Best Credit Cards of 2008

[wmarat]

http://finance.yahoo.com/banking-budgeting/article/106170/Best-Credit-Cards-of-2008

[haulingthescoreup]

Wow, down to four, huh? And from the list of usual suspects.

Interesting how they don't consider credit unions and CU-like entities, like USAA.

[athensguy]

There are also some cards that have opening promotions that are great, like the Citi Driver's Edge or Citi Platinum Amex. I'd rather have a Penfed Cash Back card than a Blue Cash.

I have a BP Visa, but I just converted to it and haven't even received the replacement card. I think it's a halfway decent card (2% back on sit-down restaurants, too).

[wmarat]

Indeed, all those "Best Cards" lists never include CU cards, which is very unfair.

[Anonymous]

OK, that link just brings me up a tantalizing Yahoo News page with no actual story on it, just a big load of blankness. What are these top cards, then?

My Blue Cash really would be the card of my dreams if it weren't for the fact that AmEx have, as we all know, gone all mental, and may well cancel the account due to my having the wrong number of letters in my name or being the wrong astrological sign before I even get to claim the rebate.  

[Scamp]

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@Anonymous wrote:

OK, that link just brings me up a tantalizing Yahoo News page with no actual story on it, just a big load of blankness. What are these top cards, then?

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From the article:

"American Express Blue Cash

Earn a hefty 5% rebate on gas, groceries and drugstore purchases, plus 1.5% on everything else, once you reach a $6,500 spending threshold with this card. Until then, you receive 1% on those everyday purchases and 0.5% on whatever else you buy. You could save $580 on annual charges of $22,630.

BP Visa

This card from Chase will lower your annual bill by about $490 if you spend $2,900 on BP gas and $19,700 on everything else. For the first 60 days, you receive a 10% BP rebate; 4% on airfare, dining, lodging and car rentals; and 2% on everything else; after that, the rebate is cut in half.

Simmons First Visa Platinum Travel Rewards

Earn one point per dollar spent with this no-fee card and use the rewards for free plane tickets, hotel stays, restaurant meals or car rentals. You need only 22,000 points for a coach ticket, worth up to $325, to any destination within the 48 contiguous states.

Wells Fargo Prime Rate

Cardholders who carry a monthly balance will appreciate this card for its 5% interest rate and $19 annual fee. The rate will never exceed prime, the rate at which banks lend to their best customers. Free alerts remind you when your bill is due and notify you if you're approaching your credit limit."

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@Anonymous wrote:

My Blue Cash really would be the card of my dreams if it weren't for the fact that AmEx have, as we all know, gone all mental, and may well cancel the account due to my having the wrong number of letters in my name or being the wrong astrological sign before I even get to claim the rebate.  

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[Anonymous]

Its probably because many CU's have restrictive membership policies and the article writers are too lazy too look for backdoor associations that will allow you to become a member.

[Anonymous]

I got my Citi Platinum card last year 11/07.  They offered my 0% on balance transfers.  So I transferred some money to the card and never used it for purchases.  I paid the balance off by 06/08.  Fast forward to 11/08 and they offered me six months of 0% interest on balance transfers.  So I did another balance transfer.  When all is said and done they will have given me 18 months of 0% interest.   

My ficos range from 717 to 763...no negative info on my reports. 

[Anonymous]

One thing not mentioned in the article is that the 5% in blue-cash ONLY APPLIES AFTER YOU SPEND $6000 IN ANY GIVEN YEAR. With Discover "More" card it is $3000, AND with Discover you are required to "sign up" to get 5% for any given merchant.   Otherwise the default cash back is 1% *after* you reach $3000 annually.

Read the following small-print from the Blue Cash application page on americanexpress.com :

https://www201.americanexpress.com/cards/Applyfservlet?csi=67/31720/b/10/&btct=XP1:cardtype67

I Your Rebate is awarded ANNUALLY for each Rebate Year (12 consecutive billing periods). Rebate percentages for each Rebate Year are as follows:
Year to Date Purchases Cash Back on Everyday Purchases* Cash Back on All Other Purchases

$0-$6,500 1.0% 0.5%

$6,500.01 or more 5.0% 1.5%

* "Everyday Purchases" are Eligible Purchases made at U.S. supermarkets, gas stations and drugstores, in each case that are not departments of superstores or warehouse clubs. "Eligible Purchases" are charges to your account for goods or services that have not been returned or otherwise credited to your account. Eligible Purchases do not include Finance Charges, fees, Cash Advances or other means of accessing your account, convenience checks, Balance Transfers, or the purchase of American Express®Travelers Cheques and American Express® Gift Cheques or other cash equivalents. Additional terms and conditions apply.

[Anonymous]

$0.00 i had to file chapter 7 two years ago, since then i pay for everything in cash.