My understanding is that most if not all of the American Express cards are essentially charge cards. Distinct from credit cards in that you have to pay the full balance off the next month. So it's probably the best compromise in terms of rewards, breathing room and still not getting buried in debt. Maybe I haven't read the whole thread, but I'm wondering if anyone has recommended getting a "secured" line of credit with a deposit at a credit union.
Anyone use the Captial One Venture card? I just got married and my wife and I are looking to get a joint account for everyday purchases. We both like to travel and figure this will help us pay for plane tickets and whatnot quicker. There is an annual fee of like $50 or something, but typically if you're a good customer (not late on pmts, spend decent amount, excellent credit, etc), if you call and ask them to remove the fees whenever they're charged or you're going to cancel your card, they'll take off the fees (they'd rather keep you as a customer).
Airline cards are garbage now that they charge you upwards of $150 to redeem points. I switched to the Marriott card and had about 6 nights absolutely free plus one room upgrade last year alone. Easily saved $1,000 as some of the hotels were really nice. Big fan of hotel rewards cause they don't charge fees for redeeming points.
Why not? I throw money at mine twice a month just to make sure I *cough*my wife*cough* doesn't get anywhere near the credit limit. There have been studies that show people spend more money using a credit card than they do with cash, so I like to pay mine off as often as possible so we still feel like we're spending actual money. Anyway, I use the Chase Freedom card. We put everything on the card every month, then pay it off. It helps to put all your bills on auto-debit, that way you don't have to worry about forgetting to pay them and it helps build up your rewards. That way you can pay all your monthly bills in one fell swoop. I redeem my rewards as cash back and i wait until it gets up to $200. Then I just have Chase deposit the $200 into my savings account.
I have a Capital One Venture card, but I'm thinking about switching to Chase Freedom Cash Back. Even though I find myself using travel points often, the annual fee is pretty poopy. I use Amex Costco for all my business purchases. Having my annual fee pay for both my card and my costco membership is nice, even if the cash back isn't substantial. Edit: WTF I just saw on Chase's website the 5% cash back is only on certain categories for 3 month periods at a time?
Yeah, it's not the greatest card for getting cash back, but for me it's very convenient since I already bank with Chase. Last quarter, you got 5% back for gas purchases and Amazon, which was great for us. This coming quarter, it's movies (we never go to the movies) and grocery stores. I just hope they categorize Walmart as groceries, because we shop at the Walmart Neighborhood Market exclusively.
My ING Direct card is debit, yet it has a line of credit. Same with my Wells Fargo card. Essentially if there is overdraft protection attached to a debit card, it has a line of credit.
Fidelity AMEX 2% cashback on all purchases (no limit) and no annual fee. Best all-around cash back credit card.
I take full advantage of the free loan. As long as you are paying it off in full, just set it for autopay from your checking account and all you have to worry about is making sure the charges are correct on the statement.
Not necessarily. I went 8 years without a credit card and had a credit score of 749. Paying a mortgage, car payments, student loans and utility bills all on time goes a long way.
Usually credit cards are the first form of credit you get. Helps lower your score for getting those loans at better rates. Student loans are accessible with no credit and a fixed rate, so they do help and are very easy to get. Paying utility bills does not show on your credit report.
I want a CC with flight and maybe hotel rewards. Does the Marriott card also do flight points? I feel like I read somewhere it does.
Do you spend alot on your Venture card? The only way I see a card worth an annual fee is if you use it all the time.
