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+--- Thread: i need mo money (/showthread.php?tid=3254)
i need mo money - REED - 12-01-2005
So I've been contemplating getting a credit card recently. I have one that my mom and I shared during school, but want to get my own now that I'm all independent and whatnot. What cards are you guys using nowadays, any good rewards,rates, any reccomendations for a a credit newb.
- ScottyB - 12-01-2005
i like providian. they give you access to a free credit report whenever you want one too.
for a newb i wouldn't touch anything with an apr above 12%, and make sure that number isn't variable, or else you'll think you're getting a great deal, then 6 months later you find out you're getting f'ed up the a.
use it to just buy little stuff at first too, like gas and groceries, so you can get used to spending within your means. its really tempting to just burn right through it (right Evan?)
- CaptainHenreh - 12-01-2005
I had a Providian as my first credit card. Never had any complaints.
- JackoliciousLegs - 12-01-2005
Remember, a credit card isn't more money... after dealing with this carmax shit... i HATE credit even more.
- REED - 12-01-2005
JackoliciousLegs Wrote:Remember, a credit card isn't more money
nonsense
- G.Irish - 12-01-2005
Try to get one of the rewards cards if possible. If I was smart I would've just gotten the Citibank United card off the bat I'd be close to having another free ticket by now.
- Nick325is - 12-01-2005
I have an MBNA platnium card with a 7.9% apr. It does not offer any rewards though and MBNA can be a pain in the ass to deal with.
I have enjoyed having the card though.
Nick
- Ginger - 12-01-2005
Get a rewards card ONLY if you're not going to carry a balance. There are better cards available if you will.
If you get a cash back card, whatever, use it like a check card - never spend more than you actually have and pay it off completely at the end of each month - you'll get the beneifts of whatever amount cash back, as well as credit building, without the drawbacks. Unfortunately, the rewards cards typically carry a higher APR than traditional lines of credit for the simple fact that most people will carry a balance and finance the smart folks rewards. Don't have very much unsecured credit - it effects money lending decisions: too much unsecured available credit and you increase your chances of becoming a risk to a lending agency.
Blah blah blah. I work for Pentagon Federal Credit Union and right now we offer a Gold card @ 9.9, a standard "classic" at 10.9, and a 1.25% cash back card a@ 12.9 (airline miles also available). If you can get USAA they're also offering 1.25% cash back on your purchases but at 7.9% APR.
Instead of a credit card you may look into a credit service for your checking account. Most banks offer a line of credit which can be attached to your checking account - accessable for overdraft protection, or to simply extend your purchasing power. Again, PFCU offer this, but at 14.9% (Thrify Credit Service/TCS). Navy Federal also does, though I'm not familiar with their rates, theiris is NavLine.
If your bank offers terrible service and rates then hit me up and I can help you establish an account with PFCU (which is a reserved membership institution).
- G.Irish - 12-01-2005
asteele2 Wrote:Get a rewards card ONLY if you're not going to carry a balance. There are better cards available if you will.
This is KEY. I forgot to mention this.
- REED - 12-02-2005
Seeing how I never plan on using it for more than I have, a rewards type card seems like the best option. So far my experience with the 4 major carriers (visa,mc,discover,ae) is that visa and MC are pretty much interchangeable, discover isnt accepted as widely but you get a cash back type deal, and i dont know much about AE, other than i dont think anyone takes it. - does that seem like a fair analysis of them. I'll look and see what the credit union here at GSA has to offer too, I totally forgot about them. Thanks for the info guys
- white_2kgt - 12-02-2005
REED Wrote:Seeing how I never plan on using it for more than I have, a rewards type card seems like the best option.
Don't go into debt buying car shit and/or shit you don't NEED.