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.
Citi Prestige® Card
- Annual Fee: $450 fee
- Foreign Fees: No
- Card Type: Bank
The increase to 50,000 ThankYou points for the Citi Prestige card may be a signal that Citi wants back in the game, big time. The sign-up bonus has just been increased to 50K points from the previous 30K offer. An added benefit is a $250 annual air travel credit each calendar year -- so, if you sign up in April, you'll receive the credit this year, and again in January of next year -- which more than covers the $450 first year fee. When you add in lounge access for you and up to two of your guests, you’ve added another $400+ in value. One more benefit worth mentioning is the fourth night free for any four-night hotel stay booked through Wagonlit Travel. And lastly is the $100 statement credit when you sign up for Global Entry and pay for it using the Prestige card. Don’t forget the ever-growing number of airline transfer partners that work with the ThankYou points program.
- $250 Air Travel Credit each year
- Complimentary 4th Night for any hotel stay
- Earn 50,000 bonus ThankYou® Points after $3,000 in purchases made with your card in the first 3 months the account is open.
- Points are redeemable for an $800 flight on American Airlines or US Airways®, a $665 flight on any other airline or $500 in gift cards.
- Transfer points to a variety of travel loyalty programs from airlines to hotels.
- Earn 3x points on Air Travel and Hotels
- Earn 2x points on Dining at Restaurants and Entertainment
- 1 ThankYou® Point per $1 spent on other purchases