John Egan

Americans paid more than $254 billion in credit card interest and fees in 2024 — yet almost none of it was tax-deductible. Whether you can write off credit card interest depends entirely on what the purchase was for, not which card you used. Here's what the IRS actually allows.

To get airport lounge access with a credit card, you need a card that includes it, any required Priority Pass enrollment and a same-day boarding pass. The Amex Platinum ($895) has the largest network, Sapphire Reserve ($795) still includes two free guests and Venture X ($395) costs least but now charges most guests. Occasional travelers may pay less with day passes.

Overwhelmed by Citi’s long list of credit cards? This guide cuts through the clutter with three standouts that keep costs low and value high. Expect strong rewards where they matter, intro APR breathing room for purchases or balance transfers, and fewer fees quietly reducing what you earn.

A free checked bag on a round trip can save you $70 or more — and some airline credit cards include that perk even at no annual fee. I can't count the number of times celebrities like Samuel L. Jackson and Jennifer Garner have asked me "What's in your wallet?" in Capital One credit card ads that pop up on my TV screen.

A credit card statement provides a detailed summary of your spending, payments, fees, interest charges, and rewards during a billing cycle, helping you track your finances and detect potential errors. To learn how to read your statement effectively and avoid costly mistakes, read the full article for expert insights.