David Shelhammer is a credit card reward enthusiast.
He believes collecting credit card rewards or cash back from using credit cards can be a lucrative hobby.
David admits, along with our roundtable panelists, that they aren’t for everyone and you need to be in the position to take advantage of rewards rather than the reward cards taking advantage of you. Point collectors need to be able to pay off the credit card statement every month or the rewards become less lucrative.
Other considerations when selecting a rewards credit card:
- Decide if you prefer to get cash back or rewards points
- Be selective with the types of credit cards you choose for reward programs
- Be aware of the expenses that may come along with rewards cards
- Watch the fine print and be aware of redemption restrictions
- Some cards pay higher rewards at certain stores or through specific companies
For a quick bio of each of our show participants, head on over to our panelists page.