Dr. Nathan Fong Offers Expert Insight on Travel Rewards Credit Cards
Rutgers School of Business–Camden’s Dr. Nathan Fong recently shared his expertise with WalletHub, contributing expert commentary to its review of the Chase Sapphire Preferred Card.
As consumers navigate an increasingly competitive travel rewards credit card market, Dr. Fong offers valuable insight into what cardholders should consider when evaluating rewards, annual fees and travel benefits.
When it comes to welcome bonuses, Dr. Fong notes that headline rewards have increased as competition among credit card issuers has intensified. However, consumers should also pay attention to the requirements for earning those bonuses, including minimum spending thresholds. Having a plan to meet those requirements is an important part of determining whether a card is a good fit.
Dr. Fong also emphasizes that consumers should consider their individual travel habits when deciding whether a card with an annual fee is worthwhile. While lower-fee travel cards may offer enough credits and benefits to offset the annual cost with just one trip or less, consumers should consider whether they would have paid for those services independently and how frequently they are likely to use them.
For travelers booking flights, hotels and other accommodations through credit card rewards portals, Dr. Fong encourages consumers to look beyond the potential to maximize points. A rewards portal may not always offer the lowest price, bookings may not qualify for an airline or hotel loyalty program, and making changes to a reservation can sometimes be more difficult.
Dr. Fong’s insights highlight the importance of looking beyond headline rewards and considering how a credit card’s benefits, costs and restrictions align with an individual’s actual spending and travel habits.
His contribution to WalletHub’s review is another example of how Rutgers School of Business–Camden faculty bring their expertise to timely questions affecting consumers and the broader business community.