One of the reasons why we're covering this topic is because there's a common misconception that the more credit cards and rewards you have, the more debt there is.
The Ask Sebby community consists of financially responsible people, but there's the other end of the spectrum of people with little self-control.
With the holidays coming up, we're receiving more requests to recommend balance transfer cards. I'm a firm believer of paying off your cards in full every month. If you're playing the minimum payment game, pay off your debt first before requesting a card consultation.
The iPhone X is a good example. I know some people who can't afford the phone outright and plan on paying 20% interest each month with their credit card. This means that you're paying a premium to buy the iPhone X. In my opinion, getting into debt for the latest phone is not worth it unless you can somehow turn a profit from it.
Credit cards are like alcohol. If you don't have self-control, you can become an alcoholic quickly. However, if you know your limits and drink responsibly, then alcohol is not a nemesis.
At the end of the day, you should only get a credit card if you pay off your cards in full each month. Don't make the mistake of getting into debt during the holidays.
The best Amazon Prime day deals 2018.
Marriott and SPG will roll out their merged program and rewards starting on August 1, 2018. If you have SPG Starpoints, they'll be converted to Marriott Rewards at a 1:3 ratio. We'll cover the optimal strategy on how to use Starpoints if you have a redemption in mind.
Ask Sebby covers a wide range of topics from credit 101 to advance optimization strategies, but the mistake I often see is beginners trying to implement advance level strategies when they have a thin credit file.
American Express has a handful of underrated perks that don't get the attention they deserve. The great thing about these "secret" perks is that you can have any core American Express or co-branded card to take advantage of them.
The cards in my wallet rotate each month depending on if I received a new card to meet minimum spend requirements, a retention offer, or trying to optimize for a 5% cash back category.
Roundup of reminders for Q3: Plenti program ending, Marriott vacation packages to be replaced on August 1, and remember to activate cash back quarters.
A list of signup bonuses that have increased or available for a limited time. The Marriott Rewards card has a 100k offer until 7/12/2018, Barclays Arrival Plus is back with a 60k offer, and the Capital One Venture card adds a $100 Global Entry/TSA Precheck credit.
A cash advance is when you withdraw cash from your credit card, typically using an ATM or bank transaction. The limit to how much cash you can withdraw from the credit card is a cash advance limit.
The Citi ThankYou Premier card is comparable to the Chase Sapphire Preferred since it earns points on travel and dining. The Citi ThankYou Premier card has a 50,000 point signup bonus after you spend $4,000 within the first three months of account opening.
American Express Platinum card recently added a new benefit to give all cardmembers a $100 statement credit to Saks Fifth Avenue, issued in $50 increments every six months. Here’s how to activate the Amex Platinum $100 Saks credit.