CHARLOTTE, N.C. (WBTV) - Simon Property Group and Cardless are launching a new credit card to incentivize shoppers to visit their shopping centers, but experts say credit card perks can lead to overspending.
Mary Henry with Alloy Wealth Management has some tips to keep you out of trouble.
The new Simon Property Card offers incentives like 1.5 to 5% cash back on purchases, $150 in statement credits after spending $1,000 in the first 90 days, and it’s the first Cardless card to run on the American Express network.
According to Henry, sign-on bonuses can cause people to overspend. That combined with interest accrued monthly can lead to harder times paying off the purchases.
He recommends going through all the guidelines that come with the cards and not to spend outside of what you normally would.
You can watch more tips above and visit alloywealth.com. They’re also on Facebook under Alloy Wealth Management.
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