Hello everybody. I've never had a credit card up until recently. Most of my credit before bankruptcy was built paying car loans and mortgages off.
It's been two years since BR. I went to Fry's electronics to buy a new Computer with no intentions of getting a credit card. But as usual the salesman convinced me to apply for the fry's electronics credit card. I was approved for a $2,000 limit. I asked him what the interest rate was on that card. He said 26%. I said are you kidding me? He said that's just the standard interest rate on a retail store credit card.
So I paid the $1,950 computer off hitting it with $500 a month payments and paid it off quickly.
I still knew that I needed to get a regular major credit card. So I went to my bank (WellsFargo) and applied for a Visa card. I was approved. So they sent me a Visa college cash back card with a starting limit of $700. So I plan to use it for gas and groceries and of course just pay the bill when it comes in immediatly. The card has 3% cash back on gas groceries and drug store purchases.
My question is should I eventually get a credit card like an American express Blue cash card later on or just keep the college card I've read up on the top 10 credit cards to have and of course they all have their strengths and weaknesses. Since I don't travel much I don't really need airline miles. Cash back works for me. Would like to here suggestions from people more versed in the credit card game than me so that I can get the maximum benifit out of the cards. Thanks Rick.