STYLETHREAD -- LET'S TALK SHOP!

ladysi78250 · Dooney & Bourke

Credit cards

lsubatgirl · Gucci

I have a Discover card and its ok. I don't carry a balance on it so I don't keep up with interest rates and fees but I've never had a problem with them in the 5 years I've had the card. I had one disputed charge and they took care of it in 24 hours. They have a cash back incentive where you earn a certain percent back based on your purchases and it really adds up for my parents. My card just was upgraded to platnium status so I can start earning the cash back.

I've started looking into other cards too since not everyone takes a Discover Card and I've been interested in Capital One since their ads are so funny. I've also done quite a few evaluations online for CitiBank and their cards offer incentive rewards so you might want to check them out if you want rewards vs cash back.

Prissy · Dooney & Bourke

Check out www.bankrate.com.

crystal · Kate Spade

i agree w/ Prissy, that site is very informative. i have citibank, chase, and bankone (which are merged so i think i'll cancel bankone). i like citibank, had them since i was 18 (student MC) then got upgraded fairly quickly to regular then platinum (u should see if ur studend MC will do that). i have a huge credit limit since i've been w/ them so long (5 yrs) but my chase card has an even higher limit since i have a real job now and applied for it after i got the job. whether or not u'll qualify for cards depends on ur credit score which u can now get for free (ur report, not ur score, but the score is only $5 or so), i forget the site, but google the topic & i'm sure u'll find out. be careful w/ ur credit, read all u can online... not to sound too motherly, i'm just in some debt myself

but pretty close to getting out due to careful planning and monitoring of my credit. i can even finance my own car!!

dc · Dooney & Bourke

Personally, I only use American Express (besides NM and saks, of coruse - but those I always pay off as quickly as possible). I like that I am forced to be responsible b/c you have to pay it off each month... in the past, I have learned that Visa and MC are not for me because you can carry a balance... and carry a balance I did! I paid them off with a home equity line on my last home and have not looked back since. I do not miss them - tear up every visa offer I get. No incentives program is worth a mountain of debt.

Anyway, AX offers rewards as well. I have like 60,000 points right now, which is about 2 airline tickets - yay! They love me. I just got upgraded to Platinum.

esquiress · Marc Jacobs

dc, tell me more about AMEX--i think i may want one. right now i just use a visa that i've had since college and pay it off every month but it doesn't have any rewards or anything. how does AMEX work?

dc · Dooney & Bourke

Hi Esquiress - How American Express works is that every month you have to pay your balance or you're in default of your card agreement and they won't let you charge any more! LOL... (they do have an option where you can select certain purchases to pay over time, but I am not getting into that) There is no preset limit, which is nice, and in their rewards program you get a point for each dollar spent and 2 points on things like groceries and gas. I actually use Amex a lot like cash (I use very little actual cash... mainly only use bills for little things like starbucks or taxis) , so I get lots of points - I just budget a certain amount of my $$ every month to pay Amex and then I don't go above that (I budget more if I know I am getting a tax refund or some kind of bonus... so instead of writing checks or using my debit card to spend the $$ from those windfalls, I use amex for the points and then pay it off right away).

With certain levels of Amex, you pay extra for the reward program - I think there is a $40 a year fee. But gold rewards and platinum - I am fairly sure - don't have an annual fee to get rewards.

HTH!