Credit Card

[SuperBowlNachos]

Any suggestions on who to go with for a credit card?

I use Bank of America if that matters at all. The folks suggested I get one to build some credit. I'm extremely cheap so I wouldn't be charging stupid stuff to it. I'm the type to pay less now and get something in a month as opposed to pay later. So no worries about putting myself in debt.

[snepp]

Re: Credit Card

Bank of America is evil.


That's all.

[ScoobySnax]

Re: Credit Card

Discover More is a great card.

[mgoblue]

Re: Credit Card

I have a Southwest miles card through Chase that I like.

I earn Southwest miles for money I'd be spending anyways, and I also always pay my balance at the end of each month.

Why not get some free flights a year (based on however much I earn)?

[AUChase]

Re: Credit Card

It depends on what you're looking for and what you plan to do with it.

I have a Chase card (How ironic, right ? ) that I buy my gas on, because they give me so many cents back on the dollar for gas purchases. I just put the money to the side as I charge it and pay it back at the end of each month and I'm maintaining my credit and saving on gas all at the same time. I've all ready got good credit. I was able to finance a "sports car" without any co signers at the age of 21..

So if you're looking to do something just to build credit and don't want to buy anything un necessary or get yourself too far along, I would look for a company that has a good rewards program and only use it for certain types of purchases and emergencies. I've never had one and they're accepted at a few less places, but I hear Discover also has good rewards programs.

So you bank with Bank of America ? I ditched Regions (tired of the big name banks and their bul **** charges) and now I'm a member of America's First Credit Union.

[snepp]

Re: Credit Card

So you bank with Bank of America ? I ditched Regions (tired of the big name banks and their bul **** charges) and now I'm a member of America's First Credit Union.

I dumped the scum known as Wells Fargo and went to a local credit union. Couldn't possibly be happier.

My only problem is that I didn't do it a decade ago.

[cjonesfan921]

Re: Credit Card

I dumped the scum known as Wells Fargo and went to a local credit union. Couldn't possibly be happier.

My only problem is that I didn't do it a decade ago.

I've had almost no problems with the big bad banks.

[AUChase]

Re: Credit Card

Man, I've had some big problems with banks.

There's a branch around here called "First National Bank".

My sad story.
Disclaimer: It's long and not punctuated properly.

Spoiler

I was 18 and had an account there. I accidently had an overdraft (my fault). I went to straighten it out. I got there and was informed that since I didn't have it cleared within 7 days, it would be an additional $25 on top of the $35 over draft. The bank manager was nice enough to get rid of the additional $25 charge, but I still owed the $35. and my $9 service charged was scheduled to come out the following day so I asked the branch manager about it and she said it wouldn't effect my balance any, since I was clearing up an overdraft.

I gave them the exact amount I owed, because I was planning on shutting down my account the following week and I was going to swap banks. I come back to the bank in exactly 8 days and they say, well in order for you to close the account we need you to take care of this overdraft and late fee on your account. My immediate reaction wasn't good and she explained that my $9 service charge overdrafted my account again and since it was over 7 days before I paid it, I would have to pay them the $35 + $25 late payment. I asked to speak to the manager and she came out. I said, "Don't you remember me asking about my service charge and it effecting my account". She claims that she did inform me about it and that there was nothing she could do. I caused a small scene, because the teller was being a bitch and the manager lied to me and they wouldn't do anything about it, unless I drove to the main branch in Birmingham.

While part of it is my fault for not double checking and handling the situation right away, it was still lame of them to be that way. I had no problem paying the original overdraft and late charge, but the second set was just bull ****. I waited a month and didn't pay them anything and the only reason I did, was because they were finally going to turn it over to a collection agency. As much time and money as I had spent int heir branch, in two years, I was pissed at how they treated me.

[Trevytrev11]

Re: Credit Card

I have a Chase Freedom card, but I get extra benefits for banking with Chase.

At a min, you get 1% cash back and every quarter, you get 5% cash back on select categories (this quarter is groceries and movie theaters).

Since I bank with Chase, I get an additional 10 points per transaction + an additional 10% increase in points.

Example...for this quarter if I go to the grocery store and spend $100.

I get (100x 5)+(10)+(100x5x10%)=560 points...or $5.60 cash back.

If I spent $100 at Outback, I would get 120 or $1.20 cash back

Last year on average, I think I earned 1.5% cash back. We had almost $1,000 to put towards Christmas (that is what we use our points for).

We use our credit card for absolutely everything we possibly can, that makes sense to do so (Almost all bills, day care, etc.)

[SuperBowlNachos]

Re: Credit Card

I use Bank of America, but I am lucky enough that my bills consist of giving my brother X amount in cash a month for our rent and other stuff. So I have a free checking and savings account. There is one in my hometown and where I go to school and the app is easy to use so no complaints. The one here did just get held up for the second time in 6 months though lol. It's the only bank located in both towns so the convenience outweighs the evil corporation aspect.

Looks like Chase is a popular choice so far. What would Newegg be considered with their rewards? I saw they had 10% bonuses for "shopping online through Chase", but I couldn't find a list of merchants.

[dickey1331]

Re: Credit Card

American Express is really nice but depending on what you get, they have charge cards so you cant carry a balance.

USAA is excellent but I dont know if you qualify for it or not.

[Chrisksaint]

Re: Credit Card

Applied for a student one today to help build credit, don't remember what cause my mom kinda did most of it lol

Yuh my mom has USAA and it sounds awesome, I might look into getting with them eventually as my mom was in the navy for a bit and my real dad is still in the navy

[Jr.]

Re: Credit Card

I've always gotten my credit cards with the bank that I use. First one was BB&T when I started college, now I have a credit card with Wells Fargo. It was good when I first started because I simply used the credit card to buy what I would've normally bought, and I had 0% interest for the first 6 months on both of them so there was literally no difference in using a credit card or my debit card.

[bkrich83]

Re: Credit Card

USAA is great if you qualify as a servicemember or a dependent.

I have USAA, they handle my home/auto insurance, my banking, and part of my financial portfolio (my investment portfolio is spread across a few institutions).

I would say this, if you're getting a credit card, get one that does something extra, like frequent flier miles, or Chase has a sweet setup with reward points. I then use that card for all my monthly purchases and pay it off in full at the end of the month. I don't incur any debt, and I earn the reward points.

If you travel at all American Express is a great card as well, as there are several travel benefits built in to the card (car rental insurance, trip booking, etc. )

[Dispatch]

Re: Credit Card

I have a checking and savings account with Bank of America. Last September I opened up a credit card through the student program they have. So far I haven't had any problems. As a 21 year old who doesn't have a large income I didn't have a lot of options when it came to applying for a credit card. I just use it for the simple necessities and build credit. I pay it off every month and don't do anything crazy.

As long as you know you can be responsible with it then go for it!