About to purchase a truck. Emergency credit card question.

IMO, get the secured card and build credit WITH YOUR INSTITUTION. Capital One is not a great card. Yes, your limit will be lower, but that's ok. Buy little stuff, pay it off. Rinse/repeat for about 6 months. Call the institution and ask them to raise the limit.

 

Are you incorporating or starting an LLC? If so, you'll want the card in the company's name to build business credit. You'll personally guarantee it anyway, so you'll get personal credit as well. Get the C1 card, and put all of your expenses each month on it, and pay it off each month. It will be far easier to track what you spend and see the true cost of being OTR. If your bank won't give you an unsecured card, I doubt C1 is going to give you that big of a limit in the beginning. All of this advice is based on the assumption you are financially responsible.

 

There is the KEY frase "financially responsible". I've had good luck with C1. I only use the card for road calls, or when i'm not at Stoops, which thankfully it's not often. You'll figure out what works best for you. I have faith....

 

What the heck is a secured credit card? Is that where you put money in a account to secure a credit card and they charge you a fee dont make since to me when you can just open a account and they will give you a visa/debit card. As far as credit cards shop around get a few and play them against each other. Credit card companies are feeling the pressure and trying to get new business. I have about 8 major credit cards only 2 have a balance next month I will call them and ask them to lower the rates if not I will transfer the balance to another card with lower rates. every once in a while I will have one call and ask what can they do to get me to use their card tell them to lower the rates so far I have cards with 0-8% but thats about the lowest they will ever go you can call and get them to give you a 6 month 0% int. no fee transfer. But always stay with major banks dont get the little what I call second hand credit cards where one bank issue the card but it is backed by another bank thats those 13-23% int rate cards where you are accually paying int. to two different banks and you will never get the rates reduced. But dont pay Russell Simmons or anyone to use you own money because they make money off your deposit and then charge you if you want to use like you getting a loan from them

 

What is the best card to have that offers a low interest rate. I mean below 10%. I have one that is in the 8% for all purchases all the time and then I have a Discover Card that is just over 10%. I pay them off every month so it really doesn't matter but Discover does give me 5% back.

 

More often than not you'll always get better rates or credit cards with a local credit union. Stay away from the big boys Bank of America, Suntrust, etc. Credit unions also don't nickel and dime you to death with stupid fees with everything with regards to your checking/savings accounts. I don't have any fees for anything with my credit union. Only one requirement, keep a minimum of $5 in the savings account. I can also e-pay all my bills and if they aren't set up with the utility or whoever to do the money transfer electronically they will mail out a check and it doesn't even cost me postage. Credit unions trounce all over banks "service" imo.

 

Banks are owned by shareholders and all profits go to them. Credit Unions are owned by the customers, and while you get no profits in the form of cash, the profits from a credit union go back into the credit union and get returned to you the customer in the form of better rates on auto loans, mortgages and in general better services. Banks suck, especially the big bailout banks!!! Eff those bastages!!

 

Despite what all the have 90k in cash folks say. You'll need a credit card for a multitude of things. Any re occurring bill payment. Credit cards are the way to go. Debit is nice too. But like this week my business account was compromised. Needless to say over a grand later and who knows how many racked up isf fees, it will take my bank a good week or more to sort this all out. Guess what. I am out my money until I get proven innocent. So you'll need a unsecured credit card to make purchases out on the road. I will never again use my debit card.

 

So Sorry to hear this. I hope you still are able to have and be home for a good Christmas.

 

Oh yeah. Christmas shopping was done a long time ago. I just get aggrevated when all these guys say use a debit card blah blah blah. As long as you pay off your credit card each month you won't assess any intrest. The key is to be sure and pay it off each month in full.