George,

Well Its not quite that easy, atleast what I am finding out. Depends alot on your spending habits and your credit card usage habits. In your case appears to be extremely Minimal and for emergancies only.

Here is a good site that has alot of information about different types of credit cards.

http://www.ramresearch.com/


A person with high balances might want to pay $65/year for a lower rate versus a person who pays their cards off each month, that wouldnt make sense. For those type of people, esp with excellent credit histories, you have your choice, go for miles, cash rebate, or decent rate (no-annual fee).

Be warned though that in the near future that alot of the really nice perks will squeezed as credit card companies try to get more profits in this market. Its an area that ppl only notice if you read the fine print. Look back to a post I made a few days ago about a business week article I ran across.


I tend to agree with you, I in a heap of debt now but I dont ever plan on getting rid of all our cards. Ultimately, in time when we are out of debt I'll whittle the number of cards we have down to 1, right now have 3 and now a debit card.

Rob
Bottles