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@Fico2Go wrote:Lexie... rewards whether baggage fees or seat upgrade or concierge services can be paid with cash too. So I'm not quite convince.. not yet a tleast.. that cash is inferior to rewards programs. Unless of course the value in rewards broken down as cost value exceeds that which cash could buy.
Some use cards to finance making money again PIF
I have a buddy rehabs houses pays cash for the house dirt cheap
CC's to remodel and then sells all within a 30-45 day period
Myjourney.. On your final comment "IMHO you need to broaden the way your looking at cards." Yes I am aware that CCs can be great substitutes for short term interest free loans. But there's also risks in doing so. I won't get too much into this but yes u are correct.
I think you are missing my poInt. I'm not paying for these upgrades- they are a product of simply using my cards for everyday purchases. Yes, I can pay for upgrades but why would I if I can get them for free?
@Fico2Go wrote:Lexie... rewards whether baggage fees or seat upgrade or concierge services can be paid with cash too. So I'm not quite convince.. not yet a tleast.. that cash is inferior to rewards programs. Unless of course the value in rewards broken down as cost value exceeds that which cash could buy.
Some use cards to finance making money again PIF
I have a buddy rehabs houses pays cash for the house dirt cheap
CC's to remodel and then sells all within a 30-45 day period
Myjourney.. On your final comment "IMHO you need to broaden the way your looking at cards." Yes I am aware that CCs can be great substitutes for short term interest free loans. But there's also risks in doing so. I won't get too much into this but yes u are correct.
The same risk exists every time you swipe
Anyone's financial picture can change at any given moment of time in seconds..
Due to health, job, market change, etc etc
I stive for higher limits for a few reasons:
1.) Purchasing Power - For instance if a business trip will cost me 10k, it's nice to have a single card that can accomodate.
2.) Points Power - Higher credit limits allow me to take better advantage of purchase rewards without approaching my credit ceiling
3.) Product Flexibility - For a while I wanted the CSP, but was denied because Chase wants to see at least one account with 5k
3.) Develop Credit Profile - if managed responsibly, may help with larger purchases down the road (Home, Auto, etc...)
Lexie.. with all due respect cashback is teh same way. You are getting cashback on things u buy everyday too. Only instead of earning points u earn actual money that can be used for anything u so desire. Further I don't believe these rewards whether points or cash are free at all. It's not like creditors are giving us rewards and/or cashback where no purchase is necessary. It's free with a condition of spending.
I understand your point.. let's not get too technical on what free means.
@Fico2Go wrote:Lexie.. with all due respect cashback is teh same way. You are getting cashback on things u buy everyday too. Only instead of earning points u earn actual money that can be used for anything u so desire. Further I don't believe these rewards whether points or cash are free at all. It's not like creditors are giving us rewards and/or cashback where no purchase is necessary. It's free with a condition of spending.
I understand your point.. let's not get too technical on what free means.
Certain mom-and-pop establishments might give you a discount for using cash. If so, then it's obviously going to be a better deal than most credit cards rewards program. Big box retailers, such as Walmart, are not going to adjust their price regardless of the method of payment.
Just think of rewards as discounts on your purchases.
@Fico2Go wrote:Lexie.. with all due respect cashback is teh same way. You are getting cashback on things u buy everyday too. Only instead of earning points u earn actual money that can be used for anything u so desire. Further I don't believe these rewards whether points or cash are free at all. It's not like creditors are giving us rewards and/or cashback where no purchase is necessary. It's free with a condition of spending.
I understand your point.. let's not get too technical on what free means.
Many cards include upgrades (and other benifits) as a perk of the card (not conditional based on spending). Any points accrued can be used for additional beneifts not included with the card (i.e. redemption for hotel stays or flights, etc...)
I believe this is what Lexie is referring to.
@Fico2Go wrote:Lexie.. with all due respect cashback is teh same way. You are getting cashback on things u buy everyday too. Only instead of earning points u earn actual money that can be used for anything u so desire. Further I don't believe these rewards whether points or cash are free at all. It's not like creditors are giving us rewards and/or cashback where no purchase is necessary. It's free with a condition of spending.
I understand your point.. let's not get too technical on what free means.
Not getting technical at all. You are entitled to your belief and opinions. However, I have and have had rewards and cashback cc's. I receive more benefits with paying using might credit card -which was the topic- then using the cashback I earned.
By using my credit card, I continue to benefit from not only the charge, the protection, the security but my credit history.
There is no way, I would have been able to qualify for multiple homes, leases, loans etc by showing a lender just my bank account.
@icetrap06 wrote:
@Fico2Go wrote:Lexie.. with all due respect cashback is teh same way. You are getting cashback on things u buy everyday too. Only instead of earning points u earn actual money that can be used for anything u so desire. Further I don't believe these rewards whether points or cash are free at all. It's not like creditors are giving us rewards and/or cashback where no purchase is necessary. It's free with a condition of spending.
I understand your point.. let's not get too technical on what free means.
Many cards include upgrades (and other benifits) as a perk of the card (not conditional based on spending). Any points accrued can be used for additional beneifts not included with the card (i.e. redemption for hotel stays or flights, etc...)
I believe this is what Lexie is referring to.
This is correct
@Fico2Go wrote:My Journey... I bet the credit companies know this all too well. They know that even if they grant CLs of $50K the accountholder will use no more than $10K.
And if that person uses more than 10K a domino effect begins to take hold.
AA for possible account closure;
Other creditors following suit;
interest rate goes up;
Seems all our hardwork to RECON and request for CLIs may not be all that useful if in fact we can't or wont be allowed to effectively use the it.Shall I say a glass ceiling effect is in place?
I have no idea where you are getting any of this information from- it hasn't happened to me and from plenty of people I know personally. Those it may happen to have usually caused the lender to do a CLD or AA.
It doesn't just happen because today is Wednesday.
@09Lexie wrote:
@Fico2Go wrote:My Journey... I bet the credit companies know this all too well. They know that even if they grant CLs of $50K the accountholder will use no more than $10K.
And if that person uses more than 10K a domino effect begins to take hold.
AA for possible account closure;
Other creditors following suit;
interest rate goes up;
Seems all our hardwork to RECON and request for CLIs may not be all that useful if in fact we can't or wont be allowed to effectively use the it.Shall I say a glass ceiling effect is in place?
I have no idea where you are getting any of this information from- it hasn't happened to me and from plenty of people I know personally. Those it may happen to have usually caused the lender to do a CLD or AA.
It doesn't just happen because today is Wednesday.
If OP is searching through old posts and reading too much from 2008-2009, that could explain it. OP, aggressive AA isn't that common anymore.