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We are looking for a new credit card and could use DU advice...

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T Wolf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 02:44 PM
Original message
We are looking for a new credit card and could use DU advice...
Previously, we had dumped MBNA because they are so repuke-oriented. Citibank seemed the least-bad of the issuers, so we went with them. For two reasons, we just cancelled and cut up our Citibank MC. (1) They pulled a fast-and-loose switch with finance charges and (2) they are based in South Dakota.

The only other card we have is a Discover that is not accepted everywhere. So, we are looking for a no frills, no charge card that we can use at those places that don't take Discover.

Any suggestions will be appreciated.
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LynneSin Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 02:47 PM
Response to Original message
1. Get a Debit Card from your bank
Pretty much all credit cards you'll have issues with the rates and other screwed up charges so personally I think all of them are the same. If you still have a balance on your old Credit Cards, the find one that'll give you 6-9 months of 0% APR to help pay off the balance (but the expect the big jump at the end of the introductory rate).

Then get yourself a debit card which is like Visa but from your checking account. Save the Credit Card for emergencies
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Bridget Burke Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 03:18 PM
Response to Reply #1
4. My bank debit card is also a Visa....
Every "charge" goes straight out of checking account, but it works fine at places that ONLY take Mastercard or Visa.

I like American Express because the balance must be paid every month. And the extremely detailed statement lets me be sure that all online purchases are kosher. But some places do not take AmEx.
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LynneSin Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 03:50 PM
Response to Reply #4
6. But with a debit card the balance is paid every month
and at least with my Debit Card, I have details about how the money is spent or if the purchases are kosher or not.

The only reason I prefer keeping a VISa credit card on hand is that it's for emergencies only and I wouldn't have to pay it back all at once. Say I had a massive car repair bill - like $2000 worth of repairs. No way I would have that amount in my checking account; however, I could probably pay it back in 3-5 months.
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proud2BlibKansan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 02:49 PM
Response to Original message
2. We have survived for more than 20 years with no credit cards
We use a debit card for everything we would need a credit card for. The money we used to spend on credit card payments goes in to savings and when we need a large purchase, that we used to use a credit card for, we get the money from savings.

Works great. We are not in debt other than our mortgage and cars. We are looking at retiring in a few years and it will lots easier with such little debt.

I highly recommend it.
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philosophie_en_rose Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 03:13 PM
Response to Original message
3. Maybe check with your bank or credit union?
I barely use credit cards, but they're more secure than debit cards. ($50 liability v. everything in your account). I have a credit card with my credit union, with excellent interest and no fees. However, I've been with the bank forever and I have almost all of my money there.

I'd suggest checking with a credit union or bank.
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 03:44 PM
Response to Original message
5. Don't get a credit card ever again
If you need plastic for online shopping etc., get a debit card, it will do the trick quite well. But don't feed the CC beast. I've gone over twenty five years without a CC, and my credit rating is great, and I've never felt the lack of having one.

Oh, and you will be much less susceptible to ID theft.
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philosophie_en_rose Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 04:15 PM
Response to Reply #5
10. Credit Cards are more protected than debit cards.
Legally, credit card companies have to address fraud and it's up to the merchant to prove that the charges were valid. You have a $50.00 liability limit, for the most part. In addition, you can challenge charges for products that are unacceptable.

Debit cards can hold your account hostage and, once the funds are gone, good luck getting them back. If you don't notice right away and someone drains your account, you're mostly out of luck.

Credit Cards are traps, if you don't pay them off every month. However, if you do pay them in full, they work well and can earn freebies such as airline miles or gift cards.
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 05:01 PM
Response to Reply #10
11. Frankly, I've lived my entire life without plastic of any kind
And have always thought it was one of the better decisions I've made. I don't need it, I don't want it, I see know need to bother with it. I've traveled all over the country and abroad, and never, ever felt the lack of plastic.

People whine and moan about the horrors of CCs and CC companies, yet they continue to feed the beast. If you don't want to suffer the downsides of plastic, don't get it. Once you get used to living without plastic, you'll love it.
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Richardo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 05:42 PM
Response to Reply #11
14. We just got out from under ours and: never again.
Mrs R and I are down to our debit cards, the American Express cards, plus two gas cards. That's all, folks.
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Midlodemocrat Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 03:51 PM
Response to Original message
7. I thought you needed to have a credit card to rent a car
I remember when I got my first debit card, it didn't say 'debit card', then I remember reading something about people damaging rentals and the hold was on a debit card and when the rental agency went to charge them more, there wasn't any money in the account.
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AlCzervik Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 03:55 PM
Response to Original message
8. If it's just for something major like airline tickets or a rental car
amex is good to have, you have to pay it off at the end of the month and it's accepted at most places.
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AllegroRondo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 04:12 PM
Response to Original message
9. Its not so much the card brand, as the bank.
MasterCard and Visa are accepted virtually everywhere, you probably want to go with one of those.

But the big differences are at the Bank level. The bank determines what interest rate you pay, how much credit you have, etc. Shop around different banks to find a card you want. DONT get a card from a bank in Delaware or South Dakota - they have the WORST consumer protection laws, and the highest interest rates.
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flvegan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 05:34 PM
Response to Original message
12. Here you go
http://www.buyblue.org/directory/36

It'll take some legwork, but I'm sure these folks have credit card offers.

Good luck!
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Ramsey Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-13-06 05:37 PM
Response to Original message
13. American Express
Edited on Mon Mar-13-06 05:39 PM by Ramsey
I was looking for anew card last year, and researched this.


AE is the only credit company that isn't 90+% red, and has a new credit card called Blue. Be sure to pay your bills on time or their interest rates get pretty high.
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