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.
Chase Sapphire Preferred® Card
- Annual Fee: $95 fee waived for the first year
- Foreign Fees: No
- Card Type: Bank
The Sapphire Preferred offers 2x points on dining and travel, and no foreign transaction fees, making this the go-to card for travelers.
This card accumulates Ultimate Rewards points, which are very valuable for transfer to United and Hyatt. Overall, this card is a great choice for maximizing earnings on dining, travel, and every day spend.
- Earn 40,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That's $500 in travel when you redeem through Chase Ultimate RewardsSM
- Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening.
- 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases
- No foreign transaction fees, plus Chip and Signature enabled for international travel.
- 1:1 point transfer to leading frequent travel programs at full value — that means 1,000 Ultimate Rewards points equal 1,000 partner miles/points.
- 24/7 direct access to dedicated customer service specialists
- Introductory Annual Fee of $0 the first year, then $95