We chase the points. The 'welcome' offers are absolutely worth it. We play the game taking out cc, getting the 100,000 points the bank is offering and then close it.

Reply to article

For original story, Click Here.

That is the dumbest article I have ever read with an almost moronic analysis.

Define overspending? So people spend $487 per month every month on things they won't have bought if they paid cash? Give me a break!

An Amex that earns 1.25 points per dollar has a fee of $450 comes with a travel credit of $450 so net cost is $0.

Redeeming points for gift cards is the worst possible value for points redemption. Redeeming points for flights in premium cabins is the best value.

Reply to article

For original story, Click Here.

What exactly am I overspending on.

Reply to article

For original story, Click Here.

The 'overspending' is research based - Dunn and Bradstreet research, Citibank research and independent academic research have the overspend at between 12-100%. You might not like it or agree with it, but the data doesn't lie. We see that overspend also with Buy Now Pay Later. If you go to Afterpay's own website, they declare on there that when someone uses Afterpay they'll spend an extra 40% and shop more often. It's about realising that these convenient products are costing us money.

Reply to article

For original story, Click Here.

Good article. There's a reason Dave Ramsey and the barefoot investor don't recommend credit cards. One thing you didn't mention is the higher surcharges incurred by credit card over debit cards, often poorly disclosed and paid for by either the retailer or credit card holder. Someone is paying for the points and often its the person with the CC.

Reply to article

For original story, Click Here.