Any recommendations for credit cards?

[Trigger Time]

Only one person can enslave you with debt. You. I've had credit cards since I was 18 (27 years ago). Credit cards are a tool, nothing more. You can hit yourself with a hammer, or build things with it.

I can build things with cash too and then they are really mine

 

[Trigger Time]

We have USAA for emergencies where jackwads won't take cash or debit.
For all the people worried about getting ripped off online with your debit card, chase offers a free solution called
the chase liquid card.

 

[HoughMade]

I can build things with cash too and then they are really mine

As opposed to.....

 

[mom45]

I prefer a credit card over a debit card because it gives me more protection in the event it gets hacked. If they get your debit card, your money can be drained from the bank pretty fast and take far longer to get it back....and leave you without a way to pay bills, etc. until it is corrected. Charges to a credit card are much easier to dispute.

I have a Capital One card that pays me cash back. I pay my balance in full so I have never paid interest on the bill, but they pay me for using it. It also doubles manufacturer warranties up to a certain period so I never buy extended warranties. Another nice feature is being notified when my card is used so if it gets hacked, I would know right away. I get a text every time I use my card for any $$$ amount. I use it for all of my monthly non-cash purchases (gas, groceries, online shopping, etc.) and write one check to pay for all of it so I earn more cash back and spend less money ordering new checks.

 

[Dirtebiker]

Reasoning?


I prefer a level of insulation from my purchasing and my actual money, given the level of fraud and such. And I've never carried a balance.



I've been happy with Discover Card for about twenty years. However, it's not the best if traveling oversees so I have a Visa card - NRA, actually, with the Bank of Omaha.

Main reason is it's too easy (ecspecially for young people) to get in the trap of using the card with the great intention of paying it in full within 25 days, letting one month go, "oh, I'll catch up next month, no biggie", then paying the minimum or less than in full, and being trapped for years!
I got credit when I was 18, didn't have the knowledge I should have had, and was on the credit merry go round for years. Finally got away from it and never felt better!

 

[Dirtebiker]

Exactly this. You have FAR more protection with a credit card than a debit. Just make payments as you go like once a week.

What protection do you have with a credit card that you don't have with debit? They're exactly the same!

 

[Dirtebiker]

I prefer a credit card over a debit card because it gives me more protection in the event it gets hacked. If they get your debit card, your money can be drained from the bank pretty fast and take far longer to get it back....and leave you without a way to pay bills, etc. until it is corrected. Charges to a credit card are much easier to dispute.

I have a Capital One card that pays me cash back. I pay my balance in full so I have never paid interest on the bill, but they pay me for using it. It also doubles manufacturer warranties up to a certain period so I never buy extended warranties. Another nice feature is being notified when my card is used so if it gets hacked, I would know right away. I get a text every time I use my card for any $$$ amount. I use it for all of my monthly non-cash purchases (gas, groceries, online shopping, etc.) and write one check to pay for all of it so I earn more cash back and spend less money ordering new checks.

Besides cash back, my debit card has the exact same protection and warranty extensions.
I'm also notified when my card is used.

 

[Cameramonkey]

A debit card will do everything a credit card will. I bank with Chase and every issue I've had was resolved quickly.

[video=youtube;aoTZ5KEV33Q]https://www.youtube.com/watch?v=aoTZ5KEV33Q[/video]

He's smoking crack. There is no guarantee that a drained bank account due to a stolen DEBIT number will get YOUR money back in YOUR account quickly. Depending on the bank it can take up to a week or more to restore the funds. Good luck keeping checks from bouncing and incurring overdraft fees.

What would you rather deal with? A lessened credit limit due to a dispute because the Credit card number was stolen, or nothing in your checking account because your debit was stolen by hackers?

I only use CREDIT cards online. If my credit card gets hacked, no biggie. I get a new card and the available funds restored relatively quickly, with ABSOLUTELY ZERO effect on*MY* money. I will ALWAYS have 100% of my cash in the bank available to me.

If I were to get my debit hacked due to using it online at a site that is later compromised, *MY* cash disappears from *MY* checking account for several days and is unavailable to me. (generally speaking, your bank may have a different policy) In the event my credit card gets hacked, THEIR cash disappears, not mine.

Between my wife and I we have had 3 cards compromised. They had zero impact on us because it wasnt our money. The one time it nearly did, Amex overnighted a new card to me so I could have it for a business trip. (the only impact was the inability to use the cards while they minted a new one and shipped it to us)

Seriously, keep a credit card and use it for ALL online purchases and leave your debit in your wallet except for POS purchases. Pay it off every month and its no different than a debit.

/rant

As to the OP's request, I LOVE my Hilton Honors Amex. My company doesnt issue me a company card so I have to expense everything on my card. I am approaching 2 weeks worth of free stays if I use a Hampton Inn. 4-7 days if I stay at a higher end Hilton property. Its paid off every month so zero interest paid. In fact, due to my full week trip last week and poor planning on the site that required big purchases, I earned another day's stay for myself.

And if you catch them at the right time, you can get up to 100,000 points up front as a signing bonus, which is enough for 3-10 days free nights depending on the locations. (Hampton can be as low as 10k points per night.)

 

[Tanfodude]

Been using USbank flexperks for 15years now, just one card for everything. There might be better options out there but been happy with ours.

With being just one card, the annual fee is 0 using bonus points to cover it after reaching a threshold in a year.

We've travelled a lot within US free of airfare and they reimburse 1 luggage round trip.

Free Gogo wifi while flying

Discounts and one day free rental car

And many more......

http://www.flexperks.com/credit/welcome.do?redirect=directTraffic-www&lang=en&exp=

 

[foszoe]

Fidelity Investment if you have Fidelity accounts. 2% into retirement funds

 

[CountryBoy19]

A debit card will do everything a credit card will. I bank with Chase and every issue I've had was resolved quickly.

[video=youtube;aoTZ5KEV33Q]https://www.youtube.com/watch?v=aoTZ5KEV33Q[/video]

What debit card do you have that pays cash-back as well as extended warranties on the items you purchase with it?

FWIW I get up to 5% cashback...

Only one person can enslave you with debt. You. I've had credit cards since I was 18 (27 years ago). Credit cards are a tool, nothing more. You can hit yourself with a hammer, or build things with it.

This^^^

What protection do you have with a credit card that you don't have with debit? They're exactly the same!

No, they aren't the same. The consumer protection laws are different credit vs debit. You are far more protected with credit cards. Other differences include benefits offers, overdraft protections/denials, minute gains made by deferring the payment (kicking the can down the road), etc.

 

[jgressley2003]

I can build things with cash too and then they are really mine

If you pay off your balance it will be yours. I pay my credit card statement in full each month so everything I buy is mine.

 

[jd4320t]

He's smoking crack. There is no guarantee that a drained bank account due to a stolen DEBIT number will get YOUR money back in YOUR account quickly. Depending on the bank it can take up to a week or more to restore the funds. Good luck keeping checks from bouncing and incurring overdraft fees.

What would you rather deal with? A lessened credit limit due to a dispute because the Credit card number was stolen, or nothing in your checking account because your debit was stolen by hackers?

I only use CREDIT cards online. If my credit card gets hacked, no biggie. I get a new card and the available funds restored relatively quickly, with ABSOLUTELY ZERO effect on*MY* money. I will ALWAYS have 100% of my cash in the bank available to me.

If I were to get my debit hacked due to using it online at a site that is later compromised, *MY* cash disappears from *MY* checking account for several days and is unavailable to me. (generally speaking, your bank may have a different policy) In the event my credit card gets hacked, THEIR cash disappears, not mine.

Between my wife and I we have had 3 cards compromised. They had zero impact on us because it wasnt our money. The one time it nearly did, Amex overnighted a new card to me so I could have it for a business trip. (the only impact was the inability to use the cards while they minted a new one and shipped it to us)

Seriously, keep a credit card and use it for ALL online purchases and leave your debit in your wallet except for POS purchases. Pay it off every month and its no different than a debit.

/rant

As to the OP's request, I LOVE my Hilton Honors Amex. My company doesnt issue me a company card so I have to expense everything on my card. I am approaching 2 weeks worth of free stays if I use a Hampton Inn. 4-7 days if I stay at a higher end Hilton property. Its paid off every month so zero interest paid. In fact, due to my full week trip last week and poor planning on the site that required big purchases, I earned another day's stay for myself.

And if you catch them at the right time, you can get up to 100,000 points up front as a signing bonus, which is enough for 3-10 days free nights depending on the locations. (Hampton can be as low as 10k points per night.)

Dang, you sure seem to rant a lot these days...

I bank with Chase. My card/account has been hacked multiple times and it's never been an issue. All it takes is a call to Chase or trip to the local branch. The money was always immediately put back in the account and I never heard anymore about it.

If you bank with someone who doesn't provide a good service then it's time to change banks.

What debit card do you have that pays cash-back as well as extended warranties on the items you purchase with it?

FWIW I get up to 5% cashback...

This^^^

No, they aren't the same. The consumer protection laws are different credit vs debit. You are far more protected with credit cards. Other differences include benefits offers, overdraft protections/denials, minute gains made by deferring the payment (kicking the can down the road), etc.

I get it, you aren't a Dave Ramsey listener so you aren't familiar with what he says. Sure, many people can have credit cards and be fine. Just going by what I've seen you post on here I know you are one of them. The problem is most people can't be responsible with credit cards. Keeping a card for "emergency" use only often turns into non emergency purchases and a hole the person can't get out of.

As for cash back and whatever else...meh. Have you ever met anyone who's well off and said they made it all with cash back from their credit cards? Nope. In fact, if you put a dollar amount on what your time is worth and how much you actually get back it really isn't worth it.

Keep a card if you have all your ducks in a row, many people do but they aren't needed and I won't ever have one again.


Debit cards have the same fraud protection. This video explains it all well.

[video=youtube;1Qa1cHP6Pzo]https://www.youtube.com/watch?v=1Qa1cHP6Pzo[/video]

 

[Trigger Time]

If you pay off your balance it will be yours. I pay my credit card statement in full each month so everything I buy is mine.

I'm just meaning I think credit cards are the legal Loan sharks of today and they intend on people that do not pay their balance every month.

 

[KittySlayer]

I am am happy with my Chase Visa. I use mine only for gas, online purchases, hotels and flights. The rest of my life is paid for with cash.

Get a Visa or Master Card credit card and you will be good to go for daily life, travel and emergencies. Don't rely on Amex as many merchants won't take it because they get jacked over by fees.

No, they aren't the same. The consumer protection laws are different credit vs debit. You are far more protected with credit cards. Other differences include benefits offers, overdraft protections/denials, minute gains made by deferring the payment (kicking the can down the road), etc.

^^^^^^This^^^^^^

vvvvvvvv And This vvvvvvv

https://www.consumeraffairs.com/news/six-truths-about-credit-and-debit-cards-092415.html

Short article discusses fraud protection, merchant disputes, account holds (hotel/gas), etc...

Most banks go beyond what they are required to for Debit card protection but if you read the fine print they are not obligated to by their agreement with you or the by the law. The banks continue to build the illusion of confidence in our cashless society. The fraud protection is far superior with a Credit Card.

 

[jamil]

I use Cabela's Visa for most purchases. Never keep a balance. Using a credit card in that way, I pay for everything I buy. It's mine. Including all the ammo I get with the rewards points.

I can build things with cash too and then they are really mine

 

[BehindBlueI's]

There's a lot of projection going on in this thread. If you're not good with credit, don't apply for it. Easy. I pay my cards off each paycheck. I pay zero interest, I get cashback, I don't have to carry cash, when I travel it's cheaper than physically exchanging money, etc. etc.

Dave Ramsey is great for people who need a simple bright line rule, either due to lack of interest or due to self control issues. If you don't fit those two categories, there's nothing wrong with carrying debt for the right reasons.

 

[CountryBoy19]

I get it, you aren't a Dave Ramsey listener so you aren't familiar with what he says. Sure, many people can have credit cards and be fine. Just going by what I've seen you post on here I know you are one of them. The problem is most people can't be responsible with credit cards. Keeping a card for "emergency" use only often turns into non emergency purchases and a hole the person can't get out of.

I actually am somewhat familiar with Dave. He has a very specific target audience (those that cannot manage their finances well on their own). My peeve (pet-peeve?) is when people don't acknowledge that fact; they proclaim that everything he says is gospel (and to some people is should be) and that no other way is acceptable.

As for cash back and whatever else...meh. Have you ever met anyone who's well off and said they made it all with cash back from their credit cards? Nope. In fact, if you put a dollar amount on what your time is worth and how much you actually get back it really isn't worth it.

Depends how you use your card. I pay all gas, groceries, household expenses (internet, power, Netflix, etc), home/auto insurance, and well pretty much everything with my card. I pay the card out of a high-yield account that bears 1.05% interest. My monthly balance across all my cards typically runs about $2k/mo. I never carry the balance unless I have a zero-interest offer, it's paid every month. But, between the time that the bill I paid is due to the time the credit card bill comes due I've deferred that payment an average of over 30 days (we'll call it 30 to be conservative. So 12 times a year I've deferred $2k in payment for a month, earning 1.05% interest on that money for an extra month = $21. About 25% of that $2k is in a category that I get 5% cashback on everything else is 1%600. So for $24k in expenses per year I get back $480. I also get extended warranties for things I purchase with my Amex card. I would have to look at the agreement but I believe on some items the warranty can be as long as 7 years. I have used this warranty before for a refrigerator that came with a 1 year factory warranty and had the ice-maker fail after the 1 year.

Debit cards have the same fraud protection. This video explains it all well.

[video=youtube;1Qa1cHP6Pzo]https://www.youtube.com/watch?v=1Qa1cHP6Pzo[/video]

Debit cards MAY have the same protection, but they do not have the same protection LAWS. Your bank can choose to stop going above and beyond at any moment in time and it will leave you screwed out of YOUR money. The credit card company stops doing their job and you are protected by law, screwing them out of their own money.

 

[Vigilant]

Last time my debit card was hacked, it took 3 days to get back $1700. Many can't lose that much for that long without incurring major issues. Credit cards for me! Cash back rewards, and or points send me on vacations every year!

 

[mbills2223]

I can think of three reasons credit cards are a good thing...

1) Can be useful to build/maintain credit score
2) Rewards
3) Protection from going totally broke if compromised. Yes you'll probably get your money back if a debit is compromised...After you go a week or more with no money.

Bonus reason: it makes your money more "flexible" on a month to month basis if you use a credit card for all your ourchases

No offense to anyone who follows his methods but I think Ramsey is overrated