Financial Tip: Credit Card Deal #1

One mistake I did while in college is not have a credit card in my own name. During college, I basically tag along on my sister's credit card, which should be just as good as getting my own, right? Well, not exactly. Because I was not the primary owner of the credit card, I got no credit at all. So, few years went by, I was very surprised when I got rejected for a normal credit card. A lesson learned.

Three years later, and I get a bit smarter. My credit is not at zero anymore, and getting a random credit card simply won't do. Currently, there are several credit cards that offer cash backs or rebates, and getting the right one can save yourself some money on the regular expenses. Here are some of the better cash back deals as of January 05, 2008:

1. Blue Cash from American Express - 5% on supermarkets, gas, and drugstores. 1.5% on other purchases. However, your annual spending must be at least $6,500, or you won't get the 5% cash back. This is great for any big spender. More details...
   
2. Citi Professional Cash Card - 3% on restaurants, gas, certain office supply, and certain auto rentals. 1% on all others. This is a good deal for daily usage and Citi has a good of useful online services, although it is a bit harder to get this credit card. More details...
   
3. Chase Freedom Cash Visa Signature Card - 3% on each billing cycle's top three expense categories (there are 15 categories). 1% otherwise. However, the 3% cash back is limited to only $600 of that billing cycle. Anything over would be at back at 1%. This is the best for the big savers, because the cash back coverage is wider than most other +1% cash back cards. More details...

So, there you go. Credit cards that can save you some money, especially with gasoline. But remember, if you can't pay it all off in full every months, then the cash back is not worth it.

Link:
www.AskMeCreditCard.com
www.Bankaholic.com - Best Gas Credit Cards