pay it off every month. in fact, pay ALL of them off every month.

if you can't, MAKE SURE you have a NO FIANCEE CHARGES FOR A YEAR card. or just dont buy it.

great rewards on amex blue. im targeting a big screen TV free from them in july 2007. but i use teh card for EVERYTHING. i rarely use cash. as i've said on other threads, when the shit goes down, cash will be king. i keep some at home (small bills - easier to negotiate than with $20s), and when it goes down, im hitting up the ATM for the rest of my cash. (then again, i have a go-bag, so maybe im paranoid).

also citibank has some good rewards cards.