Smart Money: Gas from car-rental agency often not best deal

Often, trying to find a gas station at the major airports is nearly impossible, and it also is a bit more expensive. – Reader, via e-mail

Dear Reader: It can be a good deal, but usually, it isn’t. The genius who thought this up should be rewarded with a million-dollar bonus from the rental companies. They are selling the same gallon of gas for many times the actual price, so the profit has to be remarkable. In other words, you’ll probably have – at the very least – a couple of gallons remaining in the tank when you return the car.

Who wants to drive with an empty tank in a strange city?

If you are not driving great distances, there is a good chance you might leave a half-tank in there, which will be sold to the next traveler. If, on the other hand, you know you are going to be driving substantial distances and you want to chance driving it down to near empty, it’s much more convenient when returning the car. It is only a good deal if you are going to burn at least a full tank of gas, and you have the ability to track what you need so you don’t run out on some busy highway approaching the airport.

Twilight travel via reverse mortgage

Dear Bruce: I am 70 years old, work part-time and am considering a reverse mortgage. I do have a small nest egg put aside. I have studied the pros and cons of a reverse mortgage, and my conclusion is that it seems to be a nice way to cap extra money for my “twilight” years for travel and fun. My heirs will still receive a handsome inheritance. I read your column often, and I would like your response. What would you do in my position? – M.I. in Pennsylvania

Dear M.I.: I have no problem with a reverse mortgage. It’s nice that you want to spend some money on yourself. You haven’t told me, though, how much your home is worth. You are also a little on the young side for a reverse mortgage, so you probably will only receive 50 percent to 60 percent of the value. If there is equity left after retiring, the obligation upon your death will go to your heirs. The idea of spending that money for travel and other fun-related activities makes great sense to me.

Credit card perks for fun

Dear Bruce: I need advice regarding a credit card. I currently pay my credit card bills every month. I’m looking for a card with some type of cash reward, no annual fee and low interest. I’m going to retire soon and plan on traveling extensively. – K.J., via e-mail

Dear K.J.: You sure want it all, and I can’t hate you for that. There are lots of cards with no annual fees, as long as your credit is pristine. The cash rewards are limiting to some degree, and I don’t understand why you’re concerned about the low interest since you pay your credit-card bills every month. I suspect your current credit cards will do just fine, other than wishing for the cash reward.

The reality is, unless you spend a substantial amount, the cash rewards don’t amount to much. Since you will be traveling, I would be more concerned about air miles, double miles and things of this nature. The miles can be very useful.

Bruce Williams is a national radio talk-show host and syndicated columnist. He can be reached at bruce@brucewilliams.com.