Financial Fitness with Alan Akina - Expense Credit Card

18 Apr 2011 · 2 min

Watch on YouTube

1:37

In a brief segment of KHON2’s “Wake Up Today,” financial expert Alan Akina introduces the concept of an “expense credit card” as a powerful personal finance tool. He outlines four key advantages: (1) a grace period of roughly 22‑25 days after the 30‑day billing cycle that lets users keep cash invested interest‑free; (2) real‑time online accountability, allowing the user to monitor personal and spouse’s spending; (3) free perks such as airline miles, hotel points, and cash rebates that can accumulate to a free trip each year; and (4) complimentary purchase‑protection insurance lasting up to 12 months. Akina promises a follow‑up segment with tips to maximize these benefits and directs viewers to KHON2.com for more financial fitness content.

Can a credit card be a top financial tool?
That's what our financial expert Alan Akina believes. He has more this morning in his Financial Fitness Report.
Good morning, everyone. For today's tip, I want to share with you one of the best financial tools that I use every day. Now, most financial experts will never tell you to do this, but I have found it extremely helpful when you understand how to use it. I call it an expense credit card. Here are 4 reasons why I like to use an expense credit card. Number 1, the grace period. After the 30-day billing cycle, most cards give you an additional 22 to 25 days grace period to pay the balance off with no interest charges. This allows me to keep my cash working hard during that period of time. Number 2, accountability. I can go online anytime during the month to check my expense credit card. I can even see what expenses are going on my wife's credit card. Number 3, the free perks like airline miles and hotel points, cash rebates, and more. I typically have enough miles for a free trip at the end of the year just by putting all my monthly expenses on that card. And number 4, additional insurance on products purchased with your card for up to 12 months free of charge. Next week, I'll show you some tips that can safely maximize all of the benefits of using an expense credit card. All of our financial fitness tips are on the KHON2.com website. For Wake Up Today, I'm Alan Akina. See you next week.