Money Matters

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A lot of us have tired to put away the credit cards during the recession but, if you're ready to spend again, or maybe you're trying to establish credit it's ok to use a credit card wisely.

But, not all credit cards are alike. Here are some that a writer for likes.

1) Simmons First Visa Platinum: If you're looking for a low rate you can't get much better than 7.25% but you must have excellent credit to be approved. There are no balance transfer fees.

2) Schwab Invest First Visa: You earn 2% unlimited cash back on every single purchase you make. You must have a Schwab One Brokerage account but there are no fees to open or maintain an account. And if you're traveling around there are no foreign exchange transaction fees. The interest rate is 13.24%.

3) Citi Forward: Stay under your credit line and pay at least the minimum amount due on time for three billing periods in a row and your purchase A.P.R. will be reduced by 0.25% up to a maximum of 2%,

4) Pentagon Federal Visa Platinum: You earn 5% back on gasoline purchases , 2% back on grocery purchases and 1.25% on everything else. Drive a lot. Save a lot. You must join the credit union to apply. The interest rate is 13.99%.

5) Clear from American Express: It charges no fees of any kind - late, over the limit, balance transfer, or chase advance fees. You earn an unlimited 1% back on every purchase and for every $2,500 you spend you get a $25 American Express shopping card. The interest rate starts at prime plus 8.99%.

Remember if you're going to use a credit card, pay off the balance as soon as possible.

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