Originally Posted by
PointsPanda
I think the concept of "sucker" is in the beholder. (...)
I have about 40 clients I charge per year to manage their credit card and miles strategy (I charge per year), and I know this is not a substantial sample but I think there are a lot more people earning hundreds of thousands of airline miles and credit card points a year (or even millions) then you might suspect. They're just too busy to strategize and would rather just use the points stupidly and save money, then save up for the perfect flight. Especially since they usually need to fly on very specific dates. Thats why you don't see these people on FT, but trust me they are around.
(...)
Agreed on the first point, and I very well know regarding the second and agree that you are right. In fact, until the ridiculous 72 hour rule, one of the best uses of SkyMiles has been for business (work) domestic flights, where one may get a not-that-great value, but can avoid the $150 change or redeposit fee in case of last minute changes (with PM or higher status), that is much more frequently of real use and value with business than with pleasure travel. All you need is one PM or DM within a company under whose account the spend-based miles are earned. Probably too many business customers were doing so, which is why DL instituted the 72 hour rule on cancellations.
A business spending a few $M/year smartly via CCs will obviously earn accordingly millions of miles or points, as is the responsible and smart thing to do. However, while a portion may be on airline or program specific points - for example, specific bonus category (such as Chase UR 5x categories), the majority should be on simple 3% cashback, that is by far the smartest and most responsible thing to do, in order to get the best value and flexibility for the business, vs. be locked into a specific card issuer points program that is subject to change and has limited use of points and otherwise lesser value, or even worse a specific airline or hotel points that are subject to frequent devaluation and offer very limited uses. I would think that anyone managing others' credit cards would steer the higher spenders towards 3% cash-back type of points, that, at such larger spend and levels, generally provide the best value and flexibility (save, perhaps, some program specific higher category bonuses for a portion of the spend that qualifies).