first credit card

[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

 

[rudder]

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

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.

 

[murphy55d]

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%?)

 

[Actaeon]

Use it wisely.

People like to overspend. Just remember its cash you'll eventually pay. Only more.

 

[RossMAN]

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?

 

[AzNmAnJLH]

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.

 

[vtformula]

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