Any recommendations for credit cards?

[Dirtebiker]

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've got a Visa and a MasterCard! They are debit cards, but they are still Visa and MasterCard! Show me the difference!?
"Overdraft protection"? Really? You can't keep a running balance? "Deferring the payment "? Why?

 

[CountryBoy19]

I've got a Visa and a MasterCard! They are debit cards, but they are still Visa and MasterCard! Show me the difference!?
"Overdraft protection"? Really? You can't keep a running balance? "Deferring the payment "? Why?

The differences have been pointed out numerous times already in this thread. If you're unwilling to follow those links then just quit posting here. The OP asked specifically about credit card recommendations and got a bunch of people jumping down his throat about how debit cards are better than credit cards. He didn't ask which is better, he wants a credit card, he doesn't care. about which is better (he is likely financially responsible thus credit cards are better for him).

That being said, you show me which debit card offers 5% cash-back rewards and extended warranties on the items you purchase and I'll appease you and go to the links already posted in this thread, copy the text there, and paste it here so you can read for yourself how your Visa and MasterCard DEBIT CARDS are protected VERY DIFFERENTLY than Visa and MasterCard CREDIT CARDS

I can keep a running balance of the expenditures I make, my wife can sort of keep track, but I have no control over the expenditures made by identity thieves, thus it's possible to get hit with overdraft issues and be left with no money (as so many have already said in this thread). Furthermore, there are occasionally errors made in payroll etc, or paychecks don't hit the account when anticipate and life (overdrafts) happen. Not only do you over-draw your account, you typically get hit with hefty fees as well. I've NEVER had that problem with my credit card accounts. As I outlined in a response a bit further down, there is valid reason to deferring the payment if you're financially responsible enough to still pay it. So why not?

 

[HoughMade]

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.

I guess I'm taking advantage of them then. I get to use their money for a few days to a few weeks and they get no interest from me. Huzzah!

As for Dave Ramsey, I've got no issue with his advice, overall, but who is he hearing from all day? A lot of people who got themselves in credit card trouble, some of whom are out of trouble, many still in.

No, I wouldn't suggest an alcoholic try to become a social drinker. However, the fact that there are alcoholics does not mean that every social drinker is inevitably going to become a lush...which, on the credit card issue, seems to be his position.

It's impossible to shoot yourself accidentally if you never touch a gun or are anywhere near them. So......

 

[KittySlayer]

It's impossible to shoot yourself accidentally if you never touch a gun or are anywhere near them. So......

Well that there is just Common Sense.

 

[Leo]

Having lived in several states, I have had pretty good luck with a VISA card from where ever I am locally banking. My current credit union is no fee as long as you maintain a certain balance in your account. I also always pay the balance, so I don't really pay attention to interest rates.

I am always very careful of where i use my card. I avoid buying anything from people that are not an established business with a building and a land line. That does not guarantee against trouble. Even with these cations, I have been still had fraud against my card.

After having my card hacked several times with online purchases, I use a prepaid card for online. It is kind of a hassle and I end up paying 1% fee, but it is more convenient than having my primary card shut down. The prepaid cards claim to be fraud protected, but I have never needed to use that service. If it all went badly, the most the hackers could get would be $500., and I would have a level of insulation against continued hassles.

 

[JettaKnight]

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.

Dave Ramsey has an almost pathological fear of debt. While I agree with most of what he says and his general concepts, he fails to take into consideration TVM, opportunity costs, decision trees, etc. ... especially when considering school loans.

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.

It's foolish to think, "I'll make all my money from XXXX". The wise man has multiple sources of income (e.g. investments, CC rewards, Craigslist) and ways of reducing expenses (e.g. coupons, turning down the thermostat).

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.

I spend almost no extra time dealing wit my credit card - my balance is paid automatically and I don't spend any more time looking at purchases than I would with a debit card or check book. In fact, I really only have to worry about ensuring there's enough in my checking account at the end of the month. So, for me it's less time.


If you can't use a hammer without smashing your thumbs, don't pick up a hammer. However, don't tell me that hammers suck because some people walk around with smashed thumbs. The OP didn't ask if it's wise to own a hammer, he asked, "which one". Eastwing

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!

It seems you have mastered the hammer.


Things a CC provides for me over a debit card:
1. No overdraft, ever.
2. Rewards, small, but nice
3. Coverage for rental cars, etc.
4. Better fraud protection (not my money that was stolen)


YMMV.

ETA:
Generally around town, I pay cash.

 

[Vigilant]

To further expand, I run my household and business expenses on a credit card, that puts A LOT of points and cash back rewards in the "bank". Even when business has been slow, and I had to "carry a balance", the cash back reward just got a little smaller one month. Many of Ramsey's followers (not all) are followers because they screwed themselves up with debt, and they now drink the koolaid. Debt is a tool, much like your EDC, used properly it is only an advantage, used incorrectly...

 

[Jludo]

I like my visa amazon card for Amazon purchases 5%
Then my citi double cash card for everything else 2%

You can get better % in rotating categories or jumping some hoops but I like the flat, straight forward 2% on everything. They also give you the couple hundred dollars when you first sign up and spend X in the first few months.

I might try a hotel or airline someday but for now I never have the time or money to travel for pleasure so the points would be wasted.

I never use my debit card anymore, just no reason to risk it or not get the 2%

 

[Jludo]

Having lived in several states, I have had pretty good luck with a VISA card from where ever I am locally banking. My current credit union is no fee as long as you maintain a certain balance in your account. I also always pay the balance, so I don't really pay attention to interest rates.

I am always very careful of where i use my card. I avoid buying anything from people that are not an established business with a building and a land line. That does not guarantee against trouble. Even with these cations, I have been still had fraud against my card.

After having my card hacked several times with online purchases, I use a prepaid card for online. It is kind of a hassle and I end up paying 1% fee, but it is more convenient than having my primary card shut down. The prepaid cards claim to be fraud protected, but I have never needed to use that service. If it all went badly, the most the hackers could get would be $500., and I would have a level of insulation against continued hassles.

Was it a particular card company or particular store? Multiple card compromises seems like there might be more going on.

 

[jamil]

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.

That's a good point. Credit cards are okay when you are responsible with them. Not everyone who uses them are slaves to them. My dad never used credit earlier in life. Paid cash for his house, cars, etcetera as he had the money to pay for it. Later in life he needed credit for something, but he had zero history of paying off loans. He was quite proud that he paid cash for everything but couldn't understand why that didn't convince the bank that he'd pay them back.

 

[Alamo]

We use Citibank American Airlines card to buy everything from toothbrush to the Crown Vic to gather airline miles. Don't particularly like AA but that's what we started with years ago.

Pay off balance every month, no interest.

====>>> Citibank has been outstanding at dealing the fraud attempts. Outstanding.

We have had the card a long time (more than a decade), they ALWAYS detect fraudulent activity first, usually within a day or two, sometimes within an hour or two. They contact us immediately, overnight new cards to us, the only hassle has been calling all our autopays to update the number. Outstanding monitoring of our card. As contrasted to our Wells Fargo debit and credit cards, which we are going to dump soon. Not only does WF not notice several hundred dollars in weird charges, their overall service stinks.

 

[KittySlayer]

====>>> Citibank has been outstanding at dealing the fraud attempts. Outstanding.

We have had the card a long time (more than a decade), they ALWAYS detect fraudulent activity first, usually within a day or two, sometimes within an hour or two. They contact us immediately, overnight new cards to us, the only hassle has been calling all our autopays to update the number. Outstanding monitoring of our card. As contrasted to our Wells Fargo debit and credit cards, which we are going to dump soon. Not only does WF not notice several hundred dollars in weird charges, their overall service stinks.

Similar outstanding experience with our Chase/Visa cards. The geeks programming the heuristics are amazing. They even catch some unusual transactions I make that in hindsight looked really suspicious. One winter I was driving home from Kentucky to Ft. Wayne in an ice/snow storm. White knuckle driving for 300 miles at <40mph. Was stopping every couple hours to top off gas tank and load up on coffee, jerky and M&Ms. Visa saw a trail of frequent gas station charges and I had to go inside to see the attendant. He verified who I was and then I was good to go. They also caught some fraud on my wife's card and son's card and replaced immediately.

WF must be hiring pajama boys in mom's basement to write their heuristic programs.

 

[Trigger Time]

I guess I'm taking advantage of them then. I get to use their money for a few days to a few weeks and they get no interest from me. Huzzah!

As for Dave Ramsey, I've got no issue with his advice, overall, but who is he hearing from all day? A lot of people who got themselves in credit card trouble, some of whom are out of trouble, many still in.

No, I wouldn't suggest an alcoholic try to become a social drinker. However, the fact that there are alcoholics does not mean that every social drinker is inevitably going to become a lush...which, on the credit card issue, seems to be his position.

It's impossible to shoot yourself accidentally if you never touch a gun or are anywhere near them. So......

no your right. They can be a good tool for responsible people. I wouldn't abuse them either. My parents always warned against them when I was growing up (no they didn't have any financial issues either), so I guess it just stuck with me. I'm no financial advisor and people have to make their own choices based on themselves and their situations. I mean if you are getting cash back and rewards and paying them off fast then yeah you are beating the system and good for you!

 

[Cameramonkey]

Similar outstanding experience with our Chase/Visa cards. The geeks programming the heuristics are amazing. They even catch some unusual transactions I make that in hindsight looked really suspicious. One winter I was driving home from Kentucky to Ft. Wayne in an ice/snow storm. White knuckle driving for 300 miles at <40mph. Was stopping every couple hours to top off gas tank and load up on coffee, jerky and M&Ms. Visa saw a trail of frequent gas station charges and I had to go inside to see the attendant. He verified who I was and then I was good to go. They also caught some fraud on my wife's card and son's card and replaced immediately.

WF must be hiring pajama boys in mom's basement to write their heuristic programs.

Same here. I use Chase for my gas card. They flagged a single charge at a gas station at 38th and HS. Using my rather predictable patterns they somehow figured out it wasnt me and sent us an email alert. Crazy how they can detect these things.

 

[Trigger Time]

Same here. I use Chase for my gas card. They flagged a single charge at a gas station at 38th and HS. Using my rather predictable patterns they somehow figured out it wasnt me and sent us an email alert. Crazy how they can detect these things.

Aghhh profiling. Please say it ain't so. I hear liberal tears flowing. LOL

 

[Leo]

Was it a particular card company or particular store? Multiple card compromises seems like there might be more going on.

Target seemed to be the problem once. One of the places I attended college in 2009 had a server compromised in 2010. In 2016 I was hacked with a Visa from one Credit union. I switched credit unions (for a different reason) and in Dec or 2016 the new card was hacked. All I had charged in a couple weeks was from a chain store store that I routinely do business with and a local gas station. The Credit security people said it was probably hacked from an internet credit card server somewhere. Since internet orders do not use the chip interface, they seem to be more prone to hacking. I was told to avoid ordering from free wifi at hotels and restaurants, and have the motel desk clerk make the reservations.

 

[Jludo]

Target seemed to be the problem once. One of the places I attended college in 2009 had a server compromised in 2010. In 2016 I was hacked with a Visa from one Credit union. I switched credit unions (for a different reason) and in Dec or 2016 the new card was hacked. All I had charged in a couple weeks was from a chain store store that I routinely do business with and a local gas station. The Credit security people said it was probably hacked from an internet credit card server somewhere. Since internet orders do not use the chip interface, they seem to be more prone to hacking. I was told to avoid ordering from free wifi at hotels and restaurants, and have the motel desk clerk make the reservations.

To be fair to you though, who among us hasn't had their credit card double swiped at 6 a.m in a West Lafayette bar while dressed as 2/3 of the Beastie Boys?

I can still recall, vaguely, 4 a.m. retrofitting my ipod to a 1980's boombox...

 

[Leo]

To be fair to you though, who among us hasn't had their credit card double swiped at 6 a.m in a West Lafayette bar while dressed as 2/3 of the Beastie Boys?

I can still recall, vaguely, 4 a.m. retrofitting my ipod to a 1980's boombox...

I do still own a 1970's "Mega Bass" General Electric cassette boombox, maybe that's the problem.

 

[FWP9MM]

I have been through Dave Ramsey's FPU course twice. My wife took the course before we got married so it was free to attend the course again. While I agree on some things there are other things that are not always a one size fits all type approach. I personally prefer a credit card for online purchases as a way to reduce the hassle if my card gets compromised. My wife was not a fan of the credit card that I have until it was compromised 3 times in less than 6 months. She also doesn't mind the reward points.

 

[Ericpwp]

I had my credit card number stolen twice since November. I will never use a debt card for anything but an ATM withdrawal at my bank.

Cards have tightened up on rewards the last few years. There are some that will give you 2% back on everything. You can work the stable for all the categorical bonus rewards, but 2% seems to be the best all-around.

I like listening to Dave Ramsey help people, but free money is free money. I can look at my end of year CC statement and see $0 interest and $0 fees plus $$$$ in rewards... I'm good bro. It is a better return than my bank account, that's for sure.