Getting a credit card is an important decision because credit cards can help or hurt your credit rating. Using them responsibly is a good way to build a positive credit history although it is easy to misuse them and end up thousands of dollars in debt. If you are applying for credit for the first time or you are looking for an additional credit card, one of the biggest questions you may have is should I get a MasterCard or VISA credit card?

The truth is that both companies report the same way to the credit bureaus and have the same type of impact on your credit score. Both VISA credit cards and MasterCard are very popular and are accepted at virtually all of the same merchants and ATM’s. Because they are pretty much the same in these respects when it comes to choosing between the two the choice usually comes down to which company will give you a better interest rate, credit limit, and the rewards you want.

VISA and MasterCard compete to attract consumers which means they both have good deals for people with good credit. You can find zero interest balance transfer cards, rewards cards, cards with zero interest introductory rates, high credit limits, and other perks from both companies. If you are applying for your first credit card it really does not matter which company you go with. Find the best credit card deal you can and go with it no matter which company it is from.

If you are applying for an additional card to separate business and persona spending, get more credit, or because you want a specific type of reward you may be better off going with the company whose card you don’t already have. This way you can eliminate the possibility that your card will not be accepted. When you have two accounts in good standing you also cause each credit card company to compete even more for your business and you will be offered even better incentives and terms.

Both VISA and MasterCard are good choices and you can’t go wrong with either. When choosing your first card go with the one that has the lowest interest rate and fees. When you are choosing a second credit card go with the brand you don’t have to diversify and drive competition.

By Lakshmi Ramachandran

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Before you fill out that next airline miles credit card offer, put some thought into the frequent flier credit card you want to apply for. There are 3 rules you should check down before you take the time to apply.

The first rule may be the most important. It is a rule based on where you live. Flying an airline that has a hub near you makes the most sense. Most airlines that do not have a hub in a major city near where you live usually won’t offer direct flights. Therefore, if you live in Chicago, which is a hub for United, you might want to consider the United Mileage Plus card. Most flights out of Chicago that are flown by United will go directly to the city you want to fly to. A flight on Northwest might fly from Chicago to Minneapolis and then to your destination since Northwest has a hub in Minneapolis.

Here are some of the major airlines and their hubs.

* Delta – Atlanta, Salt Lake City, Cincinnati, & New York (JFK)
* Contintental – Newark, Cleveland & Houston
* Northwest – Minneapolis, Memphis & Detroit
* United – Denver, Chicago (Ohare), Washington (Dulles), Los Angeles & San Francisco
* US Airways – Phoenix, Charlotte & Philadelphia
* American – Dallas, Chicago (Ohare), Miami, & St. Louis
* Jetblue – New York (JFK) & Boston (Logan)

The credit cards that go with the above airlines are as follows

* Delta – American Express Delta Skymiles
* Contintental – Chase Continental World Mastercard
* Northwest – US Bank World Perks Visa
* United – Chase United Mileage Plus
* US Airways – Juniper US Airways World Mastercard
* American – Citibank AmericanAirlines Card
* Jet Blue – American Express Jet Blue Card

The second rule that should be factored in is the flexibility of the credit card. This may or may not be more important than rule number 1 for different reasons. Having a flexible credit card allows you to get points for any airlines of your choice. However, you do not earn as many points towards an individual airlines like you can with a specific airline miles card. For example, if you book a ticket using your United Mileage plus card with United airlines, they might offer you 2x or 3x as many miles. Many flexible airlines cards also claim “no blackout dates,” which is definitely a plus. A popular flexible airlines miles card is the American Express Blue Sky credit card.

The third rule is the annual fee. Many airline miles credit cards have an annual fee ranging from $50-$150 per year (on average). If the annual fee will offset an airlines ticket, then only earning enough points to redeem one ticket a year would not be in your best interests.

If you take into consideration the above listed rules, and compare airline credit cards for the best rates and flexibility, you will find the perfect card to use for your airline travel and get the maximum benefit out of the card.

By Chad Nordaune

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