Final thoughts on Credit Cards

There are so many cards to choose from that it can be daunting.  But for the final time, if you don’t have a good grasp on your finances, this is just the wrong play for you.  Get out of debt and put yourself in a position to pay off those bills every month.  If you’d like to earn points in the interim, I’d recommend getting a no fee card with a low interest rate to get started.  

An easy calculation of how much a rewards point is “worth” is to value each point as one cent.  We’re trying to maximize the return we get on these points but we’re also dealing with small figures.  Thus the need to really be vigilant in paying off your balances.  

Also, don’t let all the bells and whistles of these premium cards lure you into getting it if you’re not going to take full advantage of them.  If you do travel with anyone, my guess is you can piggyback off their perks without getting the card and the fees yourself.  I’d say anyone who travels more than twice a year will really get use from these cards but if you don’t, you may want to just get a no fee card and then see if a premium card is really worth it.

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