Question : Should I get a credit card? How do you choose the best credit card?
I just finished college, and work full time. I have a debit card, and building good credit from paying off loans. A lot of people have been telling me to get a credit card, but I wonder if it really is necessary. Please give me some good reasons to get a credit card other than building good credit. The only other advantage I know about is those point-system/rewards credit cards, that earn you miles or other things. And what is the best credit card to get for a first time credit card holder? The number of choices are a little overwhelming. How did you choose your first/main credit card?
- asked by Acrow
All Answers:
Answer #1
get one from orchard bank or chase..
- answered by beauty s
Answer #2
If you haven't needed a cc up until people havebeen telling you that you need one, don't worryabout it. You really don't 'need' one. The onlyreason that I got my cc (aside to help with mycredit score!) was for emergiencies-and that wasat my hubby's suggestion. I ended up applying fora card through my bank/federal credit union. Theywill be easier than any other place, especially ifyou have been with them for a while. Make sureyou have NO annual fee. Aside from that, pick andchoose.
- answered by Chris G
Answer #3
Well, let me be the first to tell you that acredit card can be a "safety net" in the eventthat you're in a crunch in between paychecks, andespecially renting cars. Granted, you can use yourdebit card, but you better have the money on it,becuase credit and debit cards work completelydifferent in that respect. But even if you justmake small payments that you pay off in full everymonth, it's another way to build credit, which youcan't build alone just by paying off loans. Creditand the scoring system is designed to where youshould show that you can handle different types ofcredit bothinstallment(car,furniture,appliance,personalsignature, and mortgages) and revolving (creditcards and line of credit). An example of abalanced mixture of credit is 3 credit cards (2major and one department store card) and eitherone paid or currently paying installment account.Now while it is a good thing to have a credit cardin the event of emergencies that may come aboutthat could potentially wipe out your checkingaccount if you use that, it's important to knowthe true meaning of needs vs. wants. Credit cardsare not bad, it's the judgement of some peoplethat use them. They easily confuse the 2 andthat's where the problems arise. As long as youkeep your priorities straight, and use credit likeit's supposed to be used, then you should be ok.Acredit card you should look for, ideally is onewithout an annual fee and a low or 0 introductoryinterest rate. But my advice is to keep thebalance no more than 30% of your total availablecredit to minimize the interest anyway. Chase,Bank of America, and Citi all offer fairly goodcardsI hope this answer helps out,Good luck!
- answered by Smoovy Loco
Answer #4
I would highly suggest getting a credit card.Ifyou've been using your debit card to pay forthings, consider substituing with a credit card.Just use your credit card to pay for everything,then write one big check at the end of the month.This is so much easier when it comes to balancingyour checkbook. You don't have to keep track ofall the stuff you bought with your debit card. Youjust look at your credit card statement and writeone big check, it's easy. The rewards are a greatway to get cash back and earn travel miles andthings. Some people even put their rent on theircard, or have their car loan payments and mortgagepayments run throguh their cards before they paythem. This is a huge way to earn rewards points.Cash back is a big enough incentive for me anyday. Building good credit is one of the mostimportant things you can do for yourselffinancially. Remember that. Scroll down to thecredit card search area on thiswebpage:
http://www.bankrate.com/brm/rate/cc_home.aspThat's the best page I know of for finding acard. I would also heavily suggest that you don'tuse your card to purchase things you don't havethe money to pay for. Don't carry a balance, andif you do (gasp) always pay more than the minimum.Remember that credit cards are a way to manageyour finances, not a way to go crazy. Don't usecredit cards to compile more debt.Hope that helps
- answered by Wheels
Answer #5
I use credit cards to build credit and get cashback on purchases. You can get up to 5% cash back.If you are interested go here
http://www.ccvault.com/credit_cards/cash_back.php
- answered by John
Answer #6
The answer is simple: You get the rewards cardthat pays you the most for *your* normal spendingprofile. To quickly determine which reward cardwill pay you the most for your normal spendingprofile, you can use this rewardscalculator:
http://www.creditcardtuneup.com/Thenyou can funnel most/all of your normal spendingthrough the card(s) to build your credit and earnmaximal rewards. Just remember to always pay yourbalance in full every month!
- answered by moviegoer_j
Answer #7
do you really need it right now? ask your selfthat.. if u really need to.. check this pageout
http://tune.in/cc
- answered by boboy
Answer #8
you might want to go here to compare them
http://www.bestcreditrates.net
- answered by bijan a
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measure and fulfill your financial needs
