YES! 5% off at Target every time!

Target started their new credit card rewards program yesterday. If you use your Target-branded credit or debit card at Target you earn 5% off. Every time. Genius. I saved $1.53 off of my grocery bill today.

Are Frequent Flier Programs Worth It?

Wouldn't have been able to get this awesome picture on the Acropolis in Athens if not for frequent flier miles!

I read an article from the Washington Post this weekend that got me thinking. The author is very skeptical of the benefits of frequent flier programs. He thinks that the programs cause you to make irrational decisions, choosing flights that might not be the most cost-effective or convenient just to get miles. He also points to credit cards and other programs where you "earn" miles as not being worth it.

The Navigator: Frequent- flier programs cons outweigh the pros

I can't say that I agree with him that frequent flier programs are never worth it. My husband and I have seen some great rewards from our frequent flier programs. I have been a member of Northwest's frequent flier program since a trip to Europe in high school. When Delta bought them my miles rolled over to that program. Living in Minneapolis, Northwest/Delta is often the only choice for a given route anyway, so we have racked up a lot of miles.

Since 2008, I have bought three round-trip flights by cashing in frequent flier miles. We have never had a mileage credit card or taken part in any extra programs to earn extra miles. In 2008, we flew from Minneapolis to Rome and back using miles, and paid something like $20 in fees. This year, I have already flown from Minneapolis to Milwaukee to go to a wedding shower. Additionally, we just booked a weekend in Los Angeles using miles. We have also received The Economist and The Wall Street Journal for the past couple years by redeeming miles.

So, anytime you fly, make sure you're earning your miles. Sign up for the frequent flier program on any airline you happen to fly. It's free, and who knows, maybe over time you will fly enough to earn some rewards. Even if you don't, it's worth a try. I'm not a proponent of credit cards tied to frequent flier miles, especially since they usually have a high yearly fee and sometimes limit how you can use the miles. You're better off with a card that earns you a cash or gasoline rebate, such as the Exxon Mobil card. More on that in another post.

New credit card functionality lets you set limits

Very interesting article in the New York Times. Mastercard is coming out with new functionality for their Citibank cards to help you control your spending. You can set pre-determined limits for specific expenses, such as restaurants or iTunes, and your card will be declined if you attempt to make a purchase above your limit. You can also block transactions from certain countries or websites, or only allow the cards to be used in certain states. The possibilities are endless. What an interesting way to manage your budget or your kids' allowance.

Your card has been declined, just as you wanted

Your credit score- check it!

I heard on NPR this week that the number of Americans with sub par credit scores has increased recently. More Americans' Credit Scores Sink to New Lows

This is alarming because a low credit score can be a real hindrance. It can lead to being denied for loans or to receiving a higher interest rate, which costs you more in payments. The federal government has put a program in place to allow you to check your credit report with the three major credit reporting companies for free once a year. The Federal Trade Commission has a website outlining the program: FTC Free Annual Credit Reports.

You owe it to yourself to take the time to request and review your credit report and to follow up on any errors or inconsistencies you find. It's not just thrifty, it's protecting your identity and your ability to buy a home or car!

Thrifty Travel Strategy- Frequent Flier Credit Cards

I know several people who use a credit card to earn frequent flier miles. We have a Charles Schwab card that earns us cash back and an Exxon Mobil card that earns us free gas, so we haven't tried the miles thing yet. The New York Times recently had an article reviewing the different frequent flier credit cards. Sounds like the US Bank Visa FlexPerks card was their choice, do any of you use it?

Article from NY Times