amex everyday a joke?

[ways2go]

Just a pack of gum on Amex?    That seems kind weird?   I hope it was a big pack of gum... 

[longtimelurker]

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@ways2go wrote:

Just a pack of gum on Amex?    That seems kind weird?   I hope it was a big pack of gum... 

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Why, it's just a credit card!

[fot1]

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@watch44 wrote:

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@rlx01 wrote:

This has turned into a weird thread, but really, the 5% cards are pretty pointless once your spend hits a certain amount since the caps are really low. It's not worth the thinking time vs just using a CSP, SPG or PRG/EDP.

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+1

But I wouldn't say it's pointless. Credit card rewards maximizing should be about dead last on one's financial to-do list IMO, right behind switching to store brand TP. Trying to maximize returns on credit card spending is about as counter-productive as it gets. Why not just spend less and save? We're obviously not talking about the necessities of life with the spend numbers being thrown around here anyway. 

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Or why not get rewards/cashback  on what you already have to spend money on?

[longtimelurker]

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@fot1 wrote:

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@watch44 wrote:

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@rlx01 wrote:

This has turned into a weird thread, but really, the 5% cards are pretty pointless once your spend hits a certain amount since the caps are really low. It's not worth the thinking time vs just using a CSP, SPG or PRG/EDP.

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+1

But I wouldn't say it's pointless. Credit card rewards maximizing should be about dead last on one's financial to-do list IMO, right behind switching to store brand TP. Trying to maximize returns on credit card spending is about as counter-productive as it gets. Why not just spend less and save? We're obviously not talking about the necessities of life with the spend numbers being thrown around here anyway. 

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Or why not get rewards/cashback  on what you already have to spend money on?

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I think watch44's point is that many people are spending money they don't need to spend (the "necessities of life" comment).  A lot of studies (some disputed) show that rewards cards really do increase spending,  perhaps because things seem cheaper "But I'm getting 5% off, so I'll buy two!" or to reach goals "If I spend another $1000, I'll have enough for an extra night at the resort"

So if you are trying to cut spending, worrying about rewards probably isn't the priority, as watch44 states.   But if you are sure that all your spending is needed, or you are happy with it, then yes, optimizing rewards makes sense.

[fot1]

Meh.. Guess I look at maximizing rewards akin to saving money..YMMV

[longtimelurker]

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@fot1 wrote:

Meh.. Guess I look at maximizing rewards akin to saving money..YMMV

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Well, I can sell you a half-brick (edges a little damaged) for $250K.   But if you use your Chase Freedom, you will get 20% off and it only costs $200K!   And I will send it UPS Overnight!

So, using the Freedom, you will have done a great job optimizing rewards.   Saving money?  Only if you really planned to buy my half-brick.  

[fot1]

Well i buy half a brick every two weeks( 13 bricks annually as opposed to buying one full brick a month for 12 bricks annually) so score.. I save money, earn rewards and get overnight shipping.. As Charlie Sheen once said.. "Winning"

Again YMMV..I know when grocery shopping I swapped my debit card out for the BCE and later swapped that out for the Sallie Mae. My monthly grocery budget has stayed the same and come the end of the year Barclays will be buying all the xmas presents..maximizing rewards saves me money..I just think the original comment paints with far to broad a brush. I said my piece, will move on to the next thread now.

[BluePoodle]

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@aiaru231 wrote:

hi bluepoodle-I have a question. You were approved for the amex everyday with a 90 day late on student loan and a colelctions? Just curious because I'd love to get an Amex-I have a 90 day late from student loan dating back to April 2010-so 4 years plus 1 paid collection for $61. Ex score is 670- TU 671 Equifax not sure.

I'm trying to get a goodwill done to get this removed or marked as 30 day late but still in progess-i have 22% utiliation-only 3 credit cards

Thanks!

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Yes, I have 3 baddies but only 2 on TU; a 90 day late from my student loans (i cant remember but a little over 2 years old I believe), the collection that I have is only reporting on EQ and EX, not TU and Amex pulls TU so that wasn't on the report. But my last baddie is a State Tax Lien and it was on the report. My TU Fico Score was 703 according to my Sallie Mae report  which was reported a couple of days after Amex pulled my report.  My Util was reporting 20% on the two cards I had during the time of the HP.  

Good luck!!!

[bk510]

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@Josh2942 wrote:
More power to you man. It seems inconceivable to me that our fellow myfico members that have 6+ Cards would swipe 20+ on one card. But I also don't shop much and like to horde cash in my savings. I usually only swipe mainly gas a red bull package of 10 and that's it. I save two checks and use the other two to pay bills. If bill paying counts I could probably meet the 20 purchases. But if it's flat out swipes maybe not.

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So are you saying that when paying bills say like a cable bill online,  doesnt that count as a swipe?

[bk510]

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@MoreRewards wrote:
Is it actually swipes? If it had to be POS purchase I couldn't meet it. Though I'm sure some people can. Like my SO swipes every work day on the way at gas station for small purchase. Then any time we eat out or his actual gas purchase, other store purchases. That's got to be 30 swipes.
I don't swipe near as much. But if it's just "use" & not swipe I could meet. Gas, bill pay, online purchases, ect. I got a new card weds I've already made 11 purchases but only 4 actual swipes.

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a purchase vs swipe, arent they considered the same, since you put a charge on it, so this would count as total of 11 swipes right?

am i not understanding something?