Tag Archives: no-fee credit card

The Points Guy: This Is The Best No-Fee Credit Card

**The Points Guy: This Is The Best No-Fee Credit Card**



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Brian Kelly, founder and CEO of The Points Guy, recommends the Chase Freedom Unlimited if you’re looking for a credit card with no annual fee. With this card, he says, you can maximize rewards and minimize costs.

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Kelly, who has 25 credit cards himself, typically steers clear of no-fee cards. They “generally offer less perks,” he tells CNBC Make It. Compared to cards with a fee, they “may not be the most lucrative in the long-term.”

But “if you’re dead set on a no annual fee card, I would recommend the Chase Freedom Unlimited,” he says.

The Freedom Unlimited offers 1.5% cash back on all purchases, which is “a decent earn,” says Kelly. It also offers 120-day purchase protection and extended warranty protection.

What Kelly particularly likes about the card, though, is that you can also earn your rewards on this card in the form of points. That will come in handy if you ever upgrade to a premium Chase rewards card that has an annual fee, like the Chase Sapphire Preferred or Chase Sapphire Reserve, because you’ll be able to pair them.

“Here’s the deal,” explains Kelly: “If you get a card like a Chase Freedom Unlimited, those points are technically cash back, but, if down the line you get a Sapphire card, you’ll be able to transfer those cash-back points into your Sapphire points … and you can get a ton of value.”

If you end up combining your points across your Chase cards, you’ll have great redemption options, says Kelly: First, you can use them to book travel through the Chase travel portal. With the Chase Sapphire Reserve, every point you redeem on travel is worth 1.5 cents. That means its 50,000-point sign-up bonus can have a value of $750.

With the Sapphire Preferred, points redeemed on travel are worth 1.25 cents.

“In either case, you’re already getting more value per point than the 1 cent each you’d get by redeeming them for cash back,” TPG explains. Chase also offers 13 transfer partners, so you can trade your points in for United MileagePlus miles, for example, and find a seat in business class.

In general, if you’re new to points and miles, Kelly says, “starting off with a no-annual-fee card from one of the big banks, like Chase, is a good way to at least get your foot in the door.”

You can build up valuable travel points with the no-annual-fee card, and then, he says, if you switch cards, you’re going to be able to “upgrade those points to get as much value out of them as possible down the line.”

Whatever credit card you settle on, make sure you pay off your balance in full every month. Otherwise, the interest you end up owing by carrying a balance could negate the value of any points, benefits or cash back you earn.

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The best no-fee credit card, according to The Points Guy | CNBC Make It.
So for starters, if you're
dead set on a no annual fee card, I
would recommend the Chase Freedom Unlimited. It offers 1.5 points on everything you
spend, so you don't have to worry about
all these categories and that's a decent earn. But here's the trick:
when you see the light down the road of
getting a card with an annual fee, if
you have Chase Freedom Unlimited points and then later
on you get a Sapphire, you'll be able
to transfer those cash back points into
your Sapphire points, which can then transfer
out to airlines and you can get a
ton of value. It's good to build
a relationship with the big banks and then
later on have those points that you can then
upgrade to the more valuable points program
within that same bank. When it comes to no
fee cards, I know they're easy to get, but there's
a saying, "Cheap is expensive." And what I mean
by that is the no annual fee cards
generally offer less perks and less
valuable earning. So sometimes you have to
look at your spend and how much you're going
to spend in a year and look at the annual
fee and see if you're gonna get value
from those perks. And there's no easy way
to do it, but look at the card and
there's a lot of unadvertised perks that can
save you tons of money. So whether that's
saving money on checked bags, free in-flight
Wi-Fi and also purchase protection, use a
card that offers purchase protection. I bought a expensive winter
coat and lost it in Iceland. Long story, it was
an accident, but AMEX, because I used an
AMEX platinum card, immediately took the
two thousand dollars right off of
my statement. Sometimes it may make sense
to use cards for big purchases that
offer purchase protection over earning a couple
extra points per dollar. So it takes a
little bit of time to look at what your goals
are and what you're going to spend money on
and make sure you're aligning it to cards that
offer you the most value back. I'm not saying that cards
with no annual fee are bad. I'm just saying they may
not be the most lucrative in the
long term.

5 Ways to Save Money Using Credit Cards

**5 Ways to Save Money Using Credit Cards**



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“Saving money” and “credit cards” don’t seem to go hand in hand, but you can hack your credit card spending to put more money in your bank account. In this video, I outline 5 simple steps to save money using credit cards. Get rich and enjoy the rewards!

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hi guys prison for money after graduation here to teach you how to save money using credit cards now if you think that sounds too good to be true or I might be a little bit crazy you're right but I do know some ways that you can use credit cards to put more money in your budget the first thing you can do is choose the right credit card what I mean by that is to choose a credit card that fits both your spending and your financial goals often credit cards will offer you more cash back or rewards depending on what store you shop at or what kind of purchase you make such as recurring bill payments or groceries or restaurant look at what categories where you spend the most money in your budget and determine what credit card would best fit your spending profile the second thing is to look at whether you want a rewards travel points or cash back credit card if you want to take a vacation every year and you want a little bit of help with that choose a travel rewards credit card if you're really trying to save more money choose a cash back credit card that can help boost your savings account it all comes down to the end goal you're trying to achieve when you're looking for the right credit card for you one of the websites I use to compare credit cards is rate hubs and this is not a sponsored post or anything for them I just really love using their calculators you can put your income and your spending in and it will actually give you a selection of different credit cards that are good for you and you can compare them based on their annual fees and rewards options and so on the second thing you want to do is maximize the spending on your credit card of choice plenty of people have 5 or 6 or more credit cards and there's really no need for that you don't actually need to have more than two credit cards one for your regular spending and one in case of emergencies or if your wallet is stolen and you lose that other credit card so keep one no-feet card locked in your sock drawer in case of emergencies and then use your other credit card as your primary spending card if you can manage using credit cards responsibly make every purchase you can on your credit card in order to maximize the reward so what you should do is automate all your bills to this credit card file your groceries on this credit card everything that you can to one credit card in order to get the most rewards from it the next most tip is to pay off the balance in full every month if you're carrying and balance on your credit cards chances are the interest you're going to pay is worth more than any rewards and could have earned typically interest on a credit card is 20% and there's no way any credit card company is giving you 20% in rewards so it's really important that you pay off the balance in full every month so you don't accrue interest on your purchases if your card has an annual fee don't shy away from it it might still be worth it depending on the reward calculate the number of rewards you expect to get over the course of the year based on your spending and determine how much more than an you'll see it is for the card finally the way to get the most out of your credit cards is to actually use the rewards they get for you if you have a cash back credit card make sure those cash back rewards are going directly into your savings account if you're using a travel rewards credit card make sure you actually take a trip with it and take advantage of the other perks that it might have such as baggage lost insurance or access to airport lounges having a credit card is really convenient and good for your credit score but it can also add more to your budget if you maximize the rewards if you guys already have a favorite credit card that you use for cashback or travel rewards or some other benefit please feel free to tell me about it in the comments below I would love to hear what you're using and what you love if you enjoyed this video please give it a thumbs up and subscribe to my channel and I will see you again next week happy spending don't usually say that

Kevin O'Leary: How Many Credit Cards Should You Have?

**Kevin O'Leary: How Many Credit Cards Should You Have?**



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The “Shark Tank” star has eight credit cards, but says you should have at least two.

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Many financial experts agree that utilizing credit cards in a responsible way is an important route to building credit, so that you can then borrow money at a decent rate for big purchases like a home or car.

Even Kevin O’Leary, star of ABC’s “Shark Tank” and a financial expert, who strongly advocates against taking on unnecessary debt, recommends swiping a credit card every now and then.

And he has a strategy.

“I recommend that everybody have at least two credit cards,” O’Leary tells CNBC Make It.

“The first credit card is one that has a very low limit, let’s say $2,000,” O’Leary explains. “That’s the [one] you use on all the online services. If they get hacked, nobody can spend more than $2,000. That’s how you protect yourself.

“The other card is the one you use when you actually buy things that are not online,” he adds. “And perhaps, those purchases can be much more expensive. But you haven’t exposed that number to the Internet. You need both. One that’s out there, and one that’s private. That’s the way to do it.”

As for credit card rewards programs — getting points for purchases, which can be redeemed for a wide array of goods — skip rewards like airline miles and gift cards and go for a cash-back option, he recommends.

“Forget about affinity points,” O’Leary says. “There’s so much inflation in that. You get less and less every year for the points. Get the cash back.”

So how many credit cards does O’Leary himself have?

O’Leary travels frequently, often internationally, for business and pleasure, so he carries eight different credit cards in multiple currencies, like Swiss francs, British pounds, euros and more.

“I look for efficiency, and having all these credit cards gives me diversity. It makes sure that I’m not being charged for currency conversion. Drives me out of my mind when I’m buying something in London and I’m getting whacked on a conversion price back in U.S. dollars. That doesn’t happen to me, because I have one in British pounds,” he says.

“My whole thing about credit cards is I don’t like fees,” O’Leary says. “I’m cheap.”

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Kevin O’Leary: This is how many credit cards you should have (and how to use them) | CNBC Make It.
I recommend that everybody have at least two credit cards the first credit card is one that has a very low limit let's say $2,000 and that's the number you use on all the online services if they get hacked nobody can spend more than $2,000 that's how you protect yourself the other card is the one you use when you actually buy things that are not online and perhaps those purchases can be much more expensive you need both one that's out there and one that's private that's the way to do it and by the way make both of them cash back forget about affinity points there's so much inflation in that you get less and less every year for the points get the cash back that's the way to go I carry eight different credit cards in multiple currencies I travel internationally so I have credit cards for many different geographies Swiss francs British pounds euros I have all those cards because I want efficiency in my fees my whole thing about credit cards is I don't like fees I'm cheap and having all these credit cards give me diversity it makes sure that I'm not being charged for currency conversion drives me out of my mind when I'm buying something in London and I'm getting whacked on a conversion price back in the US dollars that doesn't happen to me because I have one in British pounds nananananana