Miles Credit Card Idea/Theory (mainly for Daris)

[steve dave]

So, you know the dining thing with credit cards that you sign up for and whenever you eat at any of the places and pay with any credit card you sign up you get points?  These things:

http://www.hhonorsdining.com/
http://skymiles.rewardsnetwork.com/

It's all run by the same company and you can only be signed up for one place (ie Hilton, Delta, AA, etc.) at a time.  But, they have bonuses for your first month like Hilton has 1,000 miles when you spend $25 within the first 45 days of signing up.  What I'm wondering is, can you keep signing up and changing the program you are on to continually get the sign up bonus?  I've changed from Delta to Hilton already and gotten the opening bonus thing.  I wonder if I can change back to Delta with a different login but same Delta Skymiles account and get the opening bonus again.  Have any of your elite airline miles websites discussed this

Also, if anyone isn't signed up for this you should probably sign up as it works with any card and almost all airlines are part of it.  It doesn't cost anything.

[Kat Kid]

Holy crap.

Initially I thought getting old would suck, but now I know it is awesome.

[steve dave]

Holy crap.

Initially I thought getting old would suck, but now I know it is awesome.

IKNOWRITE! 

[steve dave]

just checked and the only place in Manhattan that participates is Gumbys 

[jeffy]

I know a lot of people that have gotten rich on credit card miles.  Among these are Bill Gates, Tiger Woods, and Dave Ramsey.

[steve dave]

I know a lot of people that have gotten rich on credit card miles.  Among these are Bill Gates, Tiger Woods, and Dave Ramsey.

I know for a fact the first two got rich in other ways.  Never heard of the third guy so maybe he did.

[jthutch]

I know a lot of people that have gotten rich on credit card miles.  Among these are Bill Gates, Tiger Woods, and Dave Ramsey.

I know for a fact the first two got rich in other ways.  Never heard of the third guy so maybe he did.

Dave Ramssey got rich with his books about getting out of debt (and some realestate), and he does not use credit cards!

[steve dave]

I know a lot of people that have gotten rich on credit card miles.  Among these are Bill Gates, Tiger Woods, and Dave Ramsey.

I know for a fact the first two got rich in other ways.  Never heard of the third guy so maybe he did.

Dave Ramssey got rich with his books about getting out of debt (and some realestate), and he does not use credit cards!

Sounds like a f^cking loser.  What kind of retard doesn't like free stuff?

[steve dave]

I know a lot of people that have gotten rich on credit card miles.  Among these are Bill Gates, Tiger Woods, and Dave Ramsey.

I know for a fact the first two got rich in other ways.  Never heard of the third guy so maybe he did.

Dave Ramssey got rich with his books about getting out of debt (and some realestate), and he does not use credit cards!

Sounds like a f^cking loser.  What kind of retard doesn't like free stuff?

Wait, is he one of those people that doesn't pay there bill on time or carries debt on it?  Because, yeah, the retard shouldn't be around credit cards in that case.  But for us smart people they are pretty much just free stuff 24/7.   

[Kat Kid]

People that don't pay off their balance at the end of the month (AUTO DEDUCT from account!!) are not very smart.

[jeffy]

The average credit card user spends about 12-18% more on purchases than does a cash user (that hardly balances out the 1-2% reward).  Studies have shown that using cash generates an "ouch" factor in the brain.  By using a credit card, the same studies reveal a greatly decreased "ouch" factor.  This effect is even further reduced when a consumer uses a wave (RFID chips) instead of a swipe.

Many banks are starting to offer rewards on debit cards.  There's a strange myth about debit cards, though.  The myth is that they do not have the same protections as a credit card.  This is true, but ONLY if you use it as a debit card, which involves typing in a PIN.  The fact is that if you have the transaction processed as CREDIT, then it is covered by the same terms of use that a credit card is.

One additional benefit to using cash, particularly at restaurants, is that my transaction does not take place out of my sight.  Many identity thefts happen when credit cards are taken by servers.  Having had my identity stolen in the past, I know it is not fun to deal with, unless you truly enjoy spending many hours on the phone with businesses and with police.  If I give a server a $20, I don't have to worry about anything more than the person mis-figuring change.

[steve dave]

The average credit card user spends about 12-18% more on purchases than does a cash user (that hardly balances out the 1-2% reward).  Studies have shown that using cash generates an "ouch" factor in the brain.  By using a credit card, the same studies reveal a greatly decreased "ouch" factor.  This effect is even further reduced when a consumer uses a wave (RFID chips) instead of a swipe.

Many banks are starting to offer rewards on debit cards.  There's a strange myth about debit cards, though.  The myth is that they do not have the same protections as a credit card.  This is true, but ONLY if you use it as a debit card, which involves typing in a PIN.  The fact is that if you have the transaction processed as CREDIT, then it is covered by the same terms of use that a credit card is.

One additional benefit to using cash, particularly at restaurants, is that my transaction does not take place out of my sight.  Many identity thefts happen when credit cards are taken by servers.  Having had my identity stolen in the past, I know it is not fun to deal with, unless you truly enjoy spending many hours on the phone with businesses and with police.  If I give a server a $20, I don't have to worry about anything more than the person mis-figuring change.

Yeah, I agree.  People that have to trick themselves into not spending money probably shouldn't be allowed to have very much of it. 

[Rick Daris]

The average credit card user spends about 12-18% more on purchases than does a cash user (that hardly balances out the 1-2% reward).  Studies have shown that using cash generates an "ouch" factor in the brain.  By using a credit card, the same studies reveal a greatly decreased "ouch" factor.  This effect is even further reduced when a consumer uses a wave (RFID chips) instead of a swipe.

Many banks are starting to offer rewards on debit cards.  There's a strange myth about debit cards, though.  The myth is that they do not have the same protections as a credit card.  This is true, but ONLY if you use it as a debit card, which involves typing in a PIN.  The fact is that if you have the transaction processed as CREDIT, then it is covered by the same terms of use that a credit card is.

One additional benefit to using cash, particularly at restaurants, is that my transaction does not take place out of my sight.  Many identity thefts happen when credit cards are taken by servers.  Having had my identity stolen in the past, I know it is not fun to deal with, unless you truly enjoy spending many hours on the phone with businesses and with police.  If I give a server a $20, I don't have to worry about anything more than the person mis-figuring change.

Yeah, I agree.  People that have to trick themselves into not spending money probably shouldn't be allowed to have very much of it. 

agree. another way to think of it is this...just make more money then it doesn't really matter how much you spend cause there will always be more. never understood why more people just don't do this. too lazy?

[jeffy]

The average credit card user spends about 12-18% more on purchases than does a cash user (that hardly balances out the 1-2% reward).  Studies have shown that using cash generates an "ouch" factor in the brain.  By using a credit card, the same studies reveal a greatly decreased "ouch" factor.  This effect is even further reduced when a consumer uses a wave (RFID chips) instead of a swipe.

Many banks are starting to offer rewards on debit cards.  There's a strange myth about debit cards, though.  The myth is that they do not have the same protections as a credit card.  This is true, but ONLY if you use it as a debit card, which involves typing in a PIN.  The fact is that if you have the transaction processed as CREDIT, then it is covered by the same terms of use that a credit card is.

One additional benefit to using cash, particularly at restaurants, is that my transaction does not take place out of my sight.  Many identity thefts happen when credit cards are taken by servers.  Having had my identity stolen in the past, I know it is not fun to deal with, unless you truly enjoy spending many hours on the phone with businesses and with police.  If I give a server a $20, I don't have to worry about anything more than the person mis-figuring change.

Yeah, I agree.  People that have to trick themselves into not spending money probably shouldn't be allowed to have very much of it. 

agree. another way to think of it is this...just make more money then it doesn't really matter how much you spend cause there will always be more. never understood why more people just don't do this. too lazy?

Photocopy, like the government?

I also gave way too much of my tax money to irresponsible banks.  I felt no need to continue doing so through the credit system.

[Rick Daris]

The average credit card user spends about 12-18% more on purchases than does a cash user (that hardly balances out the 1-2% reward).  Studies have shown that using cash generates an "ouch" factor in the brain.  By using a credit card, the same studies reveal a greatly decreased "ouch" factor.  This effect is even further reduced when a consumer uses a wave (RFID chips) instead of a swipe.

Many banks are starting to offer rewards on debit cards.  There's a strange myth about debit cards, though.  The myth is that they do not have the same protections as a credit card.  This is true, but ONLY if you use it as a debit card, which involves typing in a PIN.  The fact is that if you have the transaction processed as CREDIT, then it is covered by the same terms of use that a credit card is.

One additional benefit to using cash, particularly at restaurants, is that my transaction does not take place out of my sight.  Many identity thefts happen when credit cards are taken by servers.  Having had my identity stolen in the past, I know it is not fun to deal with, unless you truly enjoy spending many hours on the phone with businesses and with police.  If I give a server a $20, I don't have to worry about anything more than the person mis-figuring change.

Yeah, I agree.  People that have to trick themselves into not spending money probably shouldn't be allowed to have very much of it. 

agree. another way to think of it is this...just make more money then it doesn't really matter how much you spend cause there will always be more. never understood why more people just don't do this. too lazy?

Photocopy, like the government?

I also gave way too much of my tax money to irresponsible banks.  I felt no need to continue doing so through the credit system.

ummm. no. make as in earn. if people are worried about how much money they spend, the obvious solution is to just make (earn) more, then it becomes a non issue.

my guess is that most people are just too stupid or lazy to figure this out though so instead of doing this they try and watch how much they spend and deny themselves and loved ones of things/stuff that would make their lives better. pretty stupid if you ask me.




also, to the OP's original question. i don't know if this would work or not. i suppose it's possible that it might. you could maybe look around over on flyertalk.com to see if it's been brought up. i would be kind of careful though. don't want to get caught frauding a program and have them take all points away from you. i know they can/could if they decided you were intentionally trying to fraud them. not that i think they would or anything but still. would suck if you had like a bajillion points or something and lost them over a measely thousand. dunno. just a thought.

[steve dave]

also, to the OP's original question. i don't know if this would work or not. i suppose it's possible that it might. you could maybe look around over on flyertalk.com to see if it's been brought up. i would be kind of careful though. don't want to get caught frauding a program and have them take all points away from you. i know they can/could if they decided you were intentionally trying to fraud them. not that i think they would or anything but still. would suck if you had like a bajillion points or something and lost them over a measely thousand. dunno. just a thought.

   Scared me out of trying now.  btw. this thing is amazing in Omaha.  Pretty much every bar/rest. we go to is a member of this. 

[Dirty Sanchez]

The average credit card user spends about 12-18% more on purchases than does a cash user (that hardly balances out the 1-2% reward).  Studies have shown that using cash generates an "ouch" factor in the brain.  By using a credit card, the same studies reveal a greatly decreased "ouch" factor.  This effect is even further reduced when a consumer uses a wave (RFID chips) instead of a swipe.

Many banks are starting to offer rewards on debit cards.  There's a strange myth about debit cards, though.  The myth is that they do not have the same protections as a credit card.  This is true, but ONLY if you use it as a debit card, which involves typing in a PIN.  The fact is that if you have the transaction processed as CREDIT, then it is covered by the same terms of use that a credit card is.

One additional benefit to using cash, particularly at restaurants, is that my transaction does not take place out of my sight.  Many identity thefts happen when credit cards are taken by servers.  Having had my identity stolen in the past, I know it is not fun to deal with, unless you truly enjoy spending many hours on the phone with businesses and with police.  If I give a server a $20, I don't have to worry about anything more than the person mis-figuring change.

Yeah, I agree.  People that have to trick themselves into not spending money probably shouldn't be allowed to have very much of it. 

agree. another way to think of it is this...just make more money then it doesn't really matter how much you spend cause there will always be more. never understood why more people just don't do this. too lazy?

Making more doesn't necessarily help.  There are people that make 6 figures that run up massive debt and get foreclosed on while there are people making $40K and have no debt for their family.  Its just a matter of 1)Putting all your spending down on paper before you spend it (a budget) and 2)telling yourself the non-pc magic word, "no."  

What does saying "no" get you? Say you want to buy a $10K car (just for round number sake).  You can finance it (a paper credit card) and spend ~$14K to get it now while paying for it for several more years.  Or you can wait, save money, and put that money in the bank, let it collect interest while you save, and only spend ~$8K of your original money and ~$2K of interest--real "free" money. (just examples for explanation sake, not actual numbers)  $8K or $14K.  Which would you rather spend?

And as far as getting points on a credit card...Miss just one payment for whatever reason and you've wiped out $40 in fees, plus interest.  That wipes out a lot of the "free" stuff you're getting.

[steve dave]

The average credit card user spends about 12-18% more on purchases than does a cash user (that hardly balances out the 1-2% reward).  Studies have shown that using cash generates an "ouch" factor in the brain.  By using a credit card, the same studies reveal a greatly decreased "ouch" factor.  This effect is even further reduced when a consumer uses a wave (RFID chips) instead of a swipe.

Many banks are starting to offer rewards on debit cards.  There's a strange myth about debit cards, though.  The myth is that they do not have the same protections as a credit card.  This is true, but ONLY if you use it as a debit card, which involves typing in a PIN.  The fact is that if you have the transaction processed as CREDIT, then it is covered by the same terms of use that a credit card is.

One additional benefit to using cash, particularly at restaurants, is that my transaction does not take place out of my sight.  Many identity thefts happen when credit cards are taken by servers.  Having had my identity stolen in the past, I know it is not fun to deal with, unless you truly enjoy spending many hours on the phone with businesses and with police.  If I give a server a $20, I don't have to worry about anything more than the person mis-figuring change.

Yeah, I agree.  People that have to trick themselves into not spending money probably shouldn't be allowed to have very much of it. 

agree. another way to think of it is this...just make more money then it doesn't really matter how much you spend cause there will always be more. never understood why more people just don't do this. too lazy?

Making more doesn't necessarily help.  There are people that make 6 figures that run up massive debt and get foreclosed on while there are people making $40K and have no debt for their family.  Its just a matter of 1)Putting all your spending down on paper before you spend it (a budget) and 2)telling yourself the non-pc magic word, "no."  

What does saying "no" get you? Say you want to buy a $10K car (just for round number sake).  You can finance it (a paper credit card) and spend ~$14K to get it now while paying for it for several more years.  Or you can wait, save money, and put that money in the bank, let it collect interest while you save, and only spend ~$8K of your original money and ~$2K of interest--real "free" money. (just examples for explanation sake, not actual numbers)  $8K or $14K.  Which would you rather spend?

And as far as getting points on a credit card...Miss just one payment for whatever reason and you've wiped out $40 in fees, plus interest.  That wipes out a lot of the "free" stuff you're getting.

Yeah, again, I wouldn't trust a credit card to someone who's retarded with their money.  I actually wouldn't trust actual money to someone who can't pay their credit card bill on time.  BTW, this thread was just for people who aren't complete f^ck ups with their money so you guys go have your talk about hypnotizing yourselves to spend less or whatever somewhere else.  k'thanks.

[Dirty Sanchez]

What were trying to say is: Banks have hypnotized you that using a credit card will not cause you to spend more.  Science says otherwise.

[prome05]

The average credit card user spends about 12-18% more on purchases than does a cash user (that hardly balances out the 1-2% reward).  Studies have shown that using cash generates an "ouch" factor in the brain.  By using a credit card, the same studies reveal a greatly decreased "ouch" factor.  This effect is even further reduced when a consumer uses a wave (RFID chips) instead of a swipe.

So even a person spends 12 to 18 percent more, they get 12 to 18 percent more stuff and an additional one or two percent more in rewards? Neat!

[jeffy]

I don't disagree that credit cards can be used responsibly.  This is the same as with guns, booze, cigars, etc.  Used responsibly and in conjunction with good budget, some people can handle them.  I didn't completely cut mine up until this spring once I decided that it would be hypocritical of me to take Dave Ramsey's Financial Counseling course while still having one.  All my bills were paid on CC.  All my motels for work were paid on CC.  Items in certain budget categories, such as vehicle repair and home maintenance, were put on CC.  I mostly paid for my SLR camera and zoom lens with rewards points.  But every time I used it, a came home and recorded it and pulled cash from that category's envelope.

[Dirty Sanchez]

The average credit card user spends about 12-18% more on purchases than does a cash user (that hardly balances out the 1-2% reward).  Studies have shown that using cash generates an "ouch" factor in the brain.  By using a credit card, the same studies reveal a greatly decreased "ouch" factor.  This effect is even further reduced when a consumer uses a wave (RFID chips) instead of a swipe.

So even a person spends 12 to 18 percent more, they get 12 to 18 percent more stuff and an additional one or two percent more in rewards? Neat!

Most of that 12-18% spent will either be consumed, broken, or no longer in use within a couple of years.  So, really, you don't get much out of it.

And that 12-18% if saved could turn into massive amounts of money later through positive interest.  With that you can get 112-118% more stuff.

[willie]

I don't disagree that credit cards can be used responsibly.  This is the same as with guns, booze, cigars, etc.  Used responsibly and in conjunction with good budget, some people can handle them.  I didn't completely cut mine up until this spring once I decided that it would be hypocritical of me to take Dave Ramsey's Financial Counseling course while still having one.  All my bills were paid on CC.  All my motels for work were paid on CC.  Items in certain budget categories, such as vehicle repair and home maintenance, were put on CC.  I mostly paid for my SLR camera and zoom lens with rewards points.  But every time I used it, a came home and recorded it and pulled cash from that category's envelope.

Why would you let some random guy who wrote a book dictate how you live your life?  Seems like you were already winning? 

[Chingon]

Cash?

LOL

you better start hoarding gold.

[jeffy]

I don't disagree that credit cards can be used responsibly.  This is the same as with guns, booze, cigars, etc.  Used responsibly and in conjunction with good budget, some people can handle them.  I didn't completely cut mine up until this spring once I decided that it would be hypocritical of me to take Dave Ramsey's Financial Counseling course while still having one.  All my bills were paid on CC.  All my motels for work were paid on CC.  Items in certain budget categories, such as vehicle repair and home maintenance, were put on CC.  I mostly paid for my SLR camera and zoom lens with rewards points.  But every time I used it, a came home and recorded it and pulled cash from that category's envelope.

Why would you let some random guy who wrote a book dictate how you live your life?  Seems like you were already winning? 

You are wrong to assume that this is all about me and my finances.  I took the class to better understand how to help others.  I'm in it to teach people how to handle their (God's) money.

So many people are improperly educated about money and finances.  They learn what they know from a Visa commercial.  We are marketed to on such a large scale that it's nearly impossible to avoid that influence.  And when people watch the news they see nothing but a government that spends money it doesn't have.  It's hard to convince people that the same rules don't apply to them.

I want people to know that they don't have to believe in the myths of "we'll always have a car payment" or "I'll have to go into debt if I'm going to college."  All they have to do is learn a little self control and focus.  

[steve dave]

I don't disagree that credit cards can be used responsibly.  This is the same as with guns, booze, cigars, etc.  Used responsibly and in conjunction with good budget, some people can handle them.  I didn't completely cut mine up until this spring once I decided that it would be hypocritical of me to take Dave Ramsey's Financial Counseling course while still having one.  All my bills were paid on CC.  All my motels for work were paid on CC.  Items in certain budget categories, such as vehicle repair and home maintenance, were put on CC.  I mostly paid for my SLR camera and zoom lens with rewards points.  But every time I used it, a came home and recorded it and pulled cash from that category's envelope.

Why would you let some random guy who wrote a book dictate how you live your life?  Seems like you were already winning? 

You are wrong to assume that this is all about me and my finances.  I took the class to better understand how to help others.  I'm in it to teach people how to handle their (God's) money.

So many people are improperly educated about money and finances.  They learn what they know from a Visa commercial.  We are marketed to on such a large scale that it's nearly impossible to avoid that influence.  And when people watch the news they see nothing but a government that spends money it doesn't have.  It's hard to convince people that the same rules don't apply to them.

I want people to know that they don't have to believe in the myths of "we'll always have a car payment" or "I'll have to go into debt if I'm going to college."  All they have to do is learn a little self control and focus.  

wait, you keep your money in various envelopes stashed around your house?  I refuse to believe that God thinks that's a good idea.

[Rick Daris]

The average credit card user spends about 12-18% more on purchases than does a cash user (that hardly balances out the 1-2% reward).  Studies have shown that using cash generates an "ouch" factor in the brain.  By using a credit card, the same studies reveal a greatly decreased "ouch" factor.  This effect is even further reduced when a consumer uses a wave (RFID chips) instead of a swipe.

Many banks are starting to offer rewards on debit cards.  There's a strange myth about debit cards, though.  The myth is that they do not have the same protections as a credit card.  This is true, but ONLY if you use it as a debit card, which involves typing in a PIN.  The fact is that if you have the transaction processed as CREDIT, then it is covered by the same terms of use that a credit card is.

One additional benefit to using cash, particularly at restaurants, is that my transaction does not take place out of my sight.  Many identity thefts happen when credit cards are taken by servers.  Having had my identity stolen in the past, I know it is not fun to deal with, unless you truly enjoy spending many hours on the phone with businesses and with police.  If I give a server a $20, I don't have to worry about anything more than the person mis-figuring change.

Yeah, I agree.  People that have to trick themselves into not spending money probably shouldn't be allowed to have very much of it. 

agree. another way to think of it is this...just make more money then it doesn't really matter how much you spend cause there will always be more. never understood why more people just don't do this. too lazy?

Making more doesn't necessarily help.  There are people that make 6 figures that run up massive debt and get foreclosed on while there are people making $40K and have no debt for their family.  Its just a matter of 1)Putting all your spending down on paper before you spend it (a budget) and 2)telling yourself the non-pc magic word, "no." 

seems like the people making 6 figures in your little scenario would have all their problems fixed if they would just make seven figures. no?

there are three ways to be or become financially stable. 1)make more. 2)spend less 3)combo of 1&2.

i decided quite a while ago to simply just make more. in my opinion, budgets and crap like that are for stupid and lazy people who are just too stupid or lazy or scared or whatever to just go make more money. make more money and you don't need a budget. budgets are the lazy man's way out.

[Chingon]

God doesn't care about your money.

God doesn't need money.

[Dirty Sanchez]

For those who are anti-Christian, just because Ramsey talks about God and uses scripture doesn't mean that its a Christian-only club.  A lot of the verses he cites are common (uncommon these days) sense sayings, such as Proverbs 22:7, "The rich rules over the poor, and the borrower is servant to the lender."  Just because it comes from the Bible, doesn't mean it can't apply to an atheist, agnostic, buddhist, muslim, etc.  Even if he removed the God aspect from his books, the information would still be completely logical, based on facts, numbers, calculations, research and hard data.  Interest and debt don't care what faith you are.

[Stupid Fitz]

The thread ruiners strike again.