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If your goal is to get out of personal debt (student loans, car loans) or save money in the short term to invest (IRA, 401K, downpayment on a house), then getting no annual fee credit cards with high cash back rewards for category spend in your best option. As long as you pay off your balances every month, you cannot do it wrong. There is no risk and no cost.

If you re comfortable and confident that you can use credit cards that earn miles and points correctly AND you know you will redeem those points and miles for hotel and airfare you were going to spend the cash equivalent on anyways, then acquiring some annual fee cards might be in your best interest.

The third option is people who redeem points and miles for "free" dream vacations. The problem with this is that all points and miles have an opportunity cost cash out equivalent value. Basically, if you were never willing to pay whatever that equivalent dollar value is in opportunity cost for a flight or hotel with cash or a debit card, then you shouldn't be redeeming points and miles either. It is not free.

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DISCLAIMER:
This video is for entertainment purposes only. I am not in any way acting as an agent or representative of the Department of Defense or United States Federal Government when presenting this information. I am not a legal or financial expert or have any authority to give legal or financial advice. While all the information in this video is believed to be accurate at the time of its recording, realize this channel and its author makes no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this video.

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