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first credit card

V

vtformula

Junior Member
Hello Everybody,

I?m in the market for my first credit card. I don?t know much about what?s out there so I thought I would ask;

1) What kinds of credit cards are available?
2) What are your favorite credit card benefits?
3) I like the idea of ?cash-back? credit cards. Which cards give you the most cash back?

Thanks in advance.

Erik
 
Originally posted by: vtformula
Hello Everybody,

I?m in the market for my first credit card. I don?t know much about what?s out there so I thought I would ask;

1) What kinds of credit cards are available?
2) What are your favorite credit card benefits?
3) I like the idea of ?cash-back? credit cards. Which cards give you the most cash back?

Thanks in advance.

Erik
Click to expand...


if you think the idea of cash back is good, maybe you should rethink ever owning a credit card. I think discover is one of the bigger cash back deals. They charge 17% and give you back 1%. When you could just get a 8 or 9% card to begin with.

When shopping for a card, fraud protection is important. Just try to find the lowest interest rate and no fee credit cards. Basically most suck so I would also recommend that you buy a magnifying class to read all the small print they send you.
 
My first card was a Capital one visa. Low credit limit so you can't get into too much trouble. I currently have an Amex Blue, Discover and CitiBank MC. I like my American Express points best, over the cash back, because unless you spend a ton you aren't getting much back. (discover I think is 1%?)
 
How old are you?

Are you in high school or college?

Do you have ANY PREVIOUS CREDIT at all?

Would you be able to get a parent, brother/sister, friend, co-worker to co-sign with you?
 
read the fine print before getting one... low apr is a must awards is a must and additional fees should be minimal or else ur getting *bleep*
 
My first (and only) credit card is an American Express Blue for Students. I've only used it for one purchase so far - I bought a used book from an online seller and I wanted to be able to refund the purchase if the textbook wasn't exactly what I wanted.

I like it - their online services are pretty good.
 
Rudder: You mention that Discover charges 17% for the 1% cash back credit card. I would only end up paying that if I did not pay my monthly bill right? If I paid my credit card bill on time then I would never see the 17% charge right?

RossMAN: In response to your questions and to provide some background,

1) I am 24
2) Recently graduated from Virginia Tech
3) Moving to Leesburg VA to start new job
4) I don?t know if this builds credit but I have paid bills in my name before (phone, electric, cable, etc.).

I don?t really need a huge credit limit but I appreciate the convenience of credit cards. I use a MasterCard/Debit Card but was wondering about the cash back cards and other cards with benefits.

Again thanks for your advice.

Erik
 
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