How To Manage Credit Card Points And Debt

Chris Hutchins has over 10 million credit card points. He started his journey more than a decade ago with an initial goal of 1 million points. For Chris and his wife Amy, credit card rewards allow him to indulge in travel, something he loves but would never otherwise splurge on. Here are his top 3 tips for managing credit cards.

1) Pay off your credit cards in full each month. Chris stresses that before getting into the credit card rewards game you should make sure you're comfortable paying your debt off in full every month. According to Chris and other personal finance experts, "There's no amount of points that is worth taking on interest payments for your credit cards. Most of these points earning credit cards have pretty high interest rates."

2) Don't overspend just to earn points. According to Chris, "earning credit card points isn't free," but assuming you're already spending money and you aren't spending more than you would to get points you are getting a return over spending with a debit card or cash.

3) Don't close older credit cards. Two factors that impact your credit score are the amount you're spending relative to the total amount of credit available and the average age of your accounts.

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How To Manage Credit Card Points And Debt

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