Need a shiny new card
May 10, 2010 12:39 PM   Subscribe

I need a second credit card, where do I go about finding a good one?

I've decided I need a separate credit card for reimbursed business expenses. I have a personal credit card that I don't often use because the interest rate is poor (I keep it around because it's one of the oldest accounts on my credit report). I get reimbursed twice a month and can rack up a few thousand dollars of expenses in that time. If it matters these expenses are flights, hotels, meals etc... I travel a lot so I looked at some airline cards but they are all shit APRs.

Years ago I took myself off the prepaid credit offers list, so I don't get those in the mail.

Are there honest websites that will help me with this?

Any tricks/tips to finding a reasonable credit card?
posted by French Fry to Work & Money (8 answers total) 5 users marked this as a favorite
 
If you're being reimbursed twice a month, I would quit worrying about APRs. Just focus on the type of perks that you want. Airline miles would be good, if you want to travel in your spare time. If you're just traveling on the company's dime, don't go with airline cards, since you don't need the miles. A number of cards offer straight cash back, which is always nice. I have an REI card, so instead of getting a few bucks knocked off of each bill, I get a present in the form of free outdoor gear. Just go with whatever perks interest you the most.
posted by craven_morhead at 12:44 PM on May 10, 2010


Bankrate has a "find a credit card" dialogue which sorts out fees/rates/perks/etc.
posted by gyusan at 12:53 PM on May 10, 2010 [1 favorite]


If you're being reimbursed twice a month, I would quit worrying about APRs.

Yes, you shouldn't be carrying a balance unless for some reason your employer isn't reimbursing you within the time between when your statement comes and when the payment is due.

The FatWallet thread on credit cards is the best resource I know of for finding the best rewards programs. I used it to find the Charles Schwab card that I use most of the time now to get 2% cash back (which you apparently can't get anymore according to the thread).
posted by burnmp3s at 1:07 PM on May 10, 2010 [1 favorite]


I'm fairly happy with the blue from american express card. The rewards are decent and, for me, easy to use by redeeming for gift cards for places I shop. The points can also be redeemed for miles on a number of airlines, giving you some flexibility for travel uses.

I also like this card because it extends the warranty an additional year for many electronics purchases, but that may not be relevant if you're using it work-only.
posted by mercredi at 1:31 PM on May 10, 2010


It's hard to beat the Schwab Invest First Visa for its 2% cash back. It gets deposited right into your Schwab brokerage account every month (it's free to have one and it doesn't cost anything to transfer your money out, or you can use the money to buy some of Schwab's no-commission ETFs). The Chase Freedom MasterCard used to be my favorite, and I still have one -- they have quarterly deals where you can get 5% cash back on various categories of purchases.

Personally, I find cash back to be the most useful type of reward. Air miles are among the worst (although the account opening bonuses can be nice). If you look at how many airline miles it would take to earn a free flight, and consider that you typically get one mile for each dollar you spend, you have to spend maybe $50,000 to get a single free flight. Whereas if I spent $50,000 on my Schwab Visa, I would get $1,000 cash. Depending on where you're going, that could be enough for two tickets. Plus of course I can spend it on other things, not just travel.

I would suggest maybe putting yourself back on the pre-screened offer list and just seeing what comes your way. When a new, better offer shows up, take that one. There is little benefit to not having a lot of credit cards.
posted by kindall at 2:40 PM on May 10, 2010


Billshrink is another good resource for identifying cards that best fit your needs.
posted by goateebird at 4:47 PM on May 10, 2010


If you have a Costco membership, you can get an American Express True Earnings card, which gets you 3% cash back on restaurants and gas and 2% back on travel (and 1% back on everything else). (You only get the cash back once a year, though, in the form of a voucher that you have to take to Costco to exchange it for cash or a gift card.)
posted by pluckemin at 5:31 PM on May 10, 2010


I might be over simplifying, but have you just asked at your bank if you can get a second card to keep expenses separate?
posted by TravellingDen at 5:52 PM on May 10, 2010


« Older Tips on renting out a condo in Chicago?   |   Calculus Newer »
This thread is closed to new comments.