Credit cards?

Spunky · by **Spunky** on Sat Apr 07, 2012 11:23 am

Would like to get a credit card just to build up my credit. Our family has gone without one for years but think it would be handy to make online purchases, etc. I wouldn't be using it often enough to want to collect any points or airmiles. Have considered a prepaid credit card for online purchases since I dont need a large amount but that doesnt really help me build credit history. Any recommendations?

camrose · by **camrose** on Sat Apr 07, 2012 11:42 am

I like my MBNA mastercard. No fees, no points but pays back a cash reward - 1% on all purchases and 3% on gas/groceries.

mel_torme_fan · by **mel_torme_fan** on Sat Apr 07, 2012 12:31 pm

Vancity Enviro Visa has been my CC of choice for many years.

You can opt out of the reward points and pay a much cheaper interest rate.
I think it's around 11%?

MH.Mom · by **MH.Mom** on Sat Apr 07, 2012 1:25 pm

I have a gaurantee'd MasterCard through capitalone and have never had any issues. The interest is 11% but I never carry a balance so I'm not sure if it's considered high interest. Good luck for finding one. We also use a TD travel visa for the travel points

luckymamato2 · by **luckymamato2** on Sat Apr 07, 2012 2:58 pm

I have a CIBC visa, an MBNA mastercard and a President's Choice Mastercard and I don't pay an annual fee on any of them. But if you are looking for one with a low interest rate then they are all around 20% (not good if you are going to be carrying a balance for a while).

by T on Sat Apr 07, 2012 3:03 pm

My Capital One card has an interest rate of about 6%. Really hard to beat that on a credit card. No bells, whistles, points or anything like that but it suits me just fine.

koleanddylansmom · by **koleanddylansmom** on Sat Apr 07, 2012 5:01 pm

our capital one is 5% hard to beat that interest rate...

Spunky · by **Spunky** on Sun Apr 08, 2012 7:04 am

Thank-you for all the information. It seems capital one is very popular with very low interest rates. Someone told me that the guaranteed credit card is for people who have bad credit but my question there is how can you get a credit card if you have bad credit? Is it possible to only get a limit of say $200 or is the minimim always $500?

crazycat · by **crazycat** on Sun Apr 08, 2012 9:11 pm

We have capital one at 5.99%. We also have MBNA at 6.99%, however they have recently sent a letter saying they have been bought out by TD bank and to show there appreciation they are jacking up the rate by 3%. Not a good move in my book.

mel_torme_fan · by **mel_torme_fan** on Mon Apr 09, 2012 4:26 am

crazycat wrote:We have capital one at 5.99%. We also have MBNA at 6.99%, however they have recently sent a letter saying they have been bought out by TD bank and to show there appreciation they are jacking up the rate by 3%. Not a good move in my book.

That shows the difference between a credit union and traditional bank. All about profit.
Credit unions are owned by you the member.

debbiel · by **debbiel** on Mon Apr 09, 2012 4:13 pm

I don't carry balances on my cards so the interest rates are irrelevant to me. I have a CIBC Dividend Visa, Alaska Airlines MBNA Mastercard, and a Capital One (the 5.99% one others mentioned). If I were to choose to carry a balance on a card it would be that one. I don't think they offer it anymore though (it is 5.99% for life).