I'm sure most of you guys here have an Amex card and those rewards points can pile up quick when you're running some volume. Just wondering if anyone had the rundown if it's more efficient to buy shit (TVs, toasters) or get plane tickets/hotels with em. Trying to travel to Thailand this summer and not sure if it would be more efficient to just spend cash or use my points. Any ideas?
Amex Points vs. Cash?
- Thread starter supplyshock
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i'm a starwoods member .. i rack up those starpoint like water ... i just had convos w/ some co workers about mariott rewards vs startpoints...
honestly, i think starwoods vs cash is pretty close, whether you get a $150 amazon gift card or a plane ticket, i think the points to dollar ration is pretty close for startpoints.. as for mariott i think the rooms are better..
just realized this, but if you are not talking about starpoints and just amex rewards like w/ the gold card ... i have no idea, haven't used mine yet
honestly, i think starwoods vs cash is pretty close, whether you get a $150 amazon gift card or a plane ticket, i think the points to dollar ration is pretty close for startpoints.. as for mariott i think the rooms are better..
just realized this, but if you are not talking about starpoints and just amex rewards like w/ the gold card ... i have no idea, haven't used mine yet
You are really asking a lifestyle question. When you have a virtually unlimited supply of starpoints, you start traveling a lot more, getting hotels downtown when you're wasted, and clocking up airline platinum miles. I've seen a lot of people get addicted to that lifestyle, and let their business tank.
On the other hand, it's pretty easy to get 1-1.5% cash back, which increases the profitability of all of your campaigns by 1%. You generally worry more about business/pleasure trips as you are directly paying for them. This might have a negative affect on your business relationships.
Gift cards and shit like that, don't make an ounce of sense. If you're buying a new appliance for your house once a month, you're an idiot, and you should take your credit card away from your SO.
On the other hand, it's pretty easy to get 1-1.5% cash back, which increases the profitability of all of your campaigns by 1%. You generally worry more about business/pleasure trips as you are directly paying for them. This might have a negative affect on your business relationships.
Gift cards and shit like that, don't make an ounce of sense. If you're buying a new appliance for your house once a month, you're an idiot, and you should take your credit card away from your SO.
You ever run significant volume when most banks won't give you more than 5k limits because you're 22 years old? I've just received my first business credit card with a measely 10k limit despite having a business grossing 7 figures a year, and even that essentially took significant amount of complaining if not begging, and then threatening to switch banks of BofA didn't hook it up. I've got a ton of points all over the place because I had to start out getting any credit card that would take me. Surprise surprise I also have a shit ton of Amex points and am wondering the same thing about whether they are efficient to use on travel rather than appliances rather than hotels.
Messed up to make judgements about someone just based on their types of points innit?
Get a mortgage, pay 3/4 of it off. Banks suddenly start treating you a lot different.
Being wasteful with your money, is a pretty good indicator of how you do business. Points aren't any different.
In Australia there are virtually no cashback credit cards. I have one which gives me 1% back on the first $1000 I spend, which is basically like a free $10 every month... except it has a $48 annual fee so I only make $60/year on it.
So I use my Frequent Flyer points Amex/MC combo for everything.
So I use my Frequent Flyer points Amex/MC combo for everything.
Got better things to do.
Like you've never bought a toaster or a TV. You must be one of those "millionaires next door" people.
LOL although I have never bought a toaster, I'm far from the "millionaire next door types". A house for a guy, doesn't need much more than a couch, bed, tv, stove/oven, plates, utensils, washer/drier, clothes, laptop, and wireless router. I think the only kitchen appliance I've had break on me in the last five years, would be a blender, and the only other device that has recently broken, was my laptop, after three years.
I am not a woman, I do not have any desire to buy useless appliances, or replace old ones, just because I can. I also have no desire to decorate my place with expensive trash.
My money is better spent on vodka, sluts, motorcycles, and making more money.
[ame=http://www.youtube.com/watch?v=rOx9uQ4cuJk]YouTube - Fight Club (1999) - Podziemy Kr[/ame]
There are heaps of cards that give cashback rewards in Australia. I use an anz rewards card, every $1 spend is 1 point for my visa card and 1.5 for my american express card. It ends up being about 0.5%-0.75% cashback from memory.
You can also get USD american express cards if you live in aus and the cashback on those is 1%-1.5% from memory.
I also got like 4k free points when I signed up for an additional card with my anz rewards, you can always get them to waive the fee (in my experience anyway).
I know that the commonwealth bank and stuff offer something similar - but I do all my banking with ANZ and it's much easier having it in the one spot.
To the OP:
I only ever get travel and accommodation via rewards points. It's a reward for the risk that I take running a business. Depends on your thought processes, I am in a financial position to buy most possessions that I need but don't really have the time to take a lot of holidays, so when my frequent flyer points get to a certain level, I know I'm due for a holiday.
I only ever get travel and accommodation via rewards points. It's a reward for the risk that I take running a business. Depends on your thought processes, I am in a financial position to buy most possessions that I need but don't really have the time to take a lot of holidays, so when my frequent flyer points get to a certain level, I know I'm due for a holiday.
They rebranded the anz card, it's here - ANZ - Improved ANZ Rewards account
And amex euro and dollar accounts are found here: American Express Dollar Card
Both should have the cashback I talked about - I don't run much paid traffic anymore so I only have the anz rewards card now and not the amex dollar account.
That's essentially nothing though. I have a card in Canada that gives me 3% cash back on the first 3k then 1.5% after (something like that, I barely use it now so can't remember). Australian banks are horrid at pretending to give out good deals, the only points worth getting on any australian cards are FF points.
Don't get a card that has annual fees and try to get cash back, that is usually the best deal. Now-a-days you really have to be careful about all the fees the Banks try to whack you with. I had a Citibank card that would hit me with a 3% charge for every International transaction that I had. I buy Cigars (the ones that are embargoed in the US) online from Europe and Citibank would hit me for 3% each time, it really added up quickly.
I have a Capital One card that doesn't have international transaction fees, I get 1% cash back monthly for each transaction (sometimes more) and put it towards my monthly balance.
When it comes to Credit Cards the way that you will make the most money is by paying off your balance in full and on-time each month.
I have a Capital One card that doesn't have international transaction fees, I get 1% cash back monthly for each transaction (sometimes more) and put it towards my monthly balance.
When it comes to Credit Cards the way that you will make the most money is by paying off your balance in full and on-time each month.
Move back to Canada then or just use that card?
The two cards I just showed you are infinitely better than the crappy card you are currently using where you are making $60 per year from your points.
Australian banks aren't horrid at giving out good deals, 3% cashback is ridiculous. The only reason amex can afford to give 3% cashback is because they charge anybody who accepts amex 4%, that's why nobody in their right mind should accept amex. Everybody who has an amex also has a visa card but they just try to use their amex so they can get more cashback.
FF points are much worse than both of the deals I showed you, especially the amex dollar/euro card.
from someone with alot of amex points use them only for travel, transfer them to ba or virgin or delta etc. for 90k points I can get a round trip first class lay flat bed ticket to heathrow on virgin plus the 800 tax fee, so for 800 bucks first class ticket round trip to europe that would cost about 5200 cash before taxes 6200 with tax.
I just redeem all points for cash. You're almost always taking a loss if do anything else. 1% cash back and tax free is sick nasty.
Sounds insanely familiar, I've been through it with BoA. Like Insomniac said, once you buy a house suddenly shit turns around, got a 500% limit increase almost immediately. Doesn't make an ounce of sense to me, you increase your debt to income ratio and they want to extend even more credit.
Sounds insanely familiar, I've been through it with BoA. Like Insomniac said, once you buy a house suddenly shit turns around, got a 500% limit increase almost immediately. Doesn't make an ounce of sense to me, you increase your debt to income ratio and they want to extend even more credit.