credit card "REWARDS"

[MadJack]

I have been hearing that some cards are taking the rewards away and they can because of the fine print.

anyway, my question is; should I cash in my AMEX rewards, I have around 250,000 and that would be a bitch to lose them :shrug:

marine, what you think? anybody else?

 

[Blitz]

http://www.smartmoney.com/spending/deals/Card-Issuers-Our-Rewards-Cards-Are-not-So-Rewarding/

 

[MadJack]

http://www.smartmoney.com/spending/deals/Card-Issuers-Our-Rewards-Cards-Are-not-So-Rewarding/

sounds like amex is cutting back but not stealing them back. i better get shopping and cash them in soon.

any other opinions?

 

[MadJack]

i've only used them for airfare before so don't kow what they're really worth but for airfares 250,000 points is equal to about $2500 in airfares.

maybe i should have big a traveling year :00hour

 

[yyz]

Easter is coming!

 

[hedgehog]

You should be able to buy things online from their partners or ask them to send you a book in the mail. I would get cash if it was me if I could or buy something with your miles. 2500 is a few trips to Vegas though

 

[Julene]

Jack, how do you get a quarter of a million points? Is that a point per dollar you've spent? Awesome. :mj07:

 

[The Judge]

imaybe i should have big a traveling year :00hour

Meet me in Panama the 2nd week in May?

 

[dawgball]

You can get American Express traveler's checks with those. You can do that or get a bunch of gift cards.

I'll send you my address.

 

[marine]

Jack, how do you get a quarter of a million points? Is that a point per dollar you've spent? Awesome. :mj07:

you use the card for your daily spending and pay the balance in full each month.

Example - even after using 300,000 points in the last year, I still have over 1 million Hilton Honors points.

 

[marine]

Cards from the big lenders are not going to take away the points/miles you have already earned.
If they did that, it would be suicide - because 'collecting points' has such a cult following and it is a huge moneymaker for those companies.

What they will do is devalue your points.

You've seen it in the past..
10,000 points gets you a $100 gift card somewhere.

now, it takes 13,000 points to get that same $100 gift card.

use them if you want, or keep saving up and transfer them to me. whatever works for ya.