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Credit Card Recommendations
 
forty-two  posted on May 18, 2013 12:58:22 PM - Report post

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Hey, everyone. So... I'm thinking about getting my first credit card. I really want a card with good rewards. Does anyone here have a credit card with a rewards program that they really like? I'm just looking for some reviews before I commit. Thanks!
 
Dhampy  posted on May 18, 2013 1:38:27 PM - Report post

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The thing with cards with good rewards is that they're for people with established credit histories. If you don't, you probably won't get accepted and if you do your rate is going to be monstrous.

You need to build your credit before you'll get an acceptable rate on a card with good rewards.

When starting out, you used to look for a store card. But these days, a better move is a secured card.

A secured card is usually from a bank and you plunk down a deposit which will become your credit limit. A secured card may have rewards, but probably like cents off a tank of gas at some local gas station or spend eight billion dollars and get a five dollar amazon gift card.

Use it as you would have used your debit card or cash: for everyday expenses. BUT: you only want to use about 10% to 20% of your available credit.

Do this regularly and watch your credit rating skyrocket.

Then you can get a rewards card with a reasonable enough rate where you can actually use it.

 
DABhand  posted on May 18, 2013 7:55:01 PM - Report post

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As said above, first timers are rarely accepted for low rate APR cards, 19.5% is for good and above credit rating.

You may have to start with a 35% and up card just to establish a good credit score.

But I would seriously reconsider getting one, only get one if you know you will have a good job for a long time or some source of guaranteed income, because if you start failing payments for a while... you will get black listed and it will be very difficult to be accepted for credit anywhere.

[Edited by DABhand, 5/18/2013 9:47:11 PM]

 
benduhova  posted on May 18, 2013 8:04:14 PM - Report post

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Well for one of the first times New Zealand beats others with money CC interest rates are 19.5 for the high rate and the low rates are 15.5 and have reward ponts as well just got me self one
Duh forgot to say which card its a BNZ globalplus visa

[Edited by benduhova, 5/18/2013 8:10:21 PM]

[Edited by benduhova, 5/18/2013 8:15:37 PM]

 
N1YTR0  posted on May 18, 2013 9:05:35 PM - Report post

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Got my first credit card when I was 20, ANZ low rate 12.2%.
After 6 months they added an extra grand onto it's limit because I rarely use it.
Only reason I got one in the first place was to act as a safety net incase of emergency, I'd recommend the same for anyone else, they are the devil.
 
Dhampy  posted on May 18, 2013 11:55:02 PM - Report post

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I used my last credit card so little that the company cancelled it.

A debit card is fine for me, and I've got enough history built to keep my score high for a while without maintenance.

 
N1YTR0  posted on May 19, 2013 4:18:01 AM - Report post

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Yep, I had the debit before the credit and that was good for being a few bucks short every now and then, though as I've been moving up the ranks in my trade and getting increasing pay, I'm needing such financial aiding less and less.
 
RageaholicRick  posted on May 20, 2013 10:08:52 AM - Report post

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quote:
originally posted by forty-two

Hey, everyone. So... I'm thinking about getting my first credit card. I really want a card with good rewards. Does anyone here have a credit card with a rewards program that they really like? I'm just looking for some reviews before I commit. Thanks!

If you are located in the US, and are a young guy, you can apply for the card I have, which is meant for those who want to start establishing credit.

Its the Journey Student Rewards Card by Capital One. It has some good benefits, low interest, and starts you off at a low balance so you can't spend so much that you will be screwed for life.

You can look at it here-> Link

One tip I can give you is to always pay on time, and pay ABOVE the minimum payment. If you pay above the minimum, credit raters will notice, and it will up your score. And in response to the person who talked about the Secured Card, I talked to a banker about those when figuring out Credit Cards for myself, and he said that it was actually a bad idea these days. Cant remember exactly why, as it was months ago, but he said to try and avoid those as a way to build credit.

Hope this helps!

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