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Getting a "free" airline trip simply by using a certain credit card sure sounds like a sweet deal. But things often get a little complicated when you actually try to cash in those reward miles.
Our Frugal $ense winner for December, Louie Gevero, of Bellerose, N.Y., has a better idea: Just get cash back and buy your own ticket.
Bankrate: How did you come up with your winning tip?
Louie Gevero: Well I always liked to travel so I signed up for an airline card and other credit cards. When I started to read the fine print, there were so many restrictions. So I started to read financial magazines and I picked up a few things.
Bankrate: Do you have any other credit card secrets?
Louie Gevero: I just opened a new Citi card and I transferred all my balances from my other cards to it. It offers 5 percent cash back for three months.
Bankrate: Do you consider yourself frugal in general?
Louie Gevero: Not when I was younger, but since I started a family. When I was single I spent like crazy. I've been married for 11 years and have a 9-year-old and a 2-year-old.
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| December's Frugal $ense winner: Louie Gevero, of Bellerose, N.Y. |
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Louie Gevero is the winner of the Frugal $ense contest for the month of December.
Say NO to mileage rewards credit cards
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Bankrate: How else do you save money?
Louie Gevero: I started reading financial books and magazines and I opened a lot of DRIP (dividend reinvestment plan) accounts, you know, like $50 Microsoft and other stocks, every so often. So it's automatic. I just find it easier, if you never see the money then you don't know that you're missing it.
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