December 9th, 2007

vantid

Change of tune for credit cards

I found this article ranting about "attractive" credit cards to be quite amusing reading when followed by this article by the same author just a year and a half later.

Of course, both of them are thinly-veiled advertisements for the Fool's own credit cards. Admittedly, they do look cool (particularly the MasterCard), but I prefer getting something back with my Amazon VISA card. I funnel all of my payments through that, even when paying through PayPal, and get $25 gift certificates every few months. It looks pretty sweet, too - and the credit limit was surprisingly high (predictably the interest rate is, too, but I pay it off each month). Guess they want to make space for your Christmas shopping - on that note, anyone want to buy me a Pleo? ;-)

The best part is my original credit card provider - who my bank had to pester to even give me a $1000 limit at 22% - figured out I'd stopped using their no-reward, high-interest card, and almost doubled my limit . . . which they'd more than doubled just six months ago. Actually, on second thought, that's not the best part - the rewards are. Still, it's a nice bonus!

The higher limit won't make me use the card any more than I already do - though I'll probably make quarterly payments on it keep it being reported - but it will help lower the debt to credit ratio, which is a big issue for lenders. This is useful because I don't generally bother to pay my balances before due to increase my score.
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