What Credit Card Should I Get?

[irondarts]

Damn, some very good info in some of these recent posts.

So far looking like the Discover IT and Fidelity American Express Rewards Card are my favorite two. I don't earn very much monthly and am only 20 years old though so who knows if I'll get approved.

And just to clarify, so if I pay my bill in full and on time each month with each of these cards, then I won't have to pay a dime more than I would if I were using a debit card?

That's correct.

Since it's your first credit card my advice would be: be careful. be sure to pay it off in full every month.

If you don't have a lot of credit the Visa Amazon Rewards Card is a pretty basic credit card that has some nice rewards (amazon gift cards, etc).

[BigBoss]

Unless you got a career job don't get one. Don't spend money you don't have. It should be illegal to give credit cards to people without minimum 30 k jobs in my opinion.

[It's A VC3!!!]

Chase freedom is great for your age. There is a special promotion going on right now that if you spend $500 within the first 3 months you will get $200 back. There are also 3-4 categories every quarter that return 5% cash back to you. Gas is about two quarters every year. No a annual fee either. Would recommend that.

[It's A VC3!!!]

And just to clarify, so if I pay my bill in full and on time each month with each of these cards, then I won't have to pay a dime more than I would if I were using a debit card?

Even if you pay your statement balance every month you won't pay any interest. You don't need to just pay the current and total balance to avoid interst. The statement balance is fine too. Here is the difference between paying statement balance and current balance. If you always pay your current balance every month it will get reported to credit bureaus that your using 0% of your credit since they will essentially be reporting a zero balance at the end of the month. Nothing wrong with that though. By always paying your statement balance every month it will show that you're utilizing credit. Also if you get a capital one credit card you get access to a free credit report anytime you want with a simple click from Trans Union.

[senelcoolidge]

walmart

[sick_brah07]

The best piece of advice anyone can give you here is dont get one. Spend your own money why risk getting a credit debt

[enayes]

I don't understand why some people are against credit cards. I'm 24, and have had a credit card for about a year. I have the Bank of America Cash Rewards card, I get 3% cash back on gas, 2% on groceries and 1% on EVERYTHING. If you use a credit card for all of your purchases you WILL NEVER PAY FULL PRICE FOR ANYTHING! That's what I love the most about credit cards, your always saving a little bit of money.

Of course, this is only true if you pay off your balance each month, which I knew wouldn't a problem for me. It's hard for me to imagine how so many people let themselves fall behind on their credit cards. It's not that hard to be responsible and know what you can afford.

I just got approved for the Chase Freedom card as well, not sure which one I'll use the most but I wanted to get the free $200

[bigkingsfan]

The best piece of advice anyone can give you here is dont get one. Spend your own money why risk getting a credit debt

Building your credit score is never a bad thing, so many free perks for signing up with CC too. My score is like 770 with 7 CC.

[Bless Mathews]

Remind me to never believe a kid has to say about analyzing anything if he don't know what APR is.

Op gave him self a forever ether card.

[Godzuki]

everyone should get a credit card at a young age to build up your credit. if you don't have any built up credit then its like being a kid even if you're 30 if you're trying to get a loan where the loan officers don't see any responsibility in your report so they have nothing to go by and then you get denied.

i'd say go for MC/VISA. they're by far the most accepted. and since you're not traveling much i'd assume and aren't spending much its not like you'll be accumulating much reward points. Part of the problem with those reward cards is they tend to have fee's which offset the rewards.

[FatComputerNerd]

I mainly use the Fidelity amex Rewards.

I don't fly much, and the 2% on everything with no fees is nice.

Like another poster said, you can set it to auto-deposit the reward money into your fidelity account, or x-fer it to your bank.

Not a big fan of their payment system is the only thing. I signed up for paperless billing a while back but never seem to get my statement emailed. I just know what day of the month my billing cycle ends and am sure to go online and pay it off in full each month.

The Chase Amazon card (mentioned by others) is also not a bad choice, especially if you do a lot of online shopping. I think all your reward points basically turn into free amazon money.

Whatever card you use just be sure to not carry a balance. Pay it off in full each month so you're not paying interest, and be sure to go with a card that has no annual fee.

[LockoutOver11]

when your in debt in about 2 years probably less than that since ur 20... i hope u can get approved for the chase slate card... 18 month no interest..also on balance transfers with no transition fee.... i accept your thank you from the future...

[enayes]

when your in debt in about 2 years probably less than that since ur 20... i hope u can get approved for the chase slate card... 18 month no interest..also on balance transfers with no transition fee.... i accept your thank you from the future...

Almost every credit card offers 12 or 18 months of no interest. I had 12 months but I still paid off my card in full as I didn't want to have to deal with a large balance at any point.

[Balla_Status]

I know it's only anecdotal evidence but every maaaaaa ****aaaa told me that I should be getting a credit card, yadda yadda when I was 18/19/20 and that I would never actually get one unless I got one. Whatever sense that makes. I don't really buy that you'll never get one unless you get one.

I finally got one at 22 after getting some cash in the bank and got it with ease. It was only an $800 spending limit but it was pretty easy to pay off. Got a loan within two years because of it.

I don't believe every young dude should get a credit card either. I've seen it **** some people up in college. Everyone had the option of a dorm phone but I never used it. Only my roommate did (he hooked it up with his own landline phone) and I had no idea what the number was. Two or three times during the year, I got a phone call from a bank asking me to sign up for a credit card. That's how sleazy they are. They WANT college students to get credit cards.