Saturday, December 09, 2006

Got the new credit cards

Both of by new credit cards came this week. I now have three, which is probably enough for me for the foreseeable future.

One is a MasterCard from Household Bank (HSBC) and offers 0% interest on purchases for the first six months. I intend to put most of the rest of my New York City trip expenses on it, make the minimum monthly payments (plus a modest amount) and pay it off over those six months and let the cash that I could have used to pay off the expenses sit in savings where it earns roughly 5% interest. My expectation is that I can use fresh savings (extra cash after trimming expenses) to pay down the card balance without touching my existing savings.

The other is a MasterCard from Barclays Bank of Delaware that is branded for Frontier Airlines Early Returns frequent flyer program. It doesn't have an introductory rate for purchases, but does earn miles for purchases. I will probably begin using this card for my regular daily and weekly expenses and pay off the balance due every month.

Both cards have no annual fee.

Unfortunately, they both have fairly low credit limits. Together they have only half of the credit limit of my CapitalOne card.

-- Jack Krupansky

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