00:00 Speaker A
Another thing that we got from uh listeners was this notion of credit card points and people chasing credit cards and racking up points and trying to get the best deal for their credit cards. Any thoughts, Rian about like
00:13 Rian
Yeah. Yeah, I mean look, I I think just the transparency is really hard, right, as a consumer today. And I think, you know, as we see the credit card fees going up, I think the consumer is looking for value. Um and I think the question is, you know, where are you getting the most value? Um are is it worth paying the $200, $300, $400 and getting these points? Like are you going to use them? Um or are you actually better with a more of a no-frills card? And and I think that’s where I think as the consumer, you need to be a lot more focused on are you getting, like are those perks actually worth it to you?
00:46 Speaker A
Yeah.
00:47 Speaker C
And what you were kind of commenting on, there are some people who are specialists. They do it as a job and really work the kind of credit card system. What I say for my clients is back to what’s most important to you? Do you enjoy traveling? Get a travel card. You want money back? Get a money back card and be very mindful of paying it off every month so that you’re not incurring those high double digit.
01:07 Speaker A
Yeah, I was going to mention that was that it, right? If you keep your balance, it almost offsets the benefit of having the points, right?
01:12 Speaker C
Yes, exactly.
01:13 Speaker D
I think I think you really hit on the point which is pay your balance off every month and understand yourself, right? If you’re someone who is not going to pay that off every month, then you might actually be better off with a debit card, even if you don’t get the same amount of points or something like that. Making sure that you don’t outspend what you have. But if you’re someone who has, let’s say the ability to pay that off each month, then points are effectively free, right? Then at that point it makes sense to use them and find the card that’s best for you.