What credit cards do you use and why, Veeky Forums?

New_Cliche
New_Cliche

What credit cards do you use and why, Veeky Forums?

Alaska Air Visa Card for the annual companion fare so my SO and I can visit my parents in Seattle for the holidays
Citi Double Cash Back for miscellaneous purchases
JetBlue for 2X on groceries and restaurants
Crappy BoA travel card I only keep open because no annual fee and lengthens my credit history

Raving_Cute
Raving_Cute

so, if you pay your bills using these cards, and then immediately pay the balance off, you earn free shit?

Lord_Tryzalot
Lord_Tryzalot

First card is a navy fed cash rewards card, 1.5% back on everything. Decent.
Just got a 2nd card, Visa Signature GoRewards, 3% back on food, 2 on gas, 1 on other.

Only had my first card for about 8 months, 2nd card was approved for 10k limit. Not sure if that's average or good.

Sir_Gallonhead
Sir_Gallonhead

Yep. The only reason finance bloggers talk about how "risky" they are is because people are retarded with their spending, don't pay their bills, and get hit with high APRs. But pay your bill in full, and they're literally zero-interest loans that come with free money.

MPmaster
MPmaster

im getting a secured card from usaa because no credit history
i want to be you basically
should i put down 2k deposit on the card so i get around 30% utillization by spending around 400-600 each month?

Evil_kitten
Evil_kitten

Or you could just get a real card... Even with shit credit I bet they give you a 1k-2k limit.

farquit
farquit

$10,000 credit limit is pretty standard for someone with a very good to excellent credit score and at least a few years credit history. My most recent approval (4th card) was $18,000 (totaling $48,000) which is my highest so far. Bonus of multiple cards/expanded credit line is it improves your debt-to-credit ratio, boosting your score.

The only downsides are a) if you're a pathetic tryhard who's desperate to look and act richer than you actually are and don't have the self-control to stop spending money on shit your can't afford, b) if you churn-n-burn cards by signing up exclusively for travel/cash back bonuses and closing quickly after (hits your credit score), c) if you're a moron who can't track more than one credit account.

viagrandad
viagrandad

tried everything and got denied
im a 22 year old immigrant with no credit history of any kind, no house ownership and no rent history (military)
whats a good overall card to keep applying for once i break in my secured?

5mileys
5mileys

Good to know I'm on the right track then, I only use my credit as a method of payment.

Only opened a 2nd one after looking up my score. Basically my score is good, but short credit history (less than 1 year) and having only one open account were the only negative aspects.

w8t4u
w8t4u

If you genuinely have zero credit history, I've heard secured cards are a decent way to build credit. But given the shitty deposit, I know it's not ideal. I know there are student cards with modest cash back opportunities and I can't imagine they expect students to have much credit history (could be wrong on this though).

Playboyize
Playboyize

Given your short history I wouldn't recommend opening a multiple cards in a short period of time, but it sounds like you're doing all the right things.

Depends on what you want. There are a bunch of cards that offer "rotating categories" (groceries, gas, restaurants, Amazon.com, and such) of 5% cash back, but you have to opt into categories and there's no guarantee it's something you'll utilize (I live in NY and don't have a car, so 5% cash back on gas is worthless to me). I much prefer Citi Double Cash Back (1% back at check out, 1% back when you pay) for straight cash back.

If you like to travel like I do, then a travel card is great. I like JetBlue because they're hubbed out of where I live, charge no annual fee, no foreign transaction fees, and double your points at grocery stores and restaurants. I know a bunch of people rave over Chase Sapphire Reserve which can be used toward any travel expenses, but it does have an annual fee. So I'm personally holding off on that one.

Burnblaze
Burnblaze

just applied for Discover it® for Students and ̶l̶i̶e̶d̶ alternatively reported on a bunch of shit like personal worth and income and for the first time didnt get automatically turned away, but also theyre gonna look over my application

Flameblow
Flameblow

That could be positive. I always get "pending" and I have near-perfect credit.

I'd usually recommend calling the reconsideration line tomorrow to help expedite the process, but that's really only helpful if you have honest and helpful information to provide. If you lied, you're probably best off waiting. Good luck!

RavySnake
RavySnake

my line up

chase slate
chaser sapphire preffered
sams club
amex blue cash back

BlogWobbles
BlogWobbles

I don't fly or eat out often and have long quit chasing rewards. I put all
of my spending and recurring bills on a Citibank 2% cash-back. ~$800/month in spending gets back $200/yr. So simple and much easier than chasing rewards/bonuses (which I really think entices you to spend more money than you really intend).

Spamalot
Spamalot

Depends. I'm able to put rent on my credit card, so getting to even high threshold bonuses (like $4-$5,000 in first 3 months for 50-100k points) doesn't demand me to go on a shopping spree.

Deadlyinx
Deadlyinx

i have been trying to explain this to my mother.
cc rewards cover my total banking and insurance costs.
she still don't get it.

Skullbone
Skullbone

Credit cards in canada suck huge dick.

The vast majority offer only 1 to 1.5% cashback.

There are a few that offer slightly better rewards but they require a yearly fee.

JunkTop
JunkTop

here too, but i still found a 3% cashback on groceries and a 20% cashback on seasonal they are bot capped tho.

vast majority of cards are shit. they only offer 1-2% and not in cashback but in points and coupons and shit.

Need_TLC
Need_TLC

I will get a few cold calls a year about having me switch to some other BS card of theirs.

"but sir it has a higher cashback rate"
"is there a yearly fee ? I'm not interested"
They jews know how to hook you.
You need to spend thousands of dollars just to break even after their typical ~99/year fee.
And then thousands more just to get ahead of the person that has a lower cashback rate but no fee.

I honestly don't bother with that shit since the rewards are so slim, I save a lot more money by simply not buying shit I don't need in the first place.

lostmypassword
lostmypassword

well cards here have all yearly fee if they offer cashback above 1%. no exceptions. average is about $30. now they are also capped in rewards at an average of $150 so what you can max out it $120 a year. you have to spend $4k to max that out. if you spend that much normally then you are in for $120.

if someone spend more to get the rewards he is a rare dumb fuck. but still yearly fee cards can still be worth it.

BinaryMan
BinaryMan

Just buy a bunch of Amazon cards

StrangeWizard
StrangeWizard

why would i ever do that?

Nojokur
Nojokur

Having credit card at all
Not just debit card
What a wonderful mindset.

Illusionz
Illusionz

You get rewards without really losing money by buying something you don't need, that is if you tend to use Amazon at all
A chinko on YouTube saved 100% of his income one year by living off credit card rewards and doing things like this

Nude_Bikergirl
Nude_Bikergirl

Can't dispute transactions as well as credit
Carrying a hard line to your bank account everywhere you go
can only spend as much as you have
Vs
People that have credit cards also have a debit card so there goes your superiority
They get rewards for borrowing money they were gonna spend anyway
While they're getting paid to spend money they build their credit score which allows for better rewards and credit limit
They have x10 your purchasing power without spending any more than you do

Sorry but people who are afraid of credit cards are left in the dust in 2017
Enjoy not being able to rent a car ever or get an apartment

Garbage Can Lid
Garbage Can Lid

You get rewards without really losing money by buying something you don't need, that is if you tend to use Amazon at all
yeah well i don't buy from amazon because it's insanely expensive and i couldn't sell the cards in their nominal value so this would be a losing game.

Boy_vs_Girl
Boy_vs_Girl

i cherish the fact that so many people are afraid of cc. because they vendor pays 3-6% to the banks and card company for any cc transaction. that means if 80% of the people pay with cc everything would be more expensive by 3.6%.

so long people use cash and debit this increase is around 1% and i still turn 2% profit on the cc use.

Dreamworx
Dreamworx

Couple of department store cards cause i was dumb kid.

Visa, mastercard, citi, discover.

Credit building and low interest.

Discover was free credit check before i found credit karma.

Almost 800 credtis score.

When i get to 850 or so gonna get a home loan, sell my 2 shitty houses, get loan or cash for 1 nicer rental, and cancel andy cards i dont use.

Credit suicide for 3 years. 0 fucks given.

Have better cards and spotless 850 credit when ready to refi both houses for 3rd descent rental.

Rinse and repeat.

Crazy_Nice
Crazy_Nice

U get turned down for secured cards?

Sir_Gallonhead
Sir_Gallonhead

I had 4 credit cards 2 years ago and shit credit. Had to get secured cards.

780 fico now

Soft_member
Soft_member

Having 450 credit score and loans at 30%.

Get 6 cards.

Having 850 credit score and debt consolidation loan at 8%.

Welcome to america. Where if u are stupid you can make up for it by getting another loan at a lower interest rate.

Mfw

Illusionz
Illusionz

i detest travel so just citi double cash
they won't raise my limit from 4.5k because im a bad goy with no loans

SniperWish
SniperWish

It's "free money" insofar as the Bank is providing financial incentive to use their cards by offering a portion of their own income they make off purchases. For every retailer that accepts the credit cards network (visa, etc) they pay a small premium on that to the credit card to use the service.

DeathDog
DeathDog

which in turn will be charged to the consumers including you. and the circle closes the only one making a net profit is the card company.

eGremlin
eGremlin

How often were you offered line limit increases? Every year?
Citis double cash is pretty swell, free monthly fico swords and virtual card numbers to purchase thinks from chinkland along with insurance against theft.

Of course the company is making a net profit, since they are offering a service. Without it, we would have to pay everything in cash and coins are literal satan to deal with.

BunnyJinx
BunnyJinx

mbna Smart Cash Platinum Plus

Ignoramus
Ignoramus

debit cards are for cash withdrawals you clot

they are more vulnerable to crime/your own stupidity because the banks dont cover them with the same protections as a credit line

Need_TLC
Need_TLC

How long do missed payments last on your credit report? I've had some mishaps two years ago due to family and I've been keeping it steady for almost a year, but it seems the old late payments are still impacting my score.

TreeEater
TreeEater

Two years is standard.

Emberburn
Emberburn

SO
no

Deadlyinx
Deadlyinx

It has a 300$ travel credit. If you got it last year it pays for itself in two years.

iluvmen
iluvmen

supposedly six months
they didn't offer me after 6 so i requested it myself and got told to fuck off

Lord_Tryzalot
Lord_Tryzalot

I have a 690 TransUnion score and got approved for Chase Freedom Unlimited immediately. 15% interest. It's my first credit card so I'm pumped to make it rain in the club and worry about everything later.

Spazyfool
Spazyfool

i liked TD better because i hate jews but my mom made me get chase. ultimately blue wallets/cards make you spend more money, whereas green gives you a save money feel.

TalkBomber
TalkBomber

Zero credit card debt and I instantly pay off my credit cards when I buy shit so I feel the sting immediately. All my credit cards are free because fuck paying annual fee for a card.

I am a Canuck so this is what I use:

Crappytire Options
I get 4% back at their store, Marks Work Warehouse, and Sports Chek plus $0.04 back from their gasoline, and I can pay my bills off with it. They also have exclusive credit bonuses every week where if you buy their select shit you can get 8%+ back.

PC Financial World Elite
PC Financial gives zero fucks about you lying about your income to get this card.
3% back at Loblaws stores, and Shoppers Drug Mart. Plus you get $0.02-$0.03 off gas at Esso and at Superstore Gas stations you get $0.07-$0.10 off gas. They also send you a bunch of exclusive credit card deals all the time; for example I got a Joe Fresh offer where if I spend $70 at their online store I get free shipping, some percentage off their clothes, and a $20 gift card.

Rogers Credit Card
I get 1.75% back flat so I use it where I do not use my other credit cards and there is zero money exchange fees. You can redeem your money once a year as a statement credit which is nice.

Crapital One Costco
3% back at restaurants and 2% back at gas stations. Plus I use it as my Costco membership. Every year you get your money as a cheque that you can use at Costco or redeem it for cash.

whereismyname
whereismyname

Capitol one secured credit card, im poor and have bad credit

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