I have 1.5 million credit card points I’ve been amassing for 15 years. I think of them as my emergency fund. But at this point, should I cash them out?

[hegemony]

I have 1.5 million credit card points I’ve been amassing for 15 years. I think of them as my emergency fund. But at this point, should I cash them out?

 

 

stupid is as stupid does...

[PotO]

Yes, they should immediately cash out their points ...

... for psychiatric care.


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[CTSoxFan]

I have over 1M in Chase URs which I have been collecting/saving for the past 3-4 years.  That said, I do I have a plan for redemption next year towards 2 Int'l F tickets at a location to be determined, and to cover some/all of the hotel expenditures.  I did a similar thing in 2018 and took a 2 week vacation to Europe, with points paying for flights in F and 11/14 hotel nights.  I also used ~225k to purchase a biz class tickets to Europe this year.

 

I have not been hoarding for 15 years however and certainly don't consider them part of my emergency funds...once I have unloaded these points I will re-evaluate my spending patterns and rewards preferences.

Edited May 17 by CTSoxFan

[Flashman]

On 5/16/2022 at 5:07 PM, PotO said:

Yes, they should immediately cash out their points ...

... for psychiatric care.
 

 

Rather than viewing CC rewards as "money in the bank," perhaps they might more accurately view them as money lying on the sidewalk outside the bank, and act accordingly.