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Old 05-26-2012, 05:57 PM
excelblue excelblue is offline
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Join Date: Nov 2009
Posts: 328
I highly suggest a credit card, not for the credit, but for the security:

1.) Much better protection; if your card gets stolen, you have no liability, and invalid charges are very easily protested via a phone call (chargeback). In contrast, with most debit cards, you're liable up to $50 and have to go thru a certain (relatively long) process to recover your money.

2.) Security. It's not linked to any of your actual money. That's why there's a bill at the end.

3.) Safety margin. Despite the high rates, in case of emergency, it's a great source of extra money. You don't even pay interest if it's extremely short term (i.e. within the month).

For a first card, if you don't have any credit already, I'd suggest asking your bank whether or not they offer any credit cards. They're usually easier to apply for since they already have access to your bank accounts, and it's nice to know where you can speak to someone in person about your card. It probably won't come with any interesting features, but it'll also be the easiest to manage. You want your first card to either be MasterCard or Visa since those are most widely accepted. AmEx is much harder to get approved for, and both AmEx and Discover are not as widely accepted as MC/Visa.
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