Comments on: Spend Your Credit Card Points ASAP

By: BrewCrewFan

BrewCrewFan — Wed, 04 Mar 2009 17:43:45 +0000

I’ve heard on the PF forum on the Wall Street Journal that Chase has confiscated cash rewards of BP Visa users if Chase suspected (but not confirmed) that the cardholder was using the card for commercial use. Some people lost close to $1,000 in banked rewards.

http://www.filife.com/reviews/chase-bp-visa-credit-card

I have always redeemed my rewards as soon as I hit the minimum threashold ($25)

By: Student Scrooge

Student Scrooge — Sun, 22 Feb 2009 07:11:37 +0000

It is disheartening that it has become apparent that you can’t rely on credit card companies to necessarily maintain their programs at a certain level long enough for you to accumulate points for top rewards. Its not fun to save points for months and years and find that you can’t really get anything when you finally amass enough of them.

In my own case, I am particularly sad about the death of the Fixed Flight option with the Citi ThankYou network — if travel is your thing, that provided unparalleled value. The ThankYou network will be a lot less attractive after March 1.

By: fathersez

fathersez — Tue, 03 Feb 2009 08:20:56 +0000

I have always had a points card. The points have built up quite a lot. Last December my wife and I went to see what we could redeem. It was quite a pittance.

A friend has advised me to just transfer the points to my FF program.

Still it looks worthwhile to explore a cash back card now.

By: Eric N.

Eric N. — Fri, 30 Jan 2009 06:22:34 +0000

They’re all the same. Jim is referring to the fixed flight redemption rather than the variable redemption that you probably did through Expedia.

This really, really sucks though since I’m close to 20,000 TY points but I don’t think I’ll make it before March. I guess I have to settle for those $100 gift cards.

By: MoneyNing

MoneyNing — Thu, 29 Jan 2009 18:35:34 +0000

Hmm. I’ve had to use a $100 to 1 point system for my thank you network for ages since I had to book through expedia within the system and I can cross check the actual price.

Maybe different cards have different programs even if they all use the thank you network?

By: Start-Up

Start-Up — Thu, 29 Jan 2009 17:50:29 +0000

I agree with cash rewards cards, because they can’t take your cash away once you’ve earned it. I’m going to have to monitor my capital one rewards card to see if they plan on making any changes. If I don’t average one free trip to boston a year, the card isn’t worth using anymore. I will keep it alive for credit score reasons though as it’s my longest active card.

By: Patrick

Patrick — Thu, 29 Jan 2009 13:40:55 +0000

I have a Chase card too and I’m with Lazy Man that I’m glad they aren’t affecting the rewards I am earning. It looks like they are only reducing the rewards for new customers.

I just don’t get the point of getting a points rewards over a cash rewards. The cash rewards always seem better and you can always buy the same item with the cash.

By: dre007

dre007 — Thu, 29 Jan 2009 01:17:46 +0000

i was wondering why did the government send out stimulas checks then at the end of the year when filing taxes you have to repay the entire amount. what is the purpose of the sitmulas check to put us in further debt. what if i didnt want an stimulas check this year what would i have to do.

By: Lazy Man and Money

Lazy Man and Money — Wed, 28 Jan 2009 23:53:30 +0000

I’m happy that it doesn’t seem to affect the Chase card that I’ve had for some time (pre-dates the Freedom card). It still earns me 5% on groceries, gas, and drugstores. It will be a sad day if/when that goes away.

By: Flexo

Flexo — Wed, 28 Jan 2009 23:17:07 +0000

The era of taking advantage of credit cards for their rewards is coming to an end… at least until the economy’s better, banks are thriving, and competition for new customers, particularly those who fall into credit traps, is fierce.