Quit Chasing Brownie Points

Cheryl wants to leave a credit card open to earn the rewards. Her husband wants to close the card. Is she just asking for trouble?

QUESTION: Cheryl in South Dakota wants to leave a credit card open to earn the rewards. Her husband wants to close the card. Is she just asking for trouble? Dave says yes and offers a debit card rewards program as a solution.

ANSWER: You’re asking for trouble because it never works out the way you think it’s going to work out. The only thing I would consider is getting a debit card that has some rewards to it. Many debit card programs have similar rewards to the credit card programs. Quit trying to chase these stupid brownie points.

Think about this; 78% of airline miles are never redeemed, according to Consumer Reports. That’s almost all of them. The whole thing is a myth; you’re trying to catch a unicorn. Put your effort into something worthwhile and clean up the stupid cards. Get them out of your life.