#1 Posted by DJJoeJoe (1335 posts) -

Never had a credit card before, thanks to student loans fucking my credit score before I was even 18. Now that I'm over those things and my chances of getting a card are slightly higher than 0% I'm wondering what cards would best suite me and my situation. I know there are various cards that offer cash back and higher values based on categories of purchases such as groceries or what have you, are there cards out there that you guys prefer for redeeming video game stuffs.

I was looking at the Amazon.ca CC thinking this might be a good start since at worst it gives credit for the site which can translate to credit for games purchases (either physical... yuk... or digital through buying those xbox/ps store gift cards). Are there any cards better suited to a games purchasing lifestyle, or should I just focus on the ones that would best build credit, frankly though it seems there is little difference in any of the cards I've seen. Sometimes they charge an annual fee and reduce the interest, or the reverse is true... neither seem like they are better than the other really (since in an ideal world the interest rate shouldn't be hit if you are using the card properly, and the $20 annual fee is so small that who gives a fuck right?). Is it just down to the rewards then?

Brad had mentioned many times in the past that he had accrued many Sony store points, I think it was through a CC, are there none amazon cards out there that can translate to great video game based rewards?

Cheers.

#2 Posted by Fobwashed (2239 posts) -

Besides all that other optional stuff, just be sure you always pay off your balance at the end of the month. Don't spend more than you have duder =P Those interest rates are sick.

#3 Posted by ViciousBearMauling (1253 posts) -

As long as you don't treat the CC like magic imaginary money, you'll be fine.

Pay off those balances!

#4 Edited by DarthOrange (3906 posts) -

I have the Amazon card and it builds up a lot of points but only if you are buying stuff on Amazon. For digital stuff on consoles you are going to be building up points significantly slower. I believe the one Brad mentioned was the PlayStation card. Get whichever card has the bonuses that would benefit you the most. And, as other duders have said, don't spend more than you can pay because the interest on them is going to be horrible, especially if you have no credit.

#6 Edited by Corvak (1173 posts) -

Since you mentioned Amazon.ca, check out your bank's partnership for debit cards.

TD gave me a visa debit card that lets me use it like a CC online.

#7 Posted by selbie (1969 posts) -

I'm going to be the killjoy here and say zero cards. Don't fall for it. If you need the ability to pay for stuff online via CC then use a visa or mastercard debit card that draws from your savings only.

If you cannot earn the money to pay for something, then don't pay for it. If you can, then why risk making purchases that could potentially lead you to paying more than what you purchased via interest?

#8 Posted by penfold01 (21 posts) -

Don't listen to the people telling you to just use a debit card. They don't do crap for your credit score and if your card gets stolen it's more of a hassle to get your money back. I would avoid getting anything that gives company specific rewards like the Sony card or the Amazon one. Also avoid annual fees for your first card...cancelling a card has a negative effect on your credit score, so if you get one with an annual fee you may be stuck with that stupid fee for a while for not much benefit. Look for cards that give bonus points on stuff you already buy (American Express has one that gives 2x points for buying groceries and Discover gives 5% on a rotating list places that changes quarterly or you can get one that gives more points/cash back on gas since most people always need that).

Just treat the credit card like a debit card (i.e. never spend more money than you have in the bank) and you'll be fine.

#9 Posted by Kentobi (88 posts) -

Don't listen to the people telling you to just use a debit card. They don't do crap for your credit score and if your card gets stolen it's more of a hassle to get your money back. I would avoid getting anything that gives company specific rewards like the Sony card or the Amazon one. Also avoid annual fees for your first card...cancelling a card has a negative effect on your credit score, so if you get one with an annual fee you may be stuck with that stupid fee for a while for not much benefit. Look for cards that give bonus points on stuff you already buy (American Express has one that gives 2x points for buying groceries and Discover gives 5% on a rotating list places that changes quarterly or you can get one that gives more points/cash back on gas since most people always need that).

Just treat the credit card like a debit card (i.e. never spend more money than you have in the bank) and you'll be fine.


This. You need a credit card. Absolutely. Not having a card will mean you have no credit, which will impact everything from employment checks, renting an apartment, buying a car, house, etc. Debit cards, though they seem "safer", are not. They do not provide fraud protection, and they give a thief a direct line into your bank. They also do not build any credit at all. Get a no-fee card that aligns with your interests right now, set it up to pay off every month, and keep that for a few years. Once you have good credit and income, the credit card companies will fall over themselves to get you a better card.

#10 Edited by Zelyre (1275 posts) -

@selbie said:

I'm going to be the killjoy here and say zero cards. Don't fall for it. If you need the ability to pay for stuff online via CC then use a visa or mastercard debit card that draws from your savings only.

If you cannot earn the money to pay for something, then don't pay for it. If you can, then why risk making purchases that could potentially lead you to paying more than what you purchased via interest?

The man's gotta build a credit score somehow. Without credit cards, you may have a more difficult time securing a home/car loan that's not absurd. A credit card also has more protection against fraud than a debit card. If a company gets hacked and gets access to your debit number, your liquid assets are on the line. Sure, it'll get restored, but it does take time. Your credit card gets compromised, you still have access to your bank account.

The best use of a credit card is to use it like a debit card. Your credit line is simply a payment queue. You'll also never know when you'll need to drop a huge chunk of cash down. In one month, I had the breaker in my house fry. That was a thousand dollars. Then, my washer and dryer combo took a crap. That was 2500 dollars. The breaker was paid off in cash, but the washer and dryer? 0% financing for 30 months. I'm more than happy to simply send off a check for $150 every month and pay off the balance well in advance.

As long as you don't look at your credit card as money you have, it works for you. Doubly so, as credit available versus credit in use is part of your credit rating. I have three credit cards with a total available credit of 35k. I currently have a balance of $400 over all three cards, which I'll pay off in full before the payment date.

Unless you can plop down cash for a house, you want that credit score, and you want it to be good. The only apartments I lived in used credit score as one of their credentials as well.

And, if you're going to buy big ticket items, why not get stuff for free? I ended up getting a Banana Republic card, just because at one point in my life, I shopped there big time. I'm planning a Disney trip with my girlfriend this fall; I have the cash for it, but I'm putting it on that card because it's bonus points for travel month. I'll get enough points for a few hundred dollars of Banana Republic cards and I'll pay the balance off in full so I pay no interest.

The most important thing about a credit card is that your monthly statement should read, "Amount Due by X/X/X: $0".