“He was a wise man who invented beer.” – Plato

If you’ve been listening for any length of time you know that we like craft beer. But booze can be a polarizing subject. We’ve had emails from folks who say they like our show, but just can’t continue to listen because of our stance on alcohol. At least in some circles, beer can be polarizing and the same thing is true when it comes to the use of credit cards. There isn’t much logical, nuanced, or balanced conversation when it comes to credit cards- they’re either the greatest thing since sliced bread or they’ll ruin you overnight. But the reality is a bit more nuanced. Yes, there are certainly a number of downsides to using credit cards like paying interest and how they might encourage overspending which we’ll discuss today. We’ll also cover if we think using credit cards is ethical. But simultaneously you can’t deny the many benefits that come with responsible credit card use: the ability to help establish a solid credit score, the additional consumer protections they offer, the bountiful rewards, and much more. Plus we’ll explain a basic three card optimization strategy that will work for most folks- have a listen!

  • Credit Card Tool – Looking for the right credit card for you? Then check out our new credit card tool that’ll help you to easily filter through all the cards based on your preferred airline, whether or not they have an annual fee, or simply by the cash back offer! Just toggle the sliders and you’ll know which card to consider.
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During this episode we enjoyed The Judge by Memphis Made Brewing- thanks Ben & Rachael for donating this one to the podcast! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

* Advertiser Disclosure: How to Money has partnered with CardRatings for our coverage of credit card products. How to Money and CardRatings may receive a commission from card issuers.
* User Generated Content Disclosure: Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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4 comments on “Using Credit Cards as Nature Intended – Episode 629

  1. Matthew Feb 9, 2023

    We have our Fidelity 2% dump into our kids’ 529 accounts. It adds up quickly and we get the state tax deduction on the contributions.

    • I love it! That card really does rock. It’s the perfect way to use credit card rewards.

  2. Sydney Feb 13, 2023

    Hey there,
    You mentioned needing to spend $380 a month to get the fee back for this card. My husband and I were crunching numbers and seemed to come up with a much lower number. Could you describe your math on the $380? Thanks so much, we love the show and all the guidance and thought you bring to personal finance!

    • Sydney, we goofed and you’re right!!!

      I got my numbers wrong but it looks like it should be an annual spend of $3,200 on groceries in order to earn back enough to cover the cost of the annual fee. So that means spending an avg of $267 a month for the Blue Cash Preferred to be worth it. Every dollar spent above that means more cash back in your pocket!