Also, figure out if an annual fee makes sense. Some cards charge one in exchange for certain services or privileges. For instance, say your airline card charges $95 per year, for which you earn miles for every purchase. But how many miles are you really getting? If you’re collecting only a fifth of a ticket, you might be better off with a no-annual-fee, lower/no-perks card. On the other hand, if you’re racking up a couple of free tickets per year, 95 bucks seems like a pretty good deal. Just take a second and analyze if the perks make sense before you go ga-ga over them.
Nicole Lapin is an Accredited Investment Fiduciary and personal finance expert appearing on the TODAY show and MSNBC, among others.
Excerpted from: RICH BITCH, by Nicole Lapin. Copyright © 2015 Nicole Lapin. Rich Bitch is a trademark used under license from Nothing but Gold Productions. Inc. Published by Harlequin. Reprinted with permission. Buy the book.
Find out more about this book:Rich Bitch: A Simple 12-Step Plan for Getting Your Financial Life Together...Finally