@Anonymous wrote:
What I mean is I'd rather be earning "miles" instead of cash back percentages. With the Venture One, I'd be earning 1.25 miles per dollar. In response to your question regarding the Thank You Preferred, I don't care about keeping it, would like to product change it soon, it's just an extremely old line of credit.
Most people convert miles or points on credit cards to dollar amounts to see if there is a benefit to the card. In this way they can understand better if the miles or the points are a better option. They look at what the points or miles can buy in relation to actual money. What is found is that many miles programs are actually worth less than simply getting cash back and using the cash back for buying or redeeming. Banks know that some people wont put forth the effort to figure it out if there is a true benefit or not and even offer no black out dates for redemption to try and fool you into the usefulness of their card. So the psychological concept is that offering miles, which some people find useful for whatever reason such as having the opportunity to travel, becomes a benefit in their mind but not in reality compared to cash back. Some people don't fly that much buy would like the opportunity to save up for a vacation, others fly so much they can benefit from flight miles. Those that fly that much have the cards that are truly a benefit in regards to not only the miles but the added benefits such as lounges for which they would otherwise pay a fee directly to an airline for. The best travel cards come with a lot of perks and a high fee, it is the perks that make the benefit. Another benefit comes in free baggage such as the second bag free which might cost up to $100.
Generally speaking it is not the miles that make the benefit but the other cumulative perks: lounges, companion tickets, no FTF, free baggage, airline direct purchases, and the like.
It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
