Author Topic: What Credit Card should I get?  (Read 4961 times)

fnord

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What Credit Card should I get?
« on: April 24, 2013, 04:02:40 PM »
Before you have a seizure, note that I am not looking to take on any debt. What I want is a device to put an additional layer between online scammers and my bank account. We've had our debit card number skimmed from Wal Mart once, and just today, someone apparently made several purchases on our behalf in Taiwan. Our bank's fraud protection so far has been competent, but I get the feeling that sooner or later, one is going to slip by, nobody is perfect. I haven't had a CC in many years, and all I know is that the rules have changed in the recent past. Are there any good ones? Which ones are they? What are the common pitfalls? Thanks in advance.

I think it's fitting for me to ask this here since my introduction to MMM came from this article http://www.mrmoneymustache.com/2012/06/21/i-just-gave-up-4000-per-month-to-keep-my-freedom-of-speech/

matt_g

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Re: What Credit Card should I get?
« Reply #1 on: April 24, 2013, 05:01:11 PM »
Fidelity Rewards AmEx.  2% cash back all day on everything, no limit on the rewards, no fees.

Joel

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Re: What Credit Card should I get?
« Reply #2 on: April 24, 2013, 05:07:48 PM »
Since american express cards are not always accepted, I would also look into the Chase Freedom card that earns 5% on rotating categories and 1% on all other purchases. I use it for the rotating categories.

Additionally, I have an Amazon.com credit card that gets 3% at Amazon, 2% on restaurants, and 1% on everything else and an American Express Costco card that gets 3% on gasoline, 2% of restaurants and travel, and 1% on everything else.

The American Express costco card only redeems the rewards once annually, and it's a check that has to be cashed at costco (or used at costco), so I tend to avoid using this card unless I have to. I have to use it at costco for purchases unless I want to use cash or debit. The Amazon and Chase 5% cards allow me to redeem rewards monthly when the balance has exceeded $20.

I was not aware fo the Fidelity card, and do not have any investments at Fidelity. But it gives you 2% that is invested at fidelity in $50 increments. Sounds interesting, I will have to decide if its worth having a fidelity account or not.

grantmeaname

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Re: What Credit Card should I get?
« Reply #3 on: April 24, 2013, 05:32:47 PM »
How much do you spend annually? Do you shop at Costco?

fnord

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Re: What Credit Card should I get?
« Reply #4 on: April 24, 2013, 05:40:28 PM »
How much do you spend annually?

I'm embarrassed to admit that I don't know; but, we do a lot of shopping online.
Do you shop at Costco?
Yes. About every other month, we go and get a car load.

grantmeaname

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Re: What Credit Card should I get?
« Reply #5 on: April 24, 2013, 06:59:36 PM »
Then you probably want an American Express. Costco only takes Amex and debit, and they're a large portion of our spending as well. The Amex blue cash everyday could be a good fit.

Reepekg

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Re: What Credit Card should I get?
« Reply #6 on: April 24, 2013, 07:03:58 PM »
I like bank of america cash rewards. I guess the rewards aren't as good as some others...3% gas, 2% groceries, 1% everything.
10% bonus to redeem into a BoA checking account.

Everybody raves about mint, and I like the idea, but I prefer BoA's My Portfolio. It is the same product except it is your bank keeping the passwords/info.

matt_g

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Re: What Credit Card should I get?
« Reply #7 on: April 25, 2013, 07:50:45 AM »
I just opened a fidelity account and then just use the free bank xfer to move the money without investing it.

superheropunk

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Re: What Credit Card should I get?
« Reply #8 on: April 25, 2013, 09:35:12 AM »
As long as you pay off monthly and don't spend more than you normally would which sounds like you are planning to do...

The Chase Freedom rewards card use to be really great before the modified Reward system... However, I still use that one for my monthly expenses (Insurance, Phone, Utility, etc) and you can redeem reward points for cash if you prefer.

Would get a "reward" type card that lets has the type of rewards you value....

I had AmEx in the past but wasn't that impressed.