>> WELCOME BACK TO
CHEDDAR NEWS THIS FINANCIAL
FITNESS SEGMENT IS SPONSORED BY
LENDINGTREE SHOP AND COMPARE
LOANS CREDIT
CARDS INSURANCE. AND MORE NOW
CREDIT CARD REWARDS CAN HELP A
LOT DURING THE HOLIDAY SEASON,
BUT NOT EVERYONE
TAKES ADVANTAGE OF THESE TYPES
OF REWARDS SAY WE'RE GOING TO
TELL YOU EVERYTHING YOU NEED TO
KNOW ABOUT THESE
WORDS AND JOINING US TO DISCUSS
IS MATT SCHULZ CHIEF CREDIT
ANALYST
AT LENDINGTREE AND MATT IF YOU
CAN PLEASE BREAK DOWN WHAT KIND
OF CREDIT CARD REWARDS ARE OUT
THERE IN THE FIRST PLACE.
>> YEAH THERE'S A LOT OF
CHOICES OUT THERE AND A LOT OF
GOOD OFFERS BUT IT REALLY COMES
DOWN TO CASH BACK VERSUS POINTS
AND MILES AND WHILE 0.2 MILES
10 2. GET THE HAZLETT WINDS AND
MAYBE A LITTLE SEXIER IS PEOPLE
KIND OF DREAM ABOUT CHEAPER
FLIGHTS TO THE MALL, THE
OBSERVER OF PARIS MOST PEOPLE
REALLY
JUST WANT CASH BACK IT'S ONE OF
THE FEW THINGS THAT WE AS A
COUNTRY TEND TO AGREE ON FOR
THE MOST PART AND IT'S BEEN
THAT WAY FOR YEARS.
>> SO HOW MUCH CAN INDIVIDUALS
MISS OUT ON BY NOT UTILIZING
THEIR CREDIT CARD REWARDS.
HUNDREDS OF DOLLARS IF
NOT MORE OR IF YOU THINK ABOUT
SPENDING $10,000 ON A
CREDIT CARD IN A GIVEN YEAR
WHICH IS A LITTLE LESS THAN A
$1000 A MONTH. IF YOU GET
2% CASH BACK ON THAT $10,000 TO
ABOUT
$200 AND DEPENDING ON THE
RETURN ON YOUR CAR DEPENDING ON
HOW MUCH
YOU SPEND THEY COULD BE
SIGNIFICANTLY MORE
THAN THAT. SO IF YOU'RE NOT
TAKING ADVANTAGE OF THOSE
CREDIT
CARD REWARDS. YOU REALLY DOING
YOURSELF A DISSERVICE AND
MISSING AN OPPORTUNITY TO
EXTEND YOUR BUDGET A
LITTLE BIT. NOW LENDINGTREE
RESEARCHERS RECENTLY SET OUT TO
FIND OUT HOW CREDIT CARD REWARD
USAGE VARIES BY STATE AND
HAWAII CAME IN AT NUMBER ONE SO
WHY DO SOME STATES UTILIZE
THESE AWARDS MORE THAN OTHERS.
A LOT OF THAT OUT OF NECESSITY
I THINK A LOT OF THE STATES
THAT WE SAW BID TENDED TO USE
REWARDS.
THE MOST WE'RE A HIGHER COST OF
LIVING AND HIGHER INCOME STATES
AND IN PLACES
LIKE THAT. THEY'VE MADE THEIR
FINANCIAL MARGIN FOR ERROR MAY
BE A LITTLE SMALLER BIG KUZ
IT'S SUCH A HIGH COST OF LIVING
BUT BECAUSE OF THEIR
HIGHER INCOME. THEY MAY HAVE A
LITTLE MORE ACCESS TO HIGHER
CREDIT LIMITS FOR CREDIT CARDS
IN MAY BE HIGHER
AND REWARDS. SO THAT MAY BE A
LITTLE BIT OF A DRIVER
AS TO WHY THOSE FOLKS ARE USING
REWARDS TOO. WELL THE STUDY
FOUND THAT SOUTHERN STATES ARE
LESS LIKELY TO TAKE ADVANTAGE
OF CREDIT CARD
REWARDS SO WHY IS THAT AND DO
YOU THINK THEY SHOULD BE
UTILIZING THESE AWARDS MORE.
THEY CERTAINLY COULD BE USING
THEIR
REWARDS MORE INS AGAIN A LOT OF
THAT RELATES TO IN COM
AS WELL BECAUSE LOWER-INCOME
FOLKS MAYBE A LITTLE MORE
LIKELY TO HAVE SMALLER
FINANCIAL MARGIN FOR ERROR
LIVING PAYCHECK TO PAYCHECK
LIVING ON
A BUDGET AND THEIR BIGGER
CONCERN THEN.
REWARDS MAY BE PAYING DOWN THAT
DEBT AND THEY MAY BE FOCUSING A
LITTLE MORE
ON THINGS LIKE BALANCE TRANSFER
CREDIT CARDS RATHER
THEN WARDS, BUT THE TRUTH IS
DID IT THEY HAVE PAID DOWN
THEIR DEBT THEN REWARDS KEN
CERTAINLY HELP BECAUSE
IN THE LITTLE BIT CAN REALLY
HELP EXTEND YOUR BUDGET WHEN
YOU'RE LIVING PAYCHECK TO
PAYCHECK. NOW WHAT ADVICE DO
YOU HAVE FOR GETTING THE MOST
OUT OF YOUR CREDIT CARD
REWARDS.
BEST
CREDIT CARD IS THE ONE THAT
FITS YOUR LIFESTYLE, THE BEST
IT'S THE ONE DID MATCHES
UP WITH WHAT YOUR
GOALS ARE AND HOW YOU TEND
TO SPEND BECAUSE AS MUCH AS
GOOD AS REWARDS CAN BE AS
LUCRATIVE AS THEY CAN BE
THE LAST THING WE NEED TO DO IS
OVERSPEND TO GET THEM SO IF YOU
CAN FIND THE
RIGHT CARD THAT FITS YOUR
LIFESTYLE BEST AND REWARDS YOU
THE MOST FOR THINGS THAT YOU
BUY
THE MOST THAT'S REALLY THE NEW
MAGIC FORMULA.
MATT SCHULZ CHIEF CREDIT
ANALYST AT LENDINGTREE MAY
THANK YOU SO MUCH FOR COMING