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SmartCredit.com Consumer Education President John Ulzheimer on the rewards credit card companies are offering in an effort to get consumers to use the...
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From cash back bonuses to travel incentives credit card issuers are ramping up their.
All in an effort to get -- to dump your debit card John Alzheimer is president consumer education for -- credit dot com John great to see you so.
Tell me about this what are they doing to try to get our attention here.
Audience out of obviously is to get to continue east classic but just the different type of plastic but that -- -- away and pick up that credit card and one of the ways of doing -- -- they recognize and a couple weeks.
We're -- gonna -- -- -- an emperor and and -- stated temporary insanity.
And spend more money from Black Friday -- the end of the year and we spent intact essentially the entire year leading up to that period of time sort of -- we rewards you -- For putting those charges on credit cards and one of the ways to -- -- -- -- -- cash back in pretty aggressive term.
Well I you know I'm not against that and as you know I am suspicious of the debit card these days because of what banks to -- do loading up on fees.
It's also not a safe is it credit card really -- -- get right down to it.
Now interestingly you have chosen three credit cards for us to talk about here I wanna walk through the show folks what you're talking about you like the discover.
Why.
I like to discover more card primary bush sockets that utilitarian cash back -- -- it was the first party so I think you dance of the one abroad yeah.
And you know what 0% off APR on balance transfers and purchases for fifteen months after he -- it and alas I'm mistaken 0% is about as low as you -- don't want interest rates are a lot about one.
Yeah that that really speaks well OK you like the chase sapphire -- Only about yeah I I do I I'd like especially if you were going to really break the bank.
This holiday season and spend a large amount of money you spend more than five grand.
Then you're gonna earn 25000 bonus miles -- bonus points.
So I'm not I'm not suggesting that you go -- -- do it just -- the point but if you are going to do -- -- -- look at -- points as a as a collateral -- -- benefit of using the card.
-- also like Capital One.
Now what does a lot and here's why -- most people are gonna spend more than 500 bucks this holiday season and it must be really honest about that.
And -- one had a pretty neat program -- they're gonna give you 20%.
Cash back.
On the 51 500 -- in the formal 100 dollar bonus.
So if you're gonna spend all this money on a war rewards card might be -- she's going to give you 20% cash back the one big -- 1% cash back.
So just to be clear here you're not saying you know go out get -- card and use it temporarily you're saying if you are shopping for a card this holiday season.
Here's the -- to put -- basket.
And is there anything else people should be aware of concerned about looking -- with these cards.
Yes every three the company is -- daughters mentioned are for profit not a member charitable 501 C -- -- -- default.
-- with at maintaining.
And operating these awards programs look at the interest rates are going to be paying if you -- -- balance on balances on any -- cards.
Especially outside of any sort of grace period -- safe harbor period they're going to be hired and you'd be paying on your non rewards card.
That's how they get -- so -- beat a fat guy at the -- thing going and pay of 799 eat as much as you can't and then leave.
And pay the balance off and fall the end of the month and be done -- -- I love that use the rewards card but pay it off every single month that's greeted by you've been on thanks for coming in tonight great to have you with -- really appreciate it.
Yes ma'am.
