Im looking for a good credit card. I currently have a StateFarm Bank card and a Washington Mutual card. The StateFarm Bank card has an interest rate that jumped up to 24% and it has a $1k limit. The Wamu card has a 9.99% APR and only a $500 limit. I want a card that has low interest rate and a nice limit. Ive talked to Wamu and they will NOT raise my limit. I want to get rid of these 2 cards (when balances are paid off) and get another one that is decent. Whats the best out there? Discover? Capitol One? What are some good rewards that come with these cards? Please help out, thanks alot!
There's no one card that gives you everything: high limits, low interests, cashback, rewards program, no fees... If you carry a balance, a card with a low interest rate is way more important than cashback or rewards. You may just want to hunt for the place offering the best interest rates. Amex and Citi have great rewards card/cashback programs. As a side note, once you pay off your cards, just stop using the Statefarm and Wamu cards but don't cancel those accounts. Your credit score will go up if you have reasonably old cards carrying no balances, enabling you to get more credit elsewhere. Here's a good thread on which credit cards to choose: http://www.fatwallet.com/t/52/711457/
Only if you carry a balance. I have never carried a balance in my life. I use my credit cards for business and personal use and have racked up close to 2 million miles.
This is true. If you know how to use them properly then they can be beneficial. The problem is not too many people know how to do this.
A google search brought me to this thread. I wanted to see how many of you guys use credit cards strictly for the "rewards." For instance, I have a AMEX Blue Cash card that I get 3-5% back when I use it to purchase GASOLINE. My plan was to use this card every time I get gas, save my receipts, and right after my statement date on the CC passes I pay every penny of that "gas balance" off and reap the 3-5% in reward money. Does anyone else do this? I always heard about these benefits on CCs with % back on this and % back on that but never thought it was worth the tidius time it takes to 1) think of doing it and 2) remembering to pay extra on your monthly CC bill to cover the balance you spent just for the rewards (otherwise the rewards wouldn't be worth it)
I do. PenFed Platinum is awesome. 5% on gas and 3% on groceries. Also Amazon Visa for Amazon purchases and Chase Rewards for whatever they're offering at 5% that quarter. Hilton AmEx and Visa have awesome intro rewards worth a few night's stays. Also there are some spend $500, get $100 Visas floating around out there.
I have Wells Fargo credit card that I strictly use to rack up points to get cash back. Usually after the transaction is posted I pay it off. I just recently opened an AmEx Jet Blue card. After I spend $500 in my first 3 months I get 30,000 points I can redeem for travel spending.
This is a pretty awesome deal. I don't carry balances so APR is really a non issue for me though. https://creditcards.chase.com/a1/southwest/2ffairpage
Southwest has a great 50,000 bonus going on most of the time, also the annual fee is given back to you in the form of 6000 yearly points which is worth $100, so it's worth keeping just for that. United has a good 50,000 bonus too, but that one is worth cancelling after the first year unless you fly United enough to justify the fee (you get one free bag for you and another person on your reservation and priority boarding with the card). AirTran has a good 2 round trip bonus, and those 2 round trips can be used on southwest also. If you travel a lot Chase Sapphire Preferred is the best. Double points on hotels, restaurants, rental cars, transit fees (subway, bus, etc), and 1:1 transfer into many airline and hotel programs. 40,000 bonus Of hotel cards, if marriott has the 70,000 bonus it's a good deal but not worth keeping after a year. The one hotel card worth keeping is club carlson because the last night of each stay is free, so you could use one night of points and get second night free. Also 85,000 point bonus
Im the exact opposite. I have 2 CCs that currently have around $4k on them and pretty high interest rates. I just applied for a new CC that has the normal 0% APR on balance transfers for 18 months but also no balance transfer FEE (transferred in the first 60 days) so I jumped on this so fast!
The Southwest card has been fantastic for me. In a matter of 6 months since I signed up, I have more than enough points to fly my entire family on a trip next month with plenty to spare (got 50,000 upon signing up). The extra points you get really add up fast. Helped me get to A-List quickly, too. I don't travel that often (no more than 1-2x per month).
I always travel with a pet so I strictly seem to always use LaQuinta. I also take surveys online that earn me LQ points. I'm thinking of getting their creditcard as well.
Questions regarding this card as I recently signed up for it. 1. I've spent my $2000 already. I know the issuer states 6-8 weeks to get your points. How long did it take you to get your points? 2. I looked at my Southwest Rapid Rewards account today and noticed that I earned points on everything I purchased so far with the card. Is this correct? I mean do they give you points on the money spent and then the 50000 bonus points after you've passed that threshold?
1. It's a few days after you've met your $2000 spending limit. I just did it two months ago. 2. Yes, that is correct.
aren't you also ToyCen, the thread starter? anyhow, i don't understand your second paragraph. 1. it doesn't take more time to pay your bill on a rewards card than a regular card. 2. if you're carrying a balance your rewards are useless since it's negated by your interest. it's best to just use a low interest credit card that offers no rewards.
