1 00:00:02,060 --> 00:00:05,540 (Transcribed by TurboScribe.ai. Go Unlimited to remove this message.) Welcome to the Business Credit and Financing Show. 2 00:00:06,020 --> 00:00:08,460 Each week, we talk about the growth strategies 3 00:00:08,460 --> 00:00:10,260 that matter most to entrepreneurs. 4 00:00:11,000 --> 00:00:13,600 Listen in as we discuss the secrets to 5 00:00:13,600 --> 00:00:16,400 getting credit and money to start and grow 6 00:00:16,400 --> 00:00:17,240 your business. 7 00:00:17,460 --> 00:00:19,820 And enjoy as we talk with seasoned business 8 00:00:19,820 --> 00:00:22,680 owners, coaches, and industry leaders on a variety 9 00:00:22,680 --> 00:00:25,700 of topics from advertising and marketing to the 10 00:00:25,700 --> 00:00:28,140 nuts and bolts of running a highly successful 11 00:00:28,140 --> 00:00:28,720 business. 12 00:00:29,040 --> 00:00:31,340 And now, to introduce the host of our 13 00:00:31,340 --> 00:00:35,300 show, financial expert and award-winning author, Ty 14 00:00:35,300 --> 00:00:36,040 Crandall. 15 00:00:36,640 --> 00:00:37,900 Hello, and thanks for joining us today. 16 00:00:38,020 --> 00:00:41,020 I am really, really excited for today's interview 17 00:00:41,020 --> 00:00:43,240 because, you know, we talk a lot about 18 00:00:43,240 --> 00:00:43,820 business credit. 19 00:00:43,960 --> 00:00:45,960 We talk a lot about the incentives that 20 00:00:45,960 --> 00:00:48,100 business credit has and credit cards in general 21 00:00:48,100 --> 00:00:50,840 and rewards points and so many benefits of 22 00:00:50,840 --> 00:00:53,100 using credit cards for so many different reasons. 23 00:00:53,440 --> 00:00:54,780 But this is the first time we've ever 24 00:00:54,780 --> 00:00:57,260 had an expert on to really talk about 25 00:00:57,260 --> 00:00:59,620 these incentives, to talk about rewards, to talk 26 00:00:59,620 --> 00:01:02,760 about frequent fire mob, frequent fire rewards, amongst 27 00:01:02,760 --> 00:01:04,700 so many other rewards you could get just 28 00:01:04,700 --> 00:01:06,960 for using credit cards regularly. 29 00:01:07,520 --> 00:01:09,820 And today, we've got like the guy, the 30 00:01:09,820 --> 00:01:11,860 foremost expert on this topic. 31 00:01:12,240 --> 00:01:13,780 With us today is Julian Keel. 32 00:01:14,440 --> 00:01:17,200 Now, Julian is the CEO and founder of 33 00:01:17,200 --> 00:01:20,360 TripSight Incorporated, an innovative company that is dedicated 34 00:01:20,360 --> 00:01:23,380 to enhancing the travel experience through tools that 35 00:01:23,380 --> 00:01:26,640 simplify the use of frequent fire rewards. 36 00:01:27,100 --> 00:01:30,360 Recently, TripSight launched PointsPath, which is the first 37 00:01:30,360 --> 00:01:34,700 browser extension that seamlessly integrates flight prices in 38 00:01:34,700 --> 00:01:37,660 miles into Google flight search results, which is 39 00:01:37,660 --> 00:01:38,100 super cool. 40 00:01:38,400 --> 00:01:41,300 Empowering travelers to make informed decisions when to 41 00:01:41,300 --> 00:01:43,340 best utilize their travel rewards. 42 00:01:43,600 --> 00:01:46,460 Now, he has over 15 years of professional 43 00:01:46,460 --> 00:01:49,960 experience studying credit cards and travel loyalty programs. 44 00:01:50,340 --> 00:01:53,640 Julian has served as CNN's senior editor, covering 45 00:01:53,640 --> 00:01:56,520 travel and credit cards and as the editorial 46 00:01:56,520 --> 00:01:58,800 director to The Points Guy. 47 00:01:58,800 --> 00:02:01,300 His expertise has also led him to consult 48 00:02:01,300 --> 00:02:03,680 for some of the largest airlines in the 49 00:02:03,680 --> 00:02:06,960 industry, further solidifying his reputation as a leading 50 00:02:06,960 --> 00:02:08,259 authority in the field. 51 00:02:08,720 --> 00:02:11,400 Julian first learned the intricacies of credit card 52 00:02:11,400 --> 00:02:14,280 rewards and travel loyalty programs while flying more 53 00:02:14,280 --> 00:02:17,500 than 200,000 miles a year as a 54 00:02:17,500 --> 00:02:21,120 TV producer and director of World Wrestling Entertainment. 55 00:02:21,380 --> 00:02:23,740 As a respected analyst, Julian has shared his 56 00:02:23,740 --> 00:02:27,140 insights on national television segments for CNN, Bloomberg 57 00:02:27,140 --> 00:02:31,720 News, CNBC, Squawk Box, Yahoo Finance, and Cheddar 58 00:02:31,720 --> 00:02:32,000 TV. 59 00:02:32,420 --> 00:02:35,420 He's also been featured on ABC and CBS 60 00:02:35,420 --> 00:02:37,940 radio, and his expertise has been cited in 61 00:02:37,940 --> 00:02:41,220 major publications, including the Washington Post, the Wall 62 00:02:41,220 --> 00:02:43,320 Street Journal, and the Chicago Tribune. 63 00:02:43,640 --> 00:02:45,800 Now, with his extensive experience and commitment to 64 00:02:45,800 --> 00:02:48,160 helping others navigate the world of travel, Julian 65 00:02:48,160 --> 00:02:50,600 Keel is poised to make a lasting impact 66 00:02:50,600 --> 00:02:52,400 in the travel loyalty landscape. 67 00:02:52,580 --> 00:02:54,260 Julian, man, you've done so much. 68 00:02:54,520 --> 00:02:55,720 We could go on for hours. 69 00:02:57,240 --> 00:02:58,700 Thanks for being here. 70 00:02:59,300 --> 00:03:01,440 I mean, Ty, when you put it that 71 00:03:01,440 --> 00:03:02,880 way, it does sound like a lot. 72 00:03:03,000 --> 00:03:05,260 Yeah, thank you for having me. 73 00:03:05,320 --> 00:03:06,600 I'm really thrilled to be here. 74 00:03:06,900 --> 00:03:08,700 Well, it's interesting because a lot of guests 75 00:03:08,700 --> 00:03:10,440 come across the show because we've been around 76 00:03:10,440 --> 00:03:11,740 for a while and have a lot of 77 00:03:11,740 --> 00:03:12,420 downloads, et cetera. 78 00:03:12,800 --> 00:03:14,240 And when I saw yours, I'm like, I 79 00:03:14,240 --> 00:03:16,020 don't get giddy often, right? 80 00:03:16,200 --> 00:03:18,720 I get giddy because I talk about these 81 00:03:18,720 --> 00:03:21,660 stuff with my loose level of knowledge all 82 00:03:21,660 --> 00:03:23,340 the time, the importance of what you do, 83 00:03:23,340 --> 00:03:25,460 but we've never had someone with your level 84 00:03:25,460 --> 00:03:25,840 of knowledge. 85 00:03:25,920 --> 00:03:27,660 I just can't tell you how excited I 86 00:03:27,660 --> 00:03:28,840 am here for you to come and share 87 00:03:28,840 --> 00:03:29,420 with us today. 88 00:03:29,860 --> 00:03:30,700 Well, thank you. 89 00:03:30,760 --> 00:03:32,300 Listen, I'm excited to talk about it. 90 00:03:32,360 --> 00:03:34,400 I think there's so much opportunity out there 91 00:03:34,400 --> 00:03:37,540 for people to really do something with their 92 00:03:37,540 --> 00:03:39,700 rewards, be collecting them if they're not, especially 93 00:03:39,700 --> 00:03:40,880 if they're a small business owner. 94 00:03:41,060 --> 00:03:43,180 There's a whole ton to talk about. 95 00:03:43,280 --> 00:03:44,420 So yeah, let's get rolling. 96 00:03:44,920 --> 00:03:46,020 So let's talk about it from a business 97 00:03:46,020 --> 00:03:46,760 owner's perspective. 98 00:03:46,940 --> 00:03:48,640 I mean, our audience in large part are 99 00:03:48,640 --> 00:03:52,520 entrepreneurs and we understand the value of credit 100 00:03:52,520 --> 00:03:52,840 cards. 101 00:03:52,840 --> 00:03:56,020 What we don't all understand is the intricacies 102 00:03:56,020 --> 00:03:59,020 and depth of the other perks of those 103 00:03:59,020 --> 00:04:01,600 credit cards other than helping us with cashflow. 104 00:04:01,820 --> 00:04:04,520 So from your perspective, what are some of 105 00:04:04,520 --> 00:04:08,000 the most overlooked benefits, perks, or incentives of 106 00:04:08,000 --> 00:04:10,420 credit cards that most are not taking advantage 107 00:04:10,420 --> 00:04:10,580 of? 108 00:04:10,800 --> 00:04:12,900 Right, so the first thing I always tell 109 00:04:12,900 --> 00:04:15,959 entrepreneurs and small business owners is, if you 110 00:04:15,959 --> 00:04:18,160 are not earning some sort of a rewards 111 00:04:18,160 --> 00:04:21,060 on your credit card spend, you should really 112 00:04:21,060 --> 00:04:22,200 be taking a look at it. 113 00:04:22,200 --> 00:04:24,780 Even if it's a simple cash back or 114 00:04:24,780 --> 00:04:27,180 whatever it might be, there's something there that 115 00:04:27,180 --> 00:04:29,340 you can be adding to your business and 116 00:04:29,340 --> 00:04:31,540 making another piece of it. 117 00:04:31,740 --> 00:04:34,200 Now, when it comes to travel rewards, if 118 00:04:34,200 --> 00:04:36,140 you are a traveler or if you have 119 00:04:36,140 --> 00:04:38,840 employees who travel and you want to use 120 00:04:38,840 --> 00:04:41,300 a rewards for them, it can really be 121 00:04:41,300 --> 00:04:43,180 lucrative to collect them on credit cards. 122 00:04:43,260 --> 00:04:45,240 That is by far the biggest perk and 123 00:04:45,240 --> 00:04:46,100 the most popular one. 124 00:04:46,240 --> 00:04:48,580 There are other perks as well if you're 125 00:04:48,580 --> 00:04:51,560 dedicated to a particular airline, getting free checked 126 00:04:51,560 --> 00:04:54,040 bags, things like that, lounge access if you 127 00:04:54,040 --> 00:04:55,180 want to be treated like a more of 128 00:04:55,180 --> 00:04:55,800 an elite VIP. 129 00:04:56,360 --> 00:04:59,440 And then there's lots of other insurance coverage. 130 00:04:59,720 --> 00:05:01,620 A lot of people ask about travel insurance. 131 00:05:02,060 --> 00:05:04,800 Some of the best travel insurance is available 132 00:05:04,800 --> 00:05:07,400 on credit cards and it's free. 133 00:05:07,500 --> 00:05:09,500 It's included in the price of the package. 134 00:05:09,700 --> 00:05:11,380 So there's a lot of perks that we 135 00:05:11,380 --> 00:05:13,020 can talk about it, but those are the 136 00:05:13,020 --> 00:05:15,240 main ones that are sort of table stakes 137 00:05:15,240 --> 00:05:17,660 that any business credit card that you're going 138 00:05:17,660 --> 00:05:19,480 to go into from a major issuer, you're 139 00:05:19,480 --> 00:05:21,820 probably going to have one or more of 140 00:05:21,820 --> 00:05:22,320 those. 141 00:05:22,560 --> 00:05:24,600 So if we look at travel incentives and 142 00:05:24,600 --> 00:05:26,740 I travel a lot, I fly American Airlines 143 00:05:26,740 --> 00:05:28,140 a lot, I stay in Marriott a lot. 144 00:05:28,540 --> 00:05:30,460 So then for someone like me as a 145 00:05:30,460 --> 00:05:32,360 common sense thing, what is the next step 146 00:05:32,360 --> 00:05:32,580 to do? 147 00:05:32,780 --> 00:05:34,420 Should I go get an American Airlines credit 148 00:05:34,420 --> 00:05:34,700 card? 149 00:05:35,020 --> 00:05:36,280 And then there's a lot of them to 150 00:05:36,280 --> 00:05:37,340 choose from, so I don't even know which 151 00:05:37,340 --> 00:05:37,680 one. 152 00:05:38,080 --> 00:05:39,460 And then do I go get a Marriott 153 00:05:39,460 --> 00:05:39,880 credit card? 154 00:05:39,980 --> 00:05:41,160 A lot to choose from, which one? 155 00:05:41,340 --> 00:05:42,800 What should someone like me do and how 156 00:05:42,800 --> 00:05:44,100 do I know which are the best cards 157 00:05:44,100 --> 00:05:45,100 that work the best for me? 158 00:05:45,320 --> 00:05:46,400 Yep, that's a great question. 159 00:05:46,580 --> 00:05:48,540 And it's really the first question everyone asks 160 00:05:48,540 --> 00:05:50,080 is which card should I pick? 161 00:05:50,520 --> 00:05:52,360 I always say my piece of advice is 162 00:05:52,360 --> 00:05:55,300 start reverse engineer and start with, well, what 163 00:05:55,300 --> 00:05:56,440 is it that I want? 164 00:05:56,760 --> 00:05:57,680 What do I value? 165 00:05:57,900 --> 00:06:00,640 Is it when I'm on American, I want 166 00:06:00,640 --> 00:06:02,840 to be treated better or have to pay 167 00:06:02,840 --> 00:06:03,700 fewer fees? 168 00:06:04,000 --> 00:06:05,780 That may be the case if you're a 169 00:06:05,780 --> 00:06:07,120 regular American flyer. 170 00:06:07,440 --> 00:06:09,260 If you're not a regular American flyer or 171 00:06:09,260 --> 00:06:11,060 you only go once, maybe twice a year, 172 00:06:11,120 --> 00:06:12,620 maybe that's not the right choice. 173 00:06:13,120 --> 00:06:16,480 When it comes to travel points broadly, oftentimes 174 00:06:16,480 --> 00:06:19,520 the best first choice is what we call 175 00:06:19,520 --> 00:06:22,060 a card that earns flexible points. 176 00:06:22,460 --> 00:06:23,940 So in other words, if you get a 177 00:06:23,940 --> 00:06:26,320 credit card that's an American Airlines credit card, 178 00:06:26,380 --> 00:06:29,000 you're gonna be earning American Airlines miles, right? 179 00:06:29,280 --> 00:06:31,100 And those miles aren't really gonna be usable 180 00:06:31,100 --> 00:06:33,420 on any other airline other than American and 181 00:06:33,420 --> 00:06:34,020 its partners. 182 00:06:34,220 --> 00:06:35,520 But if you get a card that has 183 00:06:35,520 --> 00:06:37,740 flexible points, and some examples of this would 184 00:06:37,740 --> 00:06:41,740 be Chase's Ultimate Rewards credit cards, American Express's 185 00:06:41,740 --> 00:06:44,580 Membership Rewards credit cards, all the major issuers 186 00:06:44,580 --> 00:06:46,420 have a flexible points program. 187 00:06:46,680 --> 00:06:48,820 Those are points that, one, you can use 188 00:06:48,820 --> 00:06:51,820 just to book travel straight through on the 189 00:06:51,820 --> 00:06:52,640 bank's website. 190 00:06:53,040 --> 00:06:54,940 And in that case, you can book pretty 191 00:06:54,940 --> 00:06:56,880 much any flight, any hotel you want with 192 00:06:56,880 --> 00:06:57,340 your points. 193 00:06:57,440 --> 00:07:00,320 Or each of those issuers has a set 194 00:07:00,320 --> 00:07:03,580 list of airline and hotel partners that you 195 00:07:03,580 --> 00:07:06,400 can then transfer your points to when you 196 00:07:06,400 --> 00:07:08,120 need them, when you can find a better 197 00:07:08,120 --> 00:07:11,100 deal on that airline itself using their points 198 00:07:11,100 --> 00:07:11,520 or miles. 199 00:07:11,520 --> 00:07:14,860 So as an example, Chase Ultimate Rewards has 200 00:07:14,860 --> 00:07:18,020 as part of its partner list United Airlines. 201 00:07:18,460 --> 00:07:21,120 If I wanna transfer 1,000 Chase points 202 00:07:21,120 --> 00:07:24,520 to United, I could get 1,000 United 203 00:07:24,520 --> 00:07:26,240 miles on the other end, and the transfer 204 00:07:26,240 --> 00:07:26,980 is instant. 205 00:07:27,220 --> 00:07:29,420 Now, knowing when to transfer and when to 206 00:07:29,420 --> 00:07:31,380 book direct is a little bit of a 207 00:07:31,380 --> 00:07:33,800 game, because you can maximize your value depending 208 00:07:33,800 --> 00:07:35,880 on what's available, and that is where a 209 00:07:35,880 --> 00:07:37,900 tool like PointsPath that we make comes into 210 00:07:37,900 --> 00:07:38,220 play. 211 00:07:38,580 --> 00:07:40,820 But the key is that those points can 212 00:07:40,820 --> 00:07:43,140 be used, those flexible bank points can be 213 00:07:43,140 --> 00:07:45,220 used much more broadly, and that is often 214 00:07:45,220 --> 00:07:47,920 where I suggest people start when they're looking 215 00:07:47,920 --> 00:07:49,280 for a business credit card. 216 00:07:49,520 --> 00:07:51,760 So I'm looking at a Chase account that 217 00:07:51,760 --> 00:07:54,580 has multiple airlines I fly with, that by 218 00:07:54,580 --> 00:07:57,160 using that Chase card that I'm actually getting 219 00:07:57,160 --> 00:07:59,520 points that I can apply to multiple different 220 00:07:59,520 --> 00:08:01,440 airlines as an example is a good place 221 00:08:01,440 --> 00:08:01,860 to start. 222 00:08:02,360 --> 00:08:03,180 That's exactly right. 223 00:08:03,340 --> 00:08:05,160 Now, the next question though that you asked 224 00:08:05,160 --> 00:08:06,780 is if I'm looking at a Chase card, 225 00:08:06,880 --> 00:08:07,020 right? 226 00:08:07,120 --> 00:08:09,660 Okay, well, there's probably a dozen Chase cards, 227 00:08:09,660 --> 00:08:11,720 at least three or four that are business 228 00:08:11,720 --> 00:08:13,800 exclusive cards, so which do I choose? 229 00:08:14,000 --> 00:08:16,280 And that's when you, again, you reverse engineer 230 00:08:16,280 --> 00:08:18,040 it and say, well, what do I spend 231 00:08:18,040 --> 00:08:19,380 the most money on? 232 00:08:19,460 --> 00:08:21,400 What does my business expenses look like? 233 00:08:21,760 --> 00:08:23,320 Do I have a lot of spend on 234 00:08:23,320 --> 00:08:24,160 office supplies? 235 00:08:24,280 --> 00:08:26,120 Do I have a lot of spend on 236 00:08:26,120 --> 00:08:29,220 online marketing and advertising like Facebook spend, that 237 00:08:29,220 --> 00:08:29,640 sort of thing? 238 00:08:29,880 --> 00:08:32,000 Or do I not really have any one 239 00:08:32,000 --> 00:08:34,220 category in particular, and I just want to 240 00:08:34,220 --> 00:08:36,880 earn an overall good number of points for 241 00:08:36,880 --> 00:08:37,860 every dollar I spend? 242 00:08:38,260 --> 00:08:40,020 That's when then you would look at Chase's, 243 00:08:40,260 --> 00:08:41,860 their business cards are called their ink line 244 00:08:41,860 --> 00:08:43,860 of cards, I-N-K, and you'd say, 245 00:08:44,060 --> 00:08:47,100 okay, for each of those situations, there's a 246 00:08:47,100 --> 00:08:48,920 different ink card that would be appropriate. 247 00:08:49,140 --> 00:08:50,600 So you need to do a little bit 248 00:08:50,600 --> 00:08:53,200 of sitting down, figuring out what's your priority, 249 00:08:53,660 --> 00:08:56,180 and then look at the options and find 250 00:08:56,180 --> 00:08:57,540 the one that matches best. 251 00:08:58,040 --> 00:09:00,240 Sure, so if I'm looking at a major 252 00:09:00,240 --> 00:09:01,960 credit card, let's say I fly American a 253 00:09:01,960 --> 00:09:04,600 lot, then in that case, and I'm like, 254 00:09:04,660 --> 00:09:06,300 I know I want points in American, am 255 00:09:06,300 --> 00:09:08,560 I better off to go towards an American 256 00:09:08,560 --> 00:09:10,800 Airlines type of credit card, or go to 257 00:09:10,800 --> 00:09:13,140 one that still gives me the flexibility? 258 00:09:13,440 --> 00:09:15,760 Meaning, do I lose out on the flexibility 259 00:09:15,760 --> 00:09:18,020 because I'm not really honing in on one 260 00:09:18,020 --> 00:09:19,640 airline, and am I better to go get 261 00:09:19,640 --> 00:09:21,420 a card that just focuses on that airline 262 00:09:21,420 --> 00:09:23,940 versus the flexible points if I know I'm 263 00:09:23,940 --> 00:09:25,200 gonna fly one particular airline? 264 00:09:25,800 --> 00:09:28,160 So that's a great question because there's two 265 00:09:28,160 --> 00:09:28,900 ways to look at it. 266 00:09:29,000 --> 00:09:31,440 One is that the points themselves generally more 267 00:09:31,440 --> 00:09:32,860 flexible is better. 268 00:09:32,980 --> 00:09:34,480 So on that hand, I would say a 269 00:09:34,480 --> 00:09:35,200 flexible card. 270 00:09:35,660 --> 00:09:37,560 But if you really are tied to a 271 00:09:37,560 --> 00:09:40,240 particular airline and you really are on it, 272 00:09:40,400 --> 00:09:42,400 say once a month or once every couple 273 00:09:42,400 --> 00:09:45,060 of months, a regular basis, then the money 274 00:09:45,060 --> 00:09:47,880 you're gonna save with that airline's credit card 275 00:09:47,880 --> 00:09:50,840 is probably going to outweigh any flexibility you 276 00:09:50,840 --> 00:09:52,800 can get from a flexible points card. 277 00:09:52,940 --> 00:09:55,380 Meaning, for instance, if you're on American once 278 00:09:55,380 --> 00:09:57,260 a quarter, let's even say, and you're checking 279 00:09:57,260 --> 00:09:59,820 a bag each way, the American card is 280 00:09:59,820 --> 00:10:01,920 gonna waive that checked bag fee, assuming you 281 00:10:01,920 --> 00:10:04,420 don't already have elite status with American, it's 282 00:10:04,420 --> 00:10:05,800 gonna waive that checked bag fee. 283 00:10:06,300 --> 00:10:08,460 And so that's gonna be saving 35 bucks 284 00:10:08,460 --> 00:10:10,340 each direction on every trip. 285 00:10:10,600 --> 00:10:12,220 The annual fee on that card is only 286 00:10:12,220 --> 00:10:14,020 95 bucks or 99 bucks. 287 00:10:14,300 --> 00:10:16,340 So you're in just the two trips gonna 288 00:10:16,340 --> 00:10:18,220 make back the money you're paying for that 289 00:10:18,220 --> 00:10:18,740 annual fee. 290 00:10:19,020 --> 00:10:21,000 So in that case, it would be probably 291 00:10:21,000 --> 00:10:23,040 wiser to get the airline's credit card. 292 00:10:23,200 --> 00:10:24,600 Of course, the other thing to keep in 293 00:10:24,600 --> 00:10:26,480 mind is there is no reason that you 294 00:10:26,480 --> 00:10:28,780 only have to have one credit card for 295 00:10:28,780 --> 00:10:29,280 your business. 296 00:10:29,540 --> 00:10:31,400 There's no reason you couldn't have both an 297 00:10:31,400 --> 00:10:34,420 American card and use it just for when 298 00:10:34,420 --> 00:10:35,440 you're traveling on American. 299 00:10:35,640 --> 00:10:37,060 You can literally even put it in a 300 00:10:37,060 --> 00:10:39,980 drawer when you're not traveling and then have 301 00:10:39,980 --> 00:10:41,700 that flexible credit card that you use for 302 00:10:41,700 --> 00:10:43,080 your actual business purchases. 303 00:10:43,360 --> 00:10:45,640 That's another strategy and a totally valid one. 304 00:10:46,020 --> 00:10:47,420 Sure, and that makes a lot of sense. 305 00:10:47,520 --> 00:10:49,300 And that's why you're saying you really need 306 00:10:49,300 --> 00:10:50,840 to think about what you want from them. 307 00:10:50,920 --> 00:10:53,040 Because it's American, I can get checked bags 308 00:10:53,040 --> 00:10:53,540 for free. 309 00:10:53,680 --> 00:10:54,660 I can get status. 310 00:10:54,780 --> 00:10:57,340 They can automatically upgrade me to first class 311 00:10:57,340 --> 00:10:59,080 or I could just get a bunch of 312 00:10:59,080 --> 00:11:00,860 miles that I could use to buy travel. 313 00:11:00,860 --> 00:11:03,520 So by knowing even within the airline, it's 314 00:11:03,520 --> 00:11:05,300 not just that I fly American, I kind 315 00:11:05,300 --> 00:11:07,080 of want to know what I want out 316 00:11:07,080 --> 00:11:07,560 of that. 317 00:11:07,880 --> 00:11:09,820 And then I can kind of gravitate towards 318 00:11:09,820 --> 00:11:11,400 a car that gives me more of that 319 00:11:11,400 --> 00:11:14,500 free upgrades to first class over things like 320 00:11:14,500 --> 00:11:15,820 free checkbacks, for example. 321 00:11:16,140 --> 00:11:17,060 That's exactly right. 322 00:11:17,100 --> 00:11:18,640 And again, it doesn't have to be an 323 00:11:18,640 --> 00:11:21,260 either or situation because there's nothing stopping you 324 00:11:21,260 --> 00:11:23,020 from having both credit cards. 325 00:11:23,420 --> 00:11:25,040 But it does come down to each one 326 00:11:25,040 --> 00:11:26,720 of these cards do generally come with an 327 00:11:26,720 --> 00:11:27,440 annual fee. 328 00:11:27,720 --> 00:11:28,760 And you don't want to be paying an 329 00:11:28,760 --> 00:11:30,480 annual fee if you're not getting value from 330 00:11:30,480 --> 00:11:30,920 the card. 331 00:11:31,120 --> 00:11:32,460 So for instance, if you were to get 332 00:11:32,460 --> 00:11:35,640 American's high end card which gives you lounge 333 00:11:35,640 --> 00:11:38,240 access, access to the Admirals Clubs whenever you're 334 00:11:38,240 --> 00:11:40,520 traveling on American, that could be worth it. 335 00:11:40,640 --> 00:11:42,360 But if you're only if you're using it 336 00:11:42,360 --> 00:11:44,600 because that card runs five, $600 a year. 337 00:11:44,860 --> 00:11:45,980 So you want to make sure you're actually 338 00:11:45,980 --> 00:11:48,080 using that benefit otherwise you're kind of burning 339 00:11:48,080 --> 00:11:49,120 that money for no reason. 340 00:11:49,300 --> 00:11:51,340 That's really the one thing to keep in 341 00:11:51,340 --> 00:11:52,880 mind if you're getting multiple cards. 342 00:11:53,000 --> 00:11:55,060 And people sometimes say, well, if I get 343 00:11:55,060 --> 00:11:56,780 multiple cards isn't that going to hurt my 344 00:11:56,780 --> 00:11:57,080 credit? 345 00:11:57,440 --> 00:11:58,340 No, not really. 346 00:11:58,340 --> 00:12:00,440 Not one if you use them responsibly and 347 00:12:00,440 --> 00:12:02,320 pay your balance in full every month which 348 00:12:02,320 --> 00:12:05,260 your business certainly should be doing and avoiding 349 00:12:05,260 --> 00:12:06,300 large high interest rates. 350 00:12:06,540 --> 00:12:08,120 But also because you're not going to want 351 00:12:08,120 --> 00:12:10,860 to have those annual fees taking over your 352 00:12:10,860 --> 00:12:11,200 life. 353 00:12:11,660 --> 00:12:13,380 And the credit scores will take a hit 354 00:12:13,380 --> 00:12:15,740 very briefly when you get a new card, 355 00:12:15,860 --> 00:12:18,120 just a few points for a few weeks 356 00:12:18,120 --> 00:12:19,080 maybe a month or two. 357 00:12:19,380 --> 00:12:20,540 And then we'll come right back to where 358 00:12:20,540 --> 00:12:21,180 you started. 359 00:12:21,600 --> 00:12:24,680 Frankly, more credit cards that are used responsibly 360 00:12:24,680 --> 00:12:27,420 end up with a higher credit score in 361 00:12:27,420 --> 00:12:28,040 the long run. 362 00:12:28,040 --> 00:12:30,820 So it's not something to worry about as 363 00:12:30,820 --> 00:12:32,520 long as you're using credit responsibly. 364 00:12:33,040 --> 00:12:33,140 Sure. 365 00:12:33,460 --> 00:12:34,040 Yeah, it makes sense. 366 00:12:34,120 --> 00:12:35,800 I mean, utilization is like 30% of 367 00:12:35,800 --> 00:12:38,040 the score well more than like inquiries at 368 00:12:38,040 --> 00:12:38,500 10%. 369 00:12:38,500 --> 00:12:40,220 So if you're, you know, coming in and 370 00:12:40,220 --> 00:12:41,680 adding a bunch of available credit it's going 371 00:12:41,680 --> 00:12:43,080 to help more than just having like one 372 00:12:43,080 --> 00:12:43,960 little inquiry on there. 373 00:12:44,160 --> 00:12:45,740 Will you talk about, I think this is 374 00:12:45,740 --> 00:12:47,460 where it gets confusing for us as business 375 00:12:47,460 --> 00:12:48,900 owners is that I do it all. 376 00:12:49,060 --> 00:12:50,180 I travel on airlines. 377 00:12:50,420 --> 00:12:51,740 I travel in hotels. 378 00:12:52,180 --> 00:12:54,020 I buy office supplies. 379 00:12:54,380 --> 00:12:56,080 I'm not as big in the fuel side. 380 00:12:56,120 --> 00:12:57,740 So I don't care about incentives on fuel. 381 00:12:57,740 --> 00:12:59,620 I don't care about incentives on groceries. 382 00:12:59,840 --> 00:13:01,600 Like that stuff doesn't apply to me in 383 00:13:01,600 --> 00:13:02,140 the business world. 384 00:13:02,500 --> 00:13:04,480 So for somebody like me that I'm like, 385 00:13:04,560 --> 00:13:06,400 wow, I mean I spend money in all 386 00:13:06,400 --> 00:13:07,180 these different areas. 387 00:13:07,580 --> 00:13:09,400 Then should I really be looking at something 388 00:13:09,400 --> 00:13:12,060 that gives me cash back or points for 389 00:13:12,060 --> 00:13:13,320 every dollar I spend? 390 00:13:13,440 --> 00:13:14,980 Like what's the best way to go from 391 00:13:14,980 --> 00:13:17,200 somebody that's using those cards for multiple different 392 00:13:17,200 --> 00:13:17,600 reasons? 393 00:13:18,040 --> 00:13:19,640 One of the ways that people do do 394 00:13:19,640 --> 00:13:22,600 that is to have multiple cards and use 395 00:13:22,600 --> 00:13:25,740 each one for the exact purpose that they 396 00:13:25,740 --> 00:13:27,040 can maximize their points. 397 00:13:27,040 --> 00:13:28,680 So in your case, if you had a 398 00:13:28,680 --> 00:13:30,420 card that earned say five points per dollar 399 00:13:30,420 --> 00:13:31,940 on office supplies and you had a lot 400 00:13:31,940 --> 00:13:33,720 of office supplies you might get that card 401 00:13:33,720 --> 00:13:36,020 and use it only for office supplies and 402 00:13:36,020 --> 00:13:37,420 then have a different card that you'd use 403 00:13:37,420 --> 00:13:39,760 for travel and a different card for all 404 00:13:39,760 --> 00:13:41,180 other expenses, that sort of thing. 405 00:13:41,380 --> 00:13:42,500 And that's something you can do. 406 00:13:42,560 --> 00:13:43,880 Now you don't wanna get crazy with that 407 00:13:43,880 --> 00:13:45,560 and have 20 different credit cards, of course 408 00:13:45,560 --> 00:13:47,540 but it wouldn't be unusual to say, here 409 00:13:47,540 --> 00:13:50,100 are three cards that I know what my 410 00:13:50,100 --> 00:13:51,180 purposes are for. 411 00:13:51,260 --> 00:13:53,420 And it's covering most of my expenses. 412 00:13:53,560 --> 00:13:55,680 So I know I'm maximizing my rewards. 413 00:13:55,680 --> 00:13:57,040 That's another way to do it. 414 00:13:57,420 --> 00:13:59,100 A third way to do it is to 415 00:13:59,100 --> 00:14:01,080 get a catch-all card that sort of 416 00:14:01,080 --> 00:14:03,460 will give you the best of all as 417 00:14:03,460 --> 00:14:05,740 good as you can get across all worlds 418 00:14:05,740 --> 00:14:08,300 for a very simple flat rates. 419 00:14:08,480 --> 00:14:11,820 For instance, the Chase Inc Unlimited earns 1 420 00:14:11,820 --> 00:14:13,960 .5% cashback on everything you buy. 421 00:14:14,060 --> 00:14:15,820 Now the secret of that card is that 422 00:14:15,820 --> 00:14:17,840 if you have any other Chase card that 423 00:14:17,840 --> 00:14:21,100 also earns travel points the cashback off that 424 00:14:21,100 --> 00:14:23,800 Inc Unlimited can convert into travel points and 425 00:14:23,800 --> 00:14:25,320 then you can use them as travel points. 426 00:14:25,320 --> 00:14:27,600 So that effectively means you'd be earning 1 427 00:14:27,600 --> 00:14:29,620 .5 points for every dollar you spend and 428 00:14:29,620 --> 00:14:30,780 can use them for travel. 429 00:14:30,900 --> 00:14:33,100 Again, you'd need to have two cards for 430 00:14:33,100 --> 00:14:34,900 that but it's a good way to say, 431 00:14:35,040 --> 00:14:36,700 okay, well, here's the card that I use 432 00:14:36,700 --> 00:14:38,860 for travel and then here's the card I 433 00:14:38,860 --> 00:14:40,060 use for everything else. 434 00:14:40,280 --> 00:14:42,140 Those points will combine and I know I'll 435 00:14:42,140 --> 00:14:44,040 be maximizing everything that I have. 436 00:14:44,380 --> 00:14:47,080 That is yet another strategy that people take 437 00:14:47,080 --> 00:14:48,460 when it comes to their small businesses. 438 00:14:49,180 --> 00:14:50,380 I love the concept of what you did 439 00:14:50,380 --> 00:14:51,140 for points, Pat. 440 00:14:51,560 --> 00:14:52,800 Tell me more about how this works. 441 00:14:53,160 --> 00:14:53,900 Yeah, absolutely. 442 00:14:53,900 --> 00:14:55,920 So as you said at the beginning, I've 443 00:14:55,920 --> 00:14:57,160 been doing this for a very long time. 444 00:14:57,260 --> 00:14:58,660 I've worked at a lot of places writing 445 00:14:58,660 --> 00:15:01,640 content trying to help people use their points 446 00:15:01,640 --> 00:15:02,040 and miles. 447 00:15:02,220 --> 00:15:04,320 And over those years, I always wanted there 448 00:15:04,320 --> 00:15:06,300 to be a way that I could help 449 00:15:06,300 --> 00:15:08,820 people do that without having to spend hours 450 00:15:08,820 --> 00:15:12,180 reading all of this educational material on how 451 00:15:12,180 --> 00:15:13,720 to use your points, how to best maximize 452 00:15:13,720 --> 00:15:14,020 them. 453 00:15:14,180 --> 00:15:15,560 A lot of people, when it comes down 454 00:15:15,560 --> 00:15:16,960 to it say, I just don't have time 455 00:15:16,960 --> 00:15:17,360 for that. 456 00:15:17,440 --> 00:15:19,260 I just wanna know the answer, just give 457 00:15:19,260 --> 00:15:19,860 me the answer. 458 00:15:20,080 --> 00:15:21,800 So that's what Points Path is about. 459 00:15:21,940 --> 00:15:23,700 It's about trying to give you the answer 460 00:15:23,700 --> 00:15:27,020 as quickly as possible where you just do 461 00:15:27,020 --> 00:15:28,620 your search, find the answer. 462 00:15:28,740 --> 00:15:29,480 Should I use points? 463 00:15:29,560 --> 00:15:30,740 Should I use miles on this flight? 464 00:15:30,840 --> 00:15:31,520 How many points? 465 00:15:31,860 --> 00:15:32,480 Great, done. 466 00:15:32,580 --> 00:15:33,980 I know what I need to know and 467 00:15:33,980 --> 00:15:35,240 I don't have to spend all my time 468 00:15:35,240 --> 00:15:36,520 researching it and learning it. 469 00:15:36,600 --> 00:15:38,600 The two things that people always have problems 470 00:15:38,600 --> 00:15:41,280 with with their miles, the big frustrations with 471 00:15:41,280 --> 00:15:43,240 frequent flyer programs is that one, they can 472 00:15:43,240 --> 00:15:45,020 never find flights they actually wanna use their 473 00:15:45,020 --> 00:15:47,520 miles on that don't require two stops or 474 00:15:47,520 --> 00:15:48,960 an overnight or whatever it might be. 475 00:15:49,380 --> 00:15:51,440 And two, even when they do, they can't 476 00:15:51,440 --> 00:15:52,840 tell if they're getting a good deal or 477 00:15:52,840 --> 00:15:53,020 not. 478 00:15:53,020 --> 00:15:55,200 And that is another thing about miles. 479 00:15:55,440 --> 00:15:58,400 Every airline's miles are worth a different amount. 480 00:15:58,700 --> 00:16:01,200 So that's where Points Path takes all of 481 00:16:01,200 --> 00:16:02,680 that out of your hands and does it 482 00:16:02,680 --> 00:16:03,360 all for you. 483 00:16:03,840 --> 00:16:05,480 And now a quick break to hear from 484 00:16:05,480 --> 00:16:06,160 our sponsor. 485 00:16:06,860 --> 00:16:08,560 Hey, it's Ty Crandall with Credit Suite. 486 00:16:08,740 --> 00:16:10,920 Many of our subscribers wanna build business credit 487 00:16:10,920 --> 00:16:13,440 that's linked to their EIN without a personal 488 00:16:13,440 --> 00:16:14,460 guarantee or credit check. 489 00:16:14,620 --> 00:16:16,040 Now, if you're looking to get no doc, 490 00:16:16,200 --> 00:16:18,280 high limit business credit cards that report to 491 00:16:18,280 --> 00:16:21,080 the business reporting agencies without a personal guarantee 492 00:16:21,080 --> 00:16:22,960 or credit check, give us a call at 493 00:16:22,960 --> 00:16:25,300 877-600-2487. 494 00:16:25,620 --> 00:16:30,200 That's 877-600-2487, or schedule your free 495 00:16:30,200 --> 00:16:33,280 consultation online to talk more at creditsuite.com 496 00:16:33,280 --> 00:16:34,380 forward slash consult. 497 00:16:34,580 --> 00:16:37,040 We know what each airline's miles are worth. 498 00:16:37,180 --> 00:16:38,980 We know how to do the calculations. 499 00:16:38,980 --> 00:16:41,200 We have live data showing you what the 500 00:16:41,200 --> 00:16:43,460 points prices are all in one simple utility. 501 00:16:43,740 --> 00:16:45,740 And by the way, it is free. 502 00:16:45,920 --> 00:16:47,020 The basic product is free. 503 00:16:47,100 --> 00:16:49,040 We have subscription tiers for more advanced features, 504 00:16:49,040 --> 00:16:51,060 but the basic of what I just mentioned 505 00:16:51,060 --> 00:16:52,400 is entirely free. 506 00:16:52,780 --> 00:16:53,860 How do I get PointsPath? 507 00:16:54,080 --> 00:16:55,280 Oh, yeah, it's real easy. 508 00:16:55,400 --> 00:16:57,100 You can go to pointspath.com. 509 00:16:57,580 --> 00:16:59,520 And from there, you can download the extension. 510 00:16:59,700 --> 00:17:01,560 The extension is also available in the Google 511 00:17:01,560 --> 00:17:02,080 Web Store. 512 00:17:02,180 --> 00:17:04,500 Like all Chrome extensions, it goes through Google's 513 00:17:04,500 --> 00:17:06,380 approval process whenever it's updated. 514 00:17:06,540 --> 00:17:08,700 So you know that it's also secure and 515 00:17:08,700 --> 00:17:10,200 your data is not going to be stolen 516 00:17:10,200 --> 00:17:11,200 or anything like that. 517 00:17:11,500 --> 00:17:13,180 But yeah, pointspath.com, all you gotta do 518 00:17:13,180 --> 00:17:14,560 is download it from there and you're off 519 00:17:14,560 --> 00:17:14,819 and run. 520 00:17:15,140 --> 00:17:17,079 What are some credit cards that you think 521 00:17:17,079 --> 00:17:18,940 are so much of a no-brainer that 522 00:17:18,940 --> 00:17:21,339 like it's just crazy that we don't know 523 00:17:21,339 --> 00:17:22,359 about them or don't have? 524 00:17:22,599 --> 00:17:24,480 Yeah, we've talked already about it a little 525 00:17:24,480 --> 00:17:24,680 bit. 526 00:17:24,859 --> 00:17:25,400 The Chase Inc. 527 00:17:25,500 --> 00:17:27,240 cards, and I'm not a show for Chase 528 00:17:27,240 --> 00:17:28,760 or anything, I just do think they make 529 00:17:28,760 --> 00:17:29,660 a really good product. 530 00:17:30,080 --> 00:17:32,280 They have a great transfer program with airlines 531 00:17:32,280 --> 00:17:35,880 like United, Southwest, foreign carriers like British Airways, 532 00:17:36,080 --> 00:17:36,560 Air Canada. 533 00:17:36,880 --> 00:17:38,280 They're transfer, you can transfer your points. 534 00:17:38,660 --> 00:17:40,440 You also get good value for your points. 535 00:17:40,560 --> 00:17:40,900 The Inc. 536 00:17:41,060 --> 00:17:43,580 Preferred card in particular, for every point you 537 00:17:43,580 --> 00:17:45,420 earn, if you wanna just book straight through 538 00:17:45,420 --> 00:17:48,660 Chase, you'll get 1.25 cents per point 539 00:17:48,660 --> 00:17:49,740 when you redeem them. 540 00:17:49,920 --> 00:17:51,860 So you're getting a bonus on top of 541 00:17:51,860 --> 00:17:53,440 a usual one cent per point. 542 00:17:53,660 --> 00:17:56,580 It's just overall a pretty robust program. 543 00:17:56,840 --> 00:17:58,720 Another one though I do like that's a 544 00:17:58,720 --> 00:18:00,820 very simple, if you're looking for a little 545 00:18:00,820 --> 00:18:03,100 bit of extra perks but wanna keep it 546 00:18:03,100 --> 00:18:05,780 simple, is Capital One Venture X card. 547 00:18:06,080 --> 00:18:08,140 It is a higher priced card, it's about 548 00:18:08,140 --> 00:18:11,520 $400, but it does come with lounge access, 549 00:18:11,860 --> 00:18:14,320 a priority pass lounge membership that gets you 550 00:18:14,320 --> 00:18:16,680 lounge access across 1,300 or 1,400 551 00:18:16,680 --> 00:18:18,220 airports around the world. 552 00:18:18,840 --> 00:18:20,980 Capital One is also building their own lounges. 553 00:18:21,100 --> 00:18:23,020 They have them open already in Dallas and 554 00:18:23,020 --> 00:18:24,480 Denver and places like that. 555 00:18:24,580 --> 00:18:26,320 And you get free access into those lounges 556 00:18:26,320 --> 00:18:27,020 when you're traveling. 557 00:18:27,420 --> 00:18:28,520 But the other thing about the card is 558 00:18:28,520 --> 00:18:31,060 it earns two miles for every dollar you 559 00:18:31,060 --> 00:18:31,880 spend on anything. 560 00:18:32,100 --> 00:18:33,780 So it is a great set it and 561 00:18:33,780 --> 00:18:35,880 forget it solution that you can then use 562 00:18:35,880 --> 00:18:37,180 those miles to book travel. 563 00:18:37,400 --> 00:18:39,560 You can even use Capital One miles to 564 00:18:39,560 --> 00:18:42,960 redeem against travel that you book directly on 565 00:18:42,960 --> 00:18:43,680 the credit card. 566 00:18:44,020 --> 00:18:45,300 So you don't even have to book through 567 00:18:45,300 --> 00:18:46,460 Capital One if you don't want. 568 00:18:46,880 --> 00:18:48,580 And then Capital One has also its own 569 00:18:48,580 --> 00:18:51,480 list of travel partners, airlines and hotels that 570 00:18:51,480 --> 00:18:52,720 can be really lucrative as well. 571 00:18:52,880 --> 00:18:55,360 So those are two business cards that are 572 00:18:55,360 --> 00:18:57,740 I think very simple that also work though 573 00:18:57,740 --> 00:18:59,580 for a lot of different businesses, for a 574 00:18:59,580 --> 00:19:01,060 lot of different entrepreneurs that would be a 575 00:19:01,060 --> 00:19:03,540 good place to start if you're looking to 576 00:19:03,540 --> 00:19:04,720 dip your toe in the water. 577 00:19:05,060 --> 00:19:06,660 The more than one time those credit cards 578 00:19:06,660 --> 00:19:07,500 are getting you in trouble because they get 579 00:19:07,500 --> 00:19:09,020 in those lounges, they get free beer, I 580 00:19:09,020 --> 00:19:09,920 get free food. 581 00:19:10,620 --> 00:19:11,940 They get all comfy. 582 00:19:12,240 --> 00:19:13,200 And then I'm like, oh my gosh. 583 00:19:13,340 --> 00:19:15,160 And I almost was like, true story, I 584 00:19:15,160 --> 00:19:16,320 don't know about you, but like I've almost 585 00:19:16,320 --> 00:19:18,240 legitimately lost my flight because of the comfort 586 00:19:18,240 --> 00:19:18,740 of some of them. 587 00:19:19,900 --> 00:19:21,320 They do get a little addictive. 588 00:19:21,580 --> 00:19:23,600 So, and eventually if you lose the lounge 589 00:19:23,600 --> 00:19:24,920 access, then you're sitting in the airport. 590 00:19:25,020 --> 00:19:26,040 You're like, what am I doing here? 591 00:19:26,080 --> 00:19:26,480 What's happening? 592 00:19:26,700 --> 00:19:27,780 I see those people too. 593 00:19:27,860 --> 00:19:29,460 They get very angry when they come in 594 00:19:29,460 --> 00:19:31,860 and they realize that their lounge access is 595 00:19:31,860 --> 00:19:32,160 gone. 596 00:19:32,320 --> 00:19:33,000 They're very upset. 597 00:19:34,600 --> 00:19:37,020 Yeah, they're gonna have to go sit in 598 00:19:37,020 --> 00:19:37,460 the terminal. 599 00:19:37,640 --> 00:19:38,340 Exactly, yeah. 600 00:19:38,340 --> 00:19:40,440 So you also mentioned, and I think this 601 00:19:40,440 --> 00:19:41,860 is interesting because there's so many perks that 602 00:19:41,860 --> 00:19:42,760 people just don't know about. 603 00:19:42,940 --> 00:19:44,540 And you mentioned, and so we started out 604 00:19:44,540 --> 00:19:45,600 talking about travel insurance. 605 00:19:46,060 --> 00:19:48,060 So tell us what travel insurance is and 606 00:19:48,060 --> 00:19:48,740 how it works. 607 00:19:48,780 --> 00:19:50,000 Because this is one of those perks, I 608 00:19:50,000 --> 00:19:51,700 just think most business owners and a lot 609 00:19:51,700 --> 00:19:53,240 of people using it in personal cards just 610 00:19:53,240 --> 00:19:53,980 don't know anything about. 611 00:19:54,280 --> 00:19:54,720 That's right. 612 00:19:54,800 --> 00:19:56,760 And this is a good point that you 613 00:19:56,760 --> 00:19:59,040 just made that these are very prominent on 614 00:19:59,040 --> 00:20:00,780 personal travel cards as well. 615 00:20:00,900 --> 00:20:02,980 When we're talking about travel insurance, people often 616 00:20:02,980 --> 00:20:04,280 think, oh, you know, I'm gonna go buy 617 00:20:04,280 --> 00:20:05,880 a policy to cover my trip or whatever. 618 00:20:06,060 --> 00:20:07,460 And a lot of times then you end 619 00:20:07,460 --> 00:20:09,700 up fighting with the insurance carrier if there's 620 00:20:09,700 --> 00:20:11,340 a problem and the terms and all of 621 00:20:11,340 --> 00:20:13,620 that, versus just getting, having a credit card 622 00:20:13,620 --> 00:20:15,100 that has a robust policy. 623 00:20:15,380 --> 00:20:17,320 What you're looking for are some basics like 624 00:20:17,320 --> 00:20:20,140 baggage delay insurance, where if your bag is 625 00:20:20,140 --> 00:20:22,380 delayed and you need to go buy a 626 00:20:22,380 --> 00:20:25,240 spare t-shirt and toothbrush and whatever it 627 00:20:25,240 --> 00:20:27,640 might be because your bag didn't make it, 628 00:20:27,860 --> 00:20:30,460 your credit card policy will reimburse you for 629 00:20:30,460 --> 00:20:31,180 those costs. 630 00:20:31,500 --> 00:20:34,280 Trip delay, same thing where your trip gets 631 00:20:34,280 --> 00:20:36,500 delayed by six hours or 12 hours and 632 00:20:36,500 --> 00:20:38,540 you're stuck in the airport on a connection 633 00:20:38,540 --> 00:20:40,560 or wherever it might be and you need 634 00:20:40,560 --> 00:20:41,240 a hotel room. 635 00:20:41,280 --> 00:20:44,200 Maybe it's even overnight that your connection doesn't 636 00:20:44,200 --> 00:20:45,880 happen and you're stuck in having to get 637 00:20:45,880 --> 00:20:47,360 a hotel room and the airline is giving 638 00:20:47,360 --> 00:20:48,380 you trouble about it. 639 00:20:48,500 --> 00:20:49,560 That's the sort of thing where you just 640 00:20:49,560 --> 00:20:51,940 pay for it on that card and your 641 00:20:51,940 --> 00:20:54,460 card is covered and reimburses you for the 642 00:20:54,460 --> 00:20:54,800 cost. 643 00:20:55,160 --> 00:20:57,320 So those are important types of insurances that 644 00:20:57,320 --> 00:20:58,020 you'll find on cards. 645 00:20:58,100 --> 00:20:58,760 They're all included. 646 00:20:59,280 --> 00:21:01,520 Usually they do require in order to be 647 00:21:01,520 --> 00:21:04,600 covered that you charge the trip, the cost 648 00:21:04,600 --> 00:21:06,420 of the trip itself to that card. 649 00:21:06,740 --> 00:21:08,420 Of course, if you're a business owner and 650 00:21:08,420 --> 00:21:10,160 that's the card you use, that won't be 651 00:21:10,160 --> 00:21:11,380 a problem, but it is the one thing 652 00:21:11,380 --> 00:21:12,120 to keep in mind. 653 00:21:12,380 --> 00:21:13,880 You can't charge the trip to a different 654 00:21:13,880 --> 00:21:15,940 card and then try and get another card 655 00:21:15,940 --> 00:21:17,020 to cover any costs. 656 00:21:17,100 --> 00:21:18,560 You'll need to do it through whatever your 657 00:21:18,560 --> 00:21:18,740 book. 658 00:21:18,900 --> 00:21:20,500 And there's a couple of exceptions and things 659 00:21:20,500 --> 00:21:21,900 like that that you need to read the 660 00:21:21,900 --> 00:21:23,040 fine print as you always do. 661 00:21:23,180 --> 00:21:25,280 But generally those programs are really quite robust 662 00:21:25,280 --> 00:21:26,360 and are really quite good. 663 00:21:26,680 --> 00:21:28,340 You'll usually only find them on cards with 664 00:21:28,340 --> 00:21:30,720 some sort of annual fee, no annual fee 665 00:21:30,720 --> 00:21:32,500 cards, but it doesn't have to be a 666 00:21:32,500 --> 00:21:33,980 400 or $500 card. 667 00:21:34,060 --> 00:21:36,860 You'll definitely find those types of coverages on 668 00:21:36,860 --> 00:21:38,340 cards that cost less than a hundred bucks. 669 00:21:38,540 --> 00:21:40,100 And I can't tell you how beneficial those 670 00:21:40,100 --> 00:21:40,380 have been. 671 00:21:40,480 --> 00:21:42,140 I was supposed to go skiing in France 672 00:21:42,140 --> 00:21:44,760 in January and then broke my shoulder skiing 673 00:21:44,760 --> 00:21:46,640 two weeks before in Utah and they weren't 674 00:21:46,640 --> 00:21:47,380 gonna give me my money back. 675 00:21:47,420 --> 00:21:48,540 It was like $4,000. 676 00:21:49,080 --> 00:21:50,820 And because my credit card gave me the 677 00:21:50,820 --> 00:21:52,060 protection, I was able to get out and 678 00:21:52,060 --> 00:21:52,760 get 4K back. 679 00:21:53,060 --> 00:21:54,380 So when you talk about spending four or 680 00:21:54,380 --> 00:21:56,880 $500 a year, that's just an example of 681 00:21:56,880 --> 00:21:59,020 how much money just one of those perks 682 00:21:59,020 --> 00:22:00,280 is able to help you with. 683 00:22:00,280 --> 00:22:02,120 Yeah, it's the sort of perk that you 684 00:22:02,120 --> 00:22:03,800 hope you never have to use, but the 685 00:22:03,800 --> 00:22:05,540 one time you do, you're thankful that you 686 00:22:05,540 --> 00:22:05,980 have it. 687 00:22:06,060 --> 00:22:07,740 It's definitely something I'm active. 688 00:22:07,820 --> 00:22:10,340 And look, there's other protections as well that 689 00:22:10,340 --> 00:22:11,360 you can find on a card. 690 00:22:11,440 --> 00:22:12,500 So it's the same sort of thing. 691 00:22:12,540 --> 00:22:14,480 You find the right card that matches what 692 00:22:14,480 --> 00:22:16,000 you need, what you think is most likely 693 00:22:16,000 --> 00:22:16,760 to be an issue. 694 00:22:17,140 --> 00:22:20,020 So I know, and we've discussed perks and 695 00:22:20,020 --> 00:22:22,900 points related to hotel, related to flights. 696 00:22:23,120 --> 00:22:26,860 We've talked about minorly groceries, gas and office 697 00:22:26,860 --> 00:22:27,080 supplies. 698 00:22:27,380 --> 00:22:28,540 What are some in travel insurance? 699 00:22:28,540 --> 00:22:30,120 What are some of these other perks that 700 00:22:30,120 --> 00:22:32,920 people don't even realize you can get on 701 00:22:32,920 --> 00:22:35,140 some of these cards that can help either 702 00:22:35,140 --> 00:22:36,900 individuals or business owners? 703 00:22:37,380 --> 00:22:40,540 Yeah, the big granddaddy of the perks cards 704 00:22:40,540 --> 00:22:43,340 is the American Express Business Platinum Card. 705 00:22:43,760 --> 00:22:45,460 And it's an expensive card. 706 00:22:45,560 --> 00:22:47,820 It's $695 a year. 707 00:22:47,980 --> 00:22:49,640 So you really have to be able to 708 00:22:49,640 --> 00:22:51,580 use those perks, but it does come with, 709 00:22:51,680 --> 00:22:54,620 like you've mentioned, those elite statuses with Hertz, 710 00:22:54,780 --> 00:22:56,800 with Avis, that sort of thing, with Kilton. 711 00:22:57,320 --> 00:23:00,120 So you're getting treated better at where you 712 00:23:00,120 --> 00:23:00,360 go. 713 00:23:00,680 --> 00:23:03,080 It also comes with a lot of annual 714 00:23:03,080 --> 00:23:03,780 credits. 715 00:23:04,240 --> 00:23:06,500 So while you're paying $700 a year for 716 00:23:06,500 --> 00:23:08,560 that card, you're also getting up to $200 717 00:23:08,560 --> 00:23:12,340 a year in airline fee reimbursements for when 718 00:23:12,340 --> 00:23:14,120 you're traveling on an airline where maybe you 719 00:23:14,120 --> 00:23:16,520 do have to check a bag or pay 720 00:23:16,520 --> 00:23:18,320 for some sort of an upgrade fee, whatever 721 00:23:18,320 --> 00:23:18,980 it might be. 722 00:23:19,080 --> 00:23:20,500 It also comes then with a lot of 723 00:23:20,500 --> 00:23:21,360 other little perks. 724 00:23:21,500 --> 00:23:23,740 For instance, the Amex Business Platinum gives you 725 00:23:23,740 --> 00:23:26,260 up to $10 a month in credit against 726 00:23:26,260 --> 00:23:28,160 your cell phone bill, your business cell phone 727 00:23:28,160 --> 00:23:28,400 bill. 728 00:23:28,520 --> 00:23:29,940 When you charge it to that card, they'll 729 00:23:29,940 --> 00:23:31,060 give you back 10 bucks of it. 730 00:23:31,200 --> 00:23:33,920 So there's all these little credits and elite 731 00:23:33,920 --> 00:23:34,280 status. 732 00:23:34,420 --> 00:23:36,400 It all adds up to a fairly extensive 733 00:23:36,400 --> 00:23:37,000 package. 734 00:23:37,260 --> 00:23:39,540 Again, you need to make sure you're using 735 00:23:39,540 --> 00:23:39,800 them. 736 00:23:39,920 --> 00:23:42,920 You need to be actually actively using all 737 00:23:42,920 --> 00:23:44,680 of those perks or the ones that make 738 00:23:44,680 --> 00:23:46,240 it valuable to you if you're gonna be 739 00:23:46,240 --> 00:23:47,320 paying that amount of money. 740 00:23:47,520 --> 00:23:49,680 But it is a popular card when it 741 00:23:49,680 --> 00:23:53,100 comes to VIP treatment and people who really 742 00:23:53,100 --> 00:23:55,700 want to have a little something extra for 743 00:23:55,700 --> 00:23:56,180 their business. 744 00:23:56,540 --> 00:23:57,680 And by the way, it does, of course, 745 00:23:57,740 --> 00:23:59,240 also come with lounge access. 746 00:23:59,740 --> 00:24:01,540 It's got that same 1,300, 1,400 747 00:24:01,540 --> 00:24:06,280 airport lounges plus American Express' own Centurion lounges, 748 00:24:06,400 --> 00:24:09,660 plus if you're flying Delta, access to Delta 749 00:24:09,660 --> 00:24:10,480 Skyclubs. 750 00:24:10,680 --> 00:24:13,060 So it's a pretty broad package. 751 00:24:13,660 --> 00:24:15,440 So there's a lot involved, right? 752 00:24:15,480 --> 00:24:18,740 And if we look at pointspath.com, pointspath 753 00:24:18,740 --> 00:24:20,980 will help us kind of know where to 754 00:24:20,980 --> 00:24:22,920 use our points and the incentives. 755 00:24:23,420 --> 00:24:25,400 But how do you go through, how do 756 00:24:25,400 --> 00:24:28,140 you guide somebody through this overwhelming process of 757 00:24:28,140 --> 00:24:29,380 where to even start? 758 00:24:29,540 --> 00:24:31,680 Like, what does that filtration look like? 759 00:24:31,740 --> 00:24:32,900 Do I start saying, what do I care 760 00:24:32,900 --> 00:24:33,580 most about? 761 00:24:33,700 --> 00:24:34,480 Is it money back? 762 00:24:34,660 --> 00:24:37,680 Like, what logical paths should I go from 763 00:24:37,680 --> 00:24:39,560 the very beginning of, I need a credit 764 00:24:39,560 --> 00:24:42,140 card that gives me the most to narrowing 765 00:24:42,140 --> 00:24:44,620 down the exact card that works for me? 766 00:24:44,620 --> 00:24:47,460 Yeah, so the first step, obviously, is do 767 00:24:47,460 --> 00:24:48,040 I travel? 768 00:24:48,280 --> 00:24:49,420 Or do I, my employees travel? 769 00:24:49,520 --> 00:24:50,900 Am I gonna need travel points? 770 00:24:50,940 --> 00:24:53,720 If you don't travel, don't collect travel points, 771 00:24:54,060 --> 00:24:55,060 collect cash back. 772 00:24:55,220 --> 00:24:57,720 I mean, that sounds obvious, but I've met 773 00:24:57,720 --> 00:25:00,020 many people who collect travel points and then 774 00:25:00,020 --> 00:25:01,380 redeem them for cash back. 775 00:25:01,700 --> 00:25:02,880 And you're just not gonna get as much 776 00:25:02,880 --> 00:25:05,540 value that way rather than just getting a 777 00:25:05,540 --> 00:25:06,240 cash back card. 778 00:25:06,320 --> 00:25:07,880 That just makes a lot more sense and 779 00:25:07,880 --> 00:25:09,720 you'll find a lot more value that way. 780 00:25:09,820 --> 00:25:11,720 So start with, what is it that I 781 00:25:11,720 --> 00:25:13,840 actually want to earn rewards-wise? 782 00:25:13,840 --> 00:25:16,820 From there, if you're doing cash back, it's 783 00:25:16,820 --> 00:25:17,480 pretty easy. 784 00:25:17,820 --> 00:25:19,960 Again, we've talked about, figure out what I 785 00:25:19,960 --> 00:25:22,060 spend the most on and for my business 786 00:25:22,060 --> 00:25:23,760 and then pick a card that matched that. 787 00:25:23,880 --> 00:25:26,260 For travel, it does get more complicated because 788 00:25:26,260 --> 00:25:28,680 then it says, okay, what airlines do I 789 00:25:28,680 --> 00:25:29,720 tend to fly? 790 00:25:30,120 --> 00:25:31,980 Also, where do I usually go? 791 00:25:32,380 --> 00:25:33,800 Am I traveling domestically? 792 00:25:33,900 --> 00:25:34,960 Am I traveling internationally? 793 00:25:35,240 --> 00:25:37,860 Do I want to leverage international programs? 794 00:25:38,320 --> 00:25:40,420 Is there a card that then has those 795 00:25:40,420 --> 00:25:41,460 international programs? 796 00:25:41,880 --> 00:25:43,200 So there's a lot of that too. 797 00:25:43,700 --> 00:25:45,780 When it comes to travel rewards, it is 798 00:25:45,780 --> 00:25:48,200 more complicated because of course, there's a lot 799 00:25:48,200 --> 00:25:50,380 of airlines and hotels and a lot going 800 00:25:50,380 --> 00:25:52,400 on out there, whereas cash back is cash 801 00:25:52,400 --> 00:25:52,680 back. 802 00:25:52,840 --> 00:25:55,060 So if you are looking for a very 803 00:25:55,060 --> 00:25:57,500 simple set it and forget it type of 804 00:25:57,500 --> 00:26:00,620 card, then I would recommend cash back just 805 00:26:00,620 --> 00:26:01,280 because it's easy. 806 00:26:01,420 --> 00:26:02,860 You get the card, you put it in 807 00:26:02,860 --> 00:26:04,120 your wallet, you use it for all your 808 00:26:04,120 --> 00:26:06,380 business expenses, you get some money back at 809 00:26:06,380 --> 00:26:07,580 the end of the year or whenever you 810 00:26:07,580 --> 00:26:07,980 need it. 811 00:26:08,140 --> 00:26:10,740 But you will get more value for travel 812 00:26:10,740 --> 00:26:13,160 points if you're willing to put the homework 813 00:26:13,160 --> 00:26:13,960 into it. 814 00:26:14,240 --> 00:26:16,140 It will require a little more homework. 815 00:26:16,480 --> 00:26:18,260 As with everything in life, the best things 816 00:26:18,260 --> 00:26:19,620 in life cost something. 817 00:26:19,960 --> 00:26:20,980 And in this case, it costs a little 818 00:26:20,980 --> 00:26:23,260 time to really maximize all of that. 819 00:26:23,360 --> 00:26:25,360 But it is, if you like traveling and 820 00:26:25,360 --> 00:26:27,240 you want to travel better and travel for 821 00:26:27,240 --> 00:26:29,620 free, the travel rewards really can be worth 822 00:26:29,620 --> 00:26:29,720 it. 823 00:26:30,040 --> 00:26:32,380 So Ian, what is something that I should 824 00:26:32,380 --> 00:26:33,760 have asked you and I didn't ask you 825 00:26:33,760 --> 00:26:34,860 as we get ready to wrap up, I 826 00:26:34,860 --> 00:26:36,320 always like to ask this, but what is 827 00:26:36,320 --> 00:26:37,520 something I should ask you that I didn't, 828 00:26:37,600 --> 00:26:39,580 that you think could be beneficial for those 829 00:26:39,580 --> 00:26:41,620 that are really trying to find the perfect 830 00:26:41,620 --> 00:26:44,520 cards and the perfect bundle of incentives for 831 00:26:44,520 --> 00:26:44,740 them? 832 00:26:45,260 --> 00:26:49,060 Yeah, I would say, first of all, don't 833 00:26:49,060 --> 00:26:51,880 panic if you feel overwhelmed. 834 00:26:52,280 --> 00:26:54,900 It is a lot going on out there 835 00:26:54,900 --> 00:26:57,580 and you're not gonna become an expert in 836 00:26:57,580 --> 00:26:59,400 business credit cards instantly. 837 00:26:59,760 --> 00:27:00,960 And you don't need to be. 838 00:27:01,220 --> 00:27:03,200 And the first card you choose, you may 839 00:27:03,200 --> 00:27:04,840 look back a year or two or three 840 00:27:04,840 --> 00:27:06,380 from now and be like, I didn't, that 841 00:27:06,380 --> 00:27:07,180 wasn't the right card. 842 00:27:07,260 --> 00:27:08,720 I didn't need that, I need this card. 843 00:27:08,720 --> 00:27:12,340 It's okay, you can start with the card 844 00:27:12,340 --> 00:27:14,400 that you think is right for you, but 845 00:27:14,400 --> 00:27:16,260 don't think that that has to be the 846 00:27:16,260 --> 00:27:18,100 last and only card you ever get for 847 00:27:18,100 --> 00:27:18,620 your business. 848 00:27:18,900 --> 00:27:21,040 I always say to everybody, and this is 849 00:27:21,040 --> 00:27:24,300 both business and personal, if you're not looking 850 00:27:24,300 --> 00:27:27,120 every few years at what card you have 851 00:27:27,120 --> 00:27:28,960 and what else is out there, you're probably 852 00:27:28,960 --> 00:27:32,420 leaving value on the table because not only 853 00:27:32,420 --> 00:27:35,040 may have your needs changed, but also the 854 00:27:35,040 --> 00:27:37,740 credit card market changes constantly and banks are 855 00:27:37,740 --> 00:27:40,260 constantly coming out with new and better products, 856 00:27:40,440 --> 00:27:41,560 changing products. 857 00:27:41,680 --> 00:27:44,040 The card you have might have changed and 858 00:27:44,040 --> 00:27:46,300 no longer does what you originally thought it 859 00:27:46,300 --> 00:27:46,560 did. 860 00:27:47,100 --> 00:27:49,120 So you should not get a card and 861 00:27:49,120 --> 00:27:50,740 just say, okay, that's it for the next 862 00:27:50,740 --> 00:27:52,900 decade, which a lot of people do. 863 00:27:53,620 --> 00:27:55,960 Instead, you should really get a card, use 864 00:27:55,960 --> 00:27:57,860 it, work with it for a while, and 865 00:27:57,860 --> 00:27:59,780 then say, all right, is this meeting my 866 00:27:59,780 --> 00:28:01,640 needs or should I look at another card? 867 00:28:01,820 --> 00:28:04,060 It's not a big deal to call and 868 00:28:04,060 --> 00:28:06,180 cancel a card when the annual fee comes 869 00:28:06,180 --> 00:28:06,460 due. 870 00:28:06,460 --> 00:28:08,220 And by the way, if that happens and 871 00:28:08,220 --> 00:28:09,480 you want to keep the card, but you 872 00:28:09,480 --> 00:28:11,120 don't want to pay the annual fee, another 873 00:28:11,120 --> 00:28:12,660 thing you can do is call the bank 874 00:28:12,660 --> 00:28:14,160 and say, listen, I don't want to pay 875 00:28:14,160 --> 00:28:14,980 this annual fee. 876 00:28:15,180 --> 00:28:17,180 Is there another card you can convert it 877 00:28:17,180 --> 00:28:18,900 to that doesn't have an annual fee? 878 00:28:18,920 --> 00:28:20,120 And then you can keep both cards. 879 00:28:20,440 --> 00:28:21,160 So that's another option. 880 00:28:21,240 --> 00:28:23,540 But my main tip is don't feel overwhelmed. 881 00:28:23,900 --> 00:28:26,400 Don't be worried about making a mistake. 882 00:28:27,100 --> 00:28:31,960 We all in this, it is complicated. 883 00:28:32,640 --> 00:28:33,500 So you'll find that. 884 00:28:33,800 --> 00:28:35,440 So Julian, and I appreciate that. 885 00:28:35,440 --> 00:28:38,300 That was phenomenal advice as we get ready 886 00:28:38,300 --> 00:28:38,900 to wrap up. 887 00:28:39,240 --> 00:28:41,240 But there's so much that you said to 888 00:28:41,240 --> 00:28:42,040 keep up with this. 889 00:28:42,200 --> 00:28:43,460 It is easy to get overwhelmed. 890 00:28:43,900 --> 00:28:45,820 Where can everybody go to follow you to 891 00:28:45,820 --> 00:28:48,300 be able to keep up with what's happening 892 00:28:48,300 --> 00:28:50,420 right now in the moment when they're trying 893 00:28:50,420 --> 00:28:51,720 to go to get a card, they're gonna 894 00:28:51,720 --> 00:28:53,260 want the most up-to-date information. 895 00:28:53,620 --> 00:28:54,440 How do they follow you? 896 00:28:54,660 --> 00:28:56,580 Yeah, yeah, that's a great question. 897 00:28:56,760 --> 00:28:58,600 So first of all, we have a weekly 898 00:28:58,600 --> 00:29:01,660 newsletter where I provide the best deals of 899 00:29:01,660 --> 00:29:03,700 the week and what's going on in the 900 00:29:03,700 --> 00:29:04,560 world of credit cards. 901 00:29:04,560 --> 00:29:07,960 So by signing up for PointsPath, you automatically 902 00:29:07,960 --> 00:29:09,040 get on that newsletter. 903 00:29:09,280 --> 00:29:10,980 So that's a great, it is free, just 904 00:29:10,980 --> 00:29:11,940 like PointsPath is. 905 00:29:12,180 --> 00:29:14,340 Beyond that, we are on social media, of 906 00:29:14,340 --> 00:29:17,840 course, Instagram, Twitter, TikTok, at PointsPath. 907 00:29:17,920 --> 00:29:19,200 So you can find us there and you 908 00:29:19,200 --> 00:29:20,080 can talk to me. 909 00:29:20,400 --> 00:29:22,400 And then there are other resources out there 910 00:29:22,400 --> 00:29:22,680 as well. 911 00:29:22,760 --> 00:29:24,320 I would be remiss to mention my own 912 00:29:24,320 --> 00:29:26,180 place, not to mention my own place, the 913 00:29:26,180 --> 00:29:29,260 old place, the Points guy, CNN, their underscore 914 00:29:29,260 --> 00:29:31,560 outlet has a lot of information about credit 915 00:29:31,560 --> 00:29:33,060 cards and travel rewards. 916 00:29:33,060 --> 00:29:35,200 And frankly, a simple Google search will tell 917 00:29:35,200 --> 00:29:35,740 you a lot. 918 00:29:35,960 --> 00:29:38,060 Be careful, obviously, of who you're Googling, of 919 00:29:38,060 --> 00:29:39,360 what site you end up on. 920 00:29:39,620 --> 00:29:40,760 Make sure it's somebody reputable. 921 00:29:41,280 --> 00:29:42,540 But there is a lot of information. 922 00:29:42,660 --> 00:29:44,160 It really comes down to how much time 923 00:29:44,160 --> 00:29:45,120 do you wanna put into it. 924 00:29:45,220 --> 00:29:48,680 Obviously, everyone's building their business, including myself, and 925 00:29:48,680 --> 00:29:50,780 a lot of time is spent building your 926 00:29:50,780 --> 00:29:52,400 business, and you might not have a lot 927 00:29:52,400 --> 00:29:55,140 of time to dig into credit cards, which 928 00:29:55,140 --> 00:29:57,980 is why podcasts like this are so useful. 929 00:29:58,280 --> 00:29:58,980 But it is worth it.