whats the best credit card ?

Rent/insurance etc. does not build credit. So many credit myths out there...

 

I'm late to the thread, but I love my Chase Amazon rewards card. It racks up reward money really quickly and you can use it for Amazon purchases (I buy from there all the time), get a check, other gift cards, etc.

 

One with a zero balance?

 

ditto i use mine for almost everything

 

I used to have one but didn't like that slot of places didn't accept it. Same with Amex. Visa all but has a corner on the market

 

yeah I think there is 2 places I frequent that still don't take discover, I use my debit card there which is visa

 

Same here.

Especially nice if you're a student who has to buy textbooks.

 

There is no real "best credit card." You want a card that suites your needs. If you plan on keeping a balance month to month, find a lower interest card. If you plan on paying off your balance each month, find a card with the perks you want (airline miles, cash back, points, etc...) Then there are cards with a mix of both.

If you are just starting out with credit, you are going to get some really horrible rates. When I got my first student card about 6 years ago, I had a rate of 24.99%. Now my current card that I use has a rate of 11%. With the economy the way it is, lenders are being stingy with interest rates, so don't expect that great of an APR.

For running balances from school and misc wedding expenses I bounce back and forth between my Chase Freedom and Citi Diamond card. I'm constantly getting 0% balance transfers from each, so I just transfer when my year is up and never pay any interest.

As far as the best company, peoples opinions are all anecdotal. People have had good and bad experiences with every company. I have dealt with Amex, Citi, Chase, Bofa, and Capital One and have never had any issues with either. I do like how Amex's call center is not outsourced to India though.

I have never made a late payment, gone over my credit limit, or had a payment returned, which may be why I've had such good experiences.

If you're just starting out, there two general options. Get a store card which are easy to get approved for, but they have horrible interest rates. Buy something you would usually just pay cash for and pay it off right away. You could also try to apply for a card provided by where ever you bank. They generally are a little more lenient to their current customers, especially those with a good banking history.

Other option is there are cards that require you to pay for them in advance. You give them $300 and that is your limit.

Both options will build your credit.