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Magg 08-01-2004 09:20 PM

Credit Card Recommendations..
 
I've never used/had a credit card before - All Ive ever needed is a debit card compatible with visa/mastercard, I think its time I start building my credit so I have some opportunities for some other things.

Supposedly the credit Ive received from paying off the mortgage on 5 of my houses within a year isnt the appropriate type of credit that will get me good financing on something Id rather pay out over time.

So, time to build my credit rating (atleast the kind that is needed) - what card do you suggest? Low rate? Intro rate that lasts atleast a year preferably...

B40 08-01-2004 09:26 PM

Rate doesn't matter if you're paying off your card in full each time...

I'd go for a cash back card...

fr8 08-01-2004 09:27 PM

Do Discover or American Express's Blue card. They both offere money back.

DrewKole 08-01-2004 09:28 PM

Get open credit cards.

Gas Cards, Amex, etc.

Anything that requires you to pay off monthly is good... =)

You want something more than just an intro rate, or low starting rate... As, how long you've had the card, will bump up your credit rating.

And, if you're like me, any revolving debt, you transfer to the lowest card at the time, rinse repeat.

Magg 08-01-2004 09:56 PM

Any type of card which is better for my credit? Will build it faster?

I should probably ask my accountant, but ill do that tomorrow - what else you guys got for me tonight? :2 cents:

DrewKole 08-01-2004 10:20 PM

open 2-3 gas cards...

Those are generally considered convienence cards, and not debt driven.

They will help you as much as any other card.... and if you dont need them for debt.... no point in getting a real credit card.

Magg 08-01-2004 10:25 PM

wtf is a gas card? I have a pretty good idea what its used for...

Where can I get one?

Im looking at AMEX Blue right now

toddler 08-01-2004 10:55 PM

Quote:

Originally posted by Magg
wtf is a gas card? I have a pretty good idea what its used for...

Where can I get one?

Im looking at AMEX Blue right now

wsa thinking of getting one of those myself, though my credit is not perfect (over 700, but thats job, not credit per se)


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