So, which cards do I consider the best? Well that depends on how much you’re spending and where. The “best” card for me may not be the best card for you. I buy groceries but it’s not my largest expense, you may have groceries as your largest; so your optimal card and my optimal card are different.

So, the best way to do this is to analyze your spending, probably best done through a budget, and select from the following list of best cash back and reward credit cards.

But who is Pulaski Bank? They’re a bank located in Little Rock, AR that has been FDIC insured since 1991 with certificate #33538. They’re a legitimate bank with a legitimate credit offering a no fee 6 month 0% balance transfer.

It’s an FIA Card, meaning a Bank of America card, but branded by Fidelity and uses the American Express network; so it also has WordPoints reward options as well. It’s a brand new card and definitely worth a look if you have a Fidelity account.

Well it’s that “you never know” part that scares credit card companies. They don’t like having large outstanding credit lines out there, especially if they aren’t being used. If you haven’t used a card in a year, what’ll make you start using it again? Maybe you’re in trouble, maybe you suddenly need money, both cases scare credit card companies. So they started closing those accounts.

If you want to avoid this happening to use, start using your old cards again just so they don’t come up as inactive.

What’s nice is that they’re extending it to January 4th, meaning you can take advantage of post-holiday sales!

Terms & Conditions:

*Get a $20 Discover® Gift Card when you make $200 in purchases with your Discover Card at a participating mall between 11/1/08-1/4/09, while supplies last. Original receipts must be presented to a participating mall’s Customer Service by 1/4/09. See Gift Card terms and conditions for full details.

More details available here.

For those who have 0% on purchases offers from credit cards, you can use this as a no fee 0% balance transfer for $1500.

You Never Know…

You never know when you’ll need that credit. Maybe you lose your job the next day or there some big emergency that drains your emergency fund and forces you to tap into your credit cards for some relief. You never know what will happen so it’s always good to have as low a rate as possible on purchases. I never carry a balance and I’ve been fortunate to never have been in a situation where that would’ve been necessary. However, if I am, I’m comforted in knowing my rate is as low as I could’ve gotten it.

Your Best Shot Is Now

Whether you have a balance or don’t, the best time to ask is as soon as possible. If they say no, no big deal. If they say yes, then you immediately benefit. You don’t want to be in a pressure situation before you ask. For some reason companies can sense that.

Why Not?

Basically, why not ask? It won’t hurt you any.

Is it worth it to get a 0% balance transfer for only six months? I think that any time you can get a breather, you take it if you need it. These give you six months more time to catch up on your debt. If you’re thinking about balance transfer arbitrage, I’d skip them and wait until a longer offer comes around.

The result is that it is now standard for every credit card with a balance transfer offer to have an associated 3% fee. Citi used to have no fee balance transfers out the wazoo, but now there are 3% fees with no maximum.

The best option now for someone looking for a quick cheap loan is by applying for a Discover card. For the most part, and you’ll have to double check the terms & conditions of the card you’d apply for, the fee is 3% with a maximum of $75. The sweet spot on that deal is thus $2500. If you get a transfer of over $2500, then your actual percentage fee starts to dwindle (3% of $2500 is $75). If you have a $5,000 credit limit and get a balance transfer for that amount, you’re really talking a 1.5% fee. If you have a $10,000 credit limit, you’re only talking a 0.75% fee.