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Real honest people use their credit cards for the convenience, unfortunately; many of them over here abuse the credit card system and yes they make hard for all of US.
Sometime, I wonder if these MS practitioners; have J.O.B or even a real life!
@peaceonearth wrote:Real honest people use their credit cards for the convenience, unfortunately; many of them over here abuse the credit card system and yes they make hard for all of US.
Sometime, I wonder if these MS practitioners; have J.O.B or even a real life!
The convenience comes at a cost to the most disadvantaged, who have to pay higher prices without the benefit of rewards, get payday loans etc. Not a problem?
Whereas taking a tiny amount of profit from banks?
Don't know about a real life, but in almost all cases (I know of one exception) they are employed. Heavy MS is a game for the fairly affluent, as you have to prepared to float large amounts of money.
But then I'm not a real honest person, so .......
@longtimelurker wrote:
@peaceonearth wrote:Real honest people use their credit cards for the convenience, unfortunately; many of them over here abuse the credit card system and yes they make hard for all of US.
Sometime, I wonder if these MS practitioners; have J.O.B or even a real life!
The convenience comes at a cost to the most disadvantaged, who have to pay higher prices without the benefit of rewards, get payday loans etc. Not a problem?
Whereas taking a tiny amount of profit from banks?
Don't know about a real life, but in almost all cases (I know of one exception) they are employed. Heavy MS is a game for the fairly affluent, as you have to prepared to float large amounts of money.
But then I'm not a real honest person, so .......
I never heard or knew about MS until I joined myfico, I found out what MS was after doing some research of course.
You must be honest to admit you're not real honest.
@kdm31091 wrote:I just think it's kind of wrong to get $5K plus a month in rewards by "cheating" the system, having a card shut down, and then complaining when the companies end up reducing the rewards, often drastically, it ruins it for everybody. But it's obviously an individual decision to make.
It's not.
Whether it's wrong or not is kind of an individual decision, hence why I said "I feel" it is wrong. But some people do it and are fine with it, and that's fine too. Whatever floats your boat. To me personally, it feels like cheating. If it feels legitimate to you, then go ahead. Just don't complain when they cancel or flag your account, and/or ruin the rewards programs for other cardholders. That was my point.
@kdm31091 wrote:Whether it's wrong or not is kind of an individual decision, hence why I said "I feel" it is wrong. But some people do it and are fine with it, and that's fine too. Whatever floats your boat. To me personally, it feels like cheating. If it feels legitimate to you, then go ahead. Just don't complain when they cancel or flag your account, and/or ruin the rewards programs for other cardholders. That was my point.
Oh I understand
It's certainly against policy of the card issuer and just like gambling, some are willing to take the gamble they won't be noticed.. And if they get away with it? More power to them! Personally, Our household costs/bills for living are high enough that I get enough back in rewards monthly to cover a couple of range trips a month, so I don't need to "cheat" the system.
I do however find ways around things like not getting 5% back at Sam's Club by buying WM GC's at WM and using at SC.
@longtimelurker wrote:Yes, sometimes it is. Some people were making $5K+ a month, tax free, so being shutdown after 9 months of rewards is well worth it by most standards. Using credit cards, particularly rewards cards, pushes prices up for those that cannot get credit cards (as merchants raise prices for all to mitigate increased swipe fees) and this includes the most vulnerable, so please, don't use cards! Or is that OK because it's what you do?
I won't get into why this doesn't make any sense whatsoever economically (but in short, cost does not determine price, supply and demand does - and if a product cannot be made and brought to market by somebody at a cost under that market price, then that product simply does not make to or stay in market), but this argument has nothing to do with MS. A merchant has a choice as to whether to accept credit cards. If it's a form of payment they accept, then you can use a card to pay. This summer, I was at the ABBA Museum in Stockholm, and they are a cashless merchant - meaning that you couldn't pay with cash even if you wanted to.
The form of payment a merchant chooses to accept is completely different from someone gaming the system when it comes to rewards cards. Which is what MS is. It is expressly against the terms of service which a user accepts in order to use a credit card, and it forces issuers to nerf rewards, making it suck for others who play by the rule. That's the difference. People who are using credit cards at merchants that accept them are playing by the rules, those who use Visa gift cards to rack up MS are expressly gaming the system.
Now, addressing the OP, not all gift cards are created equal. If you are buying merchant-specific gift cards, like Starbucks or Target or AMC, you should be fine. These aren't cash equivalents, because you cannot turn those cards directly back into cash (for example by buying a money order). If you buy Visa gift cards for a reasonable amount, like others have mentioned here, you will end up paying more to activate the card than you would earn in rewards.
yum.... ice cream
you guys are making me hungry over here.
@elim wrote:yum.... ice cream
you guys are making me hungry over here.
Rum raisin plz.
I wouldn't have any problems throwing ethics out the window and engage in MS if it weren't for the fact that I'm lazy and it's just to damn much work!