RECENT POSTS
  • Credit Cards,  Miles and Points

    What to do with Membership Rewards Points if you Don’t Travel

    The best way to achieve the greatest value for your American Express Membership Rewards points is by transferring them to Airline and Hotel travel partner programs. That’s where you can often get more than 1.5 cents per point on flights and rooms, sometimes WAY more. But if you don’t travel, should you shun the American Express cards that earn these points? Not necessarily, as there are other redemption options. Be careful when you redeem your points, as each method gives you different a value for your points–some are downright awful. I’ll go through each one in the order of “Least desirable-don’t do it!” to “Best method in a pinch.” Shopping on Americanexpress.com A prominently…

  • Basics,  Credit Cards,  Credit Scores

    Before You Cancel That Credit Card, Read This!

    One question that I am asked frequently is: “Will it help or hurt my credit score if I cancel a credit card?” I can say with certainty that the singular act of cancelling a card will never help your score. And, depending on your credit profile, the negative impact could range from negligible to significant. In my article “Decoding Credit Score Mystery Math“, I explained the factors that make up your score. The three largest factors are: Payment History (35%), Credit Utilization (30%), and Average Age of Accounts (15%). Let’s have a look at how canceling a credit card impacts these factors. Payment History Some readers may feel that closing a credit card where they have…

  • Credit Cards,  Miles and Points,  Travel Rewards

    Miles and Points Programs Expiration Rules – What You Need to Know

    Cash back and rewards points earned in credit card programs like Chase Ultimate Rewards, Amex Membership Rewards and Citi ThankYou Rewards, don’t expire as long as you keep your card open. However, when you transfer those points to your airline frequent flier or hotel loyalty account, they become subject to the terms and conditions of those programs, and may expire if you don’t use them. Flexibility is one thing that makes credit card travel rewards points so valuable–they can be transferred to many different partners at will. As a rule, in order to retain that flexibility, you shouldn’t transfer any more points than you need to book a flight or stay.…

  • Credit Cards,  Miles and Points,  Travel Rewards

    Do Credit Card Points Expire? Not if You’re Careful

    You’ve earned all those credit card rewards points from spending and sign up bonuses, it would be a shame to lose them. The good news is that these points typically don’t expire, but if you’re not careful, you can accidentally forfeit them. Read on to make sure that doesn’t happen. Cash back credit cards are consistent and fairly straightforward: your cash-back credits won’t expire as long as your account is open. If your card has no annual fee, there’s no reason to cancel it… Ever! There is no downside to keeping a free credit card account active–even if you rarely use it–and it will help your credit score at the same…

  • Basics,  Credit Cards

    A Handy Tool For Using the Right Credit Card for Every Purchase

    You’re standing in line at the grocery or office supply store, holding a wallet overflowing with credit cards, and you can’t remember which one you should use to get the most cash back. Sound familiar? Same here, and that’s exactly why I created the PointsYak Cashback Lookup Tool: just follow the link, bookmark it on your mobile phone, and finding the right cashback card for every purchase will always be just a click away! There’s no app to download, no GPS tracking your whereabouts, and no sign-up required. Shopping online is usually the best the way to maximize your savings, and my last article, “Maximize Cashback and Points Using Online Shopping Portals”, showed you how…

  • Basics,  Credit Cards

    Maximize Cashback and Points Using Online Shopping Portals

    I must confess, I’m not a fan of crowded malls, however, I am a big fan of getting a great deal. I can accomplish both by purchasing my items online through shopping portals, a great way to earn extra miles, points or cashback in addition to rewards earned with your credit card. What is a shopping portal? In short, shopping portals are websites that provide links to various internet retailers. In return for directing customers to their site, those retailers pay a commission to the portal for each customer that makes a qualifying purchase. The portal then allots a portion of that commission–in the form of points or cash–to the original customer. You get paid…

  • Amex Offers
    Credit Cards,  Offers

    New Amex Offer – $60 Off $300 at Hilton Hotels

    Yesterday, I wrote about an American Express offer to save $50 on you next $250 hotel stay. That offer is targeted to certain cardholders. Today, a new public Amex offer became available for $60 off your next $300 stay at a Hilton hotel. This offer is available via the Twitter hashtag #AmexHilton and via the “Offers for You” section of your americanexpress.com account. Since I was targeted for yesterday’s offer, I suddenly have the urge to book a weekend stay at a Hilton hotel. I see no reason why a $300 bill won’t trigger BOTH credits totalling $110. That amounts to a savings of up to 36%! The Details Note…

  • Amex Offers
    Credit Cards,  Offers

    New Amex Offer – Save $50 on Your Next Hotel Stay

    Do you have any travel plans scheduled for the next 3 months? Check the “Offers for You” section of your americanexpress.com account. You may find a targeted offer for $50 off your next hotel stay of $250 or more. I had it available on 5 of my 7 Amex cards. I’ve also read reports of a similar deal for $25 off a $100 hotel stay. YMMV. The Amex Offers program is one of my favorite credit card perks. Everyone with an American Express card should be taking advantage of this—if you’re not, you’re leaving money behind! The Amex Offers program is reason enough to have at least one, if not multiple…