Best Credit Card

[Tinker'n'Fun]

Dh and I are going to apply for a credit card to make renting our vehicle for our upcoming trip easier. We do not plan on keeping it.

Any credit cards you would recommend? And would you keep it for a year, or just close it like we plan on doing. We have an average credit score, and just choose not to have a credit card. We usually use cash or debit card, but some of the car companies really prefer the credit cards and give better rates and specials.

We also bought an entertainment book to see if any of those coupons would be useful.

 

[MAH4546]

An American Express Zync charge card. It's like a credit card in every single way, shape or form, except for one: you have no choice but to pay the bill in full at the end of the month.

So you won't be tempted like a debit card, but you enjoy the protection of a credit card; plus its considered a credit card for credit score reports, etc.

 

[Purseval]

If you can still get it and there is an airport nearby that they go to I'd go for the Southwest card. It's $60 but you get 2 free round trip tickets so you could fly to orlando for free. After a year tell them you don't want to pay for a credit card and cancel it.

 

[Jessica527]

I would recommend the Disney Visa, why not earn rewards? I would not open and close it right away though or even after a year. It hurts your credit score to do that.

 

[Purseval]

I would recommend the Disney Visa, why not earn rewards? I would not open and close it right away though or even after a year. It hurts your credit score to do that.

With a Disney rewards Visa you either have to get lucky with a promotion (my wife just got a $200 gift card for applying) or spend a lot of money to make it worth your while since you only get 1 reward dollar for each hundred dollars you spend. To put that into perspective we had to spend 15 thousand dollars to pay for our last meal at Fulton's Crab House. Since they don't normally use credit cards and plan on canceling it anyway it's unlikely they would get much in the way of benefits.

If they have an average credit score now, get a card, pay their bills on time and cancel it they will still have an average or better than average score (due to a record of timely payments) after they cancel. The hit for canceling a card is minimal.

 

[Jessica527]

I agree yet disagree. I have a degree in accounting and finance, with a focus in my senior thesis on credit and its challenges. It will actually hurt your credit score for opening and close the card in such a short amount of time. When talking with my client, I always recommend to do what you said, however I also recommend they keep the card for emergencies. This is as long as the card does not have a annual charge or any other charges throughout the year.

If you want to learn more about how it could harm your credit, there is a lot of literature available on both government treasury websites as well as your local credit union.

To OP, I just recommend getting a card that works for you and you would consider keeping for emergencies or needs in the future. If you need it for a rental car now, are you sure you won't need it for one in a year or two as well?

OP if you want more information, PM me

I appreciate the feedback.

 

[Jessica527]

OP Thanks for the PM. I wrote back Looking forward to talking to you this evening!

 

[SnowWhite12]

I love my Disney rewards card! We earn about $400 a year to use toward our Disney trips.

 

[elainesj]

If you're not using it much, get the one with no annual fee and the best bonus possible.

Might as well get a freebie while you're at it