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Best of the Web: Cash is King

June 2009

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Charlie Stroller heads the parent company of Financial Advisor Magazine and is a self-avowed penny pincher. His regular column in FA Magazine, “Cheap Tricks,” is full of great ways to save and make money. He recently highlighted a nearly no-brainer credit card deal: the cash back card.

If you are disciplined about paying your credit card balance in full and on time, and if you regularly run most of your day-to-day expenses through your credit card, you should switch to a cash-back card. Stroller highlights deals from Amex and Chase, but many other credit card issuers are offering similar cards. Some send you a regular check, others give you a credit you can use against purchases, some even deposit cash directly into your bank or brokerage account.

Consumer Reports has helpful tips for analyzing which deals are best for you. Bankrate.com posts an excellent survey of cash back cards, including hidden traps to be wary of and provides a search engine that can help you compare deals from different issuers.

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Past results are not indicative of future performance. Outside sources used in this article are believed but not guaranteed to be accurate. Examples provided are for illustrative purposes only and are not representative of intended results that a client should expect to achieve.