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New Contributor
heathuhhhhwebbbb
Posts: 163
Registered: ‎10-18-2012
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Miles

What is an average number of miles earned per dollar spend on a prime travel rewards card?

 

 

Thanks!

09/2013: TU FICO 692, EQ FICO 698, EX PLUS 709. No apps until December 2014!
Freedom: $1500 Cap1 Plat: $2000 Cap1 Cash: $1500 Barclays: $4000 Walmart: $2700 GE Luxury: $4800 Jared: $1500 Davids Bridal: $1500
Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
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Re: Miles


heathuhhhhwebbbb wrote:

What is an average number of miles earned per dollar spend on a prime travel rewards card?

 

 

Thanks!


1

 

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
New Contributor
heathuhhhhwebbbb
Posts: 163
Registered: ‎10-18-2012
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Re: Miles

Oh okay.  I just got the Cap1 executive office to give me 1.25 miles for every dollar spent and I wasn't sure if that was "good".  LOL

09/2013: TU FICO 692, EQ FICO 698, EX PLUS 709. No apps until December 2014!
Freedom: $1500 Cap1 Plat: $2000 Cap1 Cash: $1500 Barclays: $4000 Walmart: $2700 GE Luxury: $4800 Jared: $1500 Davids Bridal: $1500
Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
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Re: Miles


heathuhhhhwebbbb wrote:

Oh okay.  I just got the Cap1 executive office to give me 1.25 miles for every dollar spent and I wasn't sure if that was "good".  LOL


Look up a great blog called the boardingarea and you'll quickly find out about credit card churning and how worthless these miles/points cards are after their sign-up bonus has been applied to your account.

 

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Established Contributor
Cdnewmanpac
Posts: 766
Registered: ‎01-16-2012
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Re: Miles

First, keep in mind that capital 1 "miles" are not the same as frequent flyer miles. Think of them as cash back points that you redeem after you purchase airline tickets using the card. Second, I'm not sure how you could read boarding area or flyer talk and come away with the impression that travel cards are only useful for the sign up bonuses. Unless you mean cap 1 specifically. Or do you mean for people who don't travel? For people who fly or stay at hotels frequently, miles or points often have greater value than straight cash back. 

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
New Contributor
heathuhhhhwebbbb
Posts: 163
Registered: ‎10-18-2012
0

Re: Miles


Cdnewmanpac wrote:

First, keep in mind that capital 1 "miles" are not the same as frequent flyer miles. Think of them as cash back points that you redeem after you purchase airline tickets using the card. Second, I'm not sure how you could read boarding area or flyer talk and come away with the impression that travel cards are only useful for the sign up bonuses. Unless you mean cap 1 specifically. Or do you mean for people who don't travel? For people who fly or stay at hotels frequently, miles or points often have greater value than straight cash back. 


Gotcha.  I just did some playing around on the rewards menu.  I think I will benefit more from the "miles" from Cap1 though, rather than Cash Back (since I have two other cash back rewards cards).  I don't think I made the wrong choice for my own personal needs.

09/2013: TU FICO 692, EQ FICO 698, EX PLUS 709. No apps until December 2014!
Freedom: $1500 Cap1 Plat: $2000 Cap1 Cash: $1500 Barclays: $4000 Walmart: $2700 GE Luxury: $4800 Jared: $1500 Davids Bridal: $1500
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Miles


heathuhhhhwebbbb wrote:

Cdnewmanpac wrote:

First, keep in mind that capital 1 "miles" are not the same as frequent flyer miles. Think of them as cash back points that you redeem after you purchase airline tickets using the card. Second, I'm not sure how you could read boarding area or flyer talk and come away with the impression that travel cards are only useful for the sign up bonuses. Unless you mean cap 1 specifically. Or do you mean for people who don't travel? For people who fly or stay at hotels frequently, miles or points often have greater value than straight cash back. 


Gotcha.  I just did some playing around on the rewards menu.  I think I will benefit more from the "miles" from Cap1 though, rather than Cash Back (since I have two other cash back rewards cards).  I don't think I made the wrong choice for my own personal needs.


1.25 is ok but 1.5 cash back works out better, although in all fairness i prefer points or miles cause cash back feels like I'm just getting money and deposit to my account and I don't feel like I earned it i just feel like i got some money back, with points i feel like it's free money, i dunno just weird mindset.  but regardless 1.5% cash back would be much better than 1.25 points or miles. I would take the cash back and just pay for my own ticket, but at that limit even if you max it out and pay in full once every month you would only be looking at $15 a year extra you would have in bonuses a year. if you chose cash back


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Established Contributor
masscredit
Posts: 855
Registered: ‎07-17-2012
0

Re: Miles

I prefer the mileage. I used to have two AMEX SkyMiles accounts that I used for my business. Those cards got used every month and I racked up over 1 mil miles over time. The mileage does feel better than getting cash back. It's kind of like a partically free trip somewhere.

 

It was 1 for every $1. 


|****$8000****|****$6000*****|****$6000*****|****$2500****|****$1600****|****$3000*****|*****$1400*****|****$1350*****|
EX - 657 (MyFico 10/02/14) TU - 657 (Walmart 11/08/14 ) EQ 04 - 701 (DCU -11/28/14) EQ 08 - 684 (MyFico -12/04/14)
New Contributor
CardinalRules
Posts: 69
Registered: ‎06-27-2012
0

Re: Miles

Miles are worth more than cashback for me, and many others. Even at 1.25 mile to 1.5 cashback. That's because you can redeem miles at a very good rate and get more value for your money than if you just bought a ticket with cash.  

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Discover More - $2.5k
Wells Fargo Cash Back - $1.9k
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HiLine
Posts: 3,162
Registered: ‎10-19-2012
0

Re: Miles

Frequent flyer miles are worth more than 1 cent. General travel rewards miles are worth 1 cent or less; they are redeemable at a value of 1 cent per mile, but the condition that they can only be redeemed for travels makes them worth less than cash back. 

 

You can get at least 1.5 mile per dollar spent with the Bankamericard Travel Rewards card. It's 1.65 miles if you have a checking account with them.


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