One Mile at a Time [OMaaT] discussions [merged]
Jul 28, 2015, 5:52 pm
#766
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,026
Jul 28, 2015, 6:00 pm
#767
Join Date: Feb 2009
Posts: 3,737
NYT: How Much Credit Card Rewards Cost the Poor
Shocked I haven't seen this argument brought up in the comments section of all of the media coverage. There are a lot of negative comments directed towards Ben beyond what we talk about here. Though no one really points out that he is one of the top promoters of award credit cards. This short opinion article from the New York Times. Do award credit cards really increase the price you pay on every day products?
Jul 28, 2015, 6:08 pm
#768
Join Date: Dec 2004
Programs: UA-1K, MM, Hilton-Diamond, Marriott-Titanium
Posts: 4,423
Jul 28, 2015, 6:09 pm
#769
Join Date: Dec 2004
Programs: UA-1K, MM, Hilton-Diamond, Marriott-Titanium
Posts: 4,423
Jul 28, 2015, 6:14 pm
#770
Join Date: Dec 2004
Programs: UA-1K, MM, Hilton-Diamond, Marriott-Titanium
Posts: 4,423
NYT: How Much Credit Card Rewards Cost the Poor
Shocked I haven't seen this argument brought up in the comments section of all of the media coverage. There are a lot of negative comments directed towards Ben beyond what we talk about here. Though no one really points out that he is one of the top promoters of award credit cards. This short opinion article from the New York Times. Do award credit cards really increase the price you pay on every day products?
Shocked I haven't seen this argument brought up in the comments section of all of the media coverage. There are a lot of negative comments directed towards Ben beyond what we talk about here. Though no one really points out that he is one of the top promoters of award credit cards. This short opinion article from the New York Times. Do award credit cards really increase the price you pay on every day products?
Jul 28, 2015, 6:21 pm
#771
Join Date: May 2009
Location: South Park, CO
Programs: Tegridy Elite
Posts: 5,678
Hey remember the Etihad Residences experience that was very important to pitch in and help Ben fly on (all for the reader, of course) and anyone who didn't support the campaign was just a hater?
Well, good thing the Kickstarter failed because The Residences aren't all that anyway:
Somebody has a bowl full of sour grapes...
Well, good thing the Kickstarter failed because The Residences aren't all that anyway:
I’d say that the First Class Apartment actually outshined The Residence, which is the part of the plane which got the most attention. The Residence is a private, three room suite (you have a living room, bedroom, and private bathroom with shower) with butler service. It’s unlike anything which has ever been offered in commercial aviation… and not surprisingly it came at a steep price tag.
Jul 28, 2015, 6:40 pm
#772
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,026
He has to show this jet-set lifestyle to entice people to follow his program! Yes, he spends an insane amount on upscale travel. It's all for the viewer!
Seems like a very, very easy explanation to the IRS to me.
Jul 28, 2015, 6:47 pm
#773
Join Date: Feb 2015
Posts: 194
At heart, aren't all of these bloggers just current version of people like Tom Vu and other hucksters?
Tom Vu and his ilk purported to show you how to buy distressed property with no money down, but in reality, they were selling a lifestyle.
The customer was YOU - YOU paid for the seminar or the book or the complete package in three easy payments plus shipping and handling. These guys were never about buying the real estate themselves, or they weren't for long, anyway. They were trying to capitalize on their systems. If they really wanted to score big with real estate, they wouldn't be out preaching their systems and seminars and generating tons of competitors for the distressed properties. They'd be buying the distressed properties as quietly as possible.
Ben doesn't sell a seminar - he gets affiliate credit for your credit card signup. Effectively, same thing.
So Tom Vu drove his Rolls full of women in bikinis to his yacht.
Ben's analog is drinking Krug on a rose petal bed in a Singapore Suite.
Tom had to make the lifestyle look appealing to fill seats. Ben has to make the lifestyle appealing to get those credit card apps. Tom wasn't about the real estate - it was a means to an end: money.
Tom's customer was you. Ben's customer is you.
Tom Vu and his ilk purported to show you how to buy distressed property with no money down, but in reality, they were selling a lifestyle.
The customer was YOU - YOU paid for the seminar or the book or the complete package in three easy payments plus shipping and handling. These guys were never about buying the real estate themselves, or they weren't for long, anyway. They were trying to capitalize on their systems. If they really wanted to score big with real estate, they wouldn't be out preaching their systems and seminars and generating tons of competitors for the distressed properties. They'd be buying the distressed properties as quietly as possible.
Ben doesn't sell a seminar - he gets affiliate credit for your credit card signup. Effectively, same thing.
So Tom Vu drove his Rolls full of women in bikinis to his yacht.
Ben's analog is drinking Krug on a rose petal bed in a Singapore Suite.
Tom had to make the lifestyle look appealing to fill seats. Ben has to make the lifestyle appealing to get those credit card apps. Tom wasn't about the real estate - it was a means to an end: money.
Tom's customer was you. Ben's customer is you.
He couldn't give a rat's a** about MS. He doesn't need it.
If he gets 10 CC signups a day @ $300 per, he grosses over a million a year.
10 a day? Easy. Probably just gets that from the FT cohort.
With this article? He could be getting 100 a day.
Get publicity. Sell your brand. Make people want what you demonstrate.
Oh - and who cares if they end up holding balances or paying annual fees or doing bad redemptions.
He and all of the other bloggers who are young and smart and got in early are making a mint. They can afford to pay for first class fares.
How many times can we hear about the Citi Prestige ($300 for your successful app - thank you!) versus the Citi Premier (just a bit less - thank you!) or versus the Amex Platinum (even more - really, really thanks!)?
These guys all drool when a new twist comes out - it's a whole other slew of comparisons and BS interspersed with pictures of amazing treatment for the elitist of travelers. Want that? Get this card! Well, maybe not exactly, but kinda.
He's not quite ZZZZ Best, but he's definitely demonstrating one thing, and selling another. There's some term for that . . .
Jul 28, 2015, 8:48 pm
#774
Join Date: Dec 2004
Programs: UA-1K, MM, Hilton-Diamond, Marriott-Titanium
Posts: 4,423
LOL. that sounds like some guy running a Ponzi scheme explaining to the IRS that he needs to deduct all his business expenses to get new suckers to join as his old suckers have cashed out (or in the case of Chase and Amex CCs, reached their lifetime limit). It may be legit but I don't think it'd be easy to explain.
Jul 28, 2015, 9:55 pm
#775
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,026
LOL. that sounds like some guy running a Ponzi scheme explaining to the IRS that he needs to deduct all his business expenses to get new suckers to join as his old suckers have cashed out (or in the case of Chase and Amex CCs, reached their lifetime limit). It may be legit but I don't think it'd be easy to explain.
Jul 28, 2015, 10:35 pm
#776
Join Date: May 2006
Location: SAN
Programs: Lots of faux metal
Posts: 6,416
Jul 29, 2015, 7:32 am
#777
Join Date: Jun 2014
Location: DFW
Programs: AA Lifetime Gold, Admirals Club, Global Entry
Posts: 1,141
My goodness but that takes me back. Tom Vu and ZZZZ Best! My other favorite was First Jersey Securities. (Wonderful commercials, good visuals.) Nice line about MS, too. Or at least it made me laugh.
But, really, I think you've gone too far and have lost perspective a bit. The credit card stuff, the redemptions, and the product reviews are all pretty straightforward, so far as they go. After all, we've all used the techniques. Or at least I hope we have.
But I think you're right that the over-all lifestyle, as opposed to specific individual techniques, isn't really replicable. I'm also not sure what the future of card churning is since the bigger card companies -- Chase, Amex, Citi -- seem to be tightening up.
Low-level "saver" space redemptions also seem to be getting tougher to find -- which, by the way, is one reason why the Prestige card is so great. Any seat, any time at 1.6 cents; Admirals Club access; lots of 3x and 2x on the earning side; and a $100/year net fee for me. It ain't all snake oil, folks.
But, really, I think you've gone too far and have lost perspective a bit. The credit card stuff, the redemptions, and the product reviews are all pretty straightforward, so far as they go. After all, we've all used the techniques. Or at least I hope we have.
But I think you're right that the over-all lifestyle, as opposed to specific individual techniques, isn't really replicable. I'm also not sure what the future of card churning is since the bigger card companies -- Chase, Amex, Citi -- seem to be tightening up.
Low-level "saver" space redemptions also seem to be getting tougher to find -- which, by the way, is one reason why the Prestige card is so great. Any seat, any time at 1.6 cents; Admirals Club access; lots of 3x and 2x on the earning side; and a $100/year net fee for me. It ain't all snake oil, folks.
Jul 29, 2015, 2:40 pm
#778
Join Date: Jun 2003
Location: Seattle WA
Programs: AS 100K, Marriott LT Platinum
Posts: 1,828
If he gets 10 CC signups a day @ $300 per, he grosses over a million a year.
<snip>
How many times can we hear about the Citi Prestige ($300 for your successful app - thank you!) versus the Citi Premier (just a bit less - thank you!) or versus the Amex Platinum (even more - really, really thanks!)?
<snip>
How many times can we hear about the Citi Prestige ($300 for your successful app - thank you!) versus the Citi Premier (just a bit less - thank you!) or versus the Amex Platinum (even more - really, really thanks!)?
$30 per I could see, but $300? If that's true -- WOW
Jul 29, 2015, 2:58 pm
#779
Join Date: Dec 2007
Location: DFW
Programs: AA Lifetime Platinum, Hyatt Plat Hilton Gold, SPG Gold, Club Carl Gold, IHG Plat
Posts: 1,002
[QUOTE=Tracer_SEA;25192254]Do credit card companies really pay bounties of $300 per app???
$30 per I could see, but $300? If that's true -- WOW[/
I understand that the bounty can be as high as $500 to $525 for certain cards.
$30 per I could see, but $300? If that's true -- WOW[/
I understand that the bounty can be as high as $500 to $525 for certain cards.
Jul 29, 2015, 3:00 pm
#780
Join Date: Dec 2004
Programs: UA-1K, MM, Hilton-Diamond, Marriott-Titanium
Posts: 4,423
From what I have heard, yes but there is also a range and I believe that is the highest. Most of the "Titans" like the Rock Star and his "apprentices" are in it for the $$$$. Nothing wrong with that, they should just drop the acts that they are offering these CC links for the sole purpose of allowing their readers to travel "free". They are offering the CCs so they can make money and pay for their own tickets.
