Get the most from your credit cards – Agency Management Tip for Owners

Hey, everybody. Drew McLellan here from Agency Management Institute this week, coming to you from Orlando, Florida. You know, one of the strategies we don't talk about very often, we talk about it in Money Matters, the workshop, but we probably don't talk about it as often as we should. Is your credit card strategy. I know that sounds crazy, but the reality is most agencies use their credit card pretty liberally. We have a lot of expenses we run through. We have travel, and we can create our own currency by choosing the right credit card. So whether you want travel points or whether you want cash back, actually having a strategy around how you're going to use credit cards and how you're going to leverage that currency, are you going to use it to reward employees or are you going to use it for your own personal travel? It's one of the very rare benefits of agency ownership that doesn't get taxed, that isn't under scrutiny by any federal government agency. But for many agencies, those points or those cash back dollars can add up to some serious money. So be thoughtful about the credit cards you use and how you're going to leverage the currency that comes back to you with those credit cards. Don't just assume that your bank credit card or an Amex card is the right choice for you. There are a lot of cards out there that have very specific reward programs that will best benefit how you want to use that currency. So give it some thought. Do a little homework and if you need to change cards. All right? I'll see you next week.