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A note from Becky:

The new year can be a fresh start for your personal finances. On my list this year is reassessment: I’ve spent years trying to optimize my credit card rewards and benefits. Now, between my husband and I, I have 13 cards to manage. I’m reviewing each card’s features to make sure I don’t leave benefits on the table—and this week, I share my tips on how you can maximize your credit card perks, too.

Best,

Becky

Becky Pokora

Staff Writer

Credit Cards

How Credit Card Perks Work

Be honest: Do you really know what benefits your credit cards offer? If the answer is no—or kind of—then you’re likely not getting the most out of your cards. 

In an effort to lure in new customers—and to entice existing customers to continue using a specific card—credit card issuers distribute a portion of their income in the form of perks. Cash back, miles and points keep you reaching for the card in your pocket. Freebies, like checked bags on airline cards or hotel free night certificates, can add up to huge savings for a consumer. 

The trick is remembering to use these alluring perks (and understanding the fine print to ensure your transactions qualify). 

Card issuers expect a percentage of cardholders to never use their benefits, or to only use a portion of them. Small statement credits that renew monthly, like a $10 dining credit, seem inconsequential. But forfeit them too often and the card’s annual fee is harder to justify.

Card benefits evolve over time, with new perks added (or removed), and new terms attached. Even if you thought you were up to speed on what your card offers, it’s a good idea to review your card benefits guide and other materials in your account to ensure you haven’t inadvertently overlooked or forgotten anything

Debt Consolidation Loan Vs. Balance Transfer Credit Card

A balance transfer card can be a powerful tool in your debt-busting arsenal. A 0% APR offer on a credit card can save money by having all of your payments during the intro period go towards knocking out the principal balance instead of some being siphoned away to pay interest charges.

Best Balance Transfer Credit Cards

Debt Consolidation Loans For
Bad Credit

If you have bad credit and high-interest debts you want to pay off, it’s worth considering your options. Bad credit consolidation loans might work well for certain debts, especially those with sky high interest rates like payday loans or title loans.

Debt Consolidation Loans

Here’s what else you should know
this week

Top 6 Credit Card Tips for 2023

A few key tasks can start you out on the right financial track this year and might even earn you some extra cash.

The Best Apps For Tracking Credit Cards and Travel Rewards

Reward points are one of the most valuable reasons to use credit cards and these apps help you track your balances and expiration dates across multiple programs.

Credit Cards We Are Quietly Quitting (And Why)

Just as the right credit card can be an important tool, holding onto the wrong card can be a drag on your finances. Here’s what Forbes Advisor staff considered before dropping poor fits.

Sponsored Content

Here's The No. 1 Reason Americans Crave Travel Rewards Credit Cards

People who love their travel rewards credit cards are most eager to use them to offset vacation costs, a new Forbes Advisor survey shows. Using rewards to grab a flight to a sunny escape or to stay at an all-inclusive ski retreat is even more appealing than other card benefits—like access to a speedy airport security screening line or a private place to relax away from other travelers.

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