Choosing The Best Credit Card

At the end of August, I got my first credit card. I did a lot of research trying to find the most convenient card that came with the best benefits, and finally decided on the Visa Signature card from Bank of America.

credit cards

Why I Chose This Credit Card

I am able to log in to Bank of America once to check all my balances. While I have accounts at both Bank of America and ING, I’m not looking to open accounts at too many banks. It creates a hassle and while it’s not difficult to check, it’s just one more thing I have to remember to do. So I decided to stick with Bank of America because of the convenience.

Better than the cash back rewards, there’s one big reason why I wanted this card specifically (I spent a few hours convincing customer service representatives to upgrade me from Platinum Plus to Signature Visa). Until March 2010, when buying tickets from Fandango using a Visa Signature card, customers receive 2 for the price of 1. This offer is valid once a month for each card. My girlfriend loves going to the movies, and knowing that the price of tickets got cut in half makes it that much more appealing.

Why This Signature Visa?

While the Chase version of the card gives slightly more cash back, I decided that since my monthly expenses that I’ll be using my credit card for amount to about about $200 a month, the extra $2 I would get in cash back a month isn’t worth the hassle of opening a new account.

I figured that since both of my accounts would be through Bank of America, it would be very easy to set up automatic payments from my checking account to my credit card. It turns out that I needed to authorize this in writing, and received the form in the mail last week. Is it better to know that it will automatically be taken care of each month? Or since I manage my expenses regularly, should I just pay my bill when it’s due, knowing that I won’t miss a payment?

Big Savings

So far, I have no complaints. I’ve used the Fandango offer for September, and being able to go to a movie for $11.75 instead of $23.50 makes a big difference. At once a month, that’s a savings of $82.25 which I would have otherwise spent. I guess my emergency savings is going to get a little boost over the next 7 months.

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