Credit Cards

[pute62]

What's in your wallet?

l
Dust bunnies, Plus the Speedway card with 28k points. I’m Tornado rich!!! Lol

 

[Libertarian01]

How soon will you be reimbursed? Will it be within two (2) weeks? If so, then the interest rate won't be a problem. However, I would search for one that has an extremely low interest rate regardless of use. That is just on principle.

Dave Ramsey is spot on when attacking debt!His philosophy of staying out of debt is extremely wise, especially given the difficulty of getting out of it if something unforeseen happens. But I don't think his repugnance to debt applies in this case as you'll be reimbursed.

I also agree that you should go with Visa or MC. They are universal, unlike AMEX or Discover. When I went to Europe I couldn't use my Discover card anywhere.

Here is a list of low interest rate credit cards: https://www.creditkarma.com/creditcards/explore/i/low-interest-rate-credit-cards/

At the right of the page also lists breakdowns for "best" rewards programs, students, etc.

Good luck,

Doug

 

[Snapdragon]

If you are truly using a credit card wisely, interest rate should be irrelevant.

 

[femurphy77]

l
Dust bunnies, Plus the Speedway card with 28k points. I’m Tornado rich!!! Lol

A buddy of mine sang the same tune until one day. . . . . . . . . They never used that Porta potty again.

 

[Reagan40]

My job requires a lot of travel. I prefer to stay in Marriott hotels. Due to this, I got the Marriott Visa that I use only for work travel expenses. I reach Platinum with Marriott due to the nights I stay, then the use of the card gives me ALOT of Marriott points. I earn enough points to completely cover a week of hotel stay for a famile vacation every year. Some people do the same with airline miles and a card from their preferred airline. If leisure travel interests you, think about this as an option.

 

[Expat]

We currently have Discover and some Chase card. Both have been okay. Never felt like they were screwing us. The one we had before, had some Indian phone bank for customer service. That was a farce.

 

[Ranger Rick]

USAA

 

[jd4320t]

Serious question, if it is needed for work why isn't it provided? I've never been in that type of situation and have always wondered why it happens. The few times I've needed a credit card for work it was a company card.

 

[CHCRandy]

I have 2 that are useful. Wells Fargo has a card that if you pay your cell phone bill using it, then just pay them monthly instead of the cell company......you get free phone insurance. This saves a lot of people 5-10 a month per phone.

Another is TDAmeritrade card. You have to have an account with TDA. They give you 1.5% cash back and a 10% bonus if you have it deposited to your TD trading account.

 

[Expat]

Serious question, if it is needed for work why isn't it provided? I've never been in that type of situation and have always wondered why it happens. The few times I've needed a credit card for work it was a company card.

We went to company credit cards a few years ago, but before that, we submitted a monthly expense report, attaching our receipts and we got paid back for the expenses. So most of us had a credit card we only used for company business.

 

[rhino]

If you are truly using a credit card wisely, interest rate should be irrelevant.

100% correct.

Use credit cards for convenience and security, then pay the balance at the end of the month.

Never spend money you do not already have!

 

[A 7.62 Exodus]

Serious question, if it is needed for work why isn't it provided? I've never been in that type of situation and have always wondered why it happens. The few times I've needed a credit card for work it was a company card.

Great question! I work for the .gov down here, and could be given a .gov card at my request. The downsides to it are that if I accidentally ever use it instead of my debit card, I could get in a lot of trouble. Another bad thing about it is that if I get the bill before getting reimbursed for my travel, I have to pay it all back at once. I can't make payments on it like a normal credit card. So I figured it would just be a whole lot easier and stress free to get my own card

 

[rhino]

Great question! I work for the .gov down here, and could be given a .gov card at my request. The downsides to it are that if I accidentally ever use it instead of my debit card, I could get in a lot of trouble. Another bad thing about it is that if I get the bill before getting reimbursed for my travel, I have to pay it all back at once. I can't make payments on it like a normal credit card. So I figured it would just be a whole lot easier and stress free to get my own card

My former employer issued a corporate AMEX card to me. My current employer (our part of the business was sold to them) requires peons at my level to pay expenses out of pocket, submit an expense report, and wait for subsequent reimbursement.

When I worked for the Federal gov't (1989-1991), it was a weird situation in between the two. We were issued Diners' Club cards, but the bills went directly to us. We had to submit an expense report and receipts and await reimbursement by paper check. If the bill became due before we received the reimbursement, we had to pay out of pocket. It had the suck of both worlds. Plus it was the Federal gov't, so I was evil.

 

[Hkindiana]

100% correct.

Use credit cards for convenience and security, then pay the balance at the end of the month.

Never spend money you do not already have!

Do you have a home loan?

 

[Route 45]

Never spend money you do not already have!

A person with a strong income and an excellent credit score can use credit wisely to enjoy a nice home and a nice car without undue burden. You're advice is more applicable to high interest credit cards and unnecessary purchases.

 

[MCgrease08]

Serious question, if it is needed for work why isn't it provided? I've never been in that type of situation and have always wondered why it happens. The few times I've needed a credit card for work it was a company card.

My company is this way too, where we are expected to use a personal card and then submit expense reports. Fortunately I have good credit, but I could see this being a bigger issue for an employee that doesn't.

The pro is that any and all rewards earned are mine. The company isn't taking the cash back or the travel points.

Downside is that all the required paper work is on me to complete. That means being extra cognizant of securing receipts, also I don't get reimbursed unless I get off my ass and submit them.

It's also for more flexibility on what I can charge. With a corporate card at my last job, I wasn't able to use it for any personal charges. Because the current card is in my name, I can add utility bills and other personal expenses as appropriate to earn more travel points I can use for family vacations.

 

[Vigilant]

My company is this way too, where we are expected to use a personal card and then submit expense reports. Fortunately I have good credit, but I could see this being a bigger issue for an employee that doesn't.

The pro is that any and all rewards earned are mine. The company isn't taking the cash back or the travel points.

Downside is that all the required paper work is on me to complete. That means being extra cognizant of securing receipts, also I don't get reimbursed unless I get off my ass and submit them.

It's also for more flexibility on what I can charge. With a corporate card at my last job, I wasn't able to use it for any personal charges. Because the current card is in my name, I can add utility bills and other personal expenses as appropriate to earn more travel points I can use for family vacations.

And that is the proper way to use cards, make them work for you. I’ve been around the world on points, paid for a destination wedding on the card, and earned enough other points that from 2014 til just this year, I haven’t paid money for a hotel room, just cashing in points. I’m out of points now, so need to get back into charging all my biz expenses to the card for the points or cash back. As an aside, I have a Costco Cash back membership, and, now that they take Visa instead of AMEX, I charge all purchases to my Visa, and get points or cash back depending on the card, AND cash back from Costco every year!

 

[Libertarian01]

My credit score is good now, not great, but good.

A few years ago involved in an auto accident that caused a broken bone in my hand. I was doing OK with credit card payments (yes, I was stupid) but being off of work for about a year on just disability threw me behind on EVERYTHING! My credit score tanked.

Once the lawsuit was over I paid off a LOT and made good payments on the rest, vowing to never get behind that problem again.

Fast forward several years and I'm shot in the hand. Again, off of work for many monthes. This time, almost no debt, in the beginning. However, I did have to use credit just to pay bills and eat. Today, I'm doing much better and paying things down pretty good. It isn't nearly as hard a slog, but it isn't easy. I am snowballing what is left. Health care is expensive!

Credit cards can be like guns. Pull them at the right time when necessary, but otherwise keep it in the holster.

Regards,

Doug

 

[BehindBlueI's]

I use an Amazon card from Chase bank as my primary CC. Cash back on everything, extra cashback on Amazon purchases. No annual fee. I have no idea what the APR is, I pay it off every paycheck.

 

[JettaKnight]

Serious question, if it is needed for work why isn't it provided? I've never been in that type of situation and have always wondered why it happens. The few times I've needed a credit card for work it was a company card.

Without a company card I need to keep receipts and request reimbursement. With a company card I need to keep receipts and fill out a report.


At least with my own card I can get (meager) benefits.