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Sony Card v. Discover Card.
When Scott commented the other day as to the virtues of the Sony Credit Card, I had to check it out. Right now, I run virtually every purchase in my life including even groceries through Discover so I can get Borders Gift Cards at a rate of $20 cash back dollars for a $25 card. This way I can get hundreds of dollars of gift cards over the course of a year. I pay off the balance on the card every month. I ran some numbers using my typical burn rate per month and it seems that I would only get about half the cash equivalents out of the Sony Card. Of course, I'd be able to use it to get more than just the stuff they sell at Borders, but as it is, the family easily consumes every penny of the Borders goodness. So I guess if I had to recommend a credit card for what you get back, Discover is the easy win for me.
Comments
Other than that, all that matters with a credit card is the credit limit, the APR and the annual fee. The first two are usually more dependent upon your credit score than which card you choose. The annual fee should always be 0. Even if you can't score a low interest rate, that shouldn't matter either. You should pay off your credit card completely every month. If you can't do that, then you're buying more than you can afford. Stop spending money you don't have!
The Sony Card is my first and only credit card. I chose it on a whim 5 or 6 years ago. The rewards that come with it are basically the same as any other reward card. All I remember saying in the episode was how it was ironic that I had a Sony Card, yet bashed Sony constantly. Also, we talked about how we got a TV at a huge discount, and we will soon get a PS2 for free because of the card.
Maybe we'll do an episode on credit cards.