Any Good Credit Cards

[GatorBoy44]

I was wondering if anybody knew of any good credit cards out there. I am a recent final select (SNA through BDCP) and I am looking to help build my credit. I thought that there might be a good low interest credit card out there for people in the military. Any advice?

 

[mmx1]

Interest rate doesn't matter if you pay your balance in full each month. I don't know about interest rates as it doesn't matter for me. As far as benefits, Citibank has a Dividend Platinum Select Mastercard that gives 5% back on groceries and drugstores, 1% everywhere else. When I applied they also sold me on their Professional card which is 3% on restaurants and 1% on everything else.

Discover has a cashback too that College students like, but it has a monthly fee and isn't as common.

 

[Killer2]

USAA gave me one when I signed up for the Pre-Commissioning Loan. They said since I was in a Pre-Commissioning program they would pretty much just give it to me. And it does the cash back thing as well.

 

[Fly Navy]

USAA credit card is pretty bad a$$. It's a variable APR, and right now I think it's about 8%, in that range. When you have to make emergency purchases that you can't pay off right away, an APR like that matters a LOT.

 

[gaijin6423]

I'm surprised this question hasn't come up before, but it's a pretty good one.

I concur with Fly: The USAA card rocks. I can't say for certain, but while I was in school, the APR was way low. How low, I can't remember, but I want to say it was even lower than the 8% I have on the thing now. I suppose that's to help poor college kids out a bit, and get them to stick with USAA. Not that I really needed too much enticement after the way I've been treated by them (and how a few lousy banks/credit unions have treated me).

You might want to look into Navy Federal, as well.

 

[GatorBoy44]

I went to USAA's website and filled out some info for membership. Is this how everyone else got a card through them, or do they actually have a physical location that I need to go to or call. I guess I will check with Navy Federal too.

 

[Fly Navy]

I went to USAA's website and filled out some info for membership. Is this how everyone else got a card through them, or do they actually have a physical location that I need to go to or call. I guess I will check with Navy Federal too.

USAA has no physical bank, all of it is done over the mail/internet. So yeah, signing up on the internet is how we all did it

 

[HooverPilot]

USAA has no physical bank, all of it is done over the mail/internet. So yeah, signing up on the internet is how we all did it

I've actually been to the branch office at their offices in San Antonio. Great service & nice people, but I am certain that is their only location.

 

[Fly Navy]

I've actually been to the branch office at their offices in San Antonio. Great service & nice people, but I am certain that is their only location.

I believe it is too, that's why I didn't really mention it.

 

[gaijin6423]

That's the thing about USAA, though. They KNOW that there aren't any damn branches out there, so they tend to be way more helpful via telephone and their website. Unlike a certain bank I used before joining the military (a while ago), who kept telling me to, "Just come into one of [their] many locations!"

 

[Sundown]

USAA credit card is pretty bad a$$. It's a variable APR, and right now I think it's about 8%, in that range. When you have to make emergency purchases that you can't pay off right away, an APR like that matters a LOT.

Definitely the way to go if you're going into the military. USAA strives to keep things cheap for the armed forces. 8.75% is the current APR, and that is a hell of a lot less then I could find anywhere for my age and current credit standing. Look into all of USAA's financial opportunities (IRA, etc.), I'm sure you'll be able to save a lot of money, I sure as hell have.

 

[nugget81]

Here is a recommendation: Don't use a credit card to establish your credit rating.

Save up some money...1 credit card is not going to establish enough credit history to positivey affect you over the next 12 months if you want to establish credit now in order to be more desirable for a car loan or something;

I disagree. I worked for a bank for several years and I know that "no credit" is just looked at the same way as "bad credit". Even that one little credit card helps...unless you make late payments, incur overages, and conduct other financially irresponsible behaviors...

 

[Raptor2216]

I can't say that credit cards are a bad way to build credit. I built my credit with credit cards and it was also a big help during college when you need the extra money. If you are smart about things then there is no need to avoid credit cards. I consolidated all my creditcard debt with a USAA loan when I got commissioned and now I have great credit that I can use to buy a car when the time comes. It also helps to have a card with 0 interest for the first year.

If you are looking for a low fixed rate CC then I would suggest that you look into a chase credit card. I have had had their card for a year now and they gave me 0% interest for one year and a fixed rate of 7.99% after that. This card was a great help to me during college.

 

[Physicx]

Whats funny is I couldn't get a car loan because I didn't have credit. They said go get a credit card and come back in a year.

 

[Raptor2216]

All of a sudden the black line between what you and what you becomes gray

By that same argument one could say that if you have a few thousands in the bank account you are more likely to spend without thinking twice. If a person can't control their CC use then i'm sure that they have problems maintaining their finances in general. Having a CC with a $500-$1000 limit isn't the end of the world. Instead of buying your groceries or other everyday items with cash, use the card and pay it off at the end of the month. Having a card with a $500 limit should be enough to cover such expenses and you can use it to build your credit at the same time.

BTW, I had a high enough credit score after a year and half of credit card use to get myself a $1500 bike so every little bit does help.