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10 sec. decision, would you forgo all your current/ future credit card reward points

Home The Lounge 10 sec. decision, would you forgo all your current/ future credit card reward points

  • Craigy Craigy 
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    Joined: 09/16/2016

    Idk, I really like my 2.5% cash back USAA card, and just recently added a 5% back ducks unlimited gas card 😆  I might make a grand a year or so, maybe more.

    IMO the only ones who should really be saying no are those flowing all their business expenses through their Amex, etc.

    The travel thing – I just don’t travel enough.  And when I want to travel, I want to go where I want, stay where I want, fly on my own schedule, not have to factor what rewards programs I’m in.

    The card churning thing – I’ve signed up for these bonuses a few times… and it just feels cheesy.  I know I’m not going to use the card after I get the reward.  No way I’m paying the annual fee.  Plus there are some companies that will send you a 1099 for your reward which basically cuts the reward in half.

    I think it boils down to the fact that I just don’t spend enough money.  At least not yet.

    LEVEL 1 WCI FORUM MEMBER.

    #229075 Reply
    Avatar pierre 
    Participant
    Status: Resident
    Posts: 164
    Joined: 02/01/2016

    @craigy “I might make a grand a year or so, maybe more.”

    Isn’t the assumption when these types of questions are posed that you are investing the 100k?

    $100k in the TSM *should* give you more than $1000/yr.

    And isn’t $100k now better than $1000/yr for 100 years. That’s why everyone takes the lump sum if win the lottery.

    #229079 Reply
    Avatar StarTrekDoc 
    Participant
    Status: Physician
    Posts: 1894
    Joined: 01/15/2017

    If one enjoys harvesting the points, that’s great. If one thinks less of others who don’t harvest the points, that’s not as great.

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    @burritos – what’s up with this remark?  If directed at me, would like to know where I come off thinking less of others.

     

    @seattlee – I do love the numbers game and hearts remains my favorite card game of all time.   We don’t plan the upgrades.  We simply pick the place, and use the points if it maximizes opportunities.    eg:  We went to Hawaii in June on our schedule between kid camps.   We’re going to Orlando in dead of Holiday season.   Used points to maximize both expierences.   Tail doesn’t wag the dog.

     

     

    #229081 Reply
    Liked by seattlee
    Avatar burritos 
    Participant
    Status: Physician
    Posts: 421
    Joined: 04/23/2018

    If one enjoys harvesting the points, that’s great. If one thinks less of others who don’t harvest the points, that’s not as great.

    Click to expand…

    @burritos – what’s up with this remark?  If directed at me, would like to know where I come off thinking less of others.

     

    @seattlee – I do love the numbers game and hearts remains my favorite card game of all time.   We don’t plan the upgrades.  We simply pick the place, and use the points if it maximizes opportunities.    eg:  We went to Hawaii in June on our schedule between kid camps.   We’re going to Orlando in dead of Holiday season.   Used points to maximize both expierences.   Tail doesn’t wag the dog.

     

     

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    Travel hacking with CC points is extremely easy/simple. Mind blown that people are arguing that it’s too difficult or time-consuming.

    Completely free vacation/cruise roughly every 2 years just by using CC points…. totally worth the ~1 hour it takes to get signed up for multiple travel cards + memorize the point strategy behind them.

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    Sorry. I’m just too stupid or lazy or both.

     

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    Lazy, yes.

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    Not you, but the above attitude is the same attitude that I get from my in laws. They probably aren’t the only ones. Granted I baited the answer, nonetheless the underlying sentiment is still there.

    #229101 Reply
    Avatar burritos 
    Participant
    Status: Physician
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    Joined: 04/23/2018

    nm

    #229104 Reply
    Avatar seattlee 
    Participant
    Status: Attorney
    Posts: 16
    Joined: 03/22/2017

     

    If one enjoys harvesting the points, that’s great. If one thinks less of others who don’t harvest the points, that’s not as great.

    Click to expand…

    @burritos – what’s up with this remark?  If directed at me, would like to know where I come off thinking less of others.

     

    @seattlee – I do love the numbers game and hearts remains my favorite card game of all time.   We don’t plan the upgrades.  We simply pick the place, and use the points if it maximizes opportunities.    eg:  We went to Hawaii in June on our schedule between kid camps.   We’re going to Orlando in dead of Holiday season.   Used points to maximize both expierences.   Tail doesn’t wag the dog.

     

     

    Click to expand…

    Is hearts the game where you can “shoot the moon?”  I love that one.

    “Tail doesn’t wag the dog”…it sounds like you deploy your points without it being a hassle.

    Don’t get me wrong, I have CC points, mostly Hyatt, Alaska Air, and Cash Back.  When I said you REALLY must enjoy the strategy, I was tying this back to the $100k hypo (assuming you could get $5k yearly in return if invested) and I personally would give up the points game completely for the $100k and spend the $5k yearly on travel.

    You enjoy it and you may well reap more than $5k per year in value from it and that is great.

    @burritos my inlaws call me a “points whore” for having a few points credit cards.  sounds like you are familiar with this, hahaaa?

    Optics and Electronics Patents

    #229284 Reply
    Avatar StarTrekDoc 
    Participant
    Status: Physician
    Posts: 1894
    Joined: 01/15/2017

     

    If one enjoys harvesting the points, that’s great. If one thinks less of others who don’t harvest the points, that’s not as great.

    Click to expand…

    @burritos – what’s up with this remark?  If directed at me, would like to know where I come off thinking less of others.

     

    @seattlee – I do love the numbers game and hearts remains my favorite card game of all time.   We don’t plan the upgrades.  We simply pick the place, and use the points if it maximizes opportunities.    eg:  We went to Hawaii in June on our schedule between kid camps.   We’re going to Orlando in dead of Holiday season.   Used points to maximize both expierences.   Tail doesn’t wag the dog.

     

     

    Click to expand…

    Is hearts the game where you can “shoot the moon?”  I love that one.

    “Tail doesn’t wag the dog”…it sounds like you deploy your points without it being a hassle.

    Don’t get me wrong, I have CC points, mostly Hyatt, Alaska Air, and Cash Back.  When I said you REALLY must enjoy the strategy, I was tying this back to the $100k hypo (assuming you could get $5k yearly in return if invested) and I personally would give up the points game completely for the $100k and spend the $5k yearly on travel.

    You enjoy it and you may well reap more than $5k per year in value from it and that is great.

    @burritos my inlaws call me a “points whore” for having a few points credit cards.  sounds like you are familiar with this, hahaaa?

    Click to expand…

    End up shooting the asteroid more often than not (25pts) in trying to Shoot the moon 😉   — yep, that game.

    Correct – for the posed question would be an easy ‘no’. The proceeds from spend alone gets pretty close to that $5000 /year mark.  Add the churn on top of that — not really close.  Now 25+ years into the churn game.  Slowed down a lot since the days of college, but same principles apply — just less opportunities to churn to go crazy.

    #229368 Reply
    Avatar docnews 
    Participant
    Status: Physician
    Posts: 391
    Joined: 01/09/2016

    Yes.

    Definitely think all forum members are capable of tracking churning but I’d wager that most who try make 1 mistake wiping out all the reward value.

    #229419 Reply
    Liked by Lordosis

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