What Credit Card is best for Fulltimers - RV-Dreams Community Forum

Kevin and Janet · RV-Dreams Community Member

What Credit Card is best for Fulltimers

Lucky Mike · RV-Dreams Family Member

I believe in using my debit card only.......credit cards seem to spend money on there own either in interest or micro charges........there are several threads available in the search bar on this subject.

I used to use several gas cards with rewards but I found at the end of the year all the rewards just seemed to be to the finance company after interest and such

Terry and Jo · RV-Dreams Family Member

Another consideration, if you are a veteran, is to look into USAA. They have banking services with card usage and with regards to their ATM service, one would initially be charged a fee, but USAA would then "credit" the member for the fee. Jo and I plan on putting some of our banking over to them when we finally get to traveling instead of being "static" full-timers.

We only have one credit card, and that one happens to be a Discover card. However, it only gets used if there is a major purchase to make. Otherwise, we use our debit cards as well. It helps one to stay less in debt that way. After all, one is less tempted to make a large purchase if one's bank account wouldn't allow it.

Terry

Hdrider · RV-Dreams Family Member

I use Discover. I also pay it off 100% each month so no interest. It gives us a small cash back bonus and at certain times,,, like right now in fact it gives an additional 2% up to $250 between Jan 1st and the 15th. It all helps.

Diane uses a Chase card for her cash back bonus account. I guess in reality we both use them both.

I think my bonus ballance it almost $400 now so when it reaches that amount I'll figure it a free travel month for fuel LOL. It makes me feel better anyway.

VanMar · RV-Dreams Family Member

Hdrider wrote:
I use Discover. I also pay it off 100% each month so no interest.

We're with you on the pay-it-off-every-month thing. Have been for over 20 years. In 1999, we used credits on our GM Mastercard to get $1500 off the price of a new Grand Prix. Then the DW decided she wanted airline miles so we switched to Capital One Visa. It has paid for air flights, car rentals, and hotels.

Vance

RVKevi · RV-Dreams Family Member

We don't like using our debit card because it is too easy to misplace a receipt and not have as much money in the account as we think we do. We pay off our credit card every month. In fact, Kev doesn't like to let the balance get very high, so we often pay it off a couple times a month. So we don't pay any interest. We do get rewards which paid for my kindle and helped pay for a new tv. They're going to help pay for a tablet sometime soon, too. :D

Kountryguy · RV-Dreams Community Member

Bank of America. 1,2 &3 percent cash back. 3 on gas, 2 on groceries and 1 on everything else.

Terry and Jo · RV-Dreams Family Member

Just as an afterthought, what are the interest rates on credit cards that pay cash back? Should one get in a bind where balances couldn't be paid off quickly, what would it cost to get a little cash back. With our debit cards, we get no cash back, but we also pay no interest at all. I didn't detail it in my first post, but our Discover card is primarily for those large NECESSARY purchases that would deplete the checking accounts. (Appliance repair/replacement for example.)

Terry

Jo And Craig · RV-Dreams Family Member

We have a United (previously Continental) card and have had it for many years. We have ALWAYS been impressed with how they look out for us. We pay an annual fee, but it is worth it to us as we get 1 mile for every dollar we spend. Our miles have taken us to Europe several times, as well as other places. Like many others, we pay it off monthly, no matter how much it is. We have not paid one penney in interest since day one. We just don't believe in paying interest! There are cards out there that offer points; however, you only get 1 mile for TWO points. That just doesn't compute in my book. Another thing I like is that I can set up alerts online and I will get either an e-mail or phone call from the company based on the limits I set on my alerts online. I can always go online and review my account as often as possible, and I can pay my bill online, as well. And, there have been instances where a medical provider charged more than they should have and when I ask for a refund (after the claim had cleared my insurance), the provider tells me it will take at least 6 weeks to get MY money back. All I have to do is call my credit card company and dispute the charge. (Disputes can also be performed online.) I have never had a problem getting the amount I overpaid credited back to my account right away. There has been a time or two when my number was stolen and used in the New York area. (Happens all too often these days... unfortunately.) What did the credit card company do? They called me right away because they knew I don't live in New York (thank God!). The card was cancelled immediately and they sent another right away. So, maybe having two cards/accounts would be prudent in the event something like this happens to you. Finally, whenever we travel, we just call our credit card company and let them know where we will be. Not sure how they do it, but they always look out for us... wherever we may be! Like another poster said, I would rather something go wrong with the credit card company's money... not mine! Having an actual credit card is like an insurance policy. I've heard horror stories of people dealing with banks when something like this happens. It's not pretty. And, there is no guarantee you will always get your money back from a bank.

-- Edited by Mary Sunshine on Sunday 6th of January 2013 12:33:53 PM

sdman · RV-Dreams Family Member

I have a personal experience story I tell about the use of debit cards. Like a lot of people when debit cards came out I used it instead of a credit card. At the time we had our pay checks direct deposited and our mortgage directly deducted. Our savings account was also connected to the checking account. So one day I was at our mechanics place to pay and pick up my car from service and I gave them the debit card. The card was declined! I was a little surprised, but sometimes that happens so I used my credit card instead. When I got home I went on line to check the checking account and found we didn't have any balance, $0! I stayed calm and started to check what we spent the money on. As I looked at the charges I found several hotel and gas charges from the southern US. We had not been there! Then it dawned on me, the card number had been stolen!

So after calling the bank they put a freeze on the account. That meant that our checking account could take in money, direct deposit, but we couldn't get access to our cash. Our mortgage payment came back NSF! I called the mortgage company and they suggested I write a check which I couldn't do either. This lasted for 2 weeks. The ironic thing was that for those 2 weeks the charges on the account from the stolen card number kept coming in and being deducted from our account with funds from our new pay checks.

The long and the short of this is that we got our money back and even the mortgage charges were paid and we didn't suffer any negative credit issues. However, we never anymore use a debit card except to get cash from an ATM now. We have 3 credit cards, but use mainly just one and we pay it off each month and sometimes we too pay 2 times a month to ensure it gets paid off. The other 2 cards are for back up if our main card gets lost/stolen or can't be used for some reason which has happened.

We use a credit card for most everything because we want to use the credit cards money and not ours if something happens to the card. If our credit card is stolen, we notify the card company and use another card. We have never paid for any fraud on a credit card including a debit card. We just would rather the fraud be with someone else's money, not ours.

Our suggestion is 2 credit cards, preferably one each from separate card companies (Visa, MasterCard, Discover) as some places only take one or the other. Also have a debit card for cash.

Terry and Jo · RV-Dreams Family Member

Mark and Patty,

That's not a good story. However, we've had our cards hijacked before as well. As soon as we "challenge" the charges done on them, the bank freezes the payments and then issues us new cards. Our account is not frozen, just the payments to those challenged charges and any others to the old cards. We have about 10 days when one of us can't use our card on that account, but all of our money is available to us otherwise. (We have separate card numbers for each account, and any transferring of funds from one account to another is done by us with nothing being automatically withdrawn.)

I guess a person needs to check with their banking facility to see what the normal procedure is for that bank. One other things, our bank has our cards work as a credit card as well as a debit card at the ATM machines. They are talking of changing that to where they are "debit card only," so our PIN number would need to be used to make any transactions other than the ATM.

Terry

Lucky Mike · RV-Dreams Family Member

thats how my debit works..........no pin no transaction.........I also change pin when Im traveling several times .......

PIEERE · RV-Dreams Family Member

Had my debit card since 2007 with the same bank and no problems so far. If something looks suspicious they have called me to verify. That is what I call customer service. My senior account use to be free, but haven't been able to keep a minimum balance since not being able to work. the charge is know $8.oo, just don't seem to make sense.

bjoyce · RV-Dreams Family Member

We find a Chase Freedom card very useful, each quarter they give you 5% for up to $1500 for categories and two of those quarters gas is included and diesel seems to count as gas. Discover has similar deals and their cash back can be used directly on Amazon. Capitol One we like when we go into Canada, they charge the least for foreign transactions and give us 1.5% for gas and groceries anytime. Costco American Express is 3% for gas/diesel, 2% for restaurants and travel and 1% for everything else. We get Amazon and restaurant gift cards in $50 to $100 denominations for our points, those values are normally the best rate for points and dollars. It has been a couple decades since we carried a balance on a credit card so I don't pay much attention to rates, but they keep our limits high and sometimes raise them so we must be good risks. We manage all the cards on the internet and keep a valid email address with them. Many cards send out reward deals you have to activate, for even more rewards. Citibank/AT&T Universal sends them in normal mail and about half the time we get the deal mail after the date to sign up.

Do keep the oldest credit card you own, use it once every six months so they don't cancel you. The oldest card is one measure of your credit, so it counts for things like insurance rates. Don't let them charge you an annual fee if your credit is good, we haven't paid an annual fee since sometime in the 1980s.

You do need to have at least one back up credit card. Sometimes they get excited about two fuel stops in a day when they are in different states, sometimes your number is stolen, sometimes there is a glitch. Most of the time the credit card company calls a few minutes later, but I would rather be on the way then sitting in a truck stop holding up a line of vehicles. Not everyone takes Discover or American Express so you have to have a Visa or MasterCard in reserve.

PIEERE · RV-Dreams Family Member

I always stow a little "Cash Reserve" for the just in case. Carry $50.oo in a pocket, nothing in the wallet! But I have a fantastic hidden spot "easy access" in the RV where I keep a few extra $$$$'s, sometimes.

RickandJanice · RV-Dreams Family Member

Secret is to only charge enough that it can be paid off before any finance charges are incurred. This is what we do. We use a Good Sam Visa for enough of our regular purchases or any lager purchases until we accumulate enough points to pay for the Good Sam Emergency Road Service. Have not had to actually pay for road service for the past 5 years. We also use a Flying J revolving charge card to get the fuel discount when it gets us a better price than neighboring stations in the area , this card requires being paid in full each month. So far both have worked great for us, but we always pay in full within the grace period allowed so we have no finance charges.

Racerguy · RV-Dreams Family Member

I agree with those that prefer using the credit card for the stated reasons.We only used our debit cards once in a while so the bank wouldn't cancel them.(ask me how I found that out).Actually now that we are grounded we still operate that way.We have never let a credit card accumulate interest.I guess it comes down to personal preference and there is no right way or wrong way.As to the OP's original question I would look for the best deal you can get and keep a backup just in case.

Technomadia · RV-Dreams Family Member

Our primary card is the Chase Freedom, and has been for years. We charge everything to it, and pay it off each and every month in full. Not a cent paid in finance charges or fees, but we get about $600/year back in rewards cash. On top of that, we get extra protections - like automatic extended warranties, damage protection, back-up for customer service issues (a vendor won't refund your money in a timely fashion? Then dispute it with the CC company), car rental insurance and concierge service (need to find a dentist quickly in a new town, call them - they'll find one for you and make your appointment).

We keep a Cap1 card as our back-up card, and for international travel for the lower foreign transaction fees. We have some other cards in reserve that get occasional use so they don't go dormant, and are ready to step in - such as when we need to fill the tank and the stupid pump only allows 2-transactions per card.

I consider using a debit card to be very risky, unless you have your cash accounts set up to protect your balances. With a credit card, challenged charges are immediately taken off your liability, and your cash remains untouched. On a debit card, you may face days or weeks of non-access to the funds in question while things are investigated. Stories like sdman's are not uncommon, and I prefer not having my cash balances at greater risk by distributing my debit card or checking account number with every transaction.

And of course, it can be all too easy to forget what transactions you had and run into NSF fees by the time you get around to reconciling your accounts. I personally choose to keep my debit card for ATM use only, to have access to cash. It never gets used for purchases, unless debit/ATM is the only way to pay. And actually, I only keep a small balance in my checking account anyway.

- Cherie

ew9266 · RV-Dreams Community Member

I think it has already been mentioned, you need two cards one as a backup. We were hi-jacked and had to have our card frozen. This almost put us dead in the water since we do everything on our cards and pay them off every month. We were several days using cash only until our new card arrived. We ordered a second card right away and wouldn't go anywhere without our backup. Thank God most Flying J's have ATM's. We put all the maintenance cost and repair bills on our back up so we have a quick reference as to how much we have spent on the rig annually. It makes it easier to prove maintenance if questioned by the extended warranty companies. Hope this helps.

LandYachty · RV-Dreams Family Member

We have four bank account, 2 credit cards and 2 debit cards. All at the same bank (B of A). If a card ever get comprimised (it's happened twice) we move all the money to one of the other accounts until the mess clears up. We can pay any bill online through the bank and haven;t bought any paper checks since 1999. We have done this in the USA, Canada, & Mexico in the last 15 years. Online bank is great.