The interview was on last week. When I heard them mention award credit cards I had to jump in and watch. I’ve always liked Cavuto, as he doesn’t pull any punches in his interviews. Two days later, I watched him fry a Congressmen from Tennessee regarding the President’s visit to Indiana, while snubbing his home state where more jobs could have been created.
Anyway this guy Dave Ramsey was really against reward credit cards and cautioned the masses to stay away. His reasoning is that you can’t get something for nothing, and we certainly are not smarter than these huge multi billion dollar company’s marketing departments.
The entire thrust of Ramsey’s comments were if you get a credit card you will use it and end up essentially borrowing money by not paying off the balance in full every month.
Here in lies the basis of our success. It is so plain and simple and I am so in hopes you are not falling into the trap of actually using your credit cards for more than spending you can pay off in full every month.
Ramsey went on to say that the credit card companies are in trouble as people are not spending what they used to on their cards (that’s good) so they are upping the signup bonuses which he still says are not worth it.
Based on this “talking heads” discussion we are winners, and will continue to be winners if we continue to apply and then use our cards only to meet the minimum spend level. If the credit card companies are in trouble, let them up the bonuses all they want and we will give them applications and minimum spend, but never a days worth of interest.
IHG® Rewards Club Select Credit Card
- Annual Fee: $49 fee waived for the first year
- Foreign Fees: No
- Card Type: Hotel
The IHG Rewards Club Visa is often cited as one of the most underrated hotel credit cards, with good reason. The official offer is for 70,000 points after $1,000 spent within three months, with the first year’s fee waived. The card comes with an annual free night certificate that can be used at any IHG property, including Intercontinental hotels - making this certificate worth upwards of 50,000 points. This is far more generous than some other hotel cards, which limit the categories in which free night certificates can be redeemed.
Cardholders earn 5 points per dollar at IHG hotels; 2 points per dollar at gas stations, grocery stores, and restaurants; 1 point per dollar everywhere else. Moreover, you’ll get a 10% rebate on award redemptions, up to 100,000 points per year. The card also comes with Platinum status, though that doesn’t get you much with IHG. Still, this is a fantastic card to have in your wallet, with benefits that far outweigh the already low $49 annual fee.
- Earn 70,000 bonus points after you spend $1,000 in the first 3 months of account opening
- Enjoy a free night of card membership at over 4,700 hotels worldwide
- Earn 5 points for each $1 spent at our hotels
- Earn 2 points per $1 spent on purchases at gas stations, grocery stores and restaurants
- Bonus points redeemable at hotels such as Intercontinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts and Holiday Inn®
- Automatic platinum elite status, as long as you remain a cardmember
- $0 introductory annual fee the first year, then $49