What’s So Rewarding About a Rewards Credit Card? – Episode #12
What’s so rewarding about rewards cards? which one is best. If you carry a balance, it really doesn’t make sense to have a rewards card. Why? The annual fees and the interest payments you will make over the course of a year are higher than the reward dollars you will earn. So what about people who pay off their balances in full? It still isn’t really that great of a deal. That’s because you will earn about 1 cent for every $1 spent which equates to a 1% rebate program. That’s not something you’d jump at if you saw your favorite retailer having a 1% off sale. Could you imagine? That said, if you are like me and you don’t carry a balance and you use your cards a lot, then why not get a rewards card. If you charge $25,000 a year on your card, it’s still a $250 value in most cases. Again, the key is what type of card user you are.
My favorite rewards card used to United Chase, but now United is making it difficult to cash in those miles, so my new favorite is the Starwood or Hilton Amex Cards.
- What’s So Rewarding About a Rewards Credit Card? – Episode #12
- What is a Charge Card? – Episode #41
- Store Credit Cards – Save Now, Pay More Later – Episode #91
- Should College Students Get Credit Cards on Campus? – Episode #23
- Can Grocery Ordering Online Improve My Credit Score? – Episode #43
- Are Credit Card Limits Being Lowered? Will This Impact My Credit Score? – Episode #42