Credit card rewards help our family save money on groceries, petrol and other necessities. We also use rewards for airline tickets, hotel rooms and airport lounge access.
We are in good company. Most Americans have at least one rewards card, and about half of rewards cardholders are using their perks to help offset rising inflation, according to a 2022 Wells Fargo survey.
But a recent review of our cards revealed that some are no longer worth their annual fees or have been eclipsed by better offerings.
Credit card fees, reward rates and benefits change all the time. So do the ways we spend our money, which means a card that used to be a good fit may no longer work as well.
Given all that, it is not surprising that fewer than a third of credit card users feel that they are making the most of their rewards cards, according to JD Power’s 2022 US Credit Card Satisfaction study.
An annual review of our credit cards helps to ensure we are getting properly rewarded.
Create a rewards tracker
First, a few caveats. Rewards credit cards make sense for our family because we pay them off in full every month. If we did not, the cost of interest would more than offset the value of any rewards.
Also, you do not need to be as obsessed with rewards as we are to benefit. A simple cashback rewards card can save you money without a lot of hassle.
Once we had a few cards, I found it helpful to start using a spreadsheet to keep track of each card’s annual fee, renewal date, “earn rate” (such as 6 per cent cash back on groceries) and other relevant benefits.
Every year or so, I update this spreadsheet with the value of rewards we have earned and redeemed, as well as current information about annual fees and benefits.
If I have used points to book a flight or cashed in a free hotel night certificate, for example, I will include the value of the travel. With cashback cards, I type in the dollar value redeemed during the year.
Some cards provide a helpful year-end summary; otherwise, I can check rewards activity month by month by logging into the account online.
Investigate card benefits
Investigating all of a card’s perks may require logging into your account with a web browser rather than a mobile app, since account information is often more detailed using a browser.
There is typically a tab or link that leads you to a rewards dashboard that summarises your earn rate and highlights any additional benefits such as complimentary food delivery subscriptions or credits that cover airline fees or offset the cost of streaming services.
I add the dollar totals for benefits I have used to the spreadsheet and make a note on my calendar to use up any remaining credits before the perk resets.
Many credits must be used within a calendar year but some reset on the card’s anniversary date.
I also note other benefits that do not necessarily have a price tag but still have significant value, such as travel insurance, elite status perks at a hotel chain or airline, or extended warranties on purchases.
If I am considering closing an account that has, for example, primary rental car insurance – the kind where you do not have to alert your car insurer if you are in an accident – I will be sure to replace it with a card that has similar benefits.
Decide each card’s fate
By this point, I can see which cards are more than offsetting their annual fees and which are not.
For example, one of our premium cards jacked up its annual fee, again, and I discovered we were not using enough of its benefits to justify the cost.
Closing accounts can hurt your credit scores, unfortunately. That should not keep you from ditching a card that is not serving you, but consider asking for a “product change” to one of the issuer’s other cards that might be a better fit.
This usually avoids a hit to your credit scores. Some product changes allow you to keep your rewards but many do not, so have a plan for using up any points or miles before you switch.
Then again, product changes generally do not allow you to benefit from one of the biggest rewards card perks – sign-up bonuses.
To enjoy these bonuses, you generally need to apply for a new account. In return, you can receive a big wad of points if you spend a certain amount within a certain period, say 80,000 points if you spend $4,000 within three months of the account’s opening.
Often, this is the best way to add the most rewards in the shortest period but applications can temporarily ding credit scores, so I generally limit applications to once or twice a year.
I use credit card comparison tools and read reviews of new card offerings to see what is available.
Once I decide whether to close a card or ask for a product change, I put a note on my calendar to contact the issuer two weeks before the annual fee renews.
The last thing I do before closing my laptop is make a date with myself a year from now to do this review all over again.
Change is constant in the credit card world, and I want to make sure we continue to get the most out of our plastic.
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
UAE currency: the story behind the money in your pockets
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A cryptocurrency primer for beginners
Cryptocurrency Investing for Dummies – by Kiana Danial
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Available at Magrudy’s , Dh104
List of officials:
Referees: Chris Broad, David Boon, Jeff Crowe, Andy Pycroft, Ranjan Madugalle and Richie Richardson.
Umpires: Aleem Dar, Kumara Dharmasena, Marais Erasmus, Chris Gaffaney, Ian Gould, Richard Illingworth, Richard Kettleborough, Nigel Llong, Bruce Oxenford, Ruchira Palliyaguruge, Sundaram Ravi, Paul Reiffel, Rod Tucker, Michael Gough, Joel Wilson and Paul Wilson.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Hotel Data Cloud profile
Date started: June 2016
Founders: Gregor Amon and Kevin Czok
Based: Dubai
Sector: Travel Tech
Size: 10 employees
Funding: $350,000 (Dh1.3 million)
Investors: five angel investors (undisclosed except for Amar Shubar)
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
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%3Cp%3ECompany%20name%3A%20Znap%3C%2Fp%3E%0A%3Cp%3EStarted%3A%202017%3C%2Fp%3E%0A%3Cp%3EFounder%3A%20Uday%20Rathod%3C%2Fp%3E%0A%3Cp%3EBased%3A%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3EIndustry%3A%20FinTech%3C%2Fp%3E%0A%3Cp%3EFunding%20size%3A%20%241m%2B%3C%2Fp%3E%0A%3Cp%3EInvestors%3A%20Family%2C%20friends%3C%2Fp%3E%0A
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
If you go
The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.
UAE currency: the story behind the money in your pockets
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A Prayer Before Dawn
Director: Jean-Stephane Sauvaire
Starring: Joe Cole, Somluck Kamsing, Panya Yimmumphai
Three stars
Killing of Qassem Suleimani
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
ENGLAND%20SQUAD
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UAE currency: the story behind the money in your pockets
