Unofficial CREDIT CARD Information Thread

Discussion in 'Business, Careers & Education' started by HomerJ, Sep 2, 2011.

  1. HomerJ

    HomerJ Senior member

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    I thought this would be useful since SF gurls luv to shop

    How do you manage your credit?
    What's in your wallet?
    What's the best card for

    • shopping
    • travel
    • rewards
    • benefits
    • etc

    2 cards currently worth mentioning for sign up rewards:

    CitiBank ThankYou Premier - spend $2k in first 3 months get 50,000 points (= $500) There is a $125 annual fee which you may be able to get waived.
    Chase Sapphire Preferred - spend $3k in first 3 months get 50,000 points (= $500) Annual fee waived first year.

    Took me literally 5 minutes to apply and get approved. Spending the money is the easy part. Should have a free $1k in a few months.
    I would jump on these. The only time I've gotten sign up bonuses this high was targeted offers from AMEX for example but these are open to anyone.
     
    Last edited: Sep 2, 2011
  2. sinnedk

    sinnedk Senior member

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    That Citi card also has a bunch of travel perks, such as free companion tickets anywhere conus, but i dont like the percentage on it, thus i make sure its paid off every month
     
  3. HomerJ

    HomerJ Senior member

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    I think that's pretty much rule #1. Pay the balance each month to avoid interest.

    I usually just pay the entire current balance which includes charges that are in the interest free grace period. I suppose one could float some money during the grace period by paying only the statement balance.
     
    Last edited: Sep 2, 2011
  4. stevent

    stevent Senior member

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    Amex plat. Not a fan of reward points in any sense though, it never adds up to the actual value.

    Amex blue cash isn't bad in terms of pure cash return, no perks though.
     
  5. sinnedk

    sinnedk Senior member

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    AMEX is awesome if you travel a lot and never leave a balance. however, the rates are not amazing imo, if you need something that has a low rate there is many other options...
     
  6. stevent

    stevent Senior member

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    Yeah the lounge bonus is great and I always pay off at the end of the month. It's pretty much the substitute for my bank account.
     
  7. sinnedk

    sinnedk Senior member

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    idk i just dont think i spend enough to get the amex plat/gold fees waived
     
  8. deadly7

    deadly7 Senior member

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    Do they waive fees if you spend over a certain amount? I actually have the free [crappy] version of that card, but the perks on that one sound muchhhhhh better.
     
  9. HomerJ

    HomerJ Senior member

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    I don't think so. It's $125 annual which is hefty considering it's a 1 point/$ reward card.

    You have to book the companion ticket through Spirit Incentives. I haven't done it yet and don't know how much that's worth. I've heard that you only save 30%-50% over buying a normal ticket.

    Only reason I got the Premier was for the 50000 points.

    Someone breaks it down here but they're using 20000 points for the comparison.
     
  10. musicguy

    musicguy Senior member

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    ^^Got the same card.

    If you get the offer for Amex Gold Platinum Rewards, get it. After you spend 500 bucks they give you 50,000 points, enough for a $500 shopping spree at BB. You have to get the correct offer though. There is no way to sign up for this without being targeted. First year fee is free, afterwards it's like $400 a year or more. It's best to cancel the card after this.
     
    Last edited: Sep 5, 2011
  11. sinnedk

    sinnedk Senior member

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    sounds good,but bad for credit to open and close a card
     
  12. sinnedk

    sinnedk Senior member

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    you can get it waived if your their "citigold" memeber, meaning like 25k+ combined in bank accounts
     
  13. musicguy

    musicguy Senior member

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    Sure, but once in a blue moon, it's not going to ruin your credit.
     
  14. cheessus

    cheessus Senior member

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    my credit is pretty bad (~600) due to me being a dumbass in undergrad and living way above my means. ive closed 2 cards after paying them off roughly 4yrs ago, but had 2 other accounts taken to collections which i am currently in the process of paying off (should be done within 6mos).

    so currently i have no credit card and was wondering, what are some "good" cards that will help me rebuild my credit? bofa has one for people in my situation but the terms are pretty whack, so i havent pulled the trigger on it yet. i most likely wont be approved for the cards listed here lol.
     
  15. HomerJ

    HomerJ Senior member

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    What are the terms of the BOFA card? I don't know much about cards for this situation but I would apply for a card from Orchard Bank (HSBC). They have cards that are secured with a deposit as well as unsecured and will determine what you qualify for when you apply. http://money.cnn.com/galleries/2011/pf/1104/gallery.best_credit_cards_bad_credit/index.html
     

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