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| *Ostroff, Fair and Company>>>Credit |
Best type of credit card? |
I'm looking for ONE credit card which will sufice, ONE which is good on the long term, so that the short lived "extra stuff" dont matter (ex: 10% of next ten purchases) it should also be widely accepted no hidden fees if possible, and hope fully has some cash back like 1 or 2 %, something basic, also it should have a pretty lengthy grace peroid as compared to other credit cards what i mean lonf term, is one that willwork as the only creduit card for years to come, without anyother credit card I was thinking some of the following: Visa, American express, Mastercard, etc. big companies There are hundred and hundred type of credit cards. Go with a reputable bank like BOA, Citibank. Amex..etc.. do not go with credit card companies that are not recognizable. 1-If you're interest in travel and get mileage- Travel cards will work for you because for every dollar retail, you earn 1 point or mileage. However, there is annual fee involved 2- Get a worldpoints account. You still earn points but there's no annual fee involved. The points you earn, you can accumulate them and redeem for travel like airline,hotel, cruise, car rental, gift cards, other merchandise and even cash. 3- If you travel outside of the states, Discover cards won't work abroad. 4-You can get a 0% interest for 6 months or 12 months with BOA. If you're interested in balance transfer short term, visa platinum plus will work well for you. Sometimes transaction fees are waived depends on customer, not everyone qualify for the same card. 5-Amex only charge 1% foreign transaction fee. Most others charge 3%. 6- Not everyone accepts Amex because of the interchange fees. Amex charges merchant 3% fee, and that's why lots of merchants don't accept Amex. 7-Sam's club only accept Discover and Master because they have contract with these companies. For me, since I travel abroad, I ended up with 2 cards. One Amex for foreign transaction fees and Visa for no interest for 6 months. Both of these cards I can earn points. However, the points may be transfered from one card to another as long as you have in one credit card company. It will be $15 to transfer worlpoints from one card to another. Although the points are free but you have to spend lots of money to get the points that you need for redemption like airline tickets. You need to have 25,000 points to redeem for airline tickets to fly in 48 states in the continental of the US,more if you fly abroad. That's mean you have to spend at least $25,000 although sometimes they have promotion for a certain period of time, you can earn double points but only for a short time. Read all the terms and conditions carefully before applied. You can apply on line. Most credit card companies have their website. Only apply for cards that spell out all of the terms and conditions. APR offers depend on your credit worthiness. Not everyone gets a low rate. Hope this helps Source(s): Work for a big credit card company and I'm doing this everyday. Look at the APR first because this is the interest rate you will pay on the card. I have a Discover that has 10% rate with cash back awards. The card had an introductory rate of 0% for a year which is short-term, but really helps. Look for a 0% card for introductory with a low rate after. Visa is also good. It's going to be hard to pick just one. Because Visa and MasterCard are more widely accepted, but Discover and American Express are also accepted at some places Visa and MC are not. If I had to pick one though, it would be a no annual fee, low APR Visa Card. But, I really do think it is best to have one from each company. 3 or 4 credit cards is best for your credit rating, anyway. http://aaacreditguide.com/credit-cards.h... http://aaacreditguide.com/forums... To find the ONE card that will pay you the most for your normal spending profile, you can use this reward calculator: http://www.creditcardtuneup.com/... A few of the better cards are the American Express Blue Cash, Chase Freedom, and Citi Driver's Edge. The calculator will tell you which of them will pay you the most. (I'm assuming you're using the strategy of funneling your normal spending through the card and paying your balance in full every month. That's the best way to use a credit card.) http://www.creditcardtuneup.com/... |
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