Episode Description:

This week’s show is part two of our rewards versus cash-back credit cards showdown that we started on the podcast last week. Today, we’re looking at whether it makes sense to continue using cash-back credit cards at specific stores, even if you’re already using rewards credit cards for most of your purchases in order to earn points.

I often see people having one or a few great points-earning credit cards that they use strategically to optimize their points potential in specific categories (like getting three Chase points for every dollar spent on dining), but they also continue to use cash-back credit cards for certain purchases (like having a Target card that they only use for purchases from Target with a 5% cashback rate).

So, is hanging on to these store-specific credit cards and using them despite not earning points and miles from these purchases a good idea? Tune in this week to discover a framework for deciding whether you could be further ahead by using store-specific cash-back credit cards for certain purchases, or whether you’d be better off using your rewards cards for the same purchases.

What You’ll Learn from this Episode:

• Some of the cash-back offers available from store-specific cash-back credit cards.
• How some people can end up ahead using store-specific cash-back credit cards, rather than putting all of your spending on rewards cards.
• 3 things you need to consider when objectively evaluating the benefits of points cards versus cash-back.
• Why it’s important to get clear on why you’re using store-specific credit cards for your purchases at those stores.
• A framework for comparing the value you get from store-specific cash-back credit cards versus using rewards cards for the same purchases.
• An amazing strategy to maximize the rewards points available from specific categories of stores.
• My step-by-step process for applying this framework and doing the math for your specific purchases.

Click here to download full episode transcript

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