June 10th, 2008, 08:15 PM
Credit Card Suggestions? (Cabela's)
Looking at getting a credit card to help my credit score. (Yeah, I know it can ruin it too.) The plan is that all it will be used for is gas at the pumps and it's balance paid in full each month. SOOO interest rates are that key of feature...besides, without the high credit score I'm not going to get a real low-rate card.
I'm looking at Cabela's card. Anyone have suggestions? There have been a few others I've ran across that seemed like a good deal but can't recall which ones they were. (I seem to get an other every other week.) I really don't spend more than $1-200 a year at Cabelas so that particular incentive is minimized.
Remember, I'm a college student that really has little to none credit built up (or so I believe, I haven't actually checked yet) so that really narrows down the selection.
June 10th, 2008, 08:19 PM
I'm a big fan of rewards cards. I used to use Bass Pro card more than any but due to Cabelas being more 'hunter' oriented I switched about a year ago and solely use the cabelas card now unless I am buying something from BP. If you buy quite a bit of hunting gear I think the Cabelas card is the ONLY way to go!
June 10th, 2008, 08:29 PM
with gas prices where they are that BP visa gives you 10% back in gas cards for the first 60 days and 5 % after that. At 4.00 a gallon that will give you back .20 a gallon even after the 60 day promo.
Calling an illegal alien an 'undocumented immigrant' is like calling a drug dealer an 'unlicensed pharmacist'
June 10th, 2008, 09:24 PM
Having a credit will help to improve your credit score the most if you pay it off in full each month. Also if you do plan to pay off in full each month you will not pay any interest.
I actually process credit card applications for a bank so if you have any questions feel free to pm me with any questions.
Best of luck
June 10th, 2008, 11:51 PM
If you do any traveling, get a frequent flyer card for american or united. We use our American Citibank card for all of our day to day purchases, then just pay it off each month. Allows us to take 4 or 5 trips with free airfare each year. Have a United card for the business that we buy all of our supplies with. Flew the office staff to Cancun last year with free airfare.
June 11th, 2008, 11:46 AM
For anyone that has a Cabela's card:
I'm interested in paying all my bills possible with a Cabela's card; do they offer some kind of online bill pay functionality with it?
June 11th, 2008, 11:50 AM
Cabela's card is great and also get a Miles One reward card from Capital One..build up those flight miles to go on that hunting/fishing trip. I use both
June 11th, 2008, 02:08 PM
I use a discover card with 5% cash back on gas...which you can double in the form of a Cabelas gift card...
June 11th, 2008, 03:25 PM
If you get a Cabela's card
I have a list of stuff I really need.
June 11th, 2008, 04:02 PM
Not necessarily true... Carrying no balance month to month will not help your score so much as carrying between 20-80% of the total credit line on the card.
Originally Posted by mtnrunner260
Over 80% they consider to be a liability and less than 20% they never make any money on you (because with most cards you dont pay any interest). Paying a little interest can be a good thing.
Another way to help your credit... Do you have a cell phone in your name? Also its better to have no credit than to have bad credit, you are what those of us in the credit industry like to call a "ghost".
June 11th, 2008, 04:14 PM
My wife and I have two "fuel" credit cards...BP and Super America. We have one Visa card, A lowe's card and a Tractor Supply card. That is it. We too reject cards about every week or ten days. The credit card companies over pushing and pushing toward people who will inevitabely default is one reason why we're in such a bad crunch. Don't get too many credit cards, as that will hurt your credit rating as well. I used to (before I paid the balance down) transfer to a new card all the time shifting to lower interest rates, but it's better to just keep the balance paid off each month, if you can. Plastic = big temptation to spend more than you can afford. Be on your toes. Good luck.
June 11th, 2008, 04:21 PM
I disagree wit the 80% number. 20% will not hurt you, but the higher balances will. A low balance on your cards represents a responsible use of credit. A high balance shows that your spending has outpaced your ability to pay money back. Use it and pay it down...you want to show a consistant reliable history in using your credit wisely. The amount you owe counts almost as much as your payment history in calculating your score.
Originally Posted by promod1385
June 11th, 2008, 04:35 PM
I am sorry but I have to put my 2 cent in this:
1. You need to have credit cards (credit cards not a credit card)
You need more then one incase the one you are using rate jacks you for no reason... so you can cancel it and use the others.
2. You need not use more then 35% of your avaible credit on ANY given credit card to get the highest FICO scores. You can max it out but you better pay it down before the reporting date to the Credit Bearue (Transuion, Equifax, and Experian)
3. Reward cards are always higher interest rate. (Only get these cards such as a Cabelas, Bass Pro if you plan on paying it in full or almost the whole balance every month.)
4. If you want to carry a balance better do some credit card searching just like you do testing of bows... find one that will give you 6.99% to 9.99% fixed rate.
5. Check your credit report, fixed what is not right on it before applying for credit cards. If you got the extra cash get your FICO score NOT YOUR FAKO score and see where you stand as what credit card you can get approve for.
6. If you want to get a credit card or mutilpe credit card, do it in a one time application spree... Meaning do your research and apply for the cards you want all in one day, so that the inquiries and new account does not hurt your credit score to get a better interest rate.
I can write a book about credit but who would read it. Remember one thing in this time and age YOUR CREDIT SCORE those 3 little numbers will determind if you get a certain job, your insurance rates, if you can rent an apartment....etc
If anyone is wanting any help in this department just shoot me a PM...
I have helped many clean up their credit and got them on a straighten path and how to understand using their credit to benefit them instead of against them.
You want a 12 on that target? FOLLOW MY ARROW!!! >>--
Teach your kids how to Hunt and you Never have to Hunt for your kids...
June 11th, 2008, 06:52 PM
Intrest Rates too high with Cabelas
especially if you are trying to 'fix' your credit. Cabelas will nail you with max interest rate on their card for carrying a balance.
You really should not "fix" credit but getting further in debt!!
Reduce the debt you have that will raise your score.
Nuke cards as you get the balance paid off. Carry as few, if any pnce they are paid off.
Once out of the woods get American Express instead. If you treat every charge like you just wrote a check and deducted the amount AmEx will bill you, then that will also increase your score; gives you better buyer protection than cash or check; and they have a reward system "Membership rewards" not so hot i.e. for every $10,000 you spend you can request a catalog gift or a $100 AmEx travelers check.
June 11th, 2008, 07:55 PM
Two words... Dave Ramsey.
I don't need credit cards because I have the money to pay cash for everything I buy. I don't even own a credit card, no use for them. Get a debit card and save your hard earned money.
June 11th, 2008, 09:38 PM
I have a debit, use regularly...more than cash for sure.
I'm certainly not trying to "fix" my credit....I'm trying to become a non-"ghost" as someone put it.
I'll sit on the idea and keep searching. I can't imagine I'll keep any more than 20% on the balance. I don't want to keep anything on the balance (1. Just not my style 2. I value my sleep way too much 3. I have more than one buddy who's screwed their pooch with credit cards)
June 12th, 2008, 12:06 AM
Rewards cards man, my card which is a Citi Professional gives me 3x's points on gas purchases. So I use it mainly for gas and other spur of the moment items. Plus no need to worry about your interest rate as long as you pay it off every month like I do! And it's a great way to boost your credit score. Just be resonsible. It can easily make or break a man!
June 12th, 2008, 12:27 AM
I could be wrong... I work in the industry and have sat through countless meetings with reps from all of the major bureaus. (TransUnion especially). I have always been told that carrying "some balance" is a good thing so long that is does not exceed 80% of the total credit line available to you.
Originally Posted by fastlambretta
As far as speaking about "The amount you owe counts almost as much as your payment history in calculating your score." Debt to income ratio is no doubt one of the largest factors in determining your score but can be repaired much faster if you slip and carry a little extra balance for a couple months. As opposed to have a weak payment history or delinquencies which can take you years to recover from.
June 12th, 2008, 12:29 AM
Thats an old school mind set... Having a good credit score can save you much money in the long run by way of better interest rates on mortgages or autos should you choose to finance them (as most people do these days).
Originally Posted by Corona
June 12th, 2008, 10:12 AM
Agreed the best credit card is the one you don't have.
Originally Posted by Corona
June 16th, 2008, 09:16 PM
Beware of Intrest rates
carry 20% balance on your line of credit? Do the math:
Originally Posted by Soilarch
You want to calculate the interest on $500 at 30% interest per year after 12 month(s).
The formula we'll use for this is the simple interest formula, or:
P is the principal amount, $500.00.
r is the interest rate, 30% per year, or in decimal form, 30/100=0.3.
t is the time involved, 12....month(s) time periods.
Since your interest rate is "per year" and you gave your time interval in "month(s)" we need to convert your time interval into "year" as well.
Do this by dividing your time, 12- month(s), by 12, since there's 12 months in 1 year.
So, t is 1....year time periods.
To find the simple interest, we multiply 500 × 0.3 × 1 to get that:
The interest is: $150.00
Usually now, the interest is added onto the principal to figure some new amount after 12 month(s),
or 500.00 + 150.00 = 650.00. For example:
If you borrowed the $500.00, you would now owe $650.00
If you loaned someone $500.00, you would now be due $650.00
If owned something, like a $500.00 bond, it would be worth $650.00 now.
I would rather be on the positive side of that equation!!!!!
June 16th, 2008, 09:30 PM
Originally Posted by Corona
I agree with this guy.
A FICO score is an I love debt score.
The average American household with at least one credit card has credit card debt of close to $10,000.
Why be average? Be Weird!!
June 17th, 2008, 08:40 PM
you need a credit card. most folks cant pay cash for a house or a car, so you may as well start building a good credit history.
i think you need to run up the balance a bit, then pay it off. do not get in over your head. paying off balances, CC, school loans, car loans, is the ticket to a great FICO score. one day, you will want a house. you need a good FICO. no credit is as bad a bad credit.
#1 Elite Energy 35
June 17th, 2008, 08:44 PM
sorry, i didnt answer the question. there are websites that rank credit cards. google one of them. dont go looking for a cabelas card just because you hunt. there are other more important benefits to look for. you can limit your own credit. my first credit card, i asked them to give me a $300 dollar limit. i figured i couldnt dig that deep a hole set up this way.
my wife and i are in a FICO contest. she is barely beating me, and we are both almost perfect. a good FICO score is good thing.
#1 Elite Energy 35
June 18th, 2008, 02:39 AM
check out consumer reports online and other google searches for best cards for you. I recently got Capital One card. Some of the big guys can offer nice terms and incentives.
asking here is a good start...but keep searching
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