Reply to Credit Card Fees Now Everywhere!

Forum Index » Money and Finances

Reply to "Credit Card Fees Now Everywhere!"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Credit card points should be illegal and cc fees should be capped at a low percentage.[/quote]
Why should points be illegal?[/quote]

Points should be illegal and I don't understand why so many people use them. For one thing, there is no guarantee that they will hold their value. My bank just sent me a letter saying that points are now worth $200 per 20,000 instead of $250, or something similar. When the bank (or airline!) can arbitrarily change their value, it puts the consumer at risk and allows the bank to encourage people to use their card with the promise of a certain amount of return but not give that return. [/quote]

That’s why the name of the game is “earn and burn!” There is a fairly high barrier to entry in the points game in the form of knowledge and understanding of the way it all works and how to maximize value. It’s like planning a trip to Disney World. It takes a lot of time to maximize it. I would consider myself intermediate/advanced at both, but it’s essentially a part-time job, with the amount of time I spend on points redemption and travel planning. I save a ton of money and we do take awesome trips though. But I consider it fun and I don’t really have other hobbies.[/quote]

Even if you don't "use it fast", points are beneficial.  Most places (except a few smaller businesses) do not offer a cash discount/charge more for using the CC.  So between that and convenience, if I'm going to use a card, I'm going to get something back, if they offer it. 
Why not?

I put my new roof on 2 credit cards a few years ago.  The company didn't charge me more (and didn't offer a "cash/check" discount), so I spread the $50K+ across 2 cards and earned my perks. It would be dumb not to (I had the $$ to pay it off) 
[/quote]

If they don’t charge you more for using a cc, it makes sense. If there’s a cash discount, it makes sense to pay cash as points are worth less than $$$.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics