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Misc 2021-22 Fall/Winter Whamby Thread

smast16 said:
I'm not. All the CC's (mine included) sit in the safe, and I have the key. Mostly do it for Interest. Why am i going to pay a bank interest to buy it today, when i can wait 2 -4 weeks and pay no interest... that add up!
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I go the opposite route, I pay everything with sky miles and get free flights. I like only have 5 or less bank transactions per month.
 
J.C. said:
I go the opposite route, I pay everything with sky miles and get free flights. I like only have 5 or less bank transactions per month.
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But are you really saving money? This game only works if you pay the charge, the day the charge drops on your card.

Don't be fooled by their marketing of "Free Miles" Sure you got a $400 free flight, but you also paid $800 that year in interest to them.
 
smast16 said:
I'm not. All the CC's (mine included) sit in the safe, and I have the key. Mostly do it for Interest. Why am i going to pay a bank interest to buy it today, when i can wait 2 -4 weeks and pay no interest... that add up!
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That part I believe, y'all acting like you tell your wives what to do..........bahahahahahahahahahaha
 
smast16 said:
But are you really saving money? This game only works if you pay the charge, the day the charge drops on your card.

Don't be fooled by their marketing of "Free Miles" Sure you got a $400 free flight, but you also paid $800 that year in interest to them.
Click to expand...

I pay the balance every month, I wouldn't do it otherwise. Think of it this way, if you spend 3-10k a month in everything that you buy, that is basically a round trip flight every 2 to 6 months depending on where you go for just spending money that you would have spent anyways. I've already used most of my miles to buy two flights each to Cabo and Cancun this year. I think most sky miles users use their miles for first class upgrades, that is above my pay grade though.

Credit cards are no good if you're going to run a balance. People that own small to medium size businesses are spending upwards of 50-100k+ per month, all miles.
 
smast16 said:
But are you really saving money? This game only works if you pay the charge, the day the charge drops on your card.

Don't be fooled by their marketing of "Free Miles" Sure you got a $400 free flight, but you also paid $800 that year in interest to them.
Click to expand...
My AMEX gives me 6% back on groceries. Works out to $600+ a year. Haven't paid a cent of interest. Free money.
 
J.C. said:
I pay the balance every month, I wouldn't do it otherwise. Think of it this way, if you spend 3-10k a month in everything that you buy, that is basically a round trip flight every 2 to 6 months depending on where you go for just spending money that you would have spent anyways. I've already used most of my miles to buy two flights each to Cabo and Cancun this year.

Credit cards are no good if you're going to run a balance. People that own small to medium size businesses are spending upwards of 50-100k+ per month, all miles.
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This. If you are smart with credit cards you can make alot of the rewards and never pay interest.
 
smast16 said:
But are you really saving money? This game only works if you pay the charge, the day the charge drops on your card.

Don't be fooled by their marketing of "Free Miles" Sure you got a $400 free flight, but you also paid $800 that year in interest to them.
Click to expand...

The interest only starts if you pay just the minimum amount due and a balance carries over to the next billing cycle.

Pay it in full every week or every billing cycle and you won't pay a penny of interest. I own a small business and I charge about $250k/yr on different credit cards. My cash back or mileage rewards each year are probably $5000 range after taking out any annual fees on the credit cards.

As someone else said on this thread, it's free money.
 
Broken024 said:
This. If you are smart with credit cards you can make alot of the rewards and never pay interest.
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I love my Bass Pro Shops card! I don’t know if I get anything for free, but it makes me happy!?
 
J.C. said:
I pay the balance every month, I wouldn't do it otherwise. Think of it this way, if you spend 3-10k a month in everything that you buy, that is basically a round trip flight every 2 to 6 months depending on where you go for just spending money that you would have spent anyways. I've already used most of my miles to buy two flights each to Cabo and Cancun this year. I think most sky miles users use their miles for first class upgrades, that is above my pay grade though.

Credit cards are no good if you're going to run a balance. People that own small to medium size businesses are spending upwards of 50-100k+ per month, all miles.
Click to expand...

If you're making money off the CC companies, cool. CC companies are in the business of making money, and i'm sure they are better at math than we are.
 
smast16 said:
If you're making money off the CC companies, cool. CC companies are in the business of making money, and i'm sure they are better at math than we are.
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Math is pretty simple. I pay them nothing, they pay me.

Credit card companies make money 2 ways:
-Transaction charges paid by businesses
-Interest on balances card holders don't pay off

Not advanced calculus here
 
Broken024 said:
Math is pretty simple. I pay them nothing, they pay me.

Credit card companies make money 2 ways:
-Transaction charges paid by businesses
-Interest on balances card holders don't pay off

Not advanced calculus here
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One of us needs to find what CC companies are making off interest charges per year, I’m sure it’s astronomical. They could care less about people like us getting points and flights with all the profit coming in from the latter and transaction fees.
 
I’ve had a credit card for 2 almost 3 months and spent enough to get about 10 dollars back . They double whatever I have racked up in miles after a year . It’s easy, I just pay for what I would have paid for with my debit card anyways then when the statements posts just pay it off.
 
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