VIDEO ON MSN MONEY
why a credit card?
why not cash?
it's interesting how consumers are being "sold". financial institutions like to mislead you by having you ask "which credit card" where the question we should be asking ourselves "why a credit card".
When you are debt free, the key things are no-annual-fees and maximum cash-back. I used to prefer paying cash but it's gotten to the point where I pay an average 2% more if I do so. So now I use credit cards whenever possible making sure of TWO things: 1) I always pay the entire statement balance off each month to avoid any interest charges, 2) I check my balance every few days so I'm not shocked at payment time by the total.
In my case, I do more shopping on Amazon than any other single place, including most Christmas presents. So the Amazon Visa, with 3% off (cash-back) Amazon purchases: 2% off: gasoline, restaurant, drugstore (I have a lot of diabetes-related prescriptions), and stationary stores, and 1% off everything else is worthwhile. If I go online to register for it every 3 months, my Discover Card rotates 5% off various things every three months. Through June it's 5% off home improvement stores. For July through Sept, it's 5% off gasoline purchases. And I can apply Discover Card cash-back to Amazon purchases! And linking some online purchases (especially flowers) through Discover gets you up to 20% off.
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