healthyagain

I do not have much experience with these, use cash and debit cards, but consistently getting offers in mail. Now since I will be moving, divorcing, etc., I was thinking to get one for emergency payments. You just never know. Does anybody have any experience with Capital One? Any other companies you might recommend?

Thanks!

HopefulinFLA

I've had good experiences with Capitol One, Chase, and Citibank.

Refiner

Good idea, just make sure you pay it off every month. Capital One is a good one.

amy55

I'm going to leave this to people who have more knowledge of interest rates and whatever. I have several credit cards. I pay them all when they are due. It is always a good thing to get credit cards to establish credit.

Very good idea

((((((((((((((((hugs)))))))))))))
amy

dandylion

healthyagain.....When I am trying to evaluate "stuff" and I need more info....I usually use AARP evaluations or Consumer Reports......
That helps me much of the time......

dandylion

FireSprite

Me too. Depending on what you intend to use it for, there are different types available from each bank, typically. I had one that earned great bonus points so I used it for all of my monthly expenses & paid it in full each cycle. We used the rewards for vacations. Now I've gone back to basics with cash only but I keep a couple with reasonable credit limits locked up for emergencies. I also look for annual fees, etc. when comparing cards. The only time I ever paid one was when the fee was minimal compared to the rewards.

HopefulinFLA

Good point Firesprite. The Chase Freedom Rewards visa has a great rewards program. I use it for groceries or any thing I'd pay cash for. I pay the charges made with bill pay through mg bank weekly so I never psy interest. The rewards program gives me 1% cash back that can be redeemed as check, statement credit, or gift cards.

honeypig

I also have a Chase card and like some others who posted here, I pay it off in full every month, so I never pay any interest. I use it instead of cash or check for virtually everything. And yes, I have one w/"rewards", so on a regular basis, I will redeem my points for a $25 or $50 debit card, which usually ends up being used for gas.

I've done this for many years now, and it works really well for me. I think the key is to be sure to pay it off in full each month and not carry a balance.

Hoping you find a card that is a good choice for you!

Thumper

I do have credit cards and keep them in case there was some kind of emergency. I would use them to buy groceries if we were facing starvation and to fix my car if there was no other way because I can't work without my car.

The thing to know is that you have to be incredibly disciplined and strict in your budget if you plan to use them. Interest rates on all of them are so high it will absolutely bury you financially if you carry a balance. It is shockingly easy and quick to get in a financial hole with them. BTDT.

knowthetriggers

Thumper is so right!!! Speaking from experience here, my AH and I have terrible spending habits. We have been in two very bad financial situations because of credit cards.

Not bad to have credit just use it very wisely!

FeelingGreat

If you know you're impulsive with money they can land you in big trouble. If you're disciplined, they can be a useful tool.

healthyagain

Thanks! I am extremely careful with money, even stingy. This is just for emergency. Extreme emergency. I hate credit cards and the whole concept. But, in this situation, it is good to have one.

I submitted the application online and got approved. Should get the card in 7 to 10 business days. Perfect timing! It is Capital One, quicksilver, 1.5% cash back.

Thanks again for your responses!