Credit Card Discussion

Hi, I turned 18 a while ago and I am interested in getting my first credit card. What is the best credit card for people with little/no credit history? I am looking for one WITHOUT an annual fee. The main things I buy are gasoline and food. Do you guys have any recommendations? What are your personal experiences?

We started a program with “Consumer Credit Counselors” This progarm has us pay the Consumer Credit Counselors, then they pay the credit cards every month. All they do is lower some of the interest rates. They don’t negotiate amount owed. The payments are too high for us, so we looked into other alternatives. We found one company that will do it differently for less. They have you pay into an escrow account, and they pay off each credit card individually. They say they negotiate lower balances and interest rates. The payment would be lower and the payoff time cut in half. Does anyone know of any reason we shouldn’t do this? Are there any other better ways? WHAT IS THE BEST WAY TO GET CONSUMER DEBT RELIEF with no loans?

for when it comes to paying for the flight?

As major credit card issuers compete for customers, credit card rewards are ever plentiful. Today’s card holders can enjoy free sky miles, hotel and travel points, cash back for purchases, even money contributed to an IRA or transferred to a interest accruing savings account.

But which credit card reward is better? Points or cash back? Main contributors are the interest rate offered to card applicants based upon their credit scores, as well as the fine print regarding how to earn; and redeem, points and cash back.

When choosing a credit card rewards offer, decide what you desire most and which you can generate the most rewards. Since computing points is often confusing, many consumers choose a cash back credit card instead of a points card. With a cash back card, they know exactly how much money they will earn, and redemption is far easier. Even consumers who travel frequently will often prefer a cash back credit card instead of a points card for that very reason, plus because they have more flexibility on how; and where, to use the cash back. They don’t have to worry about point blackout dates, nor restrictions to a specific airline or hotel.

Another problem consumers face when choosing a rewards card, are card fees and whether or not they will payoff balances in full each month. Otherwise, fees and interest could be more costly than the cash back and points accrued.

For consumers who do not frequently travel, and those who do not patronize a particular airline or hotel, Credit Federal suggests a cash back credit card versus a points card. Some airline miles cards are limited to a particular airline, and may have restricted travel dates. With cash back rewards, not only do you know exactly what amount your earnings will be per purchase, getting and spending your cash rewards is much easier and more flexible. You can view various credit card rewards offered by major issuers; including American Express, Chase, Citi, Discover, Visa and MasterCard at Credit Federal.

Consumers desiring reward credit cards also face the scrutiny of a credit check. Typically the greater the rewards offered, the higher the credit qualification. Bad credit people are considered a high risk and generally do not qualify.

Before you submit an application for a rewards credit card, consider these tips:

To maximize your rewards, payoff balances in full each month. If you cannot payoff balances in full monthly, select a card with the lowest possible interest rate.

Check for rewards caps to see if there are restrictions on the amount of points, etc, you can earn.

Find a rewards card with no annual fee. Otherwise, the fee you pay may be greater than the rewards if you do not use the card frequently enough, or not effectively.

Avoid cards with reward expiration dates.

Avoid short-term, introductory only card rewards.

Browse for perks. Some rewards cards offer free perks such as travel insurance.

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-Never missed a payment (always paid most or all of the bill before or on the due date)
-3 Credit cards
-6 month credit history on one card

Only problem is I have 14 inquiries on my credit report. How good of a chance do I have to be accepted for a discover or american express student credit card?

I got a wellsfargo secured credit card and gave myself a limit of 500. I then checked my credit report and it said that small credit limits hurt your credit. should I up my credit limit? If so, whats the best limit to get to best increase my credit score. and whats the best way to use the card?

I recently found out(and was SHOCKED) that US Bank offers a SECURED Korean Air Skypass Visa Card. My question is does anyone else know of any other SECURED airline cards? Please let me know and list a site if possible. Thanks for your help.

I have never had a credit card before and every time i apply for one i get denied ………Well i just finish paying off the things that was on my credit report and wanted to know when i could apply for a credit card?

I have a cosigner that has excellent credit that will cosign for me to get a credit card to build my score plus to have for emergencies. My score is a 585. I pay my bills on time and don’t spend alot of money on dumb things. I just don’t have anything but a car loan giving me credit and a couple of old accounts that need taken care of.

I received an email from Southwest Airlines for a promotion of 16 rapid rewards credits if I get there Visa Signature credit card. They have an annual fee of $59. My question is can I sign up for the credit card, pay the $59 of course, receive the rapid rewards credits, and cancel it, or do I have to keep it for a certain time?