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mongstradamus
Super Contributor

reward miles

This may be an bit of an odd question, but what do most people use reward miles for if they dont plan on using it for traveling or hotels? Are gift cards the most effective way of cashing out ?



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 1 of 10
9 REPLIES 9
myjourney
Super Contributor

Re: reward miles

70% of the time gift cards are a last resort 

You just keep stacking points until your ready IMO

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 10
CreditScholar
Valued Contributor

Re: reward miles


@myjourney wrote:

70% of the time gift cards are a last resort 

You just keep stacking points until your ready IMO


+1. If you don't plan on travelling, don't bother with an airline/hotel rewards card. You'll be better off with a cash back card in the long-run.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 3 of 10
Dustink
Valued Contributor

Re: reward miles

I'm sure there are sketchy ways to sell the miles.

 

Or book flights for friends ect.

 

Don't waste the miles on gift cards.

 

Which credit cards do you have miles from?

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 4 of 10
mongstradamus
Super Contributor

Re: reward miles


@Dustink wrote:

I'm sure there are sketchy ways to sell the miles.

 

Or book flights for friends ect.

 

Don't waste the miles on gift cards.

 

Which credit cards do you have miles from?


It an capital one World MC i have , i didn't plan on using it that much or travelling that was why i was thinking of cashing out. Right now I will be probably using my cash back cards mostly. I usually just use that card for my cable and cell bills every month thats about it. 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 5 of 10
CreditScholar
Valued Contributor

Re: reward miles


@mongstradamus wrote:

@Dustink wrote:

I'm sure there are sketchy ways to sell the miles.

 

Or book flights for friends ect.

 

Don't waste the miles on gift cards.

 

Which credit cards do you have miles from?


It an capital one World MC i have , i didn't plan on using it that much or travelling that was why i was thinking of cashing out. Right now I will be probably using my cash back cards mostly. I usually just use that card for my cable and cell bills every month thats about it. 


That's essentially the same thing as a cash back card anyways.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 6 of 10
Dustink
Valued Contributor

Re: reward miles


@mongstradamus wrote:

@Dustink wrote:

I'm sure there are sketchy ways to sell the miles.

 

Or book flights for friends ect.

 

Don't waste the miles on gift cards.

 

Which credit cards do you have miles from?


It an capital one World MC i have , i didn't plan on using it that much or travelling that was why i was thinking of cashing out. Right now I will be probably using my cash back cards mostly. I usually just use that card for my cable and cell bills every month thats about it. 


Yeah, no worries with that card.

 

I thought you were refering to an airline miles card or something along those lines.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 7 of 10
mongstradamus
Super Contributor

Re: reward miles


@Dustink wrote:

@mongstradamus wrote:

@Dustink wrote:

I'm sure there are sketchy ways to sell the miles.

 

Or book flights for friends ect.

 

Don't waste the miles on gift cards.

 

Which credit cards do you have miles from?


It an capital one World MC i have , i didn't plan on using it that much or travelling that was why i was thinking of cashing out. Right now I will be probably using my cash back cards mostly. I usually just use that card for my cable and cell bills every month thats about it. 


Yeah, no worries with that card.

 

I thought you were refering to an airline miles card or something along those lines.


yeah i don't have that many miles/points on them so its no big deal i can just use it sparingly. Right now the plan is to use BCP for most everday purchases, and maybe discover/freedom whenever i need something from amazon or something. I thought it would be an good idea to keep that card if I ever go over seas since MC is accepted in an lot more places, and there is no FTF with cap one if i recall. 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 8 of 10
takeshi74
Senior Contributor

Re: reward miles


@mongstradamus wrote:

This may be an bit of an odd question, but what do most people use reward miles for if they dont plan on using it for traveling or hotels? Are gift cards the most effective way of cashing out ?


No idea what most people do.   The only miles card I have is the MileagePlus Explorer so I only use miles for air travel.

 

You should be able to determine what's most effective.  It's going to depend on what you're specifically asking about as programs vary.

Message 9 of 10
mongstradamus
Super Contributor

Re: reward miles


@takeshi74 wrote:

@mongstradamus wrote:

This may be an bit of an odd question, but what do most people use reward miles for if they dont plan on using it for traveling or hotels? Are gift cards the most effective way of cashing out ?


No idea what most people do.   The only miles card I have is the MileagePlus Explorer so I only use miles for air travel.

 

You should be able to determine what's most effective.  It's going to depend on what you're specifically asking about as programs vary.


Well from what i know this is card is just basically an 1 dollar one mile with no bonuses. I am wondering if its not even worth using it to accrue miles. May as well go with SPG or CSP. I am an bit confused with travel cards in general looks like i will need to do more research 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 10 of 10
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