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hegemony

This 34-year-old just hit over 10 million credit card points. Here’s how he does it

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To me, the article can be summed up with:

1) having the ability to spend tons of money

2) having rich friends who allow you to do their spending

3) having a business with a lot of expenses

 

 

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13 hours ago, pronto said:

To me, the article can be summed up with:

1) having the ability to spend tons of money

2) having rich friends who allow you to do their spending

3) having a business with a lot of expenses

Except that it does not take tons of money or having rich friends to accomplish a large points accumulation.  There are MANY routine expenses that can be placed on credit cards and a points whore will absolutely be able to maximize that routine spending.  Admittedly, I read some of those articles and think about points I have left on the table through the years, but there are still a lot of points sitting in various accounts...

 

You don't even need to have a business to rack up the points. 

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Points are a depreciating asset.  When is the last time you saw a points or miles program become more lucrative?  Now compare that to how many devaluations we have seen over the past 5-10 years.  Holding on to them past the point of where you can maximize the redemption makes no sense.  I would have bet he could've gotten at least 25% more value from those points had he been spending them more frequently rather than hording them.

 

Even without M$ it is easy to rack up points through everyday spending combined with a couple of good signup bonuses.  For example, I pretty much wiped out all my points/miles at the end of 2017 for my 2 week trip to Europe last year.  18 months later and I already have another ~400K URs (plus some cash back), and that is with almost no business related travel reimbursements (less than $1,000 total spend), etc. nor any signup bonuses, just maximizing my everyday spending as best possible.

 

 

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