Which is the best credit card to have?

I know you can shop around on interest repayments, but what about when you factor other things into account such as points systems and discount bonuses you get with some cards?

I think it's just the interest rate. I remember credit cards used to be around 20% APR and above, but nowadays they're usually nearer half.

Remember the credit rate applies if you don't plan to pay off your credit card on a monthly basis. Otherwise, any reputable credit card is worth itself for the consumer protections, but do watch out for some arrangements that offer you a little extra. I think there were a few offering points and vouchers a while back, which may applea to people using the shops and services they could be redeemed against.

I still swear by American Express because it must be paid off monthly and their consumer protection program is excellent!

You really need to shop around on interest rates because this is where the companies can really get you if you're not careful. Forget free transfers and just look at the normal non-promotional interest rate because that's the figure you're really going to have to fight with.

Depends on how you use it. A high rate is fine if you always pay the balance off in fu;ll every month. If not go with a lower interest rate. Bankrate has some great articles on this topic.

What about the incentive plans - the cash back and such. I know I got excited that there was a back putting money into savings accounts everytime you used your credit card. It took me about 10 times of seeing the commercial before I finally figured out that they were just rounding up the charge to the nearest dollar and putting THAT money into your savings, not their money.

Now I'm thinking about getting a card that gives cash back on gas purchases - my husband drives alot. Are these incentive type cards any good?

Honestly I don't pay much attention to any of the other things--only the interest rate.

Cash back and rewards programs come at a price. You pay for them with higher interest and fees. The only way to make a rewards program work is to pay it back every month.

Credit cards should always be paid back each month, otherwise you are not using your money wisely. The interest rate on a credit card is going to be higher than even a personalized unsecured loan from the bank.

When shopping for a credit card, the interest rate should not even be an issue. Look at what else they offer and choose that way.