Credit Card Suggestion

npales · July 2009

E & I want to get a CC to put the rest of our wedding charges on. We are planning on paying it off right away, but we want something that will give us a bit of breathing room instead of completely wiping our savings account (does this make sense?). Anyway, if you have one that has good rewards, cash back, low interest rates (even if just introductory since it will be paid off right away), please post which ones you recommend. I am not looking for a lecture on debt. We have the money to pay for the rest of the wedding, we just don't want to use our bank accounts right now in case of an emergency.

d78 · July 2009

I was on the MM board last week and people were talking about how a lot of the rewards are really dwindling because of the economy. I heard a couple good things about Capital One and American Express, but don't remember which specific cards. Obviously, some of those reward cards can have steep annual fees, too. I have a low rate on the cc through my credit union. It's 9.9%. Maybe if you belong to a credit union, you could start there for comparison's sake.

colleenmclaughlin1 · July 2009

I've been using my Discover to do the exact same thing because of the cash back bonuses. We have the cash, but I figured, why not earn the points and carry the balance for a month? FI also has a Visa Signature that he has a good rewards program with. His is through Bank of America, though (that's where he has the mortgage and his accounts) so I don't know if that's why his rewards are so good.

jennybean2010 · July 2009

my parents have a visa with royal caribbean and use it instead of their debit cards. at the end of the month, or whenever the statement comes, they pay it in full since in essence their bank account has not been touched so the money is there (i'm sure this takes some discipline that i do not have right now!). this way they rack up mad points all month long but don't carry the debt. they have already taken one free cruise, and have enough points already for another to take next year. they use it to pay for wedding things as much as possible as well. it's perfect for them.i'm not necessarily suggesting the RC card to you, but i do suggest something that will give you rewards towards something that you and FI/DH to be will really enjoy, like traveling. as for the interest rate, i have no idea what it is. FI always waits for the pre approved ones to come in the mail and researches those when he needs a new card. he has gotten some really great cards that way with super low interest for the length of the membership, rather than for only a year or so.GL! (and no lecture here-i totally hear ya)

kbielak17 · July 2009

I actually just got a new one, I use my credit card like a debit card in that I pay it off in full every month, but this way I can get some kind of "reward." Anyway, I have the Chase Freedom Mastercard, it gives you 1% back on all purchases and then throughout the year there are also "bonus" items where you get I think 3% back. You can get back cash, travel rewards, credit to your statement, gift cards, etc. so there are a lot of options.I think it is 0% interest for 3 or 6 months, can't remember. HTH.

PSUBride2Be · July 2009

I like Dori's suggestion of using a credit union. You can often get a loan at a good rate through a credit union, and I would be willing to bet that rate would be better than any credit card out there (and no annual fee!). GL!

d78 · July 2009

Gosh, I could never use a CC as a debit card and pay in full each month. I know I would spend waaayyy more than I could afford. I learned this through my current credit card situation. Once I get my current one paid off, I don't want to deal with them ever again unless it's a true emergency!

npales · July 2009

Thanks so much ladies!We'll do some research and figure out which one is best for us. The plan is to use it like a debit card and only carry the balance for a month.

d78 · July 2009

P.S. Hope my last post didn't sound like a lecture! I was just feeling sorry for myself and lack of self-control! LOL

npales · July 2009

It didn't at all D! I would do the same thing, so this one is all on E. He has amazing self-control when it comes to $

d78 · July 2009

Haha! Can he teach DH that skill of self-control with $$? We need to get rid of some toys and keep them gone! LOL

daveys_baby · July 2009

We bank with National City and we have their Visa Credit. It has rewards, you get a certain percentage back for different purchases in the form of a check (I think 2x a year), I'm not sure how much rewards you'd get for wedding stuff, most of our rewards are from groceries, restaurants, and gas. Sorry I don't have info on the interest rates since we pay it off every month like you're planning to do.

dicer2 · July 2009

I use a Sunoco mastercard. It gives me 1% back on regular purchases, and 4% back from Sunoco gas purchases. I use it for everything, all my bills, all purchases. Then I pay it off every month. I get maybe $15-20 back per month, I think my lifetime savings have been around $900.

kwynn · July 2009

I have a Citicard Mastercard and put everything on it (paid off each month like you are planning to do). I get these Citi Points, but they are pretty worthless to me.My DH puts everything on a Chase Visa and he gets the cash back rewards.The best way to find a great card for you is to explore the options on bankrate.com (Click the Credit Card tab at the top and then you can check out low rate, rewards, issuer, or whatever is most important to you)When I got my card, it had 0% interest for six months, which is why I chose it. But I agree with the PP that a lot of the cards rewards have been lousy lately. HTH!

New_to_PGH · July 2009

We put EVERYTHING on our cc's, and pay it off at the end of the month, just for the bonuses. We use Citi for cash back (1-3%, depending on what you buy), and I have an american air card for frequent flier bonuses (because I'm already a platinum frequent flyer, there's no annual fee for the card). Definitely read the fine print to make sure you aren't signing up for anything with monthly/annual fees, expiration on your bonus (must be used within 6 months or something), and that the interest rate can't be jacked up on you without notice.

Credit Card Suggestion

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