June Casagrande, NerdWallet Published 3:30 pm CDT, Friday, May 10, 2019 This article was first published on NerdWallet.com. You saw an irresistible credit card offer — tens of thousands of bonus points or miles easily worth a plane ticket or short hotel stay. You seized the opportunity, earned the sign-up points and enjoyed them to their fullest. Now, you’re left holding a credit card that likely will never pay off that big again. No more five-figure points bonuses, just a syrup-slow process of earning miles as you shop, accumulating one or two points for every dollar you spend at a pace that probably won’t get you another free trip for years. Worse, you’re paying an annual fee just to hold the card. If you don’t earn those points or miles fast enough, your costs could outpace your rewards. Many who jump at a credit card sign-up bonus end up here, and the credit card issuers count on it. After all, they’re in business to make money, … [Read more...] about 8 Ways to Keep Your Travel Credit Card Working for You
What credit card is best for travel rewards
Every once in a while I’ll be on a tour or staying at a hotel where I can’t help but hear the conversations around me. Sometimes I hear something that makes me stop what I’m doing and listen. The latest happened on a trip to Peru recently when one traveler asked, in amazement, “Why would you use a debit card to pay for an $8,000 tour? Are you out of your mind?!” The recipient of this question mumbled something about responsible spending and not going into debt, but the others at the table hit him with a barrage of arguments that had him saying, “Okay, OKAY—I get it. So what card should I get?” On the one hand, you’ve got to admire a guy who got to retirement age without putting things on a credit card. That restraint and fiscal responsibility are admirable. On the other hand, half the people at that table I was eavesdropping on had not paid for their flight—they cashed in miles to get to Peru. This guy, on the other hand, had … [Read more...] about Are You Getting All the Credit Card Perks for Travelers?
Twenty-four years ago, I knew so little about travel rewards that I took an around-the-world trip without signing up for a single frequent traveler program. Those lost points and miles still haunt me. Fast forward to last summer, when our family stayed two nights at a luxury hotel in Venice, Italy. Our room would have cost an eye-popping €1,500, or about $1,700, per night. Thanks to the points I'd accumulated using a travel rewards credit card, this over-the-top stay was free. There's definitely a learning curve involved when it comes to travel rewards, but delaying your education can be costly if you love to travel. For example, many people misunderstand how much points are worth, either over- or underestimating how much free travel they can get, according to a recent NerdWallet survey . People also make the mistake of carrying balances on those cards (the rewards won't make up for the high cost of paying interest), and far too many people earn rewards that they don't redeem, … [Read more...] about Liz Weston: 5 travel rewards myths that could cost you
Erin El Issa, NerdWallet Published 11:00 am CDT, Wednesday, April 10, 2019 This article was first published on NerdWallet.com. More than one-third of Americans (35%) carry a credit card that gives them travel rewards for spending, but almost half (44%) overestimate the value of those rewards, thinking a point or mile is worth 5 cents or more, according to a recent NerdWallet study. Points and miles are actually worth around 1 cent each, on average. But they’re still highly valuable — if you use them effectively. Reward redemption options aren’t created equal A point is a point is a point … or is it? While some travel credit cards have a single redemption option — such as credit against travel purchases — others offer multiple options, but they may not all provide the same value. For example, a travel card might let you redeem rewards for travel at 1 cent per point. That same card may also offer you a gift card redemption option … [Read more...] about Travel Rewards Can Take You Far — but Only If You Pay Attention
Robin Saks Frankel, NerdWallet Published 8:16 am CST, Tuesday, January 8, 2019 This article was first published on NerdWallet.com. New Year’s resolutions are about goal-setting: You want to lose those extra pounds, achieve that financial target or reach a professional milestone. While we can’t help you with your boss or your keto diet, we can help you use your credit cards in a way that will benefit your financial life in the new year. Read on for some resolutions that can have a positive impact on your wallet. Go on a debt diet NerdWallet’s 2018 analysis of U.S. household debt shows that the average household with credit card debt has an estimated $6,929 in revolving balances, or balances that carry from one month to the next. That figure may not seem overwhelming by itself, but combined with other obligations like student loans, mortgages and car payments, total debt can quickly spiral out of hand. If you’ve got sizable … [Read more...] about NerdWallet’s Best Credit Card Tips for January 2019