Whatever reason you justify it to yourself with is the only one that matters. If you like it, keep doing it. Not everyone has the spending habits to justify getting many signup bonuses, and/or we dont all travel often enough that having a ton of potentially devalued miles makes sense.
Collecting the bonuses makes sense if its your thing and you travel often enough that you can use the miles before they inevitably lose value. To me, the cards make sense for a frequent traveler. At least once a month if not more. But judging by the number of people who go for the workarounds to redeem their miles/travel credits without actually traveling (ie gift cards), id say more people have these cards than probably really benefit from them in many cases. The number of people with many expensive travel cards who don't seem to travel very often is puzzling.
However, we all know the risks and pitfalls of collecting bonuses and have to make the choices we feel are best. At the end of the day, its your credit and your choices, and no one else has to agree with them.
Collecting the bonuses makes sense if its your thing and you travel often enough that you can use the miles before they inevitably lose value. To me, the cards make sense for a frequent traveler. At least once a month if not more. But judging by the number of people who go for the workarounds to redeem their miles/travel credits without actually traveling (ie gift cards), id say more people have these cards than probably really benefit from them in many cases. The number of people with many expensive travel cards who don't seem to travel very often is puzzling.
However, we all know the risks and pitfalls of collecting bonuses and have to make the choices we feel are best. At the end of the day, its your credit and your choices, and no one else has to agree with them.
@kdm31091 wrote:
Whatever reason you justify it to yourself with is the only one that matters. If you like it, keep doing it. Not everyone has the spending habits to justify getting many signup bonuses, and/or we dont all travel often enough that having a ton of potentially devalued miles makes sense.
Collecting the bonuses makes sense if its your thing and you travel often enough that you can use the miles before they inevitably lose value. To me, the cards make sense for a frequent traveler. At least once a month if not more. But judging by the number of people who go for the workarounds to redeem their miles/travel credits without actually traveling (ie gift cards), id say more people have these cards than probably really benefit from them in many cases. The number of people with many expensive travel cards who don't seem to travel very often is puzzling.
However, we all know the risks and pitfalls of collecting bonuses and have to make the choices we feel are best. At the end of the day, its your credit and your choices, and no one else has to agree with them.
A couple of things.
1. At this point in my life, I don't need any internal justification for anything I do. I will do what I do, regardless of what anyone in the world thinks.
2. Sure, everything boils down to a person's respective risk tolerance vs. reward. Whether a person agrees or objects is entirely irrelevant.
Maximizing a return, whether travel rewards or cash, is purely an objectively quatifiable endeavor, nothing more and nothing less. Whatever has a higher % return has the higher return--anything else is just...er...irrelevant meanderings.
@Open123 wrote:
@kdm31091 wrote:
Whatever reason you justify it to yourself with is the only one that matters. If you like it, keep doing it. Not everyone has the spending habits to justify getting many signup bonuses, and/or we dont all travel often enough that having a ton of potentially devalued miles makes sense.
Collecting the bonuses makes sense if its your thing and you travel often enough that you can use the miles before they inevitably lose value. To me, the cards make sense for a frequent traveler. At least once a month if not more. But judging by the number of people who go for the workarounds to redeem their miles/travel credits without actually traveling (ie gift cards), id say more people have these cards than probably really benefit from them in many cases. The number of people with many expensive travel cards who don't seem to travel very often is puzzling.
However, we all know the risks and pitfalls of collecting bonuses and have to make the choices we feel are best. At the end of the day, its your credit and your choices, and no one else has to agree with them.A couple of things.
1. At this point in my life, I don't need any internal justification for anything I do. I will do what I do, regardless of what anyone in the world thinks.
2. Sure, everything boils down to a person's respective risk tolerance vs. reward. Whether a person agrees or objects is entirely irrelevant.
Maximizing a return, whether travel rewards or cash, is purely an objectively quatifiable endeavor, nothing more and nothing less. Whatever has a higher % return has the higher return--anything else is just...er...irrelevant meanderings.
Agree.
At the end of the day, kdm doesn't pay my bills, knows anything about my lifestyle let alone influence any decision regarding my financial goals (or those of others I'm sure). So, I would say, who cares?
At any rate, thanks for posting this Open. I received an email on this yesterday along with a Citi AA PS WMC Business Card pre-qualification. Instead, I opted for the personal AA PS WMC since the 50K sign up bonus was available for both and was approved. I already have a Citi AA AmEx from years ago and will likely combine CLs. I do travel to Europe frequently and considered the new 2016 program highlights given the sector redemption changes. Again, my decision and I'm glad you provided some good perspective on this.