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LowCards.com CEO Bill Hardekopf on the steps to choosing reward credit cards.
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In focus tonight rewards cards for big spenders.
We recently told you how more and more credit card companies are sending out offers in the mail with huge incentives.
Herewith a look at a few of the options for your wallet is bill Hart a cough CEO of low cards dot com he's the author of the credit card guide -- Bill good to see you again on the show here.
Look at these -- these rewards cards a lot of people like using them but they can be expensive if you don't pay on time because they have higher rates.
How do you choose a good card.
Well what you really need to do is analyze your credit card expenditures from the past year.
Kind of analyze them by category to see where you've spent your money.
And then you know -- gas by supermarkets by dining and then take a look at the credit card rewards cards that your.
Looking to possibly get.
And take a look at the terms and conditions of those cards and really analyze what she will get based on what you spent last year.
I don't talk about some of your favorite cards it.
When you look at these cards what are the best deals out there.
Well the best deal for me might be very different than what it is for you it depends on our personal expenditures and it depends on what kind of rewards who we may want.
Whether that's cash -- mileage.
But what she really want to do is is analyze the terms and conditions look at the spending tears that are needed.
Look at cash back rewards.
Look at the categories that they spend on.
And also look at the interest rates in the annual fees that might be assessed on those cards.
Well sounds pretty complicated.
There are concerns out there -- though and rewards cards are gonna go away because of the -- -- antitrust settlement.
With Visa and MasterCard over interchange fees is there a threat to the business model because of the settlement.
Well there is especially if you look at what happened -- debit card rewards once the interchange fee.
Got cut on debit cards back on October 1 those debit card rewards almost one away entirely.
But I don't think that what happened on credit cards there are too many people that use a credit card just for the rewards in the issuers know that.
And I think they feel they would lose too much business if they cut the credit card rewards entirely.
As you look back that to how his cards have been operated over time any.
Last minute advice to people who are out there shopping right now -- cart.
We'll take a look at say the best three cards for you then look at the to the mathematical calculation on how much you will make.
For each of those rewards based on what it says in the terms and conditions.
And then picked the card that's right for you remember.
Bill thanks for coming on -- great to see you.
Thank you -- Well.
