Steverinos
Steverinos
Joined: Jul 6, 2016
  • Threads: 5
  • Posts: 1420
February 18th, 2019 at 4:05:06 PM permalink
Quote: EvenBob

That will kill my wife. She's puts everything
on her rewards card. I have a couple and
never even use them, I hate stuff like that.
Just like I hate comps.


Well if you're spending the money anyway, might as well get the comps.
EvenBob
EvenBob
Joined: Jul 18, 2010
  • Threads: 421
  • Posts: 23034
February 18th, 2019 at 4:15:58 PM permalink
Quote: Steverinos

Well if you're spending the money anyway, might as well get the comps.



I don't like all the crap that goes with
it. People spend a huge amount of
time wringing their hands, losing
sleep, and arguing about comps.
I never give them a second thought.
"It's not enough to succeed, your friends must fail." Gore Vidal
unJon
unJon
Joined: Jul 1, 2018
  • Threads: 8
  • Posts: 990
Thanks for this post from:
SOOPOO
February 18th, 2019 at 5:47:40 PM permalink
Quote: EvenBob

I don't like all the crap that goes with
it. People spend a huge amount of
time wringing their hands, losing
sleep, and arguing about comps.
I never give them a second thought.



I donít wring my hands or lose sleep or argue over comps. But I take what they give me.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
Aussie
Aussie
Joined: Dec 29, 2009
  • Threads: 12
  • Posts: 397
February 19th, 2019 at 1:34:36 AM permalink
Quote: Steverinos

There's an interesting battle heating up between banks and retailers over the interchange fee that rewards cards are collecting. Retailers want the right to negotiate that fee. Because of this higher fee, and the lack of negotiating power retailers have in these networks, retailers are starting to raise their prices to compensate, effectively passing the costs of the rewards to consumers themselves.

The AP credit card bonus game is going to look a lot different in 5 years, if it even exists at all.





We have seen maximum interchange fees legislated here in Australia recently. 0.8%. So far the change has been to the EARN rates on these cards. Much lower than previously. But the reality is that unless you have your own business to pump expenses on to it, you will never earn a significant amount of points through spend. The sign up bonuses are where the big chunks of points are and this is just as good as ever.

There are always promos that come up so if the credit card churning game becomes less lucrative there is always the next promo. Why did I take out 15 pet insurance policies last week again? ;)
DRich
DRich
Joined: Jul 6, 2012
  • Threads: 67
  • Posts: 4686
Thanks for this post from:
RogerKint
February 19th, 2019 at 5:53:42 AM permalink
Quote: Aussie

Why did I take out 15 pet insurance policies last week again? ;)



I am a credit card bonus whore. Could you explain the pet insurance?
Living longer does not always infer +EV
gamerfreak
gamerfreak
Joined: Dec 28, 2014
  • Threads: 43
  • Posts: 2875
Thanks for this post from:
RogerKint
February 19th, 2019 at 7:23:56 AM permalink
Quote: EvenBob

But if they do verify it in bankruptcy
court, and you make $35K and you
claimed $80K, off to prison you go.
Examples on the net..


Can you post an example of someone going to prison over misrepresenting income in on a Credit Card application?
darkoz
darkoz
Joined: Dec 22, 2009
  • Threads: 211
  • Posts: 5289
February 19th, 2019 at 8:12:19 AM permalink
Quote: gamerfreak

Can you post an example of someone going to prison over misrepresenting income in on a Credit Card application?



Paul Manafort lol
TigerWu
TigerWu
Joined: May 23, 2016
  • Threads: 18
  • Posts: 3412
February 19th, 2019 at 9:05:52 AM permalink
Quote: darkoz

Paul Manafort lol



Pfff.... that was just a process crime.
Aussie
Aussie
Joined: Dec 29, 2009
  • Threads: 12
  • Posts: 397
February 19th, 2019 at 11:59:42 AM permalink
Quote: DRich

I am a credit card bonus whore. Could you explain the pet insurance?




This one is obviously a promotion in Aus but it was take out a pet insurance policy and the would give you reward points that could be converted to 8,700 Qantas miles. The terms of the promo have allowed multiple lots of bonus points to be earned.

The cheapest policy I found was approx $9 per fortnight. The miles would credit after 30 days meaning 3 payments ($27) before I can cancel the policy. 8,700 Qantas points is conservatively valued at just under $100.

I have done many promotions like this where the value of the airline miles is far more than the cost to participate. As a result I donít fly economy/coach long haul.
billryan
billryan
Joined: Nov 2, 2009
  • Threads: 153
  • Posts: 7575
February 19th, 2019 at 12:10:38 PM permalink
Quote: darkoz

Paul Manafort lol



Lying on a mortgage application is a Federal crime, supposedly because the Federal Government guarantees them to some extent. I'm not sure a credit card application is the same.

  • Jump to: