top 7 credit cards for those with excellent credit

NEXTADVISOR BLOGTop 7 Credit Card Offers For Those With Excellent Creditby Tasha Lockyer November 6, 2013

UPDATED: October 31, 2014

Do you have excellent credit? If so, banks are actively lookingto win you as a new credit card customer by offering someunprecedented deals. Although banks have been more carefulabout acquiring customers with questionable credit since the2008 Financial Crisis, they are now fighting harder than ever towin coveted customers with great credit. If you are in theexcellent credit sweet spot, they are effectively giving youmoney (and a lot of it) to use their credit cards. These are thetop 7 deals you can take advantage of today:

Blue Cash Preferred Card from American Express: This issuch a great cash back card that I have one. Cardholders earn6% cash back at supermarkets (up to $6K in purchases), 3%on gas and at department stores and 1% on everything else.

The 3% cash back at department stores is sure to come in handy this holiday season, as will the 6% atsupermarkets if you're hosting any holiday dinners or have guests visiting. Plus you'll get a $100 introbonus and one year of Amazon Prime after spending $1,000 on purchases with your new Card in thefirst three months that's a 15% cash back bonus on the first $1,000 you spend! In addition you'll enjoya 0% 15-month intro APR on purchases and balance transfers. There is a $75 annual fee, but dependingupon your spending patterns this card should easily pay for itself and then some. If you want a similarcard that has no annual fee, check out Blue Cash Everyday Card from American Express, which has thesame 15-month 0% APR but lower cash back rates and a slightly lesser intro bonus.

Citi Simplicity Card: Shopping for a special item for yourself or someone else? This card will let youmake big purchases then carry that balance into 2016 without paying a dime of interest. The CitiSimplicity Card features an incredibly lengthy 18-month 0% introductory APR for purchases and balancetransfers. And there are no late fees, convenient if you sometimes forget to pay your bill on time, as wellas no annual fee. The combination makes this card perfect for anyone looking to make a large purchase(or several purchases) or who is interested in transferring balances from other high-interest credit cardsto this one. Either way it's a smart choice.

Barclay Arrival Plus World Elite Mastercard: Like to travel? This is the card for you. You'll earn 2miles per dollar for every purchase, and a bonus 40,000 miles equal to $400 in travel after spending$3,000 in the first 90 days of card membership. To use your miles, just book your travel and redeemyour miles for a statement credit. You can make your travel arrangements however you'd like (by phone,online, using an agent, etc), fly any airline to any destination, and enjoy no blackout dates.

An added perk of this card is that if you use your miles to pay for travel you'll receive 10% of those milesback. So redeeming 10,000 miles will actually earn you a 1,000 mile bonus that will be deposited intoyour awards bank! That means if you take the 40,000 bonus miles and redeem them for travel they'llactually be worth 44,000 miles or $440. That's a pretty nice bonus just for signing up and using the card.Plus there are no foreign transaction fees, so you'll save money when you travel outside the US. Thereis a $89 annual fee, but it's waived the first year. Overall this is a fabulous travel card and we highlyrecommend it.

Citi Double Cash Card: The recently-launched Citi Double Cash Card (a NextAdvisor advertiser)features an effective 2% cash back on ALL purchases, the best we've seen for a card that offers asingle cash back percentage on everything you buy. There are two steps two getting the full 2% cash

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back. Use your card to purchase the item(s) for the first 1% cash back. You'll receive the second 1%cash back after you've paid for your purchase(s), for a total of 2% effective cash back. As long asyou're paying the minimum due each month you can take as long as you want to pay off your balanceand get the additional 1% cash back (aka, 2% total effective cash back). In addition to this high cashback percentage, you'll also enjoy 15 months of a 0% APR on both purchases and balance transfers,giving you a little bit of a cushion to help pay items off. And to top it all off there's no annual fee and nocaps on the amount cash back rewards you can earn.

BankAmericard Cash RewardsTM Credit Card: If you're in the market for a great cash back rewardscards that also has a 12-month 0% APR, this is a smart pick. Not only can you transfer over balancesfrom your high-interest cards to the BankAmericard Cash Rewards card and pay zero interest for a fullyear, but you'll get the same 0% intro APR on new card purchases. Plus you'll earn 3% cash back ongas and 2% cash back on grocery stores (for the first $1,500 in combined grocery and gas purchaseseach quarter) and 1% cash back on everything else. And the cherry on top is you'll earn an additional$100 cash back after spending $500 in the first 3 months. This card really does have it all cash back,an extra cash back bonus, a length 0% intro APR on purchases and balance transfers AND no annualfee.

Slate from Chase: This card was designed with credit card balance consolidation in mind. Its15-month, 0% introductory APR on both balance transfers and purchases translates to interest-freepayments until 2015. Plus, there are no balance transfer fees during the first 60 days of cardmembership. This is a big deal, as depending upon how much you plan to transfer, balance transfer feescan really add up. In fact, a $0 intro balance transfer fee can save you hundreds of dollars in fees, andthe $0 annual fee is also a money-saver. So if you have excellent credit, you absolutely should not bepaying any credit card interest. Get this card and transfer your balances.

Chase Sapphire Preferred: This is a rewards cards with lots of flexibility. It starts off by earning you2 points for each dollar spent on travel and dining out, and 1 point per dollar on all other purchases.That's followed up by a 40,000 point bonus after spending $3,000 in the 3 months equal equal to $500in travel rewards. Redeeming your earned points via Chase's Ultimate Rewards saves 20% off travelcosts, enabling you to stretch 40,000 worth of points to $500 in travel. You can also redeem your pointsfor cash back, gift cards and merchandise.

The best part is that you can transfer your points 1:1 to many frequent travel programs with no transferfees, including United MileagePlus, SouthWest Rapid Rewards, Hyatt Gold Passport and MarriotRewards. That means 1,000 points are equal to 1,000 partner miles/points, straightforward and simple. This feature is likely to appeal to road warriors who are members of various partner programs, as usersaren't limited to spending their points via Chase's rewards program. There is a $95 annual fee, but it iswaived the first year.

Disclaimer: This content is not provided or commissioned by the credit card issuers. Opinions expressed here are author's alone,not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers. Thiscontent was accurate at the time of this post, but card terms and conditions may change at any time. This site may becompensated through the credit card issuers' Affiliate Program.

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Comments (300)


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Tim November 15, 2013The problem with all of these great deals, as is the problem with increased credit/debitcard usage, lies solely on WHO ends up paying for these "deals" in the end. No oneever considers the obvious here: GREED. Who is behind every single one of thesecards? A bank. We all know that banks do not just give anything away. They do not jusoffer up perks for free. Someone always pays for them.

If The Great Recession should have taught the American people anything, it's that thebanking industry is not on our side. We still feel the results of this today as largerbanks continue tightening policies, raising fees, and introducing new fees forpreviously free services (Chase now charges fees for depositing too much cash intoyour account!!).

Yes, I digress. With cause. Everyone needs to understand that the banking industrywants to encourage the increase in card usage. Why? It makes them partners inevery single transaction that occurs with one, and they will be getting a piece of theaction for each and every swipe. Consider that every time any of us use a credit ordebit card, for any reason. Each time that card is swiped, the business that justaccepted your card (so you can get whatever benefit out of it you think you are) ispaying a fee to the bank that issued it.

Often these fees are rather steep and certainly add up to the cost of doing businessin America today. Sowhat happens to that cost as it accumulates higher and higherwith bank-sanctioned increased usage? Do these businesses choose to eat thosecosts, prolonging the affects of The Recession that slow economic recovery,particularly for small business? Some do. If they don't, those costs are turned aroundand compensated for by raising the price in goods, services, or by tagging on theirown fees for card usage.

Ultimately, my good people, it is you and all of the rest of us who pay the ultimateprice. While the banking industry reaps their profits in the billions of dollars inprocessing fees alone, we see an increase in what we pay across the board, just forthe perceived benefits and conveniences these cards allegedly bring.I applaud business such as Winco Foods, who do not accept credit cards in an effortto keep their prices low for their customers, and other business who have turnedthings around by charging the customer the fees for swiping their cards. After all, it isyour choice to use the card, you should be the one to pay for any fees associatedwith that, not the business and not the next customer in line.

I can assure you that if each of you were responsible for paying the fees that yourcard usage burdens this economy with, you'd think twice next time you pulled it out,and our wonderfully greedy banking industry would have to find another means ofgetting their hands in our pockets. Remember, banks don't give anything away for freeanymore. They don't have to. Our government won't let them fail no matter what, andthey'll continue grabbing money by the billions any way they can until they get slappedon the wrist.

Only we have the collective power to influence their practices.

Paul November 16, 2013I like the comment ! Something we never think about!!!!!!!

Sam November 17, 2013Tim,I think the part you're missing is that credit card usage and acceptance is voluntary.Good for Winco foods that they've chosen not to accept credit cardsthat is theirabsolute right. It is also my right to patronize businesses that accept my cards. I ammore than willing to pay a slightly higher price for the convenience of using my card. Icarry almost no cash and use my credit card for everything. In addition toconvenience, I have flown all over the world with miles which is a real perk. I alsoharbor no ill will towards the banks for making moneythere is nothing wrong withmaking a profit, even huge profits, as long as the activities are legal and ethical.Lastly, I'll point out to you that the higher prices we pay to cover hidden credit card


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fees absolutely pales in comparison to the price we pay for onerous regulations andtaxation by the government. Credit card transaction fees range from 2 to 4% while thefederal corporate income tax is a world leading 35%! Tack on state and local taxesand we're up to 50% in some areas before we've started talking about regulationexpenses. And unlike credit cards, the governments piece of the action is anything butvoluntary.

Tim November 18, 2013Sam, it is true that usage ad acceptance is, indeed, voluntary. But there is voluntaryand then there is voluntary.In today's economic timed and hardships, fee businesses can afford to lose thepatronage of consumers like you who rarely use cash anymore. It's sad that it's betterto eat those fees than to potentially lose a customer. What makes that sadness moreprofound is the logistics of it: you as a potential customer do not carry the actual legaltender and currency of the land may not frequent an establishment because thatbusiness refuses to accept fake, electronic funds that 1) they have to pay a fee tosomeone else to make that transaction and 2) not even have access to those fundsfor several days.

A legal practice does not make for an ethical practice. Banks want excessive profitsthat they were unheard of before they began pushing "plastic." You want perks inreturn for spending your money. A business accepting your cards just wants to surviveand compete.

Fees do vary widely. Your 2-4% doesn't cover the entire breadth of the situation.Debit cards carry a lower percentage fee than credit cards. Regardless ofpercentage, you forgot to include an automatic "swipe fee" that can be as much as anadditional 25 per transaction, applied to both purchases AND returns, making abusiness lose both ways. And then there are the additional higher fees for acceptingcard payment when a card is not physically present durinf that transaction. Rewardscredit cards carry the highest financial burden for businesses because thosebusinesses are paying out of pocket to forcefully give over the money to you to payfor them. Ever consider why so many businesses don't accept Discover? Discoverwill charge a business 2% to accept its card so they can turn around and give 1% tothe cardholder.

I'm sorry, but businesses are more blackmailed into accepting plastic by consumerslike you because it's impossible to survive otherwise. You say you'd be happy to payhigher fees to continue as you are? If you were, then you are no longer getting thoseperks. You're paying for them in smaller increments instead. And the vast majority ofpeople are not so willing as you. Do you remember the outrage that occurred whenBank of America announced that they'd begin charging a $5 per month fee to itscustomers that used a debit card? B of A had to rescind that due to the backlashbecause people wouldn't voluntarily hand over five dollars a month for theconvenience you love so much.

And while true that there are worse evils in the world to tackle, it doesn't diminish theimportance of the smaller ones. As I said before: legal versus ethical. You have noissue with banks reaping outrageous profits for doing nothing? Do you have anyissues with oil companies doing the same?

Angel Flores November 19, 2013All of these credit cards are for people with excellent credit. They can afford the offersif they choose. Now as far a Winco, they arent saving me any money if the productgoes bad before i get it home.I have excellent credit and I keep it by only making purchases I can afford. It's likeanything, you have to now how to play the game and be responsible.

FRANK November 22, 2013Credit cards are great if you know how use them and manage your credit.


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Betty November 22, 2013Sam,Well said, I too have traveled the world using my award points. I even bought a flatscreen TV for our mountain home. Useing your credit card for everything and paying itoff each month is the responsible way of handling a credit card.

MaD dOG November 22, 2013Well Tim,You seem to have it all figured out. Banks are greedy and bad. People are stupid andget tricked into getting and using credit cards.If you don't want to use credit cards, fine don't. If you don't want to shop wherecredit cards are accepted, fine don't.But do you really think cash is better? Policies of our government and theirsister-wife, the Federal Reserve make the dollar worth less and less every day. Andwhen the pumping stops and the inflation starts, cash lose value even more rapidly.The problems of bank policies stem largely from an overreaching federal government.If banks even big large mega banks would be allowed to "fail" when they makestupid decisions and bad policies, they would likely make fewer of them. Governmentinterference in the loan underwriting mechanism and bailouts after huge blunderslargely lets the banks do as they please.Capitalism is a risk-reward environment. Eliminate the risk with bailouts, and therewards with burdensome laws, regulations and taxes, and you no longer haveCapitalism.Some regulation of banks is necessary to prevent fraud and maintain solvency. Ourcurrent system is so far beyond that now.By the way, I have a credit card with no annual fee. I pay the balance off each month,so I don't pay any interest. I get 1.5% cash back on each purchase. I'll bet credit cardcompanies hate me.

Jerry Ray November 22, 2013Angle Flores comment is great; short and to the point. You don't have to be rich tohave excellent credit. Just pay your bills promptly and don't miss any.As for me, I don't use the credit card for little purchases, I use cash. I think that helpsoffset the fees charged by CC companies. I don't buy a 79 cent item with a creditcard. Not much left for the merchant that way.

FCellura November 25, 2013USE OF CREDIT CARD IS SMARTER WAY TO GO. I DO NOT KNOW HOW MANYTIMES FOR RETURNS, WARRANTIES, REBATES, TAXES, HAVING PERMANENTNTRECORD OF PURCHASR HISTORY HAS COME TO RESCUE. ALSO, YOU GETTHINGS LIKE ACCIDENT AS ND RENTAL INSURANCE, BREAKAGR PROTECTIONAND EXTENDRD WARRANTIES.

WD November 26, 2013Card slaves are Eloi..tasty treats for Morlock who will suck the marrow from yourbones.

Christopher November 28, 2013I use a credit card that pays me cash back only. In 2013 has received just about200.00 so far. It is a matter of being responsible and not carrying a balance . I use mycard as I would a debit card. If I can't afford the purchase , I do not make thepurchase. As far as businesses getting charged fees, they can pass that on to theconsumer if they wish to..Gasoline stations do it all the time. I choose not to purchasefuel from stations that do so. It is all a matter of choice . C. R.


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Liptonius November 28, 2013I note with interest that not one of these cards lists the A.P.R. gouge rate AFTER the12-month honeymoon.

I wonder why that is?It's a mystery!

D Nguyen November 28, 2013"Swipe fee" is only charged to smaller shops which cannot reach the volumerequirements bigger processors offer. Larger chains, like Safeway, don't pay that, justa straight percentage of the transaction about 2.4%.The bigger problem than swipe fees are chargeback fees. The processors charge a"chargeback fee" that may be in tens or even hundreds of dollars if you have "toomany" chargebacks. It only takes one fraudster to lose hundreds of dollars to thosefees.

John Dill November 29, 2013The card companies better wage a good fight to win customers because they will belosing them to BItcoin very soon.

Greg November 30, 2013@Sam

Please show me a company that is actually PAYING 35-50% taxes. They don't exist.

AW December 1, 2013Sam,I agree with your points about the government and the banking industry- I think theyare all corrupt. But in support of Tim's point, as a small business owner the feescharged by banks to be able to have your business are exorbident. The tale 2-4% ofhard earned profits- just taking it right out of the bottom line. The small business owneris taking the hit. In addition to the transaction fees they also charge businesses forthe machine used to swipe the card. Your bank does not hate you. They still make1.5-2.5% off every dollar you spend, even after giving you 1.5% back. Think of howmuch you spend in a year, and multiply that times the number of people in societyusing credit cards. Banks make a huge profit. The point is, they encourage you to usethe card and charge small business owners who are struggling to break even everytime you do.

Noah December 1, 2013I have had Chase Slate for some years. The introductory offer is good, but don't carrya balance after the interest free offer is up. I am currently paying 27.25% interest ona balance of some $2700. Wish I could get caught up soon.

business loans for people with bad credit December 1, 2013Hey there! Someone in my Myspace group shared thiswebsite with us so I came to check it out. I'm definitely loving the information.I'm bookmarking and will be tweeting this to my followers!Great blog and fantastic design and style.


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charlotte remodeling December 1, 2013We absolutely love your blog and find many of yourpost's to be just what I'm looking for. Do you offer guest writers to write content foryourself?I wouldn't mind composing a post or elaborating on many of the subjects you writerelated tohere. Again, awesome web log!

Clem December 1, 2013Tim has a lot of good points, as does Sam. Speaking as a retired banker, and creditunion officer, I can affirm that banks are indeed greedy. I once sat in a meeting wherethe senior participants were trying to figure out how to raise fees so customers withlower collected balances would not notice. The bank eventually succeeded, as peoplefigured out what was going on, and the less valuable customers left. Most went to alarge credit union. Fast forward ten years: that bank, and others that followed theleader, were on their collective knees begging those folks to come back into thecommercial bank fold. It seems as if those lowly customers were wealthy andsuccessful "members" now.

Many, many of my commercial bank friends continue to do their primary "banking" withcredit unions, just as they secretly did when employed at our/their respectivecommercial banks.Don't reply with the usual taxes, profits etc. argument. I am a dyed-in-the-woolRepublican, and just as much a capitalist as most living in a relatively stableenvironment. I proudly pay my fair share of taxes and fees to live in this great land ofours- the USA. I just appreciate the credit union environment, and its well knownreluctance to participate in financial schemes that make no sense. Just because alarge loan fee can be charged, along with an elevated interest rate, does not make analready crappy loan smell any better.Commercial banks caused our world-wide financial meltdown. Greed is actually a"four-letter" word. Commercial bankers even wish the commercial deposit insurancefunds could merge with the much more solvent credit union insurance fund.

Dan December 3, 2013The thing Tim did not mention is that, while it's fine for the well-off and even the middleclass to say they will pay a slightly higher price for goods in order to get theconvenience and perks, the poor also have to pay the higher price whether they like itor not. Few places charge different prices for cash and credit. The gas stations usedto try that, but soon found customers did not like it, so they just hid it in the price of agallon and now charge everyone extra. They certainly did not just stop recouping thefees. And will not get the perks because they can't get the cards.

As Tim said, not the end of the world, and there's virtually no chance of anything doneabout it, but you might as well face reality.

bozozozo December 4, 2013who pays? the slugs with poor credit who are paying more than 30% interest on theirunpaid balances, and who can't seem to pay it down.

the winners are the rich who can pay their balance each due date.

the real winners are the credit card companies, who screw those who can't pay theirbalances, and who screw the merchants, by taking a percentage of their gross.

the classic win win for the banks.

Richard December 4, 2013@bozozozo: Whether you can pay off balances has little to do with being rich or poor.It has to do with how well you've aligned your spending with your income.


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The way I see it, it either requires great riches or poor judgment to decide to pay anextra 30% on each purchase in the form of interest going to the bank (if you only paythe minimum each month, you may pay more than double the purchase price when allis said and done). I know I'm not rich enough to afford to carry a balance. Or at least Idon't see interest payments as a wise use of my very limited funds. I'd rather spendmy money on ME than on my bankers.

Sug December 5, 2013It all boils down to the simple philosophy of..

IF YOU DON'T HAVE THE CASH, YOU DON'T NEED IT!!

Personal budgeting & household economy are how to stay out of debt.

Don't blame credit cards & banks for making a buck off of your own greed & selfindulgence. Be a better role model when using credit cards, teach your children better.

I acknowledge that there are always extenuating circumstances & the cash may notbe immediately available (ie hospital costs, emergency life saving procedures), buthaving the newest & biggeBEp8q-Zkw%%; p=dedQ6eFst material possession doesnot constitute an emergency.

jack December 5, 2013I'm glad these banks make profits, my 401k holds some of their stocks. Cut the sourgrapes, my luck is somebody else's fault comments and get in the game.

George Wills December 5, 2013I'm not sure if anyone else has commented on this, but has anyone mentioned that allof these deals end with a VARIABLE interest rate? I'm paying 10% FIXED interestand would LOVE to transfer my balance to a 0% card for a year and a half but notat the expense of coming back to a variable rate that STARTS at 13% and could goclear up to 23%! Ouch!

Randall December 6, 2013Borrower is slave to the lender.Get rid of your credit cards.Stop buying things you can't afford .If you don't have the cash you can't afford it.Live your life in peace and stop trying to play games with your credit cards to getthese trivial gifts luring you to being in debt.Look at the size of their building versus your house .They have a big office building for reason, because they know what tricks work todeceive consumers.

Whitey Joe Young December 7, 2013Wow, there are a lot of whiners out there.Everyone knows the merchant pays fees. Everyone also knows it's voluntary. No oneis twisting their arm. However, consider this: in certain businesses, like travel +leisure, or restaurants, if you do not take credit cards, you are laughed right off thepage in the online directory of places! Seriously, can you fathom how many extra"rounds" of drinks were bought because the one buying them "just put it on his card?"

Yep plastic brings profits. Why do you think it became so popular? Duh!

Madeleine December 8, 2013@Clem I agree with using credit unions. Anyone who doesn't maintain a hefty balance


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at a bank (I'm talking 6+ figures here) is much better off at a credit union. I get freechecks as a long term senior customer, earn interest on my checking account with nominimum requirement, get refunds of any ATM fees I incur, have overdraft protectionand always get personalized service when I need it. There is no way that would be thecase at a bank. I remember years ago opening a checking account at Republic Bankon the promise of "free checking for life." That was a joke. They canceled the freechecking after about three years. I also feel a commitment to my credit union. I rarelyuse ATMs, try to get cash back at the grocery store instead. I rarely use checksanymore as my debit card provides my CU with a small profit. Its a two way streetwith the CU feeling an obligation to me and I to them.

Madeleine December 8, 2013@Greg, Boy are you ever right about that, Not only are there almost no companiesactually paying the 35% or 50%, many pay 0% and not a few are actually getting ourtaxpayer money back as refunds!

waldia December 9, 2013banks make 500-700% profit on each transaction, so having 1-3% kickback out of ourown money is no sinner! never consider a simple card that is shining example ofbank's absolute greed and principle of not sharing the spoils.

Tom December 10, 2013Why don't they just lower rates and fees. I don't need a "free prize in every box" or arebate scam. Why not just keep it simple. Does anyone know a card like that?

Robert Wesolowski December 11, 2013Cash, checking account, debit card, credit card and bitcoin are instruments tofacilitate financial transactions. Each instrument has strengths and weaknesses.

My wife and I choose to use credits cards for almost all of our financial transactions.The cards provide safety with nominal risk. The card issuers provide excellent serviceand assume the risk of fraudulent transactions. They provide additional benefits tocard users in order to remain competitive.

Although we use credit cards, we do not carry a balance. We do not carry a balanceas we use the cards for the "ordinary" purchases that we would pay with cash, checkor debit cards. These purchases fall within our "budget" and are expected expenses.Extraordinary purchases, such as appliances, are also placed on the credit cards buthave been put in our budget and we have set aside funds for payment.

The side benefit to us is the cash rewards for shifting our payments to the creditcards. The amount will total over $1,600 this year with a large part coming from theAmerican Express Blue Cash Preferred Card.

1Dartagnon1, Dartagnon Puissant December 12, 2013American Express suggested I use my card for every day expenses and told me thatif I use my card at a gas station that I'll get a 3% kickback well by using my cardit cost me 10c MORE per gallon of gas and I need just over 9 gallons so it cost mejust short of $1.00 to use my AMEX card I saved 3% of $32 or 96c so in thiscase I came CLOSE to breaking even but it pays to check out your card CLOSELYto see if the benefits outweigh the costs or is the bank winning? There are THREETHINGS USED to CONTROL the people of Earth 1) Governments 2) Religions and3) BANKS beware the bankers!!! Caveat Bankers.

Rob December 13, 2013Having been on the collection side of the house, the bigger issue is granting credit to


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people who do not understand the ramifications or should not have it! Or, they chooseto ignore the consequences and walk away from the debt. Also, attorneys promisingbankruptcy relief and a government that makes collecting money owed dang nearimpossible with outrageous regulation on legitimate collection firms. All part of agovernment intervention that interrupts the business cycle with unintendedconsequences for legitimate businesses. Borrow wisely grasshopper!

Eual December 13, 2013Lots of great commentary from multiple angles of the issue. As a consumer andregular user of plastic, I find carrying cash is much too inconvenient. Mainly becausecash sources, for me at least, are out of my way during my daily commute to and fromwork. Oh sure, I could keep a small amount on hand home but then, it seems todisappear. Like many consumers, I despise the merchant that has imposed a swipefee if I choose plastic; and like many consumers, I do not give them my business anymore. They want to make profit just like any business owner does, but is it right topunish those that bring food to your table? A few of them also I've noted, don't want toaccept checks either. As quickly as swiping a card at a POS machine has taken mostof the civilized world by storm, it makes me wonder though if we will truly become acashless society entirely.

Primo December 13, 2013Capital One = cash bank, no annual fee, and no foreign transaction fee. Pen Fedgood as well but reward points rather than cash back.

Terry December 14, 2013I have the same Credit Card for the past 25 years. I purchased it through my CreditUnion and over the years it has saved me a ton of money. No gimmicks, just lowinterest rates, and excellent service. Who needs banks?

Volk December 15, 2013Please read a small print at the end of the article. The author is compensated bycredit cards. These are not the best credit cards by any means. The vast majority ofthem have annual fee. Check out Discover and citi mastercard. The same or bettercash back programs, but without annual fee. The article is just a commercial

Michael December 16, 2013I remember in the 1960's, into the 1970's, 12% was a common credit card interestrate, while passbook savings were paying 4.5% rising to 5.5 percent. Today, theaverage credit card interest rate is close to 15%, while regular savings accounts paywell under 1 percent. See, there's plenty of room to provide for cash back rewards.

Ric December 17, 2013Tim, well said. You are absolutely correct. The bottom line is these banks are notdoing it for our benefit.

Don December 18, 2013SamThe average corporate tax actually paid by U.S. businesses is 14%. Some keepstating the 35% number as if it's real. It isn't. The business lobbyists have packed in ahuge number "special exceptions" by "influencing" Congressmen and Senators to votethem into law. I wonder how they "influence" them to do that? It's too bad you and Idon't have someone to write "special exceptions" into the law to cut our taxes by 21%a year.


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Ofer December 18, 2013I have a better card than all the above, if you are after rewards, and a second cardthat is arguably better.AMEX Fidelity Investments Rewards has no annual fee and gives you 2% oneverything, no ceiling.Chase Business Master Card has no annual fee, gives you 3% on gas, restaurants,office supplies, and home improvement. 1% on everything else.

chargin' away December 18, 2013I use my cards like charge cards, so I never carry a balance.Regarding the higher cost of transaction on the merchant, one way to play that gameis to own shares of bank stocks, then you get both sides of the game, like paying yourself the transaction fee.

anybody who is paying credit card interest should get a payday loan and pay itdown..:)Are you kidding? Anyone paying credit card interest needs to do whatever it takes toget your balances down to zero, and if you can't you should cut up all your creditcards until you can manage your finances

wdp December 19, 2013There are transaction costs to all forms of payment. Even cash has the cost ofcounting it and taking it to the bank to deposit. Banks then have the cost of tellers andaccounting for it in their records. Checks have their transaction costs. Debit cards arelike credit cards and have their costs. Fraud is a cost for all forms of payment. So thebig question is; are the transaction costs for credit cards so much higher than all otherforms of payment that they should be avoided by consumers and merchants? I doubtit. Not at this point, although the electronic age may come up with a payment methodso superior that Visa and Mastercard and American Express go out of business.That'll be the day.

J Smooth December 22, 2013Why is it that NOBODY understands how to use credit cards? Instead I always seethese post about FEES FEES FEES! You do not have to pay ANY FEES to use anycredit card. Please let me explain how simple this whole credit card issue is America:Credit Cards are Great, that's right Great, but only for mature individuals whounderstand how they are to be used.1.) Credit Cards make up the bulk of a credit score (good or bad your choice on howyou use it) at a whopping 35% of your score is judged by these specific debtinstruments.2.) You have way more protection than your debit card (anyone shop at Targetrecently)3.) Safer than carrying cash, and if it's get's lost or stolen, call the issue and cancel it,AND get your money back! Try that with a wad of cash.Now these Fee's that you always talk about. When you have a credit card, if you onlyspend an amount that YOU KNOW you can PAY OFF IN FULL every on or before theDUE DATE, guess what player? drumroll please. YOU DON'T PAY ANYFEE'S!!!!! ZILCH, ZERO, NADA, NOTHING, NATHAN, NOT 1 CENT.Wow Poof! It'sMagic. And you build awesome credit because you have a, 0 debt to credit ratio, andyou get all the protections I mentioned before, and your favorite, NO FEES OF ANYKIND> so what is the complaining about? I'm guessing the people who aren't smartenough to pay off the balance every month and fall into a death cycle of interest. Butthese same people are smart enough to study fiat money and assert other conspiracytheories, yet cannot responsibly only spend what they can afford. Why not use creditcards to your advantage and pay off any and all balances every month, and let thecredit card companies pay you instead, smarty pants. I'm just saying, I Call it like Isee it, and I C U.


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Oh Yeah December 23, 2013J Smooth.CORRECT.CORRECTCORRECT..Some people villainize bankslike it is their fault. Without fees people would just not pay. Banks are a business justlike Walmart. They are giving you credit (money) that you don't have to carry with you.It is a convenience that is FREE if you use it right and not only that, it PAYS YOU forusing it right. Pay on time and you don't have to worry. Spend ONLY WHAT YOU CANAFFORD and you don't have to worry.

oberon December 25, 2013I am the customer standing behind the lady who is counting out pennies and nickels topay for her $23.17 bill at Target == I am the man with the axe.

BillHHI December 27, 2013I tried the Chase Slate card which, on the surface, appeared to be just as advertised.However, after receiving the card a letter came along a few days later explaining theycould not pay off one of the balances. When I called to ask why they said the bankwould not accept a check from them and I had to write one myself from those thatcame to me in the mail. Kind of strange so I cancelled the account. That took forever!

Phil December 31, 2013I wish I had the time to spend an hour writing a socio-economic commentary on anarticle on credit card offers. That would be nice.

Ed Snowden December 31, 2013Much of what the banks do today was explicitly against the law 25 years ago.Regulatory capture is an awesomely profitable biz model. With the sheriff on yourpayroll, you can't lose

Occams January 1, 2014Funny to see the sheeple rise up to defend their spending-without-money madness.One point 'Sam' missed is that all these transactions are 'digital', and causes MOREmoney to be printed which is WHY we're in the mess we're in; 'If you're not part ofthe solution'And one fool on here actually believe that his cash has devalued so he doesn'tcarry any so only uses cards? HUH?? The logic there eludes me. lol. Sheeple. Thecontrolled-MSM media and the gov' have gotten Americans to believe ANYTHINGthese days.

Which leads me to what is going to happen. A False Flag event IS coming, and a'terror attack' is disguised within a drill, so those participating in the 'drill' are unawarethe drill has 'gone live'.

The government keeps 'planting the seeds' of a power grid-takedown, a bankingcomputer virus, etc. This is to get the idea planted in the American sheeple's mind, sothat when it does happen, Americans, like those bobble-head dolls, will all collectivelynod that they "knew about this".When all you cash-less, living on cards and EBT's, and I-make-$1.25-purchases-on-a-card fools wake up, it will be too late. Their 'drill' they were "practicing" that day'somehow coincided with a terrorist attack' like Sept 11, Boston, etc., and your newgod the credit card won't be able to save you.

I'll leave you with Vladimir Putin's recent words to chew on; Any fourth grade historystudent knows socialism has failed in every country, at every time in history, saidPutin. President Obama and his fellow Democrats are either idiots or deliberately


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trying to destroy their own economy.

"Conspiracy theory"? Yea. Keep telling yourself that.

Isaac January 1, 2014In response to Tim November 15, 2013. The people who pay for it are the oneswithout discipline and and self control on how to spend. The savvy ones get thecards, meet the minimums to get the bonus, pay them off and close the accounts.You'd be better off educating consumers on how to manage their credit than blaming iton the banks. Who doesn't know that a company's goal is to make a profit?

Dennis January 2, 2014Credit cards definitely offer some unique benefits if you know how to take fulladvantage of the terms ( at least reading the terms would be a great start for manyusers). When LOT airlines completely mucked up my trip, then refused an even partialrefund, i got my entire airfare ($1100) back through the card company I had used tobuy the tickets. More recently, my wife and I got bonuses of 140,000 AmericanAirlines miles by opening 4 Citibank cards 2 years ago, then closing all but one, whichwe use to get additional miles ( 1 mile/$1 spent). The yearly fee on the card is $90,and since we pay off the balance every month, we don't get charged any interest orother fees. Using the miles saved us about $2800 on airfare, with over 40k miles stillunused. $2800 for $180 is a great deal in my book. Too bad it's for first timecustomers only. But I'll definitely check into the Barclays Arrival and Southwest dealsin the article. Someone in the comments claimed you have to be "rich" to pay yourcredit cards off every month. Apparently, the commenter has cause and effectconfused. If you ever hope to become anything close to rich, you might wanna startby paying on time and avoiding the fees. My wife's a nurse and I am Army enlisted,with no lottery wins or wealthy parents so we are as middle class as it gets, butour credit histories show zero late payments over the last 14 years. When you dothat, banks will indeed offer you thousands of dollars in rewards. Yes, I realize bankowners are not the ones giving me the money it comes from fees and interest bankscollect from other cardholders. But any time folks paying 18% APR on sh*t they can'tafford want to subsidize free airfare for us, we're on board, literally and figuratively

Austin January 3, 2014No list of great credit cards is complete without the Hilton HHonors American Expresscard. 2 years ago my wife and I enjoyed an 8-night vacation at Hilton's all-inclusiveresort in Jamaica, and bought the whole stay with HHonors program points we paidonly for our airfare. We just booked another vacation for next month, also paid forwith Hilton points, this time 7 nights in Curacao, a mere 2 years later. Yes, that's aFREE VACATION EVERY TWO YEARS. If you have the discipline to do all yourspending on one card and pay it off every month, this one's a no-brainer.

Jerry January 3, 2014I got the hase Freedom card and a $400 bonus.I get $1500 back per year.We pay off monthly.You have to have a card to rent a car, so it's for an emengency.I like the record for tax deductions.Jerry

Tom o'leary January 3, 2014The Dave Ramsey plan works my friends. I just came here looking for a good laughand I got it. Credit cards reek


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Ryan January 4, 2014Anyone with VERY good credit is smart enough to care more about the permanentAPR than the temporary deals. Most of these promotions are paid for by 20%+ aprafter the promotion. This I DO NOT NEED. I need a long-term great rate, like the onesI have now. Thus these deal do not tempt me at all.

Paul P Valtos January 5, 2014Forget the come ons. I stick with USAA .I get straight accounting, posted interest andnoting else which is what I want from a card.

Mike January 5, 2014I believe this is a paid advertisement. I've got an 800+ FICO and have done researchon the cards which provide the best deals. For most purchases, I use the Capital Onecard that provides 1.5% cash back on all purchases. For dining, I use Citi Forward: 5points per dollar spent. For gas and groceries, Pentagon Federal CU has a couplenice cards. I also keep the Chase Freedom and Discover cards for their rotatingdiscounts which are sometimes attractive.

Bob January 5, 2014If you shop carefully and obtain items on sale the that helps negate any fees. Havingsaid that, I charge over $50,000 a year and have done that for years. I pay the billsoff each cycle and could care less about the costs. Yes, there are losers in everyequation, that's life.

Ed January 6, 2014Credit cards should always be paid in full every month. If you cannot do so then youshouldn't use them. If you can pay off every month then they work for you. I enjoy afree plane tickets and car rental to Hawaii every three years with the miles in get.Really cost me 79.00 member fee per year. Only charge what you can afford eachmonth and pay on time!

Diamond Jim January 6, 2014Folks, I have been an American Express card holder since 1979 and have not paidone cent of interest. I pay my Am Ex balance when due at the end of each month. AmEx is excellent about protecting it's customers' warranties and faulty productpurchases.

It's curious about blaming the "greed" of banks as the root problem of our economicsystem. 25 years ago, banks made about 1.5% return on assets. That means forexample that if a bank had $100 million in assets, it made about $1.5 million a year hardly greedy. Today banks still make about 1.5% on assets. The difference is that 25years ago, banks made their profit by making loans. How many of you critics have aloan from an actual bank where you went in an applied for a loan? Home loans aregenerally not thru banks; car loans are made by the automakers lending arms; andetc. So today banks have turned into transaction processors -they earn their 1.5%ROA on transactions not loans. So, don't make any transactions if you don't want topay a fee. Asking for free transactions is just another form of greed Time change.Inane thinking never does

Tim-2 January 7, 2014It has nothing to do with "greed". For 10 years my wife and I watched friends andneighbors spend like they were 1% ers, all on credit. The we watched other docash-out refi on their homes simply to put a BMW in the driveway, right before thehousing buble burst.We have always done without what most take for granited, or "expect they deserve"


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and it has been tough over the years raising kids but we also reap the benifets ofhaving a 800+ credit score for the last 15 years.It drives us crazy listening to the same people who fell for living outside their meansblaming the "rich" 1 %ers and the those dasterdly banks.Credit cards and home mortguages are volantary, so is debt, and so is a perfectcredit score.Noone has a "right" to stuff or healthcare or anything else being used by democrats topurchase votes, that is where the fingers should be pointed.

A Different Tim January 7, 2014Hey, I have an idea! Let's all argue about whether credit cards are good or not, andwhether the banks that issue them are evil greedy pigs, a benevolent part of oureconomy, or a neutral transaction processor just running a for-profit business. Be sureto chime in, because no matter what your experience or education on economicpolicy, banking, consumer psychology, or business management, your voice is just asvalid as an expert's! Thanks, internet!

Smiley January 7, 2014I have, for years a credit with 7.9% fixed rate, if I ever have to go over a month, itdoesn't break me.

Tim-as well January 7, 2014Actually good point about differing past experiences with banking institutions. As wesee from this atricle they all are different. With near perfect credit score my ChaseMastercard told me to go pound sand when I asked for a rate reduction from 21%.I'll be checking into something like one of these even though I don't carry muchballance.

locohoya January 7, 2014Never mind the credit card offers. One way or another, they always try to rip us off. Istick mostly to cash transactions, using credit cards as little as possible. And I have itset up to pay off the balance automatically so I never get hit with late fees or interest.And I have overdraft protection, so any time I overdraw my account, the balance getsswept into a line of credit, with a reasonable interest rate (6%). But I usually cover thebalance quickly, so if I do get hit with interest it's only a matter of a few pennies.What ticks me off is that medical offices are now hitting us with late fees. But that'sanother story.

Jhn January 7, 2014waldia December 9, 2013"banks make 500-700% profit on each transaction, "Really? How? I take payments by credit card, and I pay 3% on the transaction. unlessthe customer is going under balance, then there is no charge to them other than thecharge I am making, my processor is making a swift 3% (which seems reasonable,arguably, but that is a separate conversation)So how do you figure they are making 700% profit? If you spend $10 with me, I get$9.70, you have $10 leave your account. I just dont see how the bank is getting $70from this.

Responsible January 8, 2014Whenever you blame things on "the rich," that is nothing more than the whiny politicsof envy and bitterness. "The Rich" got that way by the time-tested way: spending lessthan they earn being responsible with their money & choices.. staying in schoolso they can earn a job with an actual salary and learning from things like books andother responsible people. People who don't do that. who wish to just have things


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handed to them are the ones who blame everything on "the greedy rich." I have twowords for you: Grow up!! As Winston Churchill famously observed: "Show me a manwho isn't a liberal when he's 20 yrs old, and I'll show you a man with no heart. Butshow me a man who isn't a conservative when he's 40, and I'll show you a man withno brain."

TC January 8, 2014I find the vitriol thrown at banks in the comments to be puzzling. If the governmentdidn't disallow merchants the ability to offer discounts for cash, credit cards would nothave anywhere near the market power or usefulness they have today. If merchantswere allowed to offer 3% to 5% discounts for using cash the market share of creditcards would fall precipitously. For those feeling offended by this particularmarketplace, you should look first to our politicians who insist on market meddling thatinevitably produces winners and losers according to their judgement.

MT Maloney January 8, 2014TC: I live in SC. Many gas stations offer discounts for cash, which often includesdebit cards. At least one vendor I deal with, a small beer-brewing supplier, offers cashdiscount. I have seen comments like yours before. I wonder if this is state regulation.

MT Maloney January 8, 2014TC: one more thing: The gas stations that offer cash discounts never beat a 1% cashback on a credit card, much less the 2% I now get. So I wonder if it really matters. Iremember back in college in Baton Rouge, many vendors discounted for cash but theywere always the junky places.

Mountaincore January 8, 2014Credit card not a good deal? Don't get one.

Denise January 8, 2014Worked in the banking for several years forced to QUIT could not continue to seepeople taken advantage of! Big banks set up the mortgage failure and fee's chargedBeware!

KLP January 8, 2014Only one of these cards list the interest rate. I could care less about all the bells andwhistles on a card I just want low interest in case I don't pay it all off that month. Iwaited until I got two offers, one from USAA and one from my credit union and dumpedthe others- yes that means Chase, Citi and Bank of America. USAA and my creditunion have low interest and it doesn't vary.

joe January 10, 2014I have the american express 2% cash back on all purchases. In the past two years ihave collected over $1,000 cash for paying my bills. I run a zero balance, that is hardto do but we will go with out (football tickets, fine dining, some extras). So if you candisapline yourself there is free cash to be made.

Glenn January 10, 2014I haven't read all the posts, but I can tell you that even though I have excellent creditand take advantage of these kinds of specials I've recently experienced the dark


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side of these dealings

Recently my father in law passed away and I started to review the fianancials. Eventhough his credit wasn't great, it wasn't bad either. However, the interest rates thecreditors were charging him were on the order of %25 annually. I now realize thatwhile I'm getting the perks, the banks are making it up on the vulnerable. And aftercontacting the banks to see if the debt could be reduced, I was consistently met with "he signed the papers he knew what he was doing". Well yes that is true, butwhat choice did he have go without food, let the house fall apart, let the car rot?Yes the banks are to blame. They have the money, and they will not give it away.

There is really something wrong with the banking business when they will pay us 0.5%on our savings accounts, and they will charge 25% on loans. Someone is getting rich and it's not me

Paul McCord January 10, 2014Are banks greedy? Certainlybut no greedier than their customers. The idea thatbanks are evil because they are greedy would then apply to every individual on theplanet in one form or another. No less greedy is the government. And if we really wantto get down to it, it isn't just the banks and government in bed together, we're rightthere under the covers with them trying everything we can to get the best dealwhether it is a no interest introductory credit card, "free" goodies from the governmentfor our business or ourselves, the best deal on a car, a tv, a whatever. The vitrioldirected at the banks is as much projection as it is deserved anger. We scream that acar loan is costing us 20%but our credit is crap; we whine that a CD only pays 25basis points but then we turn around and look for low cost or no cost checkingaccounts and credit cards. Do some banks charge more than they should? If they dothe market will find outthat's why I have some accounts with regional banks and localcredit unions instead of major national banksthey tend to cater more to individualconsumers than major banks do.

Tom A January 11, 2014As a self-made millionaire who lost it all, I believe I'm qualified to speak about "self-interest" (versus greed). We are all motivated by self-interest, but the key is showingdeference to the self-interest of those that you "exchange" with (money for service,service for service, etc). Banks have shareholders they "report to", and thoseshareholders invested (exchanged) for a return on their investment.

Banks exchange credit cards with consumers in return for annual fees, interest, or theability to derive funds when the consumer exchanges their credit card "swipe" for anitem. The merchant accepts immediate payment (convenience) in exchange for a feefrom the bank.In all instances above, there are different interests that have to be addressed andbalanced. The "imposition" of one parties interest over another leads to an inbalance,and a desire to move towards equilibrium.Overseeing all of these transactions as an independent (supposedly) arbiter, is ourgovernment. Evidence has shown time and time again, our politicians exploit their roleas arbiters in order to get re-elected. As a "sucker" who lost it all , I'm confident I didnot get the same relief the banks obtained as a result of my poor decisions. Shameon me for not being smarter, but shame on politicians using taxpayer money to bail outdonors (banks/voters) who were just as stupid as I was in their decision making.Banks are there to make money, and that includes the provision of credit cards. Call itgreed if you like, but, if you have a job, then you are greedy you're just in an inferiorposition to that of the greedy bank. If the government bails out the bank, good for thebank and it's shareholders bad for us citizens!

Hill Rad January 12, 2014CC's have save my arse more than once.


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Bob L. Head January 12, 2014The BOTTOM LINE here is education, starting as young as possible. Far too manypeople do NOT know how to create a budget, much less live within one. Too manypeople follow the lead of our Federal, State & local governments by not living within abudget.The interest rate charged by banks on credit cards, is the choice of the consumer topay or not to pay. Debit cards should only be used at the issuing bank. Otherwise,leave them at home because if you happen to drop it on the ground & a dishonestperson finds it, they will use it as fast as possible draining your account & if you haveoverdraft protection they will continue until no longer accepted. How often does acashier ask you for ID when swiping a card?Credit unions, along with local Mutual banks & S&L's (which are owned by thedepositors, YOU) is the place to keep your money. This was mentioned earlier by along time banker. They usually pay a higher rate on your depository accounts, whileoffering lower interest rate loans & credit cards & do not increase the rate if you apayment.

Someone mentioned paying 25%+ on a Chase Slate, all they need to do is make 6months of prompt payments & the rate will be lowered. They forgot to mention the highrate was due to late payment(s). My Chase Slate rate is 7.99%, but I am what isknown in the banking industry as a "deadbeat". This isn't from non-payment but forpaying off the balance the day I receive the bill, so they make NO money from me. Iown stock in several major banks, so I am a "greedy" banker & believe any Americanbased publically traded corporation should have a zero tax rate, because I am not sostupid as to think any expenses are not passed along to the consumers. My Grandfather told me, upon graduating college & starting a job with General Electric CreditCorporation to "pay myself 1st, especially when the company offers matchingsavings". That is FREE money & because it is automatically withdrawn from my paybefore I deposit in the bank, I never missed it. Add to that dividend reinvestment &you can build a very nice nest egg. I did the same when I went to work atWestinghouse Credit Corporation & Fleet Bank. Upon starting my own commercialfinancial consulting firm, I set-up a SEP program which allowed me to stash up to 20%of my annual income "Tax Free". I retired 2 years ago at 55. My wife retired earlierthis year at 62 obtaining pensions from General Electric & International Paper. Alongwith an annuity. We are covered under her insurance from IP & in addition to thepensions & annuities, we obtain monthly dividends, bond & savings interest. We livevery comfortably, but not extravagant. I often ask retailers if they offer discount forcash & the small business mentioned above, quite often offer discounts for cash.AARP membership for anyone over 50 is a "must have", as discounts, offers &access to free financial planning & calculators is well worth the small fee.I have several credit cards. one was used for my business expenses only, one isused for any medical expenses & the rewards card is used for large purchases &travel. I did this for easier tax reporting & budgeting. Anymore, a credit card isnecessary for airline, hotel, rental car & travel. Early in my career & buying our 1sthome having a credit card for emergencies, helped preserve savings. The key isknowing what is a true emergency, like a new hot water heater or auto repair, notreplacing a working cell phone because Apple came out with a new iPhone. Never buynew technology (unless you can pay for it), especially if the item is replacing aworking item.Credit cards, offer charge dispute, free extended warranties, returns, travelinsurance, ZERO liability on unauthorized charges, even Citi offers a 60 day "rewind"offer which when you go buy a new TV or other item, you simply register the purchasewith them & if they find the product within the next 60 days at a price $25 to $250lower, they send me a check. NONE of my credit cards have an annual fee.Several years ago the credit cards offered 0% cash, without today's 3% to 5%transaction fee. I used that free money to invest. Paying the balance off BEFORE anyinterest fee's started. Wake-up people, you are responsible for your own finances. Ifyou are simply overwhelmed by the time & effort to budget & save, then there aremany free resources to help you. Pull you own Credit report for free, requesting onefrom each of the major 3 reporting agencies, every 4 months & correct any incorrectinformation. Don't waste money paying for credit reports or identity theft protection,unless you can afford it & do not have the time or inclination to monitor your owncredit.Set-up alerts on your bank, credit union, debit cards & credit cards, alerting you to


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charges made to these accounts. If nothing else go over your bank & credit cardstatements upon receipt & question any charges you did not make as soon aspossible to avoid any potential liability. If you are living pay check to pay check,making minimum monthly payments, then you must reign in your spending. Start bykeeping track of every daily expense. You'll be amazed at the "leakage" that occurs ona monthly basis. If you expect Social Security & Medicare to "bail" you out, you willfind a rude awakening. In the long run material "things" will not make you any happier.P. T. Branum said over 100 years ago that "There is a sucker born every minute",given population growth it is now every nanosecond. Quit blaming greedy bankers,inept politicians & the "1%ter's and take control over those things you can & take"personal responsibility" for your finances. Because complaining about these thingson a blog doesn't change anything.Money can be one of the hardest things to get, but it certainly is the easiest to giveaway, especially if you do not pay attention. If your bank charges fee's for depositingor withdrawing YOUR money, find a different bank, immediately!Finally, I am not so cold hearted or nave, that there is a portion of our populationwhich due to things beyond their control, like medical issues or not allowed access toopportunities of education or obtaining gainful employment and am not opposed toaudited government help via my taxes. We should all feel some responsibility to helpthose who are sincerely trying to help themselves, including those brave people whohave worn the uniform of our armed services & protected the freedoms we enjoy.As far as "greedy" bankers & how they created the current recession, people forgetthe speculators who got rich "flipping houses", Regan's deregulation of Bank &Insurance companies, unscrupulous Mortgage brokers who took advantage ofuneducated public, the uneducated public, mortgage securitization, including the ratingagencies, accountants, attorney's, Investment bankers & the media, which loves to"sell fear".We spend far too much time looking for someone to blame, instead of fixing problems.Just like the postings. If you have a problem with "greedy" bankers or credit cardsdon't use them. There are alternatives & the choice is YOURS.

Nicole Kim The Blogger January 13, 2014Believing for Super natural debt cancellation. All things are possible for believers.

Kale January 15, 2014The best credit card is one that is cut up into little tiny pieces and thrown in the trash.Live without debt. Yes, it is possible. Studies have proven that you make the moreimpulsive purchases when using a credit card, somewhat fewer when using a debitcard, and the least when paying cash.

Credit scores are simply another scam by the banking industry. I no longer worryabout my credit score because I have no intentions of ever borrowing money again.

Benjamin Franklin said, "The borrower is slave to the lender." So true.

Carl January 16, 2014I don't like carrying around a wad of cash in my pocket increasing the chance of beingrobbed at the least.

The SGM January 16, 2014Credit Cards are good but only for those who know how to manage their expenses.By this I mean using the card(s) only to the point where you will pay it/them off whenthe bill comes in. Carrying a balance is for suckers. What ever you purchased,regardless if it was a great deal or not, you just increased the rice by the interestcharged by your card company. If you cannot pay it off do not use it.

Hericaye January 16, 2014


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Very nicely put, Bob H. Balanced, thoughtfulyou win my Internet rarity prize of theweek

Mederic Roberts January 16, 2014After recent news reports about cyber theft such as the recent issue with Targetstores we have decided to minimize our credit card use. We pay cash at eateries andwrite checks when possible. We still have credit cards and use them when we haveno other option but until credit cards become much safer we minimize their use. I haveonly 2 in my wallet and my wife only uses one. We have been hacked 3 times andbeen made whole by our card issuer each time but still we are convinced credit cardsare dangerous.

Ted January 17, 2014Tim, up above at the top, please sell all of your earthly belongings and give the cashto the poor. Do that, and I, in turn, will not use credit cards that are in my own financialinterest. Seriously though, I appreciate your altruism; but it is, after all, off topic. As itis, by paying off the balance (religiously) on my rebate cards every month, I get freeuse of the money for the billing period, and I earn a percentage of every purchase.

ron waite January 19, 2014I read all these postings and the thing I remember from my youth is that credit cardswere started for a specific reasonto obtain money from the holder. Point and cashback are just the carrots in front of you. The large merchants do not absorb costs theypass them on to you so you are paying a double whammy of the interest rate and theadded merchants costs including the fraudulent target charges, save us from ourenemiesthey are us.

KB January 21, 2014I have a Sapphire and it's really nice. We never carry a balance. Sure, there is anannual fee but for every $100 I charge, I get $10 back. And no, we don't freely spend;we watch our spending.

Danny January 22, 2014As a small business owner and a consumer I agree and disagree. You cannot just add2.75% to cover card fees and to t0 put that into perspective 2.75% of a million is$27,500 profit you lose as a business owner. This is why as a service company wedo not accept credit cards unless customer pays the 2.75% fee we are charged. Amillion in sales is not profit.As a consumer I use my card for cash back . I get 2% back and charge all businesspurchases on it. This equates to up to $10,000 a year. I understand both sides butfeel you should never use a credit card if you do not have the money to pay it offEVERY month in full

frannie January 23, 2014so, for those of who pay our balances in full every month and don't travel, none ofthese cards are for us because frankly, I won't pay fees for having the card either

ricky January 24, 2014NEVER EVER EVER REVOLVE USE DIVIDEND CARDS TO THEIR FULL EXTENTAND HAVE RESTRAINT ITS NOT FREE MONEY IF YOU PAY INTEREST OF ANYKIND!!!!!!!!


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mike January 24, 2014I cannot believe the number of people who are spelling challenged, even to the pointof making their observations impossible to understand.

Ime Ekanem January 24, 2014Discover card gives 10% interest rate, cash back on purchases, and 0% interest onbalance transfers. Citibank gives 0% on cash advances and 21 months, 0% APR onbalance transfers, thereafter, 12% APR on purchases. American Express Platinumcards racks in 3x points on purchases. The benefits on this card actually pays for thewhopping $450 annual membership fee

Don January 27, 2014These are the 5 greatest cards. They are issued by the best of the best banks. Ipersonally carry all 5 of them and couldn't imagine how it could be any better. I want topersonally Thank the banks of the United States of America.

RM January 28, 2014Credit cards are part of the massive problem with America..It has put us in debt alongwith the taxes in every thing we use ,,telephone,water, user so called fees oneverything ,, the progressive NIGHTMARE of ways to tax and get away with it.. Banksin America need to be investigated for crony capitalists involving the progressivepolitician..we also need the progressive politician removed for ALL parts ofgovernment INCLUDING judges..Credit cards were introduced to a nation that USEDto save and buy when they had enough money . credit cards help put Americans indebt so deep that progressives created away to step in and help a person out whenthey just cant afford it all..Its called welfare..just a tool to enslave created by theprogressive..our money is worthless , we dont make anything , we are a serviceoriented country ,and now we have a progressive communist making jobs up ingovernment so the poor can work for the government ..guess what happens whenthey have enough working for the government?think any will vote in a person whowants to cut government? see where we are headed with the help of creditcards?..government ..the helping hand MY assSo credit cards are PART of theproblem taking down america. get rid of them

C Michael Croston January 28, 2014Well! This is the longest damn thread I've ever seen for basically an ad for creditcards. It could be said that the participation in this thread is feeding the frenzy ofgreed, somehowsomewhere . Nonetheless, the small exchange fees banks makehave been whittled down by the Gubment. They still make the big money pushingCDO's, carry trades, and libor, chibor, and buymore. Feel comfy carrying cash? Walkaround with a pocket full of $100 bills next time you look for a TV. If you lose it orsomebody takes it, it's gone, brother. Unless you still trust checks (Ha!). We pay forsafety and security. WE ALSO pay for the deadbeats than run up bills and never planon paying them

Ottergirl January 29, 2014Well, if you don't like credit cards, don't apply for any. Then you won't have to worryabout fees. But let's remember banks are a business and nobody goes intobusiness to lose money. The federal government regulates banks to death and topay for all of the monitoring of controls, audits and the business of making sure thatthey comply with all the regulations, they have to charge fees. Soif you don't wantto pay fees stick your money in a mattress and pay all your bills in cash!

Phil January 29, 2014I am retired I have a home that is paid for and 5 credit cards. I am comfortable but far


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from rich. I use all of the cards and they are all paid in full every month,. The last time Ilooked at my credit report my FICO score was 810. I don't pay any fees . Credit andcredit cards are not bad. Banks are not evil. There seem to be a lot of uneducatedpeople out there, many of the posting right here who feelm that you should not have torepay your debts and that somehow the bank asking you to do so just makes them"greedy."

baseballfan46 January 30, 2014I always pay my cc off when the time comes. At one time I had a balance over1000.00 so I called and asked if my interest rate could be lowered and it was, to 9.99A great rate if I say so myself.Not only do I get cash back I dont have an annual fee.I can choose to get a deposit into my checking, or a credit on my balance or giftcards.I've done all 3 .I am going to try to wait till the end of the year to see what the total will be. Maybe itwill be enough to buy a TV for my guest room.I have 2 cc and they both have great features.

Trustme January 30, 2014Wife I have two cards for auto fuel, repairs, food, monthly overhead, etc that are paidoff each month. The two cards repay over $200 cash per year and one accumulatescash to be applied to hotel/travel purchases.We will use a 3rd card Citi 18 month APR in place of a heating oil budget plan. Buy500 + gallons at lowest cost during summer. Then we'll pay off before next fuillup lessthan year. We feel the low price plus avoiding a oil delivery budget cost saves up to200 a year. It is important to pay on this card each month remembering when the Zeroapr expires and never use the cash advance feature on any card.

Paul W January 31, 2014I have a credit card that I use to pay most of my bills every month, and I get 2%rewards on it. It's enough to get me a round-trip ticket to the city I visit every year,and I always pay it off immediately and haven't paid any interest on it in years.

Incidentally, if you don't own a house your credit rating can only go so high no matterhow responsible you are. I'm a renter and despite using my cards regularly and payingmy balances immediately all the time, my rating has never been higher than 757. Itusually fluctuates between 730 and 757, depending on my activity.

rick January 31, 2014Tim,You articulated it very well.All other commenters who don't keep a balance: Tim's point is not about that at all! It isall about the fees that are charged to the businesses at the *transaction* point,regardless of when you decide to pay your balance of your credit card to the bank.The math is simple. The bank charges the business say 2%, and give you back 1%.The business has to mark up its merchandise/service by 2%. So, we end up paying102% and get back 1% still paying 1% extra for the merchandise or service AFTERgetting back the 1% several months later.

In our economy, one way or another the banks are involved in every transaction wemake. However, their fees charged for credit card purchases are WAY more than theirother fees.

Keith February 3, 2014Wow. Some crazy posts here.


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If you have a credit card, you should only use it if you can pay off the bull everymonth. If you cannot do that, don't have one, or limit your usage.As for the CC fees credit cards are the 21st century. When was the last time yousaw someone write out a check at the checkout line? True, businesses jack up theirprices to cover the 2% in fees, but they do that REGARDLESS of whether or not youpay by cash, credit, or check; because they EXPECT most people to pay by credit,because they do.

I know a few restaurants that will give a discount if you pay by cash, but only if youASK. Otherwise, they still charge full price.

Tom February 3, 2014On the surface these offers look great. It's like a wet spot in the sand in the vastdesert. You've been walking for so long in the heat you're thirsty and upon gazing atthe wet spot you think there is water there. Only to find it was only camel piss. Samewith these card offers; just camel piss.

Eph February 3, 2014I received a Platinum American Express card from Fidelity with no annual fee and 2%back on all purchases. This has served me well over the years and I have nevercarried a balance, so I have no idea what the APR is. The catch is that you need aFidelity Brokerage account, which I opened with $10. The cash back for the month isdeposited into the Fidelity account. The day it is deposited, I electronically transfer itto my credit union checking account. At times the monthly cash back has been over$450. It is probably too good to last.

Previously I had a Platinum Visa from Schwab with the same conditions, but Schwabended it and is now using the one mentioned above with 1% back on everything, 2%gas, etc. I don't use it because it is easier with the Amex, unless someone doesn'ttake Amex.

Gerard February 3, 2014The part of the whole mess that I don't like is that much of our economy is based onconsumer debt. Those banks are loaning money at a markup of sometimes 1,500 %.They borrow money at about 2% and loan to us at 25% and we are banging the doorsdown to get it. That's outrageous. No other product in the world that I can think of ismarked up like that. Even illicit drugs don't have that kind of markup. I don't like when arestaurant marks up a bottle of wine more than 200%. At 250% I won't buy it. And yetmy credit card at 9.9% fixed is a great deal.It all makes me wonder where it ends. The U.S. as a whole owes roughly 870BILLION dollars in credit card debt. Divide that by the population of 300,000,000 andyou have an average credit card debt of $2750 for every man, woman, AND CHILD.At 3.5 people per household, it's $9600 per household. Unsecured debt.

I believe if this great country ever falls, it will be an economic collapse. That's wherewe are most vulnerable.

Tony February 4, 2014Credit cards are useful if they are used like a check book and all bills covered at theend of the month. But it is interesting to think that the people who wrote that thesecards provide money back or double miles are not really taken out of you ownspending. Now if you pay for gas with a credit card a stations charges you more thanthe 3% to use it. If the rebates keep going up, most stores who are charged thosefees will need to increase their prices to cover the cost or start to price thing in theirstore "Cash Price Credit card price! Simple there is no free lunch!

Paul S. February 5, 2014


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If you can't pay cash for it, you don't really need it!

joe February 6, 2014The original point is well made. In short the cost of these fees and the rewards theygenerate for a segment of the consumer market is spread over the entire market. Thecost associated with the use of credit and debit cards is not paid in full by the user,but rather by the entire population, and this is inherently unfair. In many countriesevery store has two prices listed. One for credit and one for cash. This puts thefinancial burden of using the cards on the person who actually uses it. This is a muchfairer practice as it allows those that are willing to pay more for convenience to do so,without forcing everyone else to pay a part of the cost of services rendered to astranger.

Ed February 7, 2014I almost exclusively use my Amex Plantinum Card, why because Amex service tocustomers is the best. I pay my bill every month, no interest, no late fees. If there isan issue with a purchase they are always there to help. Yearly fee, $450, so what!

Jim February 9, 2014We have used credit cards exclusively for 30 years Never paid a dime in interest norfees . As noted in the introduction to this article these cards are for the people thathave good credit, no the ones that wish the did. Over the years we have receivedthousands of dollars in cash , good or services

Neo February 10, 2014I've made 1400$ in 9 months tax free signing up for and meeting the minimum spendon about 7 credit cards. I pay off my cards online weekly. I'm basically paying 20%less for everything and only buy what I need (food, ,gas, car insurance, etc) there aretons of credit card offers that provide 20% bonus so why dilly dally with 5% cashback. If I won't meet the minimum I buy gift cards for food on discount gift cardwebsites making my meals a total of 30% off. I am Neo in the credit card Matrix.

CJ February 10, 2014What? You people keep mixing different points. Bank don't give you money back onyour purchase from their own money. They charge the business the higher amount. Ifyour bank is touting the new card giving you 4% back! it is not giving the 4% fromtheir profits. It just charges the merchant higher rate plus swipe fees. They make theirmoney regardless. It is the merchant who can't even distinguish between highercharging card that ends up paying for your rebate.This profit made by banks is seperate from profit they make by charge for carrying abalance. It doesn't matter if you carry balance or not. Doesn't matter if you payoffyour bill each month. It makes me mad just reading posts after posts from peoplecomparing paying off their monthly bill vs credit card company making profit both ways. It is just the lowly merchant who can't win with tiny margins to start with. Then youarrogant people who wouldn't do business with merchant who dare to charge for extracost [credit cards can impose these coats without notice] complain about someonewilling bring the issue forward.For all those who think it is ok for credit card companies to make Hugh profit as longas it legal:WAKE THE HELL UP. Do you even know that any bank. For ex Bank ofAmerica. Who's new card 321 being adversited on TV lately is such a card. So youthink that B O A is paying those percentages. No. It is the merchant. Do you evenknow the merchant can't refuse those cards. It is in contract. When the merchant signa contract they tell them oh your rate is going to be 2% with 20 cent per swipe. Butthe customers who wants cash rebate come and swipes the B O A at the restaurantfor example, the restaurant is on the hook for that 3% plus the swipe.You arrogant people don't even realize that if you have bad credit merchant gets to


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pay higher swipe rate. It is call mid qualified. There is nonqualified transactions also.That is even higher cost the Merchant.All you idiots who keep saying I pay my bill and make my money. It is not coming fromthe bank. It is coming from the merchant. It doesn't matter if you carry balance or not.If you do carry balance then they make 27% on top of all these profits. Got it. Shut up

Neo February 11, 2014You mad bro?

Bob February 12, 2014@CJ dude you are smart. And down to the electric companies who charge themerchant for electricity! Down to the greedy landlords that charge merchants rent!Down to the city for charging merchants for water! If merchants weren't charged thesethings they could make more money! CJ you are so smart!

The Bankster February 12, 2014Winning!

rapidteck February 12, 2014I run a small business we repair, upgrade, advise, and install computers networks etcfor small businesses and residential customers primarily. In general we accept cash,credit, or debit cards as well. However; we also charge about 50 percent of what allbigbox providers charge, we work out of one location, and if you use a card both taxand a fee are charged automatically.

The customer is advised of this prior to and at time of purchase so if they want to usethis convenience they knowingly pay for it 100%. The thing here is if you use the bigbusiness you pay considerably more, the technician/engineers know less in general,and are also required to use a corporate pricing scheme that truly rips the customeroff and does almost nothing for them. Just to let you know about a quarter of myrepairs that are caused by a third party are when people thought they were going toan establishment where there BUY would be the BEST. Little did they know the geeksthat work there (that know what they're told to know) versus the geeks that work here(that know what they know personally ) are a much better bet for the best buy, plusany company that makes any component provides a warranty. The place where youthink your Buy is going to be the Best uses these warranties as well they just do nottell you they do and they have stock to offset it. So they change out your part andthen do a bulk return from all their stores quarterly and long after the fact where youpaid them roughly 400% what that part cost them for it's replacement then therereimbursed through company to company credits.

I also use credit and debit cards but on my credit cards that balance is paid 100%every month on all 3 and I pay no interest but get the benefits of coverage if there isan issue or return situation and get my points on each of them.

I also use debit so I do not have any payment due on things like groceries. On mydebits the transactions come straight out of my account (I have 2 debits 1 forpersonal and 1 for business) and then 3 credit cards, 1 with my personal credit unionand then a Chase platinum visa and one platinum discover, I will also be getting aplatinum mastercard soon and maybe a American Express affiliated with COSTCO, Iget all my gas if possible at COSTCO (which is generally 3 cents to 11 cents cheaperper gallon than anywhere else( SAM'S and BJ's Wholesale do this as well).

My reasoning for these other cards are simple I will receive further discounts atCOSTCO through exclusive points these cards offer only on purchases there givingme more back on my gas as well as quantity items I buy for home and businessthrough them. With the Mastercard I will have one from each Major credit cardsystem's thereby further raising my credit.


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The other thing on my credit cards I use each for a small purchase each month and if Iam buying anything (such as the Vacuum I just bought and had to return) if I think inany way there could be a return or a rental car hotel room etc (something it wouldcover me on if t

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