Post by Doggy Mommy on Oct 14, 2012 20:48:41 GMT -5
I just paid off and closed my credit card. DH is getting ready to do the same. Neither of them had great rates or any other reason to keep them.
We do want a card that will continue to build our credit and have a lower rate. I'd like to use it to earn some good rewards, but we have never used credit cards like that so I'm really not sure how it works. DH wants a card with no annual fee, but I think some of the cards with the best rewards have an annual fee?
Post by Doggy Mommy on Oct 14, 2012 20:52:33 GMT -5
We don't really NEED to build credit... it's just one of the reasons why we want to have and use a credit card (and pay it off each month). We have great credit and are not planning on any big purchases any time soon.
I would never close a CC unless there was a fee to keep it. To answer your question we have a USAA CC but it's just ok in regards to rewards points. I think chase has a rewards one.
I have a Discover card and absolutely love it. They have a ton of online retailers that offer an extra discount if you purchase something using your Discover card, they have quarterly 5% bonus programs, etc. No annual fee, customer service is really good.
What kind of rewards do you want? Travel? Cash back?
I guess I need to figure that out. We like to travel but don't have any current plans to go anywhere (we probably won't go anywhere until next summer or fall). Cash back is always good.
The rate doesn't really matter unless you carry a balance, and carrying a balance defeats the purpose of having a card to build credit, closing a card can also cause a negative effect on credit.
I have a Discover card and absolutely love it. They have a ton of online retailers that offer an extra discount if you purchase something using your Discover card, they have quarterly 5% bonus programs, etc. No annual fee, customer service is really good.
Ditto. Discover has been great, especially the customer service.
Random- but NFL card through Barclays you can get $400 cash back when you spend $1000. If its being offered still. Or Citi premiere card is good as well.