I have never had one. I have always tried to save up and purchase thigns I wanted/needed up front with the full amount (minus car and property). This has worked pretty well for me. But it looks like with all the benefits and rewards available with credit cards now, it may be beneficial to get one.
Preface: I know nothing about the options available. I know generally that there are two types (points vs cash), but that's the extent of it.
Anyone want to give me a crash course on the difference between the two, which have you found to net you more money/free purchases? Which should I get for a first time card that would get me the best return?
I plan to use the card for groceries, gas, going out to dinner/bar, household purchases, and I guess any unforeseen large expense I have to make in a bind (car repair for example).
I rarely travel by plane, so I won't be using it to purchase that or hotels, and "plane points" are not that big of a concern.
re: Need some basic info and suggestions on first credit card(Posted by Bond... James Bond on 10/8/13 at 10:57 am to Chair)
I just got my first CC and went with American Express. They seemed to have some better benefit options and have a wide range of card incentives like cash back or points. Be mindful though that they aren't excepted everywhere like Visa or MasterCard
RickAstley LSU Fan Reno, Nevada Member since May 2011 1657 posts
re: Need some basic info and suggestions on first credit card(Posted by RickAstley on 10/8/13 at 11:11 am to Chair)
I got a secured card for my first credit card due to no credit history. After a year of it I have been flooded with letters from AMEX and Discover. I finally took Discover's offer on the Discover it card. It is a cash back rewards and has been fine with me. If you do a lot of one thing in particular such as flying, driving, online shopping, etc... you might benefit from getting a specific rewards card. I took Discover up on their cash back rewards card which has suited my needs with no annual fee.