Friday Flight - Retreating Rewards, New Tax Brackets, & Workplace TRAPs #582

Tool Launch

Matt Altmix and Joel Larsgaard introduce their new credit card tool, designed to help users find the best credit card offers based on their specific needs. The tool allows for easy filtering by various criteria, such as airline rewards, no annual fees, and 0% transaction fees for international travel. Matt and Joel are excited about the tool's potential to become a one-stop shop for credit card seekers.

We have just launched the How to Money credit card tool up on the website. It allows you to see all of the different credit card offers that are out there and easily filter what it is that you're looking for.

--- Matt Altmix

Joel emphasizes that the tool can quickly help users find the card that makes the most sense for them, considering everyone's spending habits and needs are different 1.

   

Card Strategies

Matt and Joel discuss various strategies for maximizing credit card rewards, such as earning airline miles or cashback. They caution listeners to be disciplined with their credit card usage, as interest rates are currently over 18%, the highest in 30 years. For those in credit card debt, they recommend focusing on paying off balances rather than acquiring new cards.

Credit cards can provide amazing benefits for folks who are disciplined. But credit card interest rates are on the rise, currently over 18%, the highest in 30 years.

--- Matt Altmix

Joel adds that credit cards can be a double-edged sword, offering great rewards but also posing risks if not managed properly 2.

   

Debt Warnings

The hosts warn about the dangers of accumulating credit card debt, noting that Americans now owe 13% more on their credit cards than a year ago. They highlight the importance of paying off balances to avoid high interest rates and suggest using tools like Undebt.it to create a debt repayment plan. Joel also mentions the recent student loan forgiveness application and its deadlines.

If you're in credit card debt, you don't need a new card. You need to put your current one on ice and get a plan to pay that balance off as soon as possible.

--- Matt Altmix

Matt and Joel stress the urgency of addressing credit card debt to prevent it from draining financial resources 3.