What type of credit cards

[hanson65]

What type of credit cards do you all have or use that get you the most return on you money if paid in full every month looking at getting a new card have mine all paid off and also looking at buying a house soon that needs work. Do any of you use a home depot or lowes cards and get free stuff in return of cash back rewards!

Thanks shane!

[Admin]

Home Depot & Lowes cards are good for convenience but they don't offer rewards to my knowledge. Sometimes thee convenience of having a year to pay for something with no interest can outweigh the rewards offered by other cards. Just about every penny I spend is with rewards cards but I am forced to pay the entire balance in full every month or take a beating. This works out fine for my normal expenditures because that amount is being spent anyway, and putting it all on a card has many benefits. It earns me money in rewards, allows me to write one check per month rather than 15. I use one stamp per month instead of 15, I keep better records for tax time and I don't worry about payments not reaching their destination due to checks lost in the mail.Also this form of bill paying gives you a high ranking credit score.

The home depot card is great, no reward earnings but will allow you to build something now and have 12 months to pay for it. I use them all the time but usually only on a major purchase and wait for the 10% coupon to come in the mail, make the big purchase and take advantage of the 12 month payment plan. Even though theres minimal payment required I make decent payments so I don't take a beating 12 months later. These 0% payment plans are great but YOU MUST pay them off before the due date or they'll be socking you with 12 months of accrued interest. Best pay it off a good month early.

Last summer I wanted to build a cabin, so I did. Instead of dragging out the project I bought 5 grand worth of materials on my Home depot card and took advantage of the 12 month 0% deal. I still have till June to pay it off but only owe around 400 bucks on it now and not a dime of interest.

If I paid for it with the rewards card I would have earned 50 bucks in rewards but would have had to pay it off at the end of the month. In this case it made more sense to go the 12 months.

I've had just about every card out there. Some earn up to 5% but there's usually too many restrictions and BS. The safest card I've ever found is the Cabelas card. They're straight up great folks to bank with. No hidden fees, no bait & switch BS, just great service. If a purchase is made that looks fishy to them they contact you right away. Their card earns 1% on general purchases and 3% on cabelas purchases. A penny on a dollar don't sound like much but it adds up a lot faster than you'd imagine. This is free stuff for paying your normal bills. I just paid my homeowners insurance and earned 6 bucks. Not long ago I bought a bunch of stuff from Cabelas and paid nothing cause I used my points. I already have over 170 bucks worth of free shopping points to spend. Yesterday I ordered 2800.00 worth of spices for my business and earned 28 bucks on that. Paying by check earns nothing.

Capitol One had a decent (No Hassle) rewards card that earns you 1% on everything and no annual fee.

I don't care for Citibank or Discover cards.

Personally I'd go for the Cabelas card.

[TRAPnHUNT]

I own one credit card and that's for emergency purposes only. If I dont have the cash on hand to buy things, I wait until I do!

[snydboshawn]

Hey JC what is your take on Lowes tax return card which pays 10% after the 13 of this month for a purchase of 500 to 4000? I been thinking of getting one on the 12th for the one time extra 10%. Not really a traditional card but....?

[watershedman25]

I've got so many it hurts to sit down. WE DON'T OWE ANYTHING ON ANY CARD!!!! Always pay in full when recieved. We use our bank debit card for most things till it gets to the big ticket items, then we break out Discover, I don't like the way they do buisness but I can whip it out and get instant service for plane tickets or whatever. I get to use thier $ for a month till I decide how I want to handle it. When our daughter and son-n-law go to Africa they use our card, it builds points pretty fast when your ticket is $4500 !! If we use something like "Peebles" for cloths we can put it on the card and pay it off before we even leave the store and save 15%. They can be a great tool and save you money if you don't abuse it. We have them all just in case, if you make a purchase once in a while and pay it off when you get it, it will build your credit (along w/other good practices) our credit score is over 850, not bragging but it is nice to be able to get whatever you want, that said, we don't get whatever we want because we couldn't afford all of it. As long as you can manage it the right way they are great.

[trapperandhunter]

you guys pretty much summed it up!

[Admin]

Mar 8, 2011 23:49:05 GMT -5 snydboshawn said:

Hey JC what is your take on Lowes tax return card which pays 10% after the 13 of this month for a purchase of 500 to 4000? I been thinking of getting one on the 12th for the one time extra 10%. Not really a traditional card but....?

Never heard of it since I haven't been to Lowes in a while. Doesn't sound like a bad deal from what you mentioned.

Watershedman,
Nice to hear there are others taking advantage of the free money that's available. Personally, I'm pretty old fashioned and would prefer to pay cash for everything, but it just doesn't make sense to when I can pay with a card and get all kinds of stuff for free. When I was a contractor, I bought most of my materials for my jobs on the card. Racked up a lot of free cash that way and one heck of a credit score. ;D

[mike692]

Another vote for the Cabelas card....

Although I recently added an Amazon.com Visa. I do buy a fair amount of stuff from them and the card pays back bigtime for Amazon purchases.

[trapperandhunter]

i have 2 cards, both through my bank, one is a no annual fee card, that i basically have for emegencies, the other one is a 10 buck a year annual fee, but i earn travel points that can be used for anything from hotel rooms to plane tickets to any other travel expenses, basically i pay for them on my visa card, and instead of tranfering money i just have a balance of points and use them towards what i spent. both cards i basically pay off as i spend money on them,

[Admin]

Just got a coupon in the mail for Home Depot. 0% in purchases for 18 months ;D

Now THAT I can use ;D