Who should I get credit card from?

[LeeNetworX]

Originally Posted by Porkchop

DON'T EVER GO THROUGH CAPITAL ONE. Just eliminate that from any considerations right now. Shady shady company.

Discover Card. /End of thread

Discover? Not widely accepted, especially outside of the US. That would be my last choice or suggestion for someone, unless they used it and paid it off regularly at the same places for business expenses, etc. - then the cash back reward would be worth it.

I have two Capital One cards and I have zero complaints with the company.

[Rangerscott]

Originally Posted by 101lifts2

Yeah I understand the difference, but I was trying to figure out what you wanted.

Listen...a debit card is a debit card because it is tied directly to a checking or savings account. Visa or Mastercard logo is irrelevant as it is still a debit card. Whether the transaction is taken as a charge or a debit is not relevant.

Now a credit card is a line of credit, money which you do not have. Do you have or have you had any other loans? If you never have any other credit cards or car/student loans, you aren't going to get a CC all that easy. Most likely they will want a deposit unless you get a co-signer. Credit history is much more important for obtaining a cc. Checking or savings account never even show up on credit reports.

Already know all of that. Yes I have a good credit history.

[OneSickPsycho]

Depends on how you want to use it. I have three cards, one was my first decent card with an ok rewards system - my water bill goes on there every month, just to keep it alive. The other two - one with a really low rate and ok rewards... The other with higher APR and an awesome rewards system. The low rate card is for emergencies and big purchases - like when I needed a new A/C for the house. I have the cable, cell phone, and e-pass on this card keeping it going in the mean time. The other card is for everyday purchases... I use it constantly and generate nearly $500 cash back per year.

All three of my cards are VISA's.

There are also benefits to certain cards - extended warranties, emergency roadside service, etc

Oh, I forgot... All the cards are paid off every month, unless there's an emergency or other big expense.

[lauralynne]

whoever told you you NEED a cc is full of shit. My bank will cover any fraudulent charges on my debit card. I haven't had a credit card in over 12 years now. I don't NEED one. Haven't needed one in that period of time. Won't ever get one again. My debit card with MC logo is all I ever need.

[Rangerscott]

Originally Posted by lauralynne

whoever told you you NEED a cc is full of shit. My bank will cover any fraudulent charges on my debit card. I haven't had a credit card in over 12 years now. I don't NEED one. Haven't needed one in that period of time. Won't ever get one again. My debit card with MC logo is all I ever need.

I know I don't need one (I'm 25 and still dont have one) but it is a lot easier the get your money back. All it takes is a phone call. If your bank doesnt catch it fast enough you have to go in sign papers and have to have another card mailed to you. I'm still waiting on mine.

It's not just about fraud. It's just being able to get your money back faster and easier. Plus when you use a debt card online, it's a gateway straight to your checking account.

[Captain Morgan]

Ugh, not this again. Go read t-rock's thread in cage hell about which he should buy. Forget credit cards, period. Having a credit card is even worse than having a car loan. Sure, you'll pay the card off every month. But, one month, you'll end up spending more than you can afford to pay off. Why, because you NEED this one particular item. Then you get caught back up, or you take away savings to pay off the card. Whatever the case is, you get caught in a cycle of spending on credit. Stay away from credit cards and other debt. Get in good habits while your young.

Originally Posted by Rangerscott

I know I don't need one (I'm 25 and still dont have one) but it is a lot easier the get your money back. All it takes is a phone call. If your bank doesnt catch it fast enough you have to go in sign papers and have to have another card mailed to you. I'm still waiting on mine.

It's not just about fraud. It's just being able to get your money back faster and easier. Plus when you use a debt card online, it's a gateway straight to your checking account.

Well, you sort of know that you don't need one. Want to avoid someone taking all of your money out of your checking account, but still want to buy something online? Then open a second checking account and get a debit card for it. Keep the lowest possible balance you can keep in the account in order to avoid minimum balance fees (hopefully you already use an account without any fees). When you want to buy something online, transfer money from your regular checking account into the other one. Then use the debit card to make your purchase online. With a debit card, thieves can't take what you don't have in the account. The card will simply get declined. There, now you truly don't need a credit card.

[Rangerscott]

Originally Posted by Captain Morgan

Ugh, not this again. Go read t-rock's thread in cage hell about which he should buy. Forget credit cards, period. Having a credit card is even worse than having a car loan. Sure, you'll pay the card off every month. But, one month, you'll end up spending more than you can afford to pay off. Why, because you NEED this one particular item. Then you get caught back up, or you take away savings to pay off the card. Whatever the case is, you get caught in a cycle of spending on credit. Stay away from credit cards and other debt. Get in good habits while your young.



Well, you sort of know that you don't need one. Want to avoid someone taking all of your money out of your checking account, but still want to buy something online? Then open a second checking account and get a debit card for it. Keep the lowest possible balance you can keep in the account in order to avoid minimum balance fees (hopefully you already use an account without any fees). When you want to buy something online, transfer money from your regular checking account into the other one. Then use the debit card to make your purchase online. With a debit card, thieves can't take what you don't have in the account. The card will simply get declined. There, now you truly don't need a credit card.

I already do that. Checking accounts dont build credit and I'm not going to take out a loan when another one is done. I don't have a mortgage so I need something to keep my credit score updated.

[EpyonXero]

Originally Posted by lauralynne

whoever told you you NEED a cc is full of shit. My bank will cover any fraudulent charges on my debit card. I haven't had a credit card in over 12 years now. I don't NEED one. Haven't needed one in that period of time. Won't ever get one again. My debit card with MC logo is all I ever need.

This is true. When you make a purchase on your debit/check card as "credit" you are covered by the same protections that all other Visa/MC credit cards have. When you use debit Visa is out of the loop so its between you and your bank.

[OneSickPsycho]

Originally Posted by Krabill

I have two credit cards. A Capital One and an AT&T card. I haven't had any problems with Capital One. I used to have a really good rate on it, but it went up about a year ago. I don't put anything on it anymore, but I still have it open. Hasn't caused me any headaches. The rate on my AT&T card goes up and down. It's not too bad right now and I had to put a couple medical bills on there and my netflix runs through it. No real problems with it either, except for the rate that jumps around.

You should throw a monthly payment of some sorts on your card you don't use... Eventually they will shut it down for lack of use, then it'll hit your credit. Reoccuring payments, with a reoccuring payoff every month from your checking account is a good way to do that. I have that setup for some of my stuff.

Originally Posted by lauralynne

whoever told you you NEED a cc is full of shit. My bank will cover any fraudulent charges on my debit card. I haven't had a credit card in over 12 years now. I don't NEED one. Haven't needed one in that period of time. Won't ever get one again. My debit card with MC logo is all I ever need.

Yeah, when some Nigerian scammer comes along and wipes out your entire checking account in 24 hours, then tell me you don't need a credit card. Sure, you could use your debit for everything, but I've had that shit happen twice and it FUCKED me with late charges on a bunch of other shit because my checking account wiped clean. Sure, both banks handled the situation and got me my money back... one took about a month, the other two weeks. Just enough time to come in late for most of my monthly bills.

Originally Posted by Captain Morgan

Ugh, not this again. Go read t-rock's thread in cage hell about which he should buy. Forget credit cards, period. Having a credit card is even worse than having a car loan. Sure, you'll pay the card off every month. But, one month, you'll end up spending more than you can afford to pay off. Why, because you NEED this one particular item. Then you get caught back up, or you take away savings to pay off the card. Whatever the case is, you get caught in a cycle of spending on credit. Stay away from credit cards and other debt. Get in good habits while your young.

Well, you sort of know that you don't need one. Want to avoid someone taking all of your money out of your checking account, but still want to buy something online? Then open a second checking account and get a debit card for it. Keep the lowest possible balance you can keep in the account in order to avoid minimum balance fees (hopefully you already use an account without any fees). When you want to buy something online, transfer money from your regular checking account into the other one. Then use the debit card to make your purchase online. With a debit card, thieves can't take what you don't have in the account. The card will simply get declined. There, now you truly don't need a credit card.

Not everyone is completely irresponsible with their debt. I am not debt free, I have several monthly payments, but I also have a savings. Student loans, mortgage, and a vehicle payment totals my revolving debt. My credit cards are paid off every month, unless some emergency situation comes up. I've financed a lot of things for 0% for 12-14 months, paid it all off and saved money in the process.

Oh, and banks are getting keen on having multiple accounts... If you're going to go the debit card route with multiple accounts, you'll most likely need to go through two separate banks. Chase just recently wanted to start charging me for my extra checking account, so I converted it to a savings account.

Originally Posted by Rangerscott

I already do that. Checking accounts dont build credit and I'm not going to take out a loan when another one is done. I don't have a mortgage so I need something to keep my credit score updated.

Do it man. Get a credit card and use the shit out of it. Build your credit and earn points/rewards. Keep your purchases limited to normal every day things and you don't need to worry about it. Start dumping 10 PS3 games, a new flat screen and a bunch of other shit you wouldn't normally purchase on it and that's when you get into trouble. I never check my balance on my cards, but I don't buy a bunch of excess shit either... I just buy my normal every day shit and nothing else. Turns out, my CC bill is always within $100 of the same thing every month.

Originally Posted by EpyonXero

This is true. When you make a purchase on your debit/check card as "credit" you are covered by the same protections that all other Visa/MC credit cards have. When you use debit Visa is out of the loop so its between you and your bank.

My experience tells me otherwise. Still gotta go through the bank, still gotta wait forever to get a new card, your money back, etc. Maybe things have changed in the past 5 years, but the last time my card was compromised - despite the fact that they were 100% credit card purchases - I still had to go through all of the BS.

[Method]

Originally Posted by OneSickPsycho

You should throw a monthly payment of some sorts on your card you don't use... Eventually they will shut it down for lack of use, then it'll hit your credit. Reoccuring payments, with a reoccuring payoff every month from your checking account is a good way to do that. I have that setup for some of my stuff.



Yeah, when some Nigerian scammer comes along and wipes out your entire checking account in 24 hours, then tell me you don't need a credit card. Sure, you could use your debit for everything, but I've had that shit happen twice and it FUCKED me with late charges on a bunch of other shit because my checking account wiped clean. Sure, both banks handled the situation and got me my money back... one took about a month, the other two weeks. Just enough time to come in late for most of my monthly bills.



Not everyone is completely irresponsible with their debt. I am not debt free, I have several monthly payments, but I also have a savings. Student loans, mortgage, and a vehicle payment totals my revolving debt. My credit cards are paid off every month, unless some emergency situation comes up. I've financed a lot of things for 0% for 12-14 months, paid it all off and saved money in the process.

Oh, and banks are getting keen on having multiple accounts... If you're going to go the debit card route with multiple accounts, you'll most likely need to go through two separate banks. Chase just recently wanted to start charging me for my extra checking account, so I converted it to a savings account.



Do it man. Get a credit card and use the shit out of it. Build your credit and earn points/rewards. Keep your purchases limited to normal every day things and you don't need to worry about it. Start dumping 10 PS3 games, a new flat screen and a bunch of other shit you wouldn't normally purchase on it and that's when you get into trouble. I never check my balance on my cards, but I don't buy a bunch of excess shit either... I just buy my normal every day shit and nothing else. Turns out, my CC bill is always within $100 of the same thing every month.



My experience tells me otherwise. Still gotta go through the bank, still gotta wait forever to get a new card, your money back, etc. Maybe things have changed in the past 5 years, but the last time my card was compromised - despite the fact that they were 100% credit card purchases - I still had to go through all of the BS.

/This

Lotta folks scared to death of credit cards in here.

I have been using my card for all of my daily expenses for years. Pay all of it in full each month and sit back and collect the rewards.

Like OSP said, be responsible. If you have a large purchase you want to make (tv, etc), make sure you have the CASH for it before you buy it, put it on the card for the points and then pay off the card that month as normal with the cash you had allocated for the item.

I take the approach that I'm paying for everything with cash, but route all expenses through my reward card to gain the points.