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06-07-2006, 02:31 AM
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#1 | | Junior Member
Join Date: Mar 2006
Threads: 6
Posts: 249
| what credit cards best?
I just turned 18 and want a credit card to build credit. What card has the best offers or rewards? or should I go with my bank and get the normal Bank of America credit card? | 
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06-07-2006, 08:33 AM
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#2 | | Senior Member
Join Date: Apr 2006
Threads: 17
Posts: 2,667
| The Bank of Mom & Dad | |
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06-07-2006, 09:02 AM
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#3 | | Junior Member
Join Date: Aug 2005 Location: Greenwich, CT
Threads: 15
Posts: 234
| Amex has just about the best bonuses and rewards... but I too would reccomend goin with Bank of America | |
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06-07-2006, 09:06 AM
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#4 | | Senior Member
Join Date: Dec 2004
Threads: 23
Posts: 2,013
| I like Chase, they have a students rewards card. And it's a Mastercard so it is accepted everywhere, unlike Discover or American Express. | |
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06-07-2006, 09:33 AM
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#5 | | Super Moderator
Join Date: Apr 2005
Threads: 219
Posts: 10,303
| While I feel like Amex caries a certain cachet, if you want to be able to use the card anywhere in the world, then an MC or Visa is best. Plus, if your card is tied to your bank, it's usually exceedingly easy to pay your bill online. | |
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06-07-2006, 09:39 AM
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#6 | | Junior Member
Join Date: Feb 2005 Location: Florida
Threads: 3
Posts: 60
| The best credit card is one whose conditions and terms you have read completely and thoroughly and feel you can live with. All credit cards, even within type (i.e., Mastercard or Visa) are *not* created equal. | |
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06-07-2006, 09:40 AM
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#7 | | Junior Member
Join Date: Jan 2006
Threads: 21
Posts: 271
| I got a ctibank card and i here it is really good with bonuses and stuff. there are three different types of cards to chose from for different bonuses and you can chose if you want mastercard or visa. | |
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06-07-2006, 09:46 AM
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#8 | | Junior Member
Join Date: Nov 2005
Threads: 18
Posts: 254
| Get a Visa and an AmEx.
My mom insisted I get two cards, hell I'm working on my application for my third, to (in her words) "build up really really good credit".
AmEx gives you rewards, but everyone takes a Visa. | |
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06-07-2006, 09:49 AM
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#9 | | Member
Join Date: Dec 2005 Location: MD
Threads: 24
Posts: 472
| READ THE FINE PRINT! MC/VISA are the most widely accepted. But most important are not the bonuses, but INTEREST RATE AND LATE FEES. Set up an online bank account and set a monthly automatic payment so you are NEVER late paying. You can always pay more, but to be late is to get a $20-$50 late fee AND bad credit or higher interest rates. Try, try, try to pay off your card monthly, but avoid getting more than 3 months beyond what you can reasonably expect to pay off. Otherwise you will get a very bad habit of living beyond your means. The balances do not magically evaporate, they just keep increasing. It is the catastrophe of graduates when they find they have a $10,000 credit card balance to pay off. And the Banks of Mom & Dad are rarely amused... | |
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06-07-2006, 09:56 AM
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#10 | | Member
Join Date: Nov 2005 Location: Dallas
Threads: 18
Posts: 545
| i have had a chase debit card for about three years now so i have built up some credit. ill get a credit card when i need one. | |
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06-07-2006, 10:01 AM
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#11 | | Senior Member
Join Date: Aug 2005 Location: Winston-Salem, NC
Threads: 15
Posts: 1,790
| I'm getting a Visa credit card through my bank BB&T. But I'll also have a debit card and a card that is on my parent's account for emergencies. | |
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06-07-2006, 10:24 AM
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#12 | | Junior Member
Join Date: Feb 2006
Threads: 2
Posts: 71
| tracemhunter- Sorry to break it to you, but debit cards are a non-credit earning card. Based on the fact that its taking out of your bank account asap. Don't sit there and argue with me, I know what im talking about. Google it. | |
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06-07-2006, 10:30 AM
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#13 | | Member
Join Date: Mar 2005 Location: college in NYC
Threads: 9
Posts: 905
| If anyone in your family has been in the military, look into a USAA account. I have a USAA Visa card. Not only is a good credit card, but it'll give you a USAA account so you can get cheap insurance later on even if you don't join the military; you have to start the account before you are no longer a dependant, like 21 or something. | |
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06-07-2006, 11:26 AM
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#14 | | Junior Member
Join Date: Feb 2005 Location: Florida
Threads: 3
Posts: 60
| polkadot_heart: I think it's a really *bad* idea to have 3 credit cards in your name like that, even as an adult. It's too tempting and not necessary.
weski: you hit the nail on the head. | |
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06-07-2006, 11:57 AM
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#15 | | Member
Join Date: Dec 2005 Location: MD
Threads: 24
Posts: 472
| I agree with bing that USAA has a great card & services if you are eligible. Regarding 3 cards - an ATM/debit should be your everyday card - note your school may have a card to pay for things on campus as well. You should have a MC/Visa card that is not a debit card for emergencies (auto/hotel, etc.). If your parents are nice, they may add you to their American Express account for travel expenses. More than that, you will get in over your heads - it is the most common mistake/problem for students and young adults. You will not be immune from the temptation. Read any personal finance column and this is the drumbeat - don't get into credit card debt!!! | |
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