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Should Kids Have A Credit Card?

giving kids a credit card

It’s pretty safe to say that we won’t get giving our daughter a credit card for her 8th birthday next month. I can’t believe how fast eight years have passed, and I bet the next eight will go by even faster. While I’d like to bury my head in oblivion, we are getting to the point where financial and life education are very important. Hopefully, our daughter will be as smart as possible about the real world before we turn her loose to become a productive member of society. Part of that will include learning about debt and credit cards. The question today is, should kids have a credit card? Pros of Giving Kids A Credit Card Hands On Financial Education By giving kids a credit card while they still live at home, parents can keep tabs and set limits. The first credit card would likely be a joint venture between child and parent, which would allow family discussions about credit limits, interest rates, purchases, payments, and how to decipher a credit card statement. Building Credit Many pros suggest giving kids a credit card to build credit, but I don’t agree with that. Kids will have plenty of time to ...

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Why I Love Credit Cards

Beaches in South Kauai

Last week I booked a $700+ per night hotel in the Bahamas for 4 nights over Thanksgiving break. Before you crucify me as a bad financial example, let me share how much I’m actually paying. Thanks to the Chase Ink credit card and a 70,000 point offer that was available last fall, we will only be paying $155.23. Yes, that’s $31.05 per night for a luxury hotel room on a beach in the Caribbean. We plan to fly there using Southwest points and a companion pass. I haven’t booked those tickets yet, but it looks like the cost will be around $300 in taxes for the three of us. This is why I love credit cards. I Am Smarter Than Credit Card Companies As I’ve written about many times, we used to be dumb when it came to using credit responsibly, running up over $30,000 in credit card debt before we graduated from Debt City University. While I don’t necessarily remember those times with glee, one thing I can say about digging deep to pay off the credit debt is that there is ABSOLUTELY NO WAY we will ever pay a penny in credit card interest ever again. I am ...

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Choice Hotels Credit Card Review

Free hotel in Manhattan

If you read some of the more popular travel blogs, you can find many ways to get free hotel nights. It seems that every blogger is looking for that aspirational redemption, using credit card reward points to stay in some of the most luxurious and expensive hotels in the world for pennies on the dollar. I certainly can appreciate that. After all, we recently returned from a visit to the Grand Hyatt Kauai. However, most of us aren’t frequent travelers. We don’t have international trips planned every other month, and we don’t necessarily value  luxury amenities like heated toilet seats and valet parking. In other words, we are looking for decent places to sleep that are close to our destination. We also don’t want to tip out the wazoo for someone to carry our bags and park our car. One of the workhorse hotel chains my family uses is the Choice hotel company. For those of you who are looking into free or reduced cost hotel stays, the Choice hotel credit card might be a good fit for your travel plans. Choice Hotel Family Choice hotels have a ton of properties all over the world. Their brand includes Comfort Inn, ...

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Hawaiian Airlines Credit Card Review

free flights to Hawaii

Hawaii is often at the top of the list when it comes to vacation destinations. With almost perfect weather year round and more beaches than you can count, it’s easy to see why Hawaii is such a popular destination. If you have a family, it can be really challenging to make plane tickets work for your budget. We are pretty much limited to taking our big trips around Christmas, spring break, or summer vacation. Seasoned travelers know this as “peak season” and buying flights is usually most expensive during this time. Yes, you can sometimes find a sale or mistake fare, but if you’re like me, you want to plan vacations well in advance. This is where points and miles can get take you to places you might not be able or willing to spend money on otherwise. My family of three is in Hawaii right at this moment thanks to the Hawaiian Airlines credit card. Hawaiian Airlines World Elite Master Card From Barclay When you are approved for this card, you’ll receive 35,000 Hawaiian Airlines miles after spending $1000 on the card in the first 90 days of account opening. There is an annual fee of $89 that is ...

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US Airways Credit Card Review: Two Flights for $90!

Dividend Miles for free flights

Word about our credit card churning adventures has started to get out among some of our close friends. I don’t really talk about it much except on my blog, but Jim has been telling his morning basketball buddies about our free travel. When you first find out about travel hacking, it sounds either like voodoo or something illegal, but when I explain to them how we’ve gotten to take  almost free vacations and how we are about to visit Hawaii in champagne style on a beer budget, they want in. Churning the US Airways Credit Card A big problem for some people want to start churning is the amount of spending you have to do to hit some of the larger bonuses. If you don’t have many big expenses and aren’t interested in manufactured spending or using Bluebird to pay bills, it’s hard to churn for free travel. However, the US Airways credit card from Barclay just made it lots easier to get cheap airfare. With this card, $90 gets you 40,000 Dividend Miles, enough for two domestic flights! What 40,000 Dividend Miles Can Do The US Airways Premier World Mastercard does have an $89 fee that is not waived, but after the ...

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