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Why Travel Hacking Isn’t “Stupid Credit Card Tricks” for Poor People

Why Travel Hacking Isn’t “Stupid Credit Card Tricks” for Poor People
Ariana Arghandewal

The other day, I came across a tweet by Dave Ramsey, self-professed “America’s trusted voice on money.” I don’t know about you all, but this is the first time I’ve heard of him. Anyway, he tweeted something about miles and credit cards that’s pretty typical of those who haven’t mastered the art of travel hacking:



“I never met a millionaire who said, ‘I made all my money with airline miles.’”

My first reaction was, “What a random thought.” Perhaps he’d watched an episode of Adam Ruins airline miles and felt the need to share his thoughts on the theory that frequent flier miles are a scam. Motive aside, Dave Ramsey has clearly never heard of The Points Guy, Million Mile Secrets, or the dozen other blogs that not only rake in over seven figures in affiliate revenue, but employ dozens of writers, editors, videographers, and social media coordinators, to name a few. So to rebuff Dave Ramsey’s assertion:

Credit card millionaires are like aliens. You may not have met one before, but that doesn’t mean they don’t exist. 😉

Take me for example. I’m not going to be on the cover of Forbes any time soon, but for several years I used manufactured spending to not only earn tons of frequent flier miles, but cash back too. I was able to earn tens of thousands of dollars through a 5% cash back hack, among other methods, to not only pay off my student loans but also create a rainy day fund. So no, I have not “made all my money with airline miles” (whatever that means), but I have made money earning them,


“Rich people don’t fall for stupid credit card tricks”

I’m not sure what a “stupid credit card trick” is. Is it using a large sign-up bonus to book thousands of dollars worth of premium travel? Somehow I doubt that, but it was definitely the most baffling part of that tweet and one I’d like more context for. It simply doesn’t make sense.

Credit cards are pretty straightforward: If you don’t pay them off on time, you incur massive interest charges. Is that supposed to be the “trick” part? And is that why “rich people” are willing to pay a $7500 credit card “initiation fee”? I get it, the wealthy generally have their financial house in order and we can learn a thing or two from them. But to assert that they don’t use credit cards, or that they’re always  doing so responsibly is absurd. And if Ramsey isn’t referring to credit card use, then I’d really like to know what “tricks” he’s referring to that the rest of us are falling for.

This isn’t to say credit cards aren’t harmful. Millions of people are in debt because of irresponsible use. But that goes for everything: Millions of Americans are sick and overweight because of poor food choices. And let’s face it, there are plenty of tricks in the food industry causing this health epidemic. But I digress.

My point is, Ramsey’s tweet was vague and baseless. Airline miles and credit cards aren’t “tricks” or “stupid”. Nor are they exclusively used by “poor” people who don’t have their financial house in order. Like anything, they can be abused and wasted by irresponsible people. But to write them off completely is absurd.
What are your thoughts on Dave Ramsey’s tweet?


[Image: Picserver]


View Comments (45)


  1. strickerj

    January 8, 2019 at 1:23 pm

    Dave Ramsey has some good advise on living within your means, but I’ve more or less written him off since he takes a completely irrational stance on credit – it simply isn’t reasonable to expect to never have any debt. (Could most of us not have a car? Does it make sense to rent your home until you can afford to buy?)

    His take on credit cards is the same way – basically that no one should ever have them lest you be tempted to overspend and rack up debt, nevermind the points or cash back you’d miss out on.

  2. Sweet Willie

    Sweet Willie

    January 8, 2019 at 1:37 pm

    @strickerj or anyone else, is there a “religious” component to Dave Ramsey at all? I ask as my nephew is totally smitten with Ramsey. My nephew goes so far as to say he doesn’t need to worry about his credit as Dave has pointed out insurance companies that don’t pull consumer credit and nephew also believes he’ll just never need credit, not even to buy a home or start a business.

  3. Bluesman62

    January 8, 2019 at 2:25 pm

    Sweet Willie, Dave does incorporate a strong religious theme throughout his financial philosophy, and includes the need to tithe as a standard home-budget line item. In addition, his seminars and related merchandise are very frequently offered through or promoted by churches and church groups. My wife got me to attend a Ramsey series at her church years ago, and every meeting opened and closed with group prayers that included Dave’s “financial peace”. Not that there’s anything wrong with any of that, but IMO the Ramsey method leverages the supposed honesty and sincerity of religious trappings to promote his philosophy…and sell his books, DVD, etc.

  4. Xnuiem

    January 8, 2019 at 2:59 pm

    I could not get behind Dave on a lot of things. His draconian stance on paying off a mortgage, anyone, even if it was at 2.5% was just silly. That extra money, at even a very modest return would be worth a lot more at the end of the day.

    I understand the tactic. People aren’t good at discipline, so might as well do what is straight forward and presents the lowest level of risk. Ok. But not having any credit means you will pay a lot more for things. I couldn’t even get a job in my line of work without good credit. It is not the one size fits all that Dave preaches.

  5. dabears

    January 9, 2019 at 7:36 am

    Never met a millionaire who said ” I’ve made all my money thanks to Dave Ramsey”

  6. sdsearch

    January 9, 2019 at 9:57 am

    Maybe they should talk to mileage millionaires (people who have over a million miles) rather than ordinary millionaires (people who have over a million in dollars or whatever), if they want to find someone who’s earned it all through airline miles! 🙂 🙂 🙂

  7. top987

    January 9, 2019 at 11:02 am

    Dave Ramsey’s target audience is exactly the people who are bad at credit. That’s who is preaching to. The gullible who think that you actually get a free flight just for signing up for the credit card the FA is hawking on your once every year or so cross-country flight. He isn’t talking to the mileage runner, or someone who is going to sign-up for, get the bonus and then cancel before the renewal mileage queen. So his message IS right on the mark for his intended audience. If you aren’t in that audience you can feel free to ignore him.

  8. ExplorerWannabe


    January 9, 2019 at 11:09 am

    Just because you’ve never heard of Dave Ramsey before this doesn’t discount his advice or statements. If anything, it discounts yours.

    I understand his statement to say that millionaires concentrate on making real money, not playing around with credit card “bonuses”. He certainly doesn’t mean or say that millionaires don’t use credit cards at all. What he does is discourage the profligate reliance on credit. Bear in mind, his target audience are people who have gotten themselves into financial holes so almost by definition lack the discipline to pay off credit cards in full every month and with credit cards, a bill deferred is a future expense incurred.

    I have a million award miles on United and I earned them by flying, not playing around with switching credit cards or applying for new cards every other year. For that matter, I’ll take cash back on other credit cards over award miles on an airline credit card every time which are the “tricks” advocated by credit card hackers.


    January 9, 2019 at 11:12 am

    I’d love to see you on the front page of Forbes! Let’s make it happen!

  10. texastravelguy

    January 9, 2019 at 11:12 am

    Get a grip guys – As of the end of 2016, the estimated average debt per person was $5,331 for those who own at least one credit card
    About 42% of households are able to pay their credit card balance in full each month according to a Federal Reserve report.
    The remaining 58% carry a balance. Of those who carry a balance, about 40% say they always pay more than the minimum. But half say that they only make the minimum payment some or all the time.
    Now THAT is a stupid credit card trick. Do you think that Visa, Master Card, Amex and Capital One profit from those that pay off their bills in 30 days?
    You clearly travel with a very select crowd. Or maybe because he is a Christian you want to criticize him.
    Reality is much uglier than what you would like to admit

  11. Car Jack

    January 9, 2019 at 11:14 am

    Dave comes from being stupid broke and clawing his way out of that state. That’s where his head is at and he feels that ONLY what worked for him can work for anyone. He didn’t understand how to use credit cards, “so how could anyone else possibly use them without financially bankrupting themselves?”. Well, for those of us who properly use our zero annual fee, reward credit cards, paid in full before they’re due, we take advantage of the stupid credit card company tricks. And those of us who are organized can take a couple dozen cards and not only get the rewards % for every purchase, but can manufacture spend, combine hacks to get nearly free gas, get low balance forgiveness and sell tradelines. No……I didn’t become a millionaire through through credit card stupid tricks……although I’m a millionaire twice over. I simply add $10k or so a year with low effort stupid card tricks. And I keep my eyes open so that whenever the next Redbird/Mint $1 coins/US Savings Bonds with credit card online for no fee and no shipping comes along….I’ll get on it.

    Listen to Dave if you can’t figure out whether you should lease a new BMW when you make $20k a year and have $70k in debt, a pregnant, non-working wife and an eviction notice in your hand. For flyertalk members…..he’s entertaining on how people without a clue actually think.

  12. x1achilles


    January 9, 2019 at 11:14 am

    I gave up the credit card trickery. They make it so difficult that only a small percentage of people will actually gain. It is likely similar odds to a casino. Of course, it is up to the user to properly manage the cards as opposed to luck. But I have a career and simply don’t have the time to “manage” another business so I can sit in an overcrowded lounge between flights.
    But the hipster male model on the lead photo is gorgeous!

  13. RGasaway

    January 9, 2019 at 11:18 am

    I realize I am not in a friendly audience and will probably be attacked for saying this. But 10 years ago I started following the principles that Dave Ramsey teaches… and it helped make me a millionaire (multi now). I paid off my credit cards, paid off my car loans, paid off my consumer debt and paid off my mortgage.

    Dave’s philosophy is just ONE of many. But living debt-free IS possible. If you listen to his podcast you’ll hear people call in every day saying they’re debt free thanks, in part, to Dave’s teachings. I made that call to him years ago.

    Now, my kids are all debt-free (except mortgage, which is ok on the Ramsey plan). Yes, they actually bought houses with a ZERO credit score (and not co-signer). It is possible.

    Disclaimer: Individual results (and options) may vary.

    That is all. Thanks for the opportunity to contribute to the discussion.

  14. Settle2000

    January 9, 2019 at 11:41 am

    I seem to have read here some time ago how it was unethical to take advantage of the credit card offers when you don”t intend to keep the card. I guess this is the flip side. Well, I have two friends who are real millionaires and both churn credit cards to the max. As do I. Churning credit card sign up bonuses – yes it is free money and a lot of it – is very different than running up large credit card bills and not paying it off. And cash bonuses – chicken feed unless you never fly. A typical sign up bonus is 50000 enough for a business class ticket to Europe – that is a $4-6000 ticket. And typically requires making $3000 in purchases that in our case and our friends they will do anyway. Not paying off credit cards each month is not a good financial plan. Taking advantage of the credit card companies offers of thousands of dollars in free travel is a good financial plan. My wife and I and our friends never fly coach and never pay for our tickets. That is a good financial plan. But everyone needs to seek their own level of financial comfort.

  15. Danwriter

    January 9, 2019 at 11:42 am

    Ramsey approaches debt the way AA approaches alcohol: a lot of people are incapable of handling either. That’s his base audience. Not surprisingly, many of them are also churchgoers, seeking help from “higher” sources for problems they cannot solve themselves.

  16. oh912flyer

    January 9, 2019 at 11:50 am

    So you take one tweet, which you have no context for, and dis the guy?
    Dave Ramsey also has another phrase: 90% of finance is behavioral.

    As to other points (incl. comments):
    Yes, you can own a car without a loan or a lease.
    Yes, you rack up airline miles and get free vacations (where you spend more money than you have).
    It is a proven fact that the average credit card user spends in the region of 30% more than a cash user: yes, there are exceptions. But there is a reason fast food restaurants started to take credit cards, and it wasn’t for your convenience.
    Yes, you can live without a credit score; you just can’t do business with “Big Banks’… (and please, don’t tell me that’s a bad thing!)

    Ultimately tho, Dave is focused on a single methodology because it works. Trying to be “smart” with finances is what gets most people into trouble. (Remember that 90% rule?)
    As another of his sayings goes: Play with sharks; expect to get bit.

  17. farwest101

    January 9, 2019 at 11:52 am

    For most people, reward credit cards are a scam. How many people have been lured into irresponsibly using credit cards to earn “free” travel? How many schmucks click thru links from scumbag bloggers like TPG, MMS etc etc? Don’t underestimate the stupidity of the Average Joe.

  18. tworth

    January 9, 2019 at 11:54 am

    What’s more troubling to me than Ramsey’s opinions about credit cards is someone who’s never heard of him offering counsel. He’s a pretty household name. A writer who admits she has never heard of him is only damaging her credibility.

  19. CCB01

    January 9, 2019 at 12:02 pm

    I say let Dave Ramsey do what he does and we do what we do. If he doesn’t believe in “credit card tricks” so be it.

  20. KRSW

    January 9, 2019 at 12:14 pm

    Dave’s audience is much different than FlyerTalk. And, for his audience, I agree with him. His audience consists of people who are in over their heads in debt and usually got there all by themselves (ie: no extenuating circumstances). For this group of people, getting away from living on credit is a good move.

    I also will agree with Dave that many millionaires don’t play the credit card game. They might have a bank card or possibly an Amex Plat, but they’re not scouring the ‘net looking for mistake fares and maximizing points redemption. My old man is a great example. The only credit card he uses is the one issued by his local bank. Easily on the road ~50-70 nights/year. One time he almost redeemed his bank CC points for a pair of Bose headphones. For 1/3rd the redemption, I was able to get an Amazon GC and buy them on there instead.

    For those on FlyerTalk, it is a different world. Although, some of the rules still apply here — if you pay interest and (some) fees on a credit card, you’re losing the game. At the end of the day, are you making a profit? If the answer isn’t an easy Yes!, then it’s time to reevaluate your strategy.

    For people willing to put the time & effort into it, yes, it’s definitely worthwhile. For those who don’t, cards like Citi’s DoubleCash are probably the best bet.

  21. DWMPA

    January 9, 2019 at 12:24 pm

    My “credit card tricks” have resulted in dozens of free nights in hotels during the last 10 years, one free airline trip to Europe, two more trips to Europe planned this year, one of which will be around trip in business class and one of which will be one way in business class and one win coach. My credit card tracks have also allowed me to pay for hotel accommodations for one of my sons honeymoons. And I still have 1 million airline miles and over a half a million hotel miles. I actually don’t travel a lot, just several times a year, and I have earned these points and miles by systematically taking credit card offers and charging everything that is possible on one of two or three credit cards. I particularly like the Starwood American Express card and the Chase preferred visa card. I’ve been known to charge something for as little as $.10. People that don’t engage in this hobby, just don’t understand that it is legitimate and that it benefits all the parties involved. Dave Ramsey is right that people shouldn’t use credit cards irresponsibly and I feel blessed to have a good credit history and good credit score so that I am able to participate in this hobby.

  22. wbl-mn-flyer

    January 9, 2019 at 12:31 pm

    This from a man who makes money selling his followers on front loaded mutual funds. For shame, Dave. For shame.

  23. deadmoneywalking

    January 9, 2019 at 12:35 pm

    Sounds to me like “The Points Guy” et al are in the business of affiliate marketing and thus not an exception to his point.

    I understand that some FT get good value out of “churning” and other tactics. Good for you. That sounds like it takes a bit of time and energy. The average Dave Ramsay listener needs to spend their resources working and paying off debt.

  24. Morgacj2004

    January 9, 2019 at 12:38 pm

    Who cares about Dave Ramsey. He is just another financial hack trying to sell books. I wouldn’t pay any thought to what he has to say. Also the fewer people who are into this the better for me.

  25. darthbimmer

    January 9, 2019 at 1:02 pm

    Dave Ramsey fails to understand the point of credit card travel hacking– or, more likely, willfully misrepresents it to make headlines for himself. Nobody who knows how it works has ever claimed that you can create significant wealth from it. The rewards are on the level of thousands of dollars per year, with a good part of them being in-kind rewards for flights and hotel nights. Cash value is hard to extract. And the game isn’t for everyone. If you can’t pay off your charges promptly the credit card interest and fees can quickly cancel out the value of points earned.

  26. dnwaldmann

    January 9, 2019 at 1:21 pm

    @texastravelguy ” Do you think that Visa, Master Card, Amex and Capital One profit from those that pay off their bills in 30 days?”


    If you had a merchant account you would know.

  27. Snuggs

    January 9, 2019 at 2:46 pm

    …or, more likely, willfully misrepresents it to make headlines for himself….

    Not a blogger….. Gasp The number of stories worth reading is rapidly dwindling… I’m just mad I got suckered into wasting my time on this one!


    January 9, 2019 at 3:02 pm

    Amen, Ariana! It may sound awful, but travel hacking, while not new, may be out of Dave Ramsey’s “realm” and not common to do in folks his age. My husband and I have amazing credit and travel hack ALL the time. Just because someone is a millionaire does not make them smart. Just because someone may be smart may not mean they are a millionaire. His loss 🙂

  29. PaulMSN

    January 9, 2019 at 4:27 pm

    I suspect the people who claim Ramsey is a household name are mostly religious. I never heard of him, but from the posts here he sounds much like those megachurch preachers, so I guess he’s found his target audience.

    Any reasonably prudent person can profit from credit card offers, if they think it worth the trouble. Not everyone does.

  30. jrpallante

    January 9, 2019 at 7:30 pm

    If you are unfamiliar with a subject, you should avoid commenting on it, as it may devalue whatever respect you may have earned in your actual field of expertise. Dave clearly knows nothing about frequent flier miles. “Stupid” is leaving money or miles on the table, when it is just sitting there for the taking. I know several wealthy individuals who enjoy playing the mileage game. None of them made their millions through credit cards, and Dave’s comment on this point is just silly. However, these folks get as big a thrill as I do when they score a free business class ticket to some exotic destination. Some of us also find it rewarding to share our miles with worthy charities (Make-a-Wish, Wounded Warriors, etc.) or friends/relatives who may not have the wherewithal to travel on their own. Dave hates credit because he does not understand how to use credit to his advantage.

  31. siberian4

    January 9, 2019 at 7:37 pm

    2 things: trading free miles for $xx of spending is an even trade. Cancel if you wish (to avoid annual fee) w/o guilt.
    there are many legit reasons for cancelling a card during or after promo period: I recently had fraudulent activity on a new card…they offered to change the card number and fedex me the new one…I declined and said I would use an existing card with same issuer…no problem…looking for next great offer!

    Card issuers want your business, will reward you with miles or points for spending, will be sorry to see you go and welcome you back with open arms. Business cards are a little tougher. Just spend!!

  32. glocklt4

    January 9, 2019 at 7:44 pm

    Ramsey is on KRLD here in Dallas in the evenings. I used to listen to him when I was out on my MS runs, laughing the whole way at any comments he made about credit cards. Now… as others have said above, MOST of his listeners NEEEEED to hear the things that he’s selling, about credit cards and all kinds of things. There are some people out there making reeeeallly bad decisions and I’m glad he’s there to offer advice that many of them listen to. Every once in a while someone calls in that already has good financial sense with a great question for him, but those are never credit card people like us because they know better. For those of us who have figured out the right way to do all of this, just ignore him.

  33. Vinman01

    January 9, 2019 at 8:31 pm

    Let’s clear things up a little. First, the “baby and the bathwater” thing applies to both sides of this argument. Don’t wholly eliminate credit card usage because of the potential perils of debt. Just act responsibly. We miles junkies (probably a bad term to use in this thread I know) all know how quickly carrying balances negates the benefits of miles accumulation. Its kind of the first rule in Miles 101. Second, Dave Ramsey has some other financial advice that’s worth listening to, even if you disagree with his dogmatic stance on credit cards or his faith. Honestly, I’m not a big fan of his and I do think he is too cut and dry on his opinions, but I’m certainly willing to at least listen to what someone that is obviously very successful has to say.

  34. amt

    January 9, 2019 at 10:22 pm

    I actually agree with the assertion in both the tweet and this writers incorrect interpretation of it.

    Clearly the financial advisor is pointing out a classic trait of people with poor financial thinking, spending extra or making irrational decisions because of a trick, gimmick or free gift without considering what it costs them. I see this everyday in people choosing a credit card with higher fees or APR because it gives them a discount in a store, a free gift or airline miles. They are persuaded to buy three of something they only needed one of because of a discount or gift. They buy a 500 dollar item when they wanted a 300 because the 500 is on sale for 20% off. They add all the extras to their car at the dealer because the credit is interest free. So yes people sold a credit card on the basis that offers them a ‘free vacation’ without considering what that credit card will cost them in interest or fees are foolish and will likely never be wealthy.

    Now the writers interpretation, that credit card hacking is for poor people. Yes it can be, to me like everything it can be useful if used moderately, but also tacky or in poor taste if taken to extremes. Most people will gladly negotiate the price of a big purchase a little or plop down a coupon or two at the store. However most people of class do not like being friends with ‘that guy.’ We all know a least one… trying to work the system with double coupons, invites you to a free trip that turns out to be a sales presentation, aggressively haggling, asking to see the manager they don’t get their way or extra discount, the one who tells you what everything cost and needs you to know he got a better deal on anything you own. In my opinion, attempting to ‘hack everything’ and squeeze every dollar is for poor people.

  35. Majuki

    January 10, 2019 at 12:11 am

    Ariana, most of the people on FlyerTalk are not the typical listener of Dave’s program. However, before you make an assertion about Dave not knowing what he’s talking about, you should do your research. Dave has a nationally syndicated radio program, has had multiple bestselling books, and even had a TV program about ten years ago. The principles that he espouses, such as eliminating debt, saving for retirement, and living within one’s means are completely sound. He also realizes as others have pointed out that credit cards – especially for those already in debt – are a path to trouble and can easily put people in a position where they’re in over their heads. To put things in an analogy you might understand, imagine someone trying to engage in manufactured spending. The individual starts off small – like someone might start carrying a small credit card balance – and then acclimates to buying $2,000 in gift cards daily until one day the person finds out at all of the Walmart Money Centers in the area no longer work because some heavy hitter came in and caused memos to go out. Suddenly said individual is in a cash crunch having $2,000 in gift cards without an easy liquidation path. While there are plenty of stories of people on FlyerTalk maximizing and gaming miles and points systems and capturing lucrative credit card bonuses, we represent a tiny fraction of the cardholder population.

    Dave’s comment is spot on. Millionaires don’t let their miles and points define who they are. Their path to financial success was not through credit cards.

  36. Dalo

    January 10, 2019 at 12:19 am

    Similar to Alex Jones or Ann Coulter I think Dave knows his audience very well and doesn’t necessarily believe his own words with complete conviction . Like Jimmy Swaggart or even you know who he tells them what to believe and what they want to hear. He even reassures them that they are being smart by saying they don’t use “stupid credit card tricks” For Dave though it’s a living .

  37. brianguy

    January 10, 2019 at 6:16 am

    Dave Ramsey is the type of guy who thinks investing is a foreign concept, and paying off 0-3% debt as fast as possible is a great idea. Not having any credit card debt is important yes, and not having rewards credit cards means you can’t get into credit card debt that’s true. But generally he has crazy listeners who are already on the verge of bankruptcy and often gives stupid advice to boot. He’s also a huckster for worthless term insurance. Why? It’s the cheapest. Probably the worst advice he gives is to pay off the smallest debt first no matter what, which is simply ludicrous because you could be racking up hundreds or thousands more in interest than you should.

    If you’re going to listen to a radio guy for financial tips, stick to Clark Howard instead.

  38. jsintexas

    January 10, 2019 at 10:47 am

    I retired this year after 40 years in the business world traveling international for the past 30 years.

    I have 3 credit cards that all pay me cash back. My company paid my travel expenses so all of the airfares, hotels and T&E charged to my cards resulted in large amounts of cash back. I also kept loyalty to American Airlines and SPG hotels that let me travel on vacation for low costs.

    I pay my balance every month in full. You have to use credit cards when you travel because you can not carry $5,000 in cash with you.

  39. moneeman

    January 10, 2019 at 12:33 pm

    Ramsay gears his advice to those who need help with their finances. He can’t be a personal advisor to each person, so he sets rules that, if followed, lead to financial success.

    I facilitate a Dave Ramsay class at church, which by the way, is very light on theology. I don’t agree with everything he says, but overall his plan works. It may not be for the typical FT’er, but there are hundreds of thousands, if not millions, who are carrying very large non-mortgage debt. Those individuals need help, and Ramsay’s plan is a good option.

    He espouses no credit because most people cannot responsibility handle it. Personally, I carry four credit cards and pay off the entire balance each month. I don’t churn cards like some, but do take advantage of occasional great offers. Most high value offers require very significant spend within 90 days. That is a huge problem for someone already struggling with debt. Also, while the free flights and hotel stays are great fun, they invite if not require significant spending that those in debt cannot afford. It is not stupid to leave an offer on the table if requires you to spend money you don’t have.

    Finally, he recommends term insurance because the true need for the insurance is for a limited time. If you currently have a whole or universal life policy, he recommends replacing it with term and investing the savings you will get from lower premiums. Insurance companies pay out lousy returns on investments within those policies.

  40. Mileage Launderer

    January 10, 2019 at 3:11 pm

    In Dave Ramsey’s simplified universe:
    Cash is King, Debt is Dumb.
    –> Therefore, All Credit Cards are Dumb.
    —> Therefore, Credit Cards with sign-up bonuses are also Dumb.

  41. job4travel

    January 11, 2019 at 7:08 am

    @brianguy – Dave Ramsey DOES NOT think investing is a foreign concept. He HIGHLY recommends, once all your consumer debt is paid off, investing a minimum of 15% of your gross income in a well-balanced investment portfolio. It’s obvious you’ve never read Dave Ramsey’s books or listened to his show for more than 5 minutes.

    @jsintexas – So, you reported gross expenses to your employer for reimbursement but received “cash back” from your credit card issuer for all the purchases you were being reimbursed for… How is that not stealing? No wonder companies are beginning to require employees use company sponsored credit cards for all reimbursable expenses…

    @Majuki – Very well said.

    To All – When the average airline loyalty mile is worth a whopping 1.3 cents, it takes almost $80 million in spending to amass $1 million worth of miles (at a $1 to 1 mile rate). For 99.99% of us, wealth can only be secured through hard work, saving/investing and staying out of debt.

  42. jan_believes

    January 11, 2019 at 12:24 pm

    Dave Ramsey has been spouting that line, “I never met a millionaire who said, ‘I made all my money with airline miles.’” FOR YEARS. Literally. BTW, the context is: becoming a millionaire, which is what he is. No jealousy here. But, beating a cheap throwaway line like that is about judging, not intellectual debate with details why travel rewards can be helpful.

    The best thing DR ever did was not write a NYT best seller. The best idea he has had is addressing one’s debt with the “snowball” payment plan for those who are, even though it’s not perfect, either. But, it is effective for the determined.

    He does live in a simplified universe as ML posted earlier. Cornbread radio and debt is dumb…over and over AND over. There will always be those that praise him.

    I remember distinctly him raising his voice against a caller who sincerely wanted to work toward addressing her debt and low income ways, but because her situation did not match the template he expected as he questioned her, he got rid of her off the air, launching into a tirade. I doubt his sincerity, frankly. He also brags about his tithing. The Bible says that when giving, don’t let your right hand know what your left hand IS doing.

    There are pastors who don’t believe that borrowing is particularly wrong. Not paying your bills is wrong. As far as his judgement, well, think about the plank in the eye.

  43. Dalo

    January 12, 2019 at 10:20 pm

    Rich people don’t bother with Dave Ramsey’s BS either

  44. htb

    January 14, 2019 at 3:31 am

    If someone tells the public that travel hacks are a waste of time, the most you do is to nod and to move on.
    What you definitely don’t do is to argue against his position! People who do would probably also shoot themselves into their feet just to prove a point…


  45. edyang

    January 14, 2019 at 1:41 pm

    Ridiculing Dave Ramsey without doing your due diligence is just as bad as DR putting out a blanket tweet. I’ve read his book and listened to his show. Ramsey’s sound financial advice has helped many people get out of debt. For those of us who can manage our credit cards without falling into the ditch of debt, his advice doesn’t apply.

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