Everyone loves credit card rewards. But sinking into debt to maximize your rewards is one of a few losing strategies experts see from consumers.
And why shouldn't they? If you're a responsible card user, you can essentially get perks — in the form of points, miles or cash back — for spending money you were going to spend anyway.It's a more common error than you may think. Of the 48% of U.S. cardholders who carry a balance from month to month, 67% say they try to maximize their rewards, according to a
But running a tab while you chase rewards isn't the only blunder they see among cardholders. Here are two more common mistakes they say may be costing you money.If you have a cash-back strategy and pay your card off every month, you don't have much to worry about. Just check in every so often and redeem your cash as you see fit — either as a statement credit, a direct deposit into your account or as online payment for goods and services.
At the time she originally planned her trip, her hotel rewards points were worth roughly 0.8 cents a piece she says. Her plans fell through, and just a few months later, they were worth closer to 0.6 cents, she says.don't want to hoard points and milesHernandez's colleagues at The Points Guy put it even more succinctly: "The general guidance is, earn and burn.
To get the best deals, you have to be able to pull the trigger on offers to boost the value of your rewards, often by transferring them to a partner of your card issuer, says Hernandez. "If you're looking to get the most value out of your rewards, you're checking daily," she says.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lauren Betts scores career-high 33 as No. 1 UCLA handles No. 8 Maryland, 82-67Saylor Poffenbarger had 18 points for the Terrapins, who have dropped three in a row. Maryland played its without second-leading scorer Shyanne Sellers, who sat for the second consecutive game with a knee injury.
Read more »
Deantoni Gordon leads Southern Miss to 67-59 victory over LouisianaDeantoni Gordon had 13 points to help Southern Miss defeat Louisiana 67-59.
Read more »
Denise Austin, 67, Shares 3 Moves for a ‘Strong’ and ‘Healthy’ BackGet to know Women's Health cover stars and mother-daughter fitness duo, Sydney Denise and Katie Austin – from who's the most likely to win a cooking show to their go-to workout music.
Read more »
Castro scores 21, George Washington beats Saint Louis 67-61Led by Rafael Castro's 21 points, the George Washington Revolutionaries defeated the Saint Louis Billikens 67-61 on Saturday. The Revolutionaries are now 14-6 with the win and the Billikens dropped to 12-8.
Read more »
Magee has 22 in Drexel's 67-54 victory against DelawareLed by Kobe Magee's 22 points, the Drexel Dragons defeated the Delaware Fightin' Blue Hens 67-54. The Dragons improved to 12-9 with the win and the Fightin' Blue Hens fell to 11-10.
Read more »
BillboardPang, Entertainment Industry Veteran, Passes Away at 67This article reports on the death of BillboardPang, a well-respected figure in the entertainment industry. It details his career trajectory, his involvement with major events, and his passions outside of work.
Read more »