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Best Credit Card Points Program (pg. 6)
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| Dr. Z |
| quote: | Originally posted by Ania_xox
My man just added me to his account with BMO and this little sucker is literally gold for air miles.
You get one air mile for every $15 vs. the standard $20. Plus at numerous locations, if you go over X amount of dollars, you get X times the air miles.
Example, when I gas up at Shell for <$30 and spend $10 in the store, I get ten times the miles.
Same idea when we shop at various grocery stores, restaurants, etc.
PLUS, you can double dip with your air miles card. So you're getting miles on the credit card AND the miles card.
AND, you get 25% off when you book your flight.
Annual fee is $90, but he pays that :D |
I've been using the silver for a while now, and I realized that you need to spend something like 10k per year with the card alone just to make up for the yearly fee of the gold. Try to calculate it. Also the 10x deal only temporary. They cycle new deals every month or two. |
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| Jem_hadar |
| quote: | Originally posted by *~LiSa-LoO~*
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YIKES habibi! Id be pissed at them too if that was my experience! :(
Ironically, one of the reasons I said I was happy w/ their fraud service is bc I got a call Monday morning from MC abt possible fraud.
Turns out I used my MC at starbucks around 9 or 10 Sunday night and then like 2 hours later it was used again in Lavel, Quebec.
A hold was placed on it immediately (thus preventing more fraudulent charges being racked up), and they called me frist thing next day to enquire and inform me abt the situation.
Anyways, similar situation as you (cards used within a short time period in areas nowhere close to each other), only they really dropped the ball with yours. I'd be bloody pissed too :( |
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| Jem_hadar |
| quote: | Originally posted by geroin
stay away from mbna cards, they are the worst for fees. |
24.99% = FAIL. |
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| rabbitjoker |
Most people never realize ROI on rewards cards (and in fact said "rewards" end up costing them due to carrying high i balances, etc.).
I do not have a problem with loyalty programs (210k+ Aeroplan miles, all via travel) but when there are costs involved in order to receive benefits I am not interested (and yes, paying interest on your credit card balance is a "cost").
Credit card companies come out on top with these programs (they wouldn't offer them otherwise). 1% of the population actually benefits from reward cards (or credit cards in general). |
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| KStuff |
| quote: | Originally posted by rabbitjoker
Most people never realize ROI on rewards cards (and in fact said "rewards" end up costing them due to carrying high i balances, etc.).
I do not have a problem with loyalty programs (210k+ Aeroplan miles, all via travel) but when there are costs involved in order to receive benefits I am not interested (and yes, paying interest on your credit card balance is a "cost").
Credit card companies come out on top with these programs (they wouldn't offer them otherwise). 1% of the population actually benefits from reward cards (or credit cards in general). |
Don't carry a balance then. The reality of the situation is that you will come out on top with a good credit card vs the alternative (cash?) if you're smart about it. |
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| goodnet |
| quote: | Originally posted by rabbitjoker
Most people never realize ROI on rewards cards (and in fact said "rewards" end up costing them due to carrying high i balances, etc.).
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After calculating ROI to demonstrate value to businesses for years, you tend to take offers from financial/credit companies with a grain (rock) of salt.
Real life experience 1
Education System 0 |
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| rabbitjoker |
| quote: | Originally posted by KStuff
Don't carry a balance then. The reality of the situation is that you will come out on top with a good credit card vs the alternative (cash?) if you're smart about it. |
The real "reality of the situation" is that few credit card holders pay the balance in full each month. Over time even fewer are able to completely avoid interest charges.
The other real "reality of the sitatuion" is that credit cards encourage overspending. They have done brain scans to look at the differences between someone using cash vs. credit to buy something: credit makes people looser with their money (the perceived "pain" of parting with money is less with credit vs. cash). |
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| KStuff |
| quote: | Originally posted by rabbitjoker
The real "reality of the situation" is that few credit card holders pay the balance in full each month. Over time even fewer are able to completely avoid interest charges.
The other real "reality of the sitatuion" is that credit cards encourage overspending. They have done brain scans to look at the differences between someone using cash vs. credit to buy something: credit makes people looser with their money (the perceived "pain" of parting with money is less with credit vs. cash). |
I'm sure there's a ton of people out there that carry balances and pay double digit interest. People in general SUCK at managing their money. However, there are a lot of individuals that are smart with their money and benefit greatly from rewards cards (flyertalk forums for example). People that use cash instead of a good reward card are missing out, and losing money. Check out this recent article:
Do Credit Cards Take from the Poor and Give to the Rich?
Not sure why you put "reality of the situation" in quotes lol :conf: |
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| *~LiSa-LoO~* |
| quote: | Originally posted by rabbitjoker
The real "reality of the situation" is that few credit card holders pay the balance in full each month. Over time even fewer are able to completely avoid interest charges.
The other real "reality of the sitatuion" is that credit cards encourage overspending. They have done brain scans to look at the differences between someone using cash vs. credit to buy something: credit makes people looser with their money (the perceived "pain" of parting with money is less with credit vs. cash). |
You're completely right, but if you have some self control and spend smartly, you really can take advantage of the perks of credit cards. I speak from experience. I use my credit card like a debit card, never spending money I don't have and paying my monthly bills in full. I use credit more than cash/debit b/c I get a penny or two back for every dollar I spend. (Decided against the travel miles b/c I already have an airmiles card.) Plus my card extends the warranty on purchases like computers, cameras etc. up to 2 years etc. I know this is far from the norm, however. |
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| Jem_hadar |
| Love that feature where all warranties on items you purchase with the credit card are extended by a year. Fantastic feature. |
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| rT19 |
| quote: | Originally posted by Jayx1
the $100 fee kills the benefits. And you must spend over 20G?
what a crappy card!
so to even qualify u must spend 20 grand and you then get 400-100=300 IF you qualify.
You are better off with no fee cards with no limits. |
I still pay the old annual fee of $59. Is has recently been increased to $100. It's great that they kept me as $59.
If you put a business on that card, you can cash in on that 2%. |
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| Jayx1 |
i dont carry a balance on the high interest points cards. If i do carry a balance i have a card that gives me 3.6 percent. So i just do a balance transfer if necessary.
Again, i dont pay ANY fees. That just takes away from the benefits. I refuse. |
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