What's your favorite credit card?

[disneysteve]

boy the credit cards have brain washed every one "look at how financially responsible i am i can use a credit card" I think using credit cards is just no big deal and proves nothing
if you have not noticed they issue them to everyone, not a exclusive club by any means

The news (and this site) is filled with stories of people who couldn't handle their credit cards, using them to buy thousands of dollars of things that they couldn't afford and now struggling to make the payments. Sure, anyone with a pulse can get one, but that doesn't mean they should or that they know how to use it properly.

I've made thousands of dollars off of my cards over the years by beating them at their own game. I've never paid a penny in interest or fees and I've collected tons of rewards. If that makes me brainwashed, so be it.

[boosami]

boy the credit cards have brain washed every one "look at how financially responsible i am i can use a credit card" I think using credit cards is just no big deal and proves nothing
if you have not noticed they issue them to everyone, not a exclusive club by any means

use it get a few points get some cash back


but to answer the question I have no favorite

You're right... Simply having or using a credit card does not make you a financial grown up. There's a difference between using credit and using credit responsibly. Maybe this thread should be renamed "What's your favorite credit card to use responsibly?"

[simpleyme]

LOL
I still think the use of credit cards does not mean you are winning financially

but what would I know

[GREENBACK]

LOL
I still think the use of credit cards does not mean you are winning financially

but what would I know

I do think that those who are in a position where they can use a credit card responsibly are in the financial winner category. If you use your card(s) and pay them off and never incur fees and get rewards; guess what?....... You're winning.

I know the cc companies get a kickback from the retailers that is bigger than the rewards they offer but that's how the buisness works.

[disneysteve]

I do think that those who are in a position where they can use a credit card responsibly are in the financial winner category. If you use your card(s) and pay them off and never incur fees and get rewards; guess what?....... You're winning.

I could use my CC to buy a bunch of crap I don't need and pay it off every month which obviously wouldn't be a good idea, so just the fact that I pay my bill in full doesn't mean my big financial picture is in order. If I'm not saving adequately because I'm shopping all the time, I'm not being responsible with my money, credit card or not.

[GREENBACK]

I agree and I use my cards as if they were dollars in my wallet. I used to but only with cash and now buy mostly with credit. I know from tracking my spending that it's virtually the same for me.

[simpleyme]

I do think that those who are in a position where they can use a credit card responsibly are in the financial winner category. If you use your card(s) and pay them off and never incur fees and get rewards; guess what?....... You're winning.

at that game maybe. i see it is the same skill as paying your utilities on time

,but it tells nothing of your overall picture does it?
I see people who "pay off " their card every month but finance their cars

have helocs, untold "smart " loans but by goodness they have no credit card debt

[GREENBACK]

I don't mean to imply in any way that using a credit card demonstrates overall control of your financial life. They are merely a financial tool. Other than mortgage related debt, I have no other financial obligations and I'm saying that they can be used intelligently to the benefit of the user.

If a person has other financial debt but assumes they're ok because they pay their cc bill every month then they need to examine their overall financial picture a little closer.

[LivingAlmostLarge]

Citibank simplicity. 5% on gas, drug stores, groceries, and no escalating minimum like am ex.

Am ex costco - for costco use only

Discover - 5% rebates, once quarter it was school and tuition was allowed. I scored 5% back on my DH's tuition, ridiculous! Paid in full no less.

I love my credit cards. Just like I love my ARM. No one holds a gun to my head and tells me to use either but I do.

[GREENBACK]

Citibank simplicity. 5% on gas, drug stores, groceries, and no escalating minimum like am ex.

Am ex costco - for costco use only

Discover - 5% rebates, once quarter it was school and tuition was allowed. I scored 5% back on my DH's tuition, ridiculous! Paid in full no less.

I love my credit cards. Just like I love my ARM. No one holds a gun to my head and tells me to use either but I do.

LAL, you're a great example of what i'm saying here.

[disneysteve]

Discover - 5% rebates, once quarter it was school and tuition was allowed. I scored 5% back on my DH's tuition, ridiculous!

My only complaint about their 5% deals is the low cap they put on them. Last quarter it was gas and groceries, but a $400 cap. Well, it doesn't take long to rack up $400 in charges in those categories. By December, without realizing it, I had hit the cap so I made a bunch of charges that I didn't get the 5% for.

Surely, your son's tuition was more than the cap.

[kork13]

My only complaint about their 5% deals is the low cap they put on them. Last quarter it was gas and groceries, but a $400 cap. Well, it doesn't take long to rack up $400 in charges in those categories. By December, without realizing it, I had hit the cap so I made a bunch of charges that I didn't get the 5% for.

Surely, your son's tuition was more than the cap.

This is one of the driving factors which (as I referenced previously) is leading me to move to PenFed's CC over my Discover card. PenFed's rewards aren't capped, so I like that alot, since I frequently have gone over Discover's reward cap. I may keep the Discover card (switching it to the quarterly 'special' card from the gas/automotive card it is now), but don't expect I'll use it too frequently unless the running special happens to match up with a need at the time....

[LivingAlmostLarge]

This was 2 years ago before the cap DisneySteve! They capped after that Fall 2006 quarter the cap was implemented. But boy it sure was nice looking at my 5% back on $10k in tuition alone.

And it was for my dear husband, I have no kids.

[kork13]

This was 2 years ago before the cap DisneySteve! They capped after that Fall 2006 quarter the cap was implemented. But boy it sure was nice looking at my 5% back on $10k in tuition alone.

WOW!!!! That's awesome! ......so..... should we be blaming you for the cap being imposed? Cut into their profits a bit too much, did you?

[disneysteve]

should we be blaming you for the cap being imposed? Cut into their profits a bit too much, did you?

Funny. Actually, I've always suspected that my BIL and I were responsible for Discover changing another policy. They used to have a cap on the fee for using a convenience check, so the fee could be 3% if the amount was relatively small but it could be a tiny fraction of 1% if the amount was large. By BIL and I used to write convenience checks for nearly our whole credit limit on the first day of the billing cycle, pay a small fee, deposit the checks in our money markets, then earn a couple hundred dollars interest before we had to repay it. Then we'd repeat the process. Eventually, they caught on and removed the cap on the fee, making it a straight percentage regardless of the amount.