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credit card rewards

This week’s money news

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This week’s top story: The hidden cost of helping friends earn more credit card rewards. In other news: 6 LGBTQ+ celebrations around the world worth a trip, how to use credit cards to save money on gas, and white house extends key student loan forgiveness deadline.

The Hidden Cost of Helping Friends Earn More Credit Card Rewards
Credit card rewards earned with your spending aren’t taxable, but you could owe taxes when you refer friends to a card and get a bonus.

6 LGBTQ+ Celebrations Around the World Worth a Trip
Celebrate Pride worldwide all year round, and see some sights while you’re at it.

How to Use Credit Cards to Save Money on Gas
The best cards for gas earn at least 3x back at the pump, and they don’t feature names of big oil companies or service station brands.

Act Now: White House Extends Key Student Loan Forgiveness Deadline
You now have until June 30 (instead of April 30) to consolidate certain federal student loans — and potentially get loan forgiveness in September (instead of July).

Q&A: Closing accounts won’t help your credit scores

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Dear Liz: I have an 834 credit score, with three credit cards. I don’t carry debt or pay annual fees. I’m considering closing one of my cards and replacing it with one available through my credit union. Is it worth the hassle?

Answer: Closing accounts won’t help your credit scores and may hurt them. If there’s no compelling reason to close a card, you might consider leaving the account open and using the card occasionally to prevent the issuer from closing it.

You also might want to rethink your stance on annual fees. These days, few cards without annual fees offer rewards, while many cards offer rewards that more than offset their fees. If you’re new to the rewards card world, consider getting a simple cash-back card. If you’re interested in travel benefits, look for a card that gives you points that you can transfer to frequent traveler programs.

If you’re determined to close the account and open another, apply for the new card first since the closure may drop your scores.

This week’s money news

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This week’s top story: How to set good money examples for kids. In other news: Cyber Monday sales, 5 credit card rewards pitfalls to avoid this holiday season, how NYC crackdown on Airbnb, Vrbo-style rentals affects travelers.

How to Set Good Money Examples for Kids
Your money-related actions and conversations can model positive behaviors for kids, from toddlers to teenagers.

Skipped Black Friday? Today’s Cyber Monday Sales Offer Second Chance
NerdWallet monitored prices on 10 popular products at Amazon, Target and Walmart during every major sale period of 2023.

5 Credit Card Rewards Pitfalls to Avoid This Holiday Season
All credit card points and the possible ways to redeem them aren’t created equal. Here’s what to avoid to get the best value.

How NYC Crackdown on Airbnb, Vrbo-Style Rentals Affects Travelers
New York City travelers look for alternative lodging options now that restrictions on short-term rentals are being enforced.

This week’s money news

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This week’s top story: Smart Money podcast on saving on Disney trips, and self-employed retirement. In other news: How a credit card saved me over $1,100 on a home remodel, 5 times credit card rewards aren’t worth it, and as Fed resumes rate hikes, Chair Powell isn’t ‘optimistic’ yet.

Smart Money Podcast: Saving on Disney Trips, and Self-Employed Retirement
Unlock the magic of making your next Disney vacation more affordable with insider tips from travel Nerd Sally French.

How a Credit Card Saved Me Over $1,100 on a Home Remodel
A ‘triple-threat’ credit card, combined with a high-yield savings account, helped me defray a portion of the project.

5 Times Credit Card Rewards Aren’t Worth It (and 1 Rule Breaker)
Using a rewards credit card for purchases can put money back in your pocket, but not always. Knowing when to pay with cash can result in savings, too.

As Fed Resumes Rate Hikes, Chair Powell Isn’t ‘Optimistic’ — Yet
Still targeting inflation, the Federal Reserve has raised the federal funds rate a quarter of a percentage point to a range of 5.25% to 5.50%.

This week’s money news

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This week’s top story: Smart Money podcast on end of credit card rewards, and luxury credit cards. In other news: December mortgage rates, how high-interest ‘rent-a-bank’ loans sidestep state rate caps, and lifetime income.

Smart Money Podcast: The End of Credit Card Rewards, and When to Cancel Luxury Credit Cards
This week’s episode starts with a discussion about the potential end of credit card rewards.

December Mortgage Rates May Seek Calm After Turbulent Year
Interest rates on fixed-rate mortgages could stabilize or even drift lower in December.

How High-Interest ‘Rent-a-Bank’ Loans Sidestep State Rate Caps
Rent-a-bank loans are online loans that may charge triple-digit APRs in states that cap interest rates on small loans.

Save for ‘Retirement’? Generate Lifetime Income Instead
Money News & Moves: Also, Google pays for tracking us, and crypto isn’t broken.

This week’s money news

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This week’s top story: Smart Money podcast on  In other news: 5 ways to save money on holiday shopping this season, 6 ways to boost your credit card rewards this holiday season, and why booking travel on your phone is a bad idea.

5 Ways to Save Money on Holiday Shopping This Season
Consumers face a lot of pressure this year, but there are strategic ways to cut costs.

6 Ways to Boost Your Credit Card Rewards This Holiday Season
The holidays are synonymous with spending. With a little planning, savvy consumers can earn bonus miles, points or cash back this holiday season.

Why Booking Travel on Your Phone Is a Bad Idea
Comparing booking options is key when it comes to finding the best travel deals. That’s harder to do on your phone.