Which credit cards are the best deal?

Question

I currently do not have any credit cards and would like to apply for one before going on vacation. I only want it for emergency situations. We are a cash family. How do I choose which would be the best deal?

Answer 1

Well, if you're going to use it on vacation out of the country, then you might want to get a Capital One card to avoid the 3% foreign exchange fees.

You can read about the good-for-foreign-spending cards in this article:

http://www.uthunk.com/Travel/Foreign-exc...

If you're not going out of the country, then you'll probably just want the card that would pay you the most in rewards for your spending.  You can use this rewards calculator to help you figure out which credit card will pay you the most in rewards (e.g. cash back) for your expected  spending:

http://www.creditcardtuneup.com/

Answer 2

Look for no annual fees and points programs are great - my fav - Airmiles American Express.  

If you have no credit rating, you may have to opt and pay a deposit to obtain a card through a bank, ie. CIBC Visa, but it's a worthwhile start to build your credit.