'Airheads in the Rewards Credit Cards Bubble' [split off from Boarding Area's Fall]
Sep 26, 2014, 12:58 pm
#1
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'Airheads in the Rewards Credit Cards Bubble' [split off from Boarding Area's Fall]
Here's something that many of you have perhaps already seen by now, a real over-the-top frontal assault by one blogger on two others: "Airheads in the Rewards Credit Cards Bubble." While the tone of the post itself is respectful, the headline is affirmatively vicious and the attack, devastating. It's also a little unfair, of course.
Sep 26, 2014, 1:06 pm
#2
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Originally Posted by Loyalty Traveler
I generally try not to piss off too many people. I leave that job to TravelBloggerBuzz.
Sep 26, 2014, 1:34 pm
#3
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Yes, that was one of my favorite lines, too.
It finally inspired me, among other things, to go back to post No. 14 on the new BAcon 214 thread to try to figure out what it was saying, now that I had a bit more context to work with. Sometimes I'm afraid that I have trouble understanding stuff if the grammar, the diction and the punctuation are all sufficiently non-standard.
It finally inspired me, among other things, to go back to post No. 14 on the new BAcon 214 thread to try to figure out what it was saying, now that I had a bit more context to work with. Sometimes I'm afraid that I have trouble understanding stuff if the grammar, the diction and the punctuation are all sufficiently non-standard.
Sep 26, 2014, 1:36 pm
#4
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Here's something that many of you have perhaps already seen by now, a real over-the-top frontal assault by one blogger on two others: "Airheads in the Rewards Credit Cards Bubble." While the tone of the post itself is respectful, the headline is affirmatively vicious and the attack, devastating. It's also a little unfair, of course.
There are likely many, many folks who want to travel like a transportation blogger so follow their credit card churning advice (making the blogger some dough) and end up in financial straits as a result.
Do we blame the cigarette companies or the smoker? Depends. One comment to that post nails it:
In the ideal world, there would be a mandatory introductory warning paragraph about the dangers of debt in every cc pumping post by an “airhead in the…bubble”. But I fear that Upton Sinclair nailed it long ago: ‘It is difficult to get a man to understand something, when his salary depends on his not understanding it.’
Sep 26, 2014, 4:56 pm
#5
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I don't view it as an attack so much as a giant CAVEAT EMPTPOR. And absolutely spot on, and worthy of a link: http://loyaltytraveler.boardingarea....-cards-bubble/
There are likely many, many folks who want to travel like a transportation blogger so follow their credit card churning advice (making the blogger some dough) and end up in financial straits as a result.
Do we blame the cigarette companies or the smoker? Depends. One comment to that post nails it:
There are likely many, many folks who want to travel like a transportation blogger so follow their credit card churning advice (making the blogger some dough) and end up in financial straits as a result.
Do we blame the cigarette companies or the smoker? Depends. One comment to that post nails it:
I know hundreds, even thousands, who have used rewards cards successfully to maximize the purchases they were going to make anyway.
From the same post she comments, correctly, that:
The rewards are great, but unlike with Halloween, this isn’t a “one night only” opportunity. This is something you can be in for the long haul, so start slowly and don’t feel the need to open up tons of accounts all at once.
Sep 26, 2014, 4:57 pm
#6
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My post on that article:
Great post, easily the best I’ve ever read on BA.
Loud and proud: I got myself into $10,000 into debt. I’m not going to say “it’s all the travel bloggers fault” = but the incessant pushing, the affiliate articles, et al…it’s like reading a pamphlet from my local bank.
I started out paying my cc’s in full. Then new credit cards would come out. Then new spending limits. Then “app-o-ramas”. Then manufactured spending.
Can you believe these bloggers would push manufactured spending? Unethical at best.
Long story short, I used to aspire to be a “travel blogger” – and I still do. But as I start my travel “blog”, I know two things: (1) I’ll never push credit cards onto my readers, and (2) I won’t be a transportation blogger (hotels are one thing, but to call One Mile at a Time a travel blog is disgustingly laughable).
Anyways, debt is gone, as I’m currently a part-time attorney with no student loan debt. But the debt games we play are real. I’m a smart guy (I think), and reading BA and seeing 10 bloggers push the same credit cards once got my heart racing and I just HAD to apply at all costs. Now it’s slightly nauseating.
Keep up the good work!
Great post, easily the best I’ve ever read on BA.
Loud and proud: I got myself into $10,000 into debt. I’m not going to say “it’s all the travel bloggers fault” = but the incessant pushing, the affiliate articles, et al…it’s like reading a pamphlet from my local bank.
I started out paying my cc’s in full. Then new credit cards would come out. Then new spending limits. Then “app-o-ramas”. Then manufactured spending.
Can you believe these bloggers would push manufactured spending? Unethical at best.
Long story short, I used to aspire to be a “travel blogger” – and I still do. But as I start my travel “blog”, I know two things: (1) I’ll never push credit cards onto my readers, and (2) I won’t be a transportation blogger (hotels are one thing, but to call One Mile at a Time a travel blog is disgustingly laughable).
Anyways, debt is gone, as I’m currently a part-time attorney with no student loan debt. But the debt games we play are real. I’m a smart guy (I think), and reading BA and seeing 10 bloggers push the same credit cards once got my heart racing and I just HAD to apply at all costs. Now it’s slightly nauseating.
Keep up the good work!
Sep 26, 2014, 6:55 pm
#7
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I disagree completely and absolutely. These two blogs are travel/transportation and miles/points blogs, not debt counseling services for adults (!) with poor self-control or the real misfortune to become sick or unemployed. Faulting them for this is, in a word, silly, no matter how well meant. And I say this even though I find Mommy Points so sulfurously misleading as to be, for me anyway, almost entirely unreadable; and Miles Professor, again for me, is less readable still.
Sep 26, 2014, 8:11 pm
#8
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I disagree completely and absolutely. These two blogs are travel/transportation and miles/points blogs, not debt counseling services for adults (!) with poor self-control or the real misfortune to become sick or unemployed. Faulting them for this is, in a word, silly, no matter how well meant. And I say this even though I find Mommy Points so sulfurously misleading as to be, for me anyway, almost entirely unreadable; and Miles Professor, again for me, is less readable still.
I think that's a fair perspective.
But, to me, the question lies in the disclosure. Cigarettes have blantant warnings. Casinos have huge posters about gambling addiction (especially near the ATMs).
No blogger starts a credit card pimp post with the large and clear warning: CAUTION: FOLLOWING MY ADVICE MAY LEAD TO FINANCIAL STRAITS. DON'T CHURN IRRESPONSIBLY!
Sep 26, 2014, 9:11 pm
#9
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I disagree completely and absolutely. These two blogs are travel/transportation and miles/points blogs, not debt counseling services for adults (!) with poor self-control or the real misfortune to become sick or unemployed. Faulting them for this is, in a word, silly, no matter how well meant. And I say this even though I find Mommy Points so sulfurously misleading as to be, for me anyway, almost entirely unreadable; and Miles Professor, again for me, is less readable still.
Though I took Loyalty Traveler's post as being more focused on the other two bloggers' statements about not really knowing anyone who has experienced credit problems. As I mentioned above I found the one Mommy Points quote in that regard to be hard to believe. Of course it's impossible to say whether either of those bloggers truly does or doesn't personally know many people in bad situations due to credit cards. But I thought Ric's post was thought provoking about the subject, whatever one's view.
Sep 26, 2014, 9:35 pm
#10
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I'm going to go on a limb and say that part if the "not knowing anyone who has gotten in trouble with credit cards" probably is a factor relevant to age.
I think the more seasoned we get, the more we let it all hang out.
When I was in my 20s, that I just isn't something my friends would talk about. Everyone wanted to put on their brave "I'm doing fine" face.
By my 30s, you'd get groups of friends sitting around and folks would start talking generally about debt and suddenly stories would come tumbling out.
Now in my 40s, I only know a handful of rare unicorns who have not had some kind of hiccup with finances along the way, whether it's have a short sale on a house, a reduced credit line, a layoff, a forced refi, a repo, or even a bankruptcy. Then again, I used to live in a wealthy Dallas suburb where at one point in the last decade, one in three households had filed for bankruptcy.
The stuff is more common than it seems and I know too many lives touched during the last couple recessions to ever want to consciously contribute to that. But in my 20s, I would have been all over it.
I think the more seasoned we get, the more we let it all hang out.
When I was in my 20s, that I just isn't something my friends would talk about. Everyone wanted to put on their brave "I'm doing fine" face.
By my 30s, you'd get groups of friends sitting around and folks would start talking generally about debt and suddenly stories would come tumbling out.
Now in my 40s, I only know a handful of rare unicorns who have not had some kind of hiccup with finances along the way, whether it's have a short sale on a house, a reduced credit line, a layoff, a forced refi, a repo, or even a bankruptcy. Then again, I used to live in a wealthy Dallas suburb where at one point in the last decade, one in three households had filed for bankruptcy.
The stuff is more common than it seems and I know too many lives touched during the last couple recessions to ever want to consciously contribute to that. But in my 20s, I would have been all over it.
Sep 26, 2014, 9:49 pm
#11
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Sep 27, 2014, 10:15 am
#13
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Apart from the valuable information, one of the reasons I love Flyer Talk is for the sheer entertainment value. Tjbrooks, your post is pure, pure greatness! I'm still laughing and, oh, the irony . . . .
I also agree with 84fiero that they would've been better off simply just not posting.
I think everyone has to tailor his credit card activities to his own, unique circumstances. I don't churn or do MS and, frankly, the whole subject bores me. I can't even read that stuff. But will I bite at a 100,000 miles/points offer? Sure.
I also agree with 84fiero that they would've been better off simply just not posting.
I think everyone has to tailor his credit card activities to his own, unique circumstances. I don't churn or do MS and, frankly, the whole subject bores me. I can't even read that stuff. But will I bite at a 100,000 miles/points offer? Sure.
Sep 28, 2014, 8:54 am
#14
Formerly known as iahsumr
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I gotta say it does feel a bit crazy to post about the dangers of credit card and then get more or less called an airhead for not knowing the dangers of credit cards....
Best I can tell, other than for those that just don't care for my site or me in general, the paragraph that didn't sit well for some was:
"In my 3.5 years of writing about this type of stuff, I only personally know one person who has gotten a rewards credit card primarily for the travel rewards, and then maxed it out on unneeded items. I know hundreds, even thousands, who have used rewards cards successfully to maximize the purchases they were going to make anyway. However, even though I only personally know of one person who got a rewards card and then came up on the losing end of the financial equation, the risk is there for that to happen for others if you aren’t careful and honest with yourself."
Though the last sentence of the paragraph (and really the rest of the post) seem to be omitted from any analysis or discussion.
My blog focuses on credit cards from the perspective of leveraging everyday spending for rewards, and my post on the risks of credit cards also comes from that perspective. I only personally know of one person who got a credit card primarily for the rewards and then racked up some debt on it. I know several more than that who had trouble with credit cards, mostly in their younger college years, but certainly not limited to that.
Those folks were not using cards primarily to try to earn airline miles. They were using them because they didn't have money for groceries, rent, were "young and dumb", etc. The risks for debt is real, and I do share that warning, but the cards on my site aren't the kind that a college kid, person with sub-prime credit, etc. are going to get. These are cards for people with very good credit who can of course still be tempted to over do-it, and that is where I targeted my warnings.
As was pointed out in this thread (and shared repeatedly on my blog in the interest of both transparency and to potential help others), my husband does have a bankruptcy in his past from before we ever met. It impacted him for years, and of course led to my high level of respect for the dangers of credit. It is now more than 10 years old and no longer impacting his credit score. He is a great example someone who had a bad credit situation in his past, but now uses rewards cards responsibly to avoid interest but rack up miles, points, etc.
I know the risks of credit. I share the risks of credit. However, I also share the realities of the rewards. Credit isn't something in my mind to be feared, and thus the post was not written in a way to scare, but in a way to just encourage reality checks. Credit is something to be respected, and the only way to be sure you are coming up on the winning in is to be honest and take a real looking at your spending patterns.
I disagree that writing the post was a mistake. Certainly might have been easier for me personally given the backlash from a segment of this community, but for the intended audience it was a good reminder to be mindful of the dangers. Overdoing it can happen, and as I said in the post, the risk is there if you aren't careful and honest with yourself.
Good to know that so many in the miles and points world share the concern for others and their debt/credit situations.
Best I can tell, other than for those that just don't care for my site or me in general, the paragraph that didn't sit well for some was:
"In my 3.5 years of writing about this type of stuff, I only personally know one person who has gotten a rewards credit card primarily for the travel rewards, and then maxed it out on unneeded items. I know hundreds, even thousands, who have used rewards cards successfully to maximize the purchases they were going to make anyway. However, even though I only personally know of one person who got a rewards card and then came up on the losing end of the financial equation, the risk is there for that to happen for others if you aren’t careful and honest with yourself."
Though the last sentence of the paragraph (and really the rest of the post) seem to be omitted from any analysis or discussion.
My blog focuses on credit cards from the perspective of leveraging everyday spending for rewards, and my post on the risks of credit cards also comes from that perspective. I only personally know of one person who got a credit card primarily for the rewards and then racked up some debt on it. I know several more than that who had trouble with credit cards, mostly in their younger college years, but certainly not limited to that.
Those folks were not using cards primarily to try to earn airline miles. They were using them because they didn't have money for groceries, rent, were "young and dumb", etc. The risks for debt is real, and I do share that warning, but the cards on my site aren't the kind that a college kid, person with sub-prime credit, etc. are going to get. These are cards for people with very good credit who can of course still be tempted to over do-it, and that is where I targeted my warnings.
As was pointed out in this thread (and shared repeatedly on my blog in the interest of both transparency and to potential help others), my husband does have a bankruptcy in his past from before we ever met. It impacted him for years, and of course led to my high level of respect for the dangers of credit. It is now more than 10 years old and no longer impacting his credit score. He is a great example someone who had a bad credit situation in his past, but now uses rewards cards responsibly to avoid interest but rack up miles, points, etc.
I know the risks of credit. I share the risks of credit. However, I also share the realities of the rewards. Credit isn't something in my mind to be feared, and thus the post was not written in a way to scare, but in a way to just encourage reality checks. Credit is something to be respected, and the only way to be sure you are coming up on the winning in is to be honest and take a real looking at your spending patterns.
I disagree that writing the post was a mistake. Certainly might have been easier for me personally given the backlash from a segment of this community, but for the intended audience it was a good reminder to be mindful of the dangers. Overdoing it can happen, and as I said in the post, the risk is there if you aren't careful and honest with yourself.
Good to know that so many in the miles and points world share the concern for others and their debt/credit situations.
Sep 28, 2014, 9:45 am
#15
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Well put, MP. And brave of you to jump into the pit here, and with such class.
I agree with George and the others that you're a card pusher, but it I wanted to start swinging at the line of heavy card pushers, I'd hit a lot of knuckleheads before I get to you.
Folks, these bloggers are card salesman, paid by banks because they write in ways that intrigue and draw in customers the banks want to hold their cards. The bloggers get paid in cash and the customers get paid in miles. This is no different than ESPN running beer ads during NFL games. You watch the content, you buy the product.
I know a lot of people who have run off the credit cliff, including members of my family. I tell them all the same thing-cut up all the cards, buy and set-up Quicken, and start spending only what you earn.
In other words, grow up.
I agree with George and the others that you're a card pusher, but it I wanted to start swinging at the line of heavy card pushers, I'd hit a lot of knuckleheads before I get to you.
Folks, these bloggers are card salesman, paid by banks because they write in ways that intrigue and draw in customers the banks want to hold their cards. The bloggers get paid in cash and the customers get paid in miles. This is no different than ESPN running beer ads during NFL games. You watch the content, you buy the product.
I know a lot of people who have run off the credit cliff, including members of my family. I tell them all the same thing-cut up all the cards, buy and set-up Quicken, and start spending only what you earn.
In other words, grow up.