Ten Key Principles for Getting the Most from Your Credit Cards

The article outlines ten essential rules for credit card rewards, emphasizing the importance of paying off balances to avoid interest, maintaining good payment history, and being cautious about canceling cards. It also advises cardholders to maximize bonus categories, consider cards with annual fees for their benefits, and seek retention offers before closing accounts. Additionally, it highlights the need to avoid foreign transaction fees and to understand welcome bonus requirements to fully capitalize on rewards.

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The piece draws on the expertise of Nick Ewen, who personally manages more than two dozen credit cards. His guidance emphasizes that carrying balances undermines the entire rewards strategy, since interest charges typically outweigh any points or miles earned. The author also notes that some cards offer temporary zero-interest introductory periods, but these do not eliminate the need for disciplined repayment habits.

Beyond basic payment discipline, the article stresses strategic card management. Ewen recommends aligning card choices with personal spending patterns to capture bonus categories, and suggests that annual fees can be worthwhile when benefits exceed costs. He also advises readers to request retention offers before closing accounts and to understand welcome bonus requirements