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[Most] credit card bloggers like The Points Guy are shills, don't listen to them. They make their money from affiliate marketing so they'll pimp the cards that

by Sleeep 9y ago

[Most] credit card bloggers like The Points Guy are shills, don't listen to them. They make their money from affiliate marketing so they'll pimp the cards that make them the most (like Chase cards) and ignore deals that are good for you but bad for them. The Points Guy's website is owned by Bankrate. Here's him getting called out on Reddit for some practices: https://www.reddit.com/r/IAmA/comments/471yey/im_the_points_guy_aka_brian_kelly_ama/ https://www.reddit.com/r/IAmA/comments/471yey/im_the_points_... The Points Guy and other credit card bloggers are like the people who hold "I Will Teach You To Get Rich" seminars at the Holiday Inn. He never answered when asked how much his salary he makes from his blog is but it's reported to be 7 figures. This is not the golden age, it's pretty mainstream. Card issues are cracking down on gamers. AMEX just started putting terms about gaming in their application. Citi merged limits on sign up bonuses across their cards. Chase doesn't even approve you if you've opened too many credit cards in the last 24 months (5) and has long called out gaming as against their T&C. Even if you get a million miles it's a chore to redeem them for something worthwhile. You also have to worry about keeping them from expiring. I still collect points and miles but don't kid yourself that it's not a commitment. Most people who are serious in the miles/points game go out buying gift cards and then using ever closing loopholes to liquidate the gift cards. It's just crazy some of the time, money, and effort people put into it. Might as well get a part time job at that point. Personally, in two years, between credit cards and bank accounts I've gotten $6,000 in realized worth (that is redeemed) and at least as much in unrealized worth. I've got my first rejection a few weeks ago. This is a credit card blog that is independent, the only blog I look at: https://www.doctorofcredit.com https://www.doctorofcredit.com

bonesinger 9y ago
I don't know if your assessment of that is accurate. I opened 2 cards last year, the AMEX Platinum and Chase Sapphire Reserve deal. I got 100k points for each card. I had some existing points and then some extra spending and I was able to get 2 business class tickets to Japan ($18k value) and 15 nights in 5 and 6 star Hyatt hotels. That was probably another $8k in value. I spent 170k AMEX points on the flights and 155k Chase points on the hotels. That trip was amazing and it was only possible because of the points. Was it a lot of work? Not really. I just put all my spending on my AMEX for a few months. Then I switched to the Chase Sapphire for a months. Once I got all the points I needed, I just transferred the the Amex points to ANA and the Chase points to Hyatt. I then booked my flights and hotels. Booking flights was slightly harder as my fiance and I weren't married so we had to transfer points to separate accounts, but it definitely wasn't a chore at all. A simple phone call to AMEX took care of that. Booking rooms with Hyatt and using points was a breeze. There are other benefits of having high end cards too. I got Global Entry for my fiance and I ($200 value). We didn't have to go through customs on the way back to USA. I got $300 travel credit from CSR card per year. $200 airline credit from AMEX Plat. I was able to get orchestra tickets to Hamilton in NYC for $399 through AMEX plat. If I had a million points, I could book 3-4 dream vacations. Not sure what went wrong with your redemptions.
- charlesdm 9y ago
  Isn't the Amex platinum $550 a year though? Still a good deal, but not entirely free either?
  - bonesinger 9y ago
    When I got it was $450, they recently raised the prices. Even if you run the calculations, its still worth it. $550 a year fee $200 airline credit $200 Uber credit $20 Global Entry credit per year (Prorated. Global entry costs $100 per 5 years and AMEX will cover the cost). Gold status with SPG and Hilton Lounge access at many airports Free subscription to GoGo for in flight internet (domestic) And lastly, AMEX Platinum Concierge is still the best service for any card. 5x points on airline purchases. Chase Sapphire has even better value. $450 fee $300 credit per year (When I got this card, I was able to redeem the credit twice due to the timing and how Chase calculates the year.) ALso Chase's credit is far more useful since "travel" is loosely defined for them. Lounge access $20 Global Entry Credit per year (used this one for fiance) Travel insurance No Foreign Transaction fees 3x points on dining and 3x on travel.
    - provost 9y ago
      The AMEX redemptions are some of the worst, and they are losing partners. They also didn't auto-reimburse me for the airline credit when I followed all their instructions. They also didn't reimburse me for Uber credit -- apparently it doesn't work when the trips are in other countries (only the US), which is a really lame for a "travel" card.
      - bonesinger 9y ago
        For ANA its pretty sweet. 85k round trip on business to Asia. But, in general I agree I think they are on the down fall and they need to come up with some new things to remain competitive. The hotel status are the only reason I have them because I have been traveling a lot lately and its worth it. I may end up cancelling it in the future.
- 9y ago
kenneth 9y ago
The Points Guy is fine in that it'll teach most people the basics. It's not perfect advice, and they (Kelly, and Bankrate) make a killing on it… but it's good enough. For most people, the alternative is using a debit card or redeeming their miles for a new toaster. Following TPG's advice is already a massive improvement. In the past year, I've flown >100 times, 200k "butt-in-seat" miles, all long-haul in first or business class, spent 150+ nights in luxury hotels. I've flown around the US in private jets. I have millions of points and miles. I don't dare imagine what the retail cost would've been—but I pay a tiny tiny fraction of the price. Travel in that style is a hobby and I go out of my way to fly new airlines (I've tried long-haul first class on almost every reputable airline) and visit new places (40 countries and counting). Getting really good at this, however, is a ton of work. It's a time-consuming hobby. I have spreadsheets, scripts, crawlers, and private groups to trade info, miles, and favors. I'm constantly on the lookout for new deals and loopholes; and I know the ins-and-outs of airlines' and hotels' policies. I've put in my 10,000h. The point is that sure; for me, TPG seems like child's play. A lot of the information is a bit inaccurate, and they're not entirely unbiased. But most people don't have the willingness or interest to put in the work required to be really successful at this hobby. For that majority of people, following TPG's advice will let them experience a taste of this lifestyle. It might be enough to take their fiancé on a first class luxury honeymoon to Japan. In my opinion, that's pretty cool…
- patrickg_zill 9y ago
  Have you considered monetizing your knowledge? I would pay maybe $100/hour for some advice on how to adapt my current lifestyle and credit card usage to gain more miles/benefits.
  - kenneth 9y ago
    I help my friends a lot and I'm always happy to chat it through with anyone. That said, no, I haven't looked into turning this into something more, for two reasons: 1) The nature of the game is that the more people play it, the less value it provides. A lot of my success in this is due to obscure opportunities that die as soon as they get too publicized. 2) Turning this from a hobby to a job would take the fun out of it.
Hnrobert42 9y ago
The article acknowledges both the affiliate marketing and bankrate ownership. Do you have evidence that his reporting is influenced 8n a way that serves him but not his readers? Not really fair to call him a shill otherwise. As for your assessment of the utility of collecting points, I agree. I have ADHD. I will miss a payment or something that will blow the whole mess apart. Not worth it to me, but good for those who can make it work.

by Sleeep 9y ago

bonesinger 9y ago

I don't know if your assessment of that is accurate. I opened 2 cards last year, the AMEX Platinum and Chase Sapphire Reserve deal. I got 100k points for each card. I had some existing points and then some extra spending and I was able to get 2 business class tickets to Japan ($18k value) and 15 nights in 5 and 6 star Hyatt hotels. That was probably another $8k in value. I spent 170k AMEX points on the flights and 155k Chase points on the hotels. That trip was amazing and it was only possible because of the points. Was it a lot of work? Not really. I just put all my spending on my AMEX for a few months. Then I switched to the Chase Sapphire for a months. Once I got all the points I needed, I just transferred the the Amex points to ANA and the Chase points to Hyatt. I then booked my flights and hotels. Booking flights was slightly harder as my fiance and I weren't married so we had to transfer points to separate accounts, but it definitely wasn't a chore at all. A simple phone call to AMEX took care of that. Booking rooms with Hyatt and using points was a breeze. There are other benefits of having high end cards too. I got Global Entry for my fiance and I ($200 value). We didn't have to go through customs on the way back to USA. I got $300 travel credit from CSR card per year. $200 airline credit from AMEX Plat. I was able to get orchestra tickets to Hamilton in NYC for $399 through AMEX plat. If I had a million points, I could book 3-4 dream vacations. Not sure what went wrong with your redemptions.

charlesdm 9y ago
Isn't the Amex platinum $550 a year though? Still a good deal, but not entirely free either?
- bonesinger 9y ago
  When I got it was $450, they recently raised the prices. Even if you run the calculations, its still worth it. $550 a year fee $200 airline credit $200 Uber credit $20 Global Entry credit per year (Prorated. Global entry costs $100 per 5 years and AMEX will cover the cost). Gold status with SPG and Hilton Lounge access at many airports Free subscription to GoGo for in flight internet (domestic) And lastly, AMEX Platinum Concierge is still the best service for any card. 5x points on airline purchases. Chase Sapphire has even better value. $450 fee $300 credit per year (When I got this card, I was able to redeem the credit twice due to the timing and how Chase calculates the year.) ALso Chase's credit is far more useful since "travel" is loosely defined for them. Lounge access $20 Global Entry Credit per year (used this one for fiance) Travel insurance No Foreign Transaction fees 3x points on dining and 3x on travel.
  - provost 9y ago
    The AMEX redemptions are some of the worst, and they are losing partners. They also didn't auto-reimburse me for the airline credit when I followed all their instructions. They also didn't reimburse me for Uber credit -- apparently it doesn't work when the trips are in other countries (only the US), which is a really lame for a "travel" card.
    - bonesinger 9y ago
      For ANA its pretty sweet. 85k round trip on business to Asia. But, in general I agree I think they are on the down fall and they need to come up with some new things to remain competitive. The hotel status are the only reason I have them because I have been traveling a lot lately and its worth it. I may end up cancelling it in the future.
9y ago

kenneth 9y ago

The Points Guy is fine in that it'll teach most people the basics. It's not perfect advice, and they (Kelly, and Bankrate) make a killing on it… but it's good enough. For most people, the alternative is using a debit card or redeeming their miles for a new toaster. Following TPG's advice is already a massive improvement. In the past year, I've flown >100 times, 200k "butt-in-seat" miles, all long-haul in first or business class, spent 150+ nights in luxury hotels. I've flown around the US in private jets. I have millions of points and miles. I don't dare imagine what the retail cost would've been—but I pay a tiny tiny fraction of the price. Travel in that style is a hobby and I go out of my way to fly new airlines (I've tried long-haul first class on almost every reputable airline) and visit new places (40 countries and counting). Getting really good at this, however, is a ton of work. It's a time-consuming hobby. I have spreadsheets, scripts, crawlers, and private groups to trade info, miles, and favors. I'm constantly on the lookout for new deals and loopholes; and I know the ins-and-outs of airlines' and hotels' policies. I've put in my 10,000h. The point is that sure; for me, TPG seems like child's play. A lot of the information is a bit inaccurate, and they're not entirely unbiased. But most people don't have the willingness or interest to put in the work required to be really successful at this hobby. For that majority of people, following TPG's advice will let them experience a taste of this lifestyle. It might be enough to take their fiancé on a first class luxury honeymoon to Japan. In my opinion, that's pretty cool…

patrickg_zill 9y ago
Have you considered monetizing your knowledge? I would pay maybe $100/hour for some advice on how to adapt my current lifestyle and credit card usage to gain more miles/benefits.
- kenneth 9y ago
  I help my friends a lot and I'm always happy to chat it through with anyone. That said, no, I haven't looked into turning this into something more, for two reasons: 1) The nature of the game is that the more people play it, the less value it provides. A lot of my success in this is due to obscure opportunities that die as soon as they get too publicized. 2) Turning this from a hobby to a job would take the fun out of it.

Hnrobert42 9y ago

The article acknowledges both the affiliate marketing and bankrate ownership. Do you have evidence that his reporting is influenced 8n a way that serves him but not his readers? Not really fair to call him a shill otherwise. As for your assessment of the utility of collecting points, I agree. I have ADHD. I will miss a payment or something that will blow the whole mess apart. Not worth it to me, but good for those who can make it work.