What's the best credit card?

cpals

Diamond Member
Mar 5, 2001
4,494
0
76
Inspired by Rossman's thread.

What card is the best?
Why is it the best?

I currently have a Capital One card with a $4000 limit. Just wondering what other options are out there and what would make me want to switch. I pay my bill off every month. Also, I don't want any annual fee cards.
 

N8Magic

Lifer
Dec 12, 2000
11,624
1
81
I enjoy the perks that my American Express Platinum Card offers me.

They don't play games, unlike some of the more unscrupulous CC companies out there.
 

DannyBoy

Diamond Member
Nov 27, 2002
8,820
2
81
www.danj.me
Capital one are crap, they treated me like crap, they were totally crap, i hate them hate them hate them with a passion.

 

psianime

Golden Member
Mar 16, 2002
1,497
1
0
I like Citibank because they have a virtual card number generator for online purchases.
 

Aharami

Lifer
Aug 31, 2001
21,205
165
106
Originally posted by: psianime
I like Citibank because they have a virtual card number generator for online purchases.

so does AMEX. i happen to like AMEX the best. get amex blue cash. upto 5% cash back
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
MBNA
Capital one are crap, they treated me like crap, they were totally crap, i hate them hate them hate them with a passion.
My experiences were not dissimilar. Capital One rotts.
 

InverseOfNeo

Diamond Member
Nov 17, 2000
3,719
0
0
IMO, it depends on your needs. For instance, if you travel a lot then a card that gives you miles would be best. Or if you are going to use the card mostly online then perhaps a card that has a virtual card # generator like psianime said.
 

CChaos

Golden Member
Mar 4, 2003
1,586
0
0
I think there's a Chase card where the interest rate is prime. I think that's a great deal. I have a Driver's Edge from Citibank as does my wife. We got $400 back when we bought a new car recently and I have ~$500 in rebates on my card. These can also be used for service, provided you charge that service with the card. Personally, I'd have to go with the best rate you can find. Rewards that inspire you to charge things you were normally pay for outright don't inspire me.
 

bcterps

Platinum Member
Aug 31, 2000
2,795
0
76
There is no perfect card, it all depends on what you use a credit card for. If you pay off your balance every month, then you want something with great cash back or other perk. If you keep a balance, then your interest rate is much more important.

I pay mine off every month, so I could care less what the interest rate is.
 

lokiju

Lifer
May 29, 2003
18,526
5
0
Originally posted by: DannyBoy
Capital one are crap, they treated me like crap, they were totally crap, i hate them hate them hate them with a passion.

I will 2nd that 100% Capital One sucks the big one! I had them for about 5 years, they never wanted to up my limit or lower my interest rate for anything worth wild. I have since switched to Fleet and couldn't be happier, they always offer me lower rates and perks on a regular basis and continue to raise my credit limit about ever 3 or 4 months. I am now a platinum card holder with $9,000 limit and 12% interest which I know isn't the best interest but compared to what my Capital One was, is great!
 

VictorLazlo

Senior member
Jul 23, 2003
996
0
0
I had a bad experience with capitalone.

Note: human beings who process payments are not in the office during holidays.
However, Computers that process late fees never take any time off!
 

cpals

Diamond Member
Mar 5, 2001
4,494
0
76
Originally posted by: benchiu
There is no perfect card, it all depends on what you use a credit card for. If you pay off your balance every month, then you want something with great cash back or other perk. If you keep a balance, then your interest rate is much more important.

I pay mine off every month, so I could care less what the interest rate is.

I pay mine off every month too, what would be a good card to get? With no annual fee to have...
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Yeah capital one caters to people with bad credit and deadbeats, so unfortunately people who have good credit and are not a deadbeat will find that being treated as such makes them feel bad and upset. There may be some non deadbeats with good credit happy with capital one, but I bet they don't make up the majority of CO users
 

cpals

Diamond Member
Mar 5, 2001
4,494
0
76
Are all cards, visa, mastercard, amex, etc... equally usable at most stores? Are there any places that only accept VISA for example?
 

cpals

Diamond Member
Mar 5, 2001
4,494
0
76
Are you talking about the 'Starwood Preferred Guest' card? Do they have one time use cc's also?
 

RossMAN

Grand Nagus
Feb 24, 2000
78,817
323
136
Originally posted by: cpals
Are all cards, visa, mastercard, amex, etc... equally usable at most stores? Are there any places that only accept VISA for example?

If you have a VISA/MasterCard or Amex you're covered by about 99% of all physical, mail and online stores.

The other 1% use funky Discover, Diners Card, etc.

I believe all Amex cc's (including the Starwood) offer 1 time use cc's, can someone please confirm-ify this fact for me?
 

Jeff7181

Lifer
Aug 21, 2002
18,368
11
81
I use to say Bank One sucks... cause of the huge hassle I went through with an annual fee that they told me not to pay and that they'd remove it from my account. Well I ended up paying double, cause of late fees since they told me not to pay. I finally just paid it so they didn't keep reporting that I didn't pay on my credit report... then I wrote a nasty letter and they sent me a check for the full amount. So they did correct the situation, but I definately didn't appreciate being lied to 5 or 6 times over the phone.
 

dullard

Elite Member
May 21, 2001
25,479
3,976
126
Basically many of them are the same. So you have to look at the very fine details (which change continuously, making it impossible to have a "best credit card"). If you pay it off every month, as you should, then a lot of things that most cards advertise are unimportant (interest rates, initial rates, balance transfer rates, etc). So what is important?
1) Will you be able to use the card where you want? Visa and Master Card were developed by the same banks, with the same purpose in mind - ie they are essentially identical. They created two to have the illusion of competition. If a store takes one, they will always take the other. Most stores will take American Express. About 75% of places take Discover. Other cards then drop down to near zero levels (ie often only one store or one gas station will take it - at least without any excess fees). One exception, in Europe many places don't realize that Visa and Master Card are the same - and they don't think they can accept Visa. Master Card is really the only way to go if you plan to travel abroad.
2) Are there any hidden excess fees or other things you will likely run across. Since there are so many good cards, never consider one that has fees you are likely to have to pay.
3) What is the card with the best reward system for you. 1% back is a good amount - but you can do a bit better. Many cards offer a bit more at specialized stores (gas stations, groceries) etc. But read the fine print carefully. I've seen CC offers that said 5% back on everything with one of two restrictions (a) you carry a balance paying 15% and then you get 5% back - net loss of 10% to you, or (b) you buy an expensive item from the CC company - such as a requirement to buy a new car within 12 months to actually obtain your 5% back (which obviously most people aren't going to do). Instead of cash, some places give airline miles - this may benefit you or you may have no need to fly and those will all go down the drain when they expire (as many do).
4) This is getting quite picky but does the CC company support things you support - or does it support things you hate. MBNA for example was the biggest single contributer to George Bush in his presidential bid. If you are a republican, that probably makes you want to support MBNA - but what if you are a democrat?
 

bcterps

Platinum Member
Aug 31, 2000
2,795
0
76
Originally posted by: RossMAN
Originally posted by: cpals Are all cards, visa, mastercard, amex, etc... equally usable at most stores? Are there any places that only accept VISA for example?
If you have a VISA/MasterCard or Amex you're covered by about 99% of all physical, mail and online stores. The other 1% use funky Discover, Diners Card, etc. I believe all Amex cc's (including the Starwood) offer 1 time use cc's, can someone please confirm-ify this fact for me?

If you have an AMEX, it is important to also have a VISA/MC, since some places still do not accept AMEX. Right now I have the REI Gold VISA, the AMEX Costco card, and a Chase Cashbuilder MC. I dont use the MC at all, I only use the VISA and AMEX, mostly just the AMEX. I have a MC just in case there are some MC only offers online (Amazon had one earlier this year).

I'm considering putting about 10,000 on my VISA and 5,000 on my AMEX when I buy my car, just to get the rebates.
 

misle

Diamond Member
Nov 30, 2000
3,371
0
76
My two favorite cards are:
Juniper Mastercard: 5.9% interest, $12k limit (I'm a college student and I don't earn a whole lot more than this per year.)
Bank of America Visa: 5.9% interest, $8k limit (plus they just gave me 6 month interest free on balance transfers, I've been with them for 5 years)
Lately, I've been using my BankOne Visa because they gave me 1 Year interest free.
I also have a AMEX Blue (at 11.9%), which I like, but if I have to carry a balance, I use one of my other cards.
 
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