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Making the most of credit card perks

February 11, 2009 3:08:51 PM PST
How can you get the most out of all those points you get with your credit cards?The recession has us all looking for ways to stretch our dollar, and those points can be helpful. But credit card companies are making some changes you need to know about.

Steve and Eileen Gorkin take full advantage of the perks they receive from racking up those credit card points, like free hotel visits and airline tickets.

But financial experts say credit card holders will have to adjust to fewer rewards, because programs are the latest casualty of the economic crisis. Consumers will likely see shorter expiration periods, higher redemption fees and earning caps on rewards. They will all be put into place in 2009.

Financial planner Doug Flynn says credit card companies won't tell you when they're changing terms of the agreement, and they can do it at any time.

He says the bottom line is to ask yourself if the credit card fees are worth the rewards.

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WEB PRODUCED BY: Bill King

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