Wal-Mart, Amex take on banks with Bluebird debit card
Dec 31, 2012, 1:56 pm
#4831
Suspended
Join Date: May 2010
Posts: 2,998
If no one lost money on sending money in a cycle, then why was OD forced to pull the cards? I believe that Chase clearly put pressure on them because they were handing out tons of points for nothing. Now I know that things aren't exactly the same now that we are only earning 1 point per dollar, but I can't imagine that credit card companies are thrilled to be handing out points for practically nothing.
Credit card companies also make a lot of money off of the interest they charge cardholders who do not pay their bill in full each month. Its been said many times that the most valuable client to a credit card company is not the person who pays their bill off each month, but the person who provides lots of interest income. Credit card companies might not be losing money on cycling but I bet they arent exactly enamored with clients such as us.
Credit card companies also make a lot of money off of the interest they charge cardholders who do not pay their bill in full each month. Its been said many times that the most valuable client to a credit card company is not the person who pays their bill off each month, but the person who provides lots of interest income. Credit card companies might not be losing money on cycling but I bet they arent exactly enamored with clients such as us.
Dec 31, 2012, 1:57 pm
#4832
Join Date: Nov 2012
Location: NYC
Posts: 398
Credit card companies also make a lot of money off of the interest they charge cardholders who do not pay their bill in full each month. Its been said many times that the most valuable client to a credit card company is not the person who pays their bill off each month, but the person who provides lots of interest income. Credit card companies might not be losing money on cycling but I bet they arent exactly enamored with clients such as us.
Dec 31, 2012, 2:23 pm
#4833
Join Date: Jan 2009
Location: LAX
Posts: 670
Perhaps I was a bit hyperbolic in my statement. I do not believe that everyone out there is just interested in short term gains. I am just a bit disappointed at the influx of people who dont seem to have the long term point of view that you and I have. I am thankful for people out there such as yourself and hope that you and I continue to benefit from this game for years to come.
If no one lost money on sending money in a cycle, then why was OD forced to pull the cards? I believe that Chase clearly put pressure on them because they were handing out tons of points for nothing. Now I know that things aren't exactly the same now that we are only earning 1 point per dollar, but I can't imagine that credit card companies are thrilled to be handing out points for practically nothing.
Credit card companies also make a lot of money off of the interest they charge cardholders who do not pay their bill in full each month. Its been said many times that the most valuable client to a credit card company is not the person who pays their bill off each month, but the person who provides lots of interest income. Credit card companies might not be losing money on cycling but I bet they arent exactly enamored with clients such as us.
Credit card companies also make a lot of money off of the interest they charge cardholders who do not pay their bill in full each month. Its been said many times that the most valuable client to a credit card company is not the person who pays their bill off each month, but the person who provides lots of interest income. Credit card companies might not be losing money on cycling but I bet they arent exactly enamored with clients such as us.
Dec 31, 2012, 2:47 pm
#4834
Join Date: May 2011
Location: MSP
Programs: DL GM
Posts: 342
Found a sweet stash of beans at a gas station, going to mine this vein until it gives out. Double points on "fuel" purchases!
Dec 31, 2012, 3:18 pm
#4835
Join Date: Nov 2012
Location: Bay Area (the one in CA)
Programs: UR, *A, UA
Posts: 26
Dec 31, 2012, 3:35 pm
#4836
Join Date: Aug 2012
Programs: HH Diamond, Hyatt Globalist, Marriott Gold, Club Carlson Gold, National EE, *G
Posts: 470
Any gas stations in Southern Cal. sell beans? 
Dec 31, 2012, 3:37 pm
#4837
Join Date: Feb 2012
Location: Los Angles
Posts: 2,101
The term 'money laundering' is loosely used here(FT) often, usually 'cash money' transaction has to involved in the circle.
Dec 31, 2012, 3:39 pm
#4838
Join Date: Nov 2009
Location: SDF
Programs: UA, HH
Posts: 692
I would agree that the only possible side that looses the money here is banks who give out points. Since the game shifted from OD+Ink (I believe I was the last straw - you can blame me for VR pulled out of OD - happened as soon as I got my first VR cards at OD ) - and now spread through a number of cards/ banks/ points programs that give out points - it should last some time.
I would also say that it makes sense to diversify between different programs - hotels, miles, UR, TYP - there are plenty of opportunities with more than 2x return...
In addition, as it was mentioned, since it's gotten less straight forward than buy VR at OD, load BB, pay, repeat - that extra 1 or 2 steps keeps a lot of newbies out of the game... So, personally, I don't mind that VR were pulled out of OD - the game will last longer
) - and now spread through a number of cards/ banks/ points programs that give out points - it should last some time. I would also say that it makes sense to diversify between different programs - hotels, miles, UR, TYP - there are plenty of opportunities with more than 2x return...
In addition, as it was mentioned, since it's gotten less straight forward than buy VR at OD, load BB, pay, repeat - that extra 1 or 2 steps keeps a lot of newbies out of the game... So, personally, I don't mind that VR were pulled out of OD - the game will last longer
Dec 31, 2012, 7:35 pm
#4839
Join Date: May 2009
Location: South Park, CO
Programs: Tegridy Elite
Posts: 5,678
If no one lost money on sending money in a cycle, then why was OD forced to pull the cards? I believe that Chase clearly put pressure on them because they were handing out tons of points for nothing. Now I know that things aren't exactly the same now that we are only earning 1 point per dollar, but I can't imagine that credit card companies are thrilled to be handing out points for practically nothing.
Dec 31, 2012, 8:07 pm
#4841
Join Date: Aug 2011
Posts: 1,689
really?
I think you should go back to the first 10 pages of this thread and read.
Then if you still have questions, ask again.
BTW, welcome to FT.
EDIT:
Ha! I must laugh at myself. This newbie is new since 2002.
Well anyway, welcome to posting.^
My advice remains the same. Please read and then come back if questions or PM some of the active members within the thread. Many here are willing to help, but familiarizing yourself to recognize your own interest will save others time, if you decide this is not for you.^
I think you should go back to the first 10 pages of this thread and read.
Then if you still have questions, ask again.
BTW, welcome to FT.
EDIT:
Ha! I must laugh at myself. This newbie is new since 2002.
Well anyway, welcome to posting.^
My advice remains the same. Please read and then come back if questions or PM some of the active members within the thread. Many here are willing to help, but familiarizing yourself to recognize your own interest will save others time, if you decide this is not for you.^
Last edited by shoreline; Dec 31, 2012 at 8:42 pm
Dec 31, 2012, 8:32 pm
#4843
Join Date: Sep 2007
Location: Chicago
Programs: AA, BA, CX, DL, EK, F9, GA, HA, IB, JL, KE, LH, MH, NH, OS, PG, QR, RJ, SA, TG, UA, VN, WN, ZH
Posts: 927
Anyone notice the new stock of beans don't have the AMEX logo on the front any more? Commence speculation... :-P
Dec 31, 2012, 9:06 pm
#4844
Join Date: Aug 2011
Posts: 1,689
BB question unrelated to points/miles
I have read through the T&C, but thought I would ask here.
We have a college student that I would like to set up a BB account for ease of $ transfers.
Has anyone done this? I am wondering if I should put the school address on the account (for a different address), just use our home address (this creates 2 accounts at same address) or just set up a sub account in stead of a separate account?
I am wondering because people have reported (AP troubles here and maybe on blogs) of trouble due to sending $ back and forth between spouses. We would not be sending large amounts per month.
I realize BB and AP are not the same program, but I am curious what others have done/experienced regarding college students.
I know it's not against the BB T&C to have multiple accounts within same address for different people, and should not raise red flags, but just curious.
The transfered $ would def. show to be used for daily expenses, restaurants, gas, etc.^
We have a college student that I would like to set up a BB account for ease of $ transfers.
Has anyone done this? I am wondering if I should put the school address on the account (for a different address), just use our home address (this creates 2 accounts at same address) or just set up a sub account in stead of a separate account?
I am wondering because people have reported (AP troubles here and maybe on blogs) of trouble due to sending $ back and forth between spouses. We would not be sending large amounts per month.
I realize BB and AP are not the same program, but I am curious what others have done/experienced regarding college students.
I know it's not against the BB T&C to have multiple accounts within same address for different people, and should not raise red flags, but just curious.
The transfered $ would def. show to be used for daily expenses, restaurants, gas, etc.^
Dec 31, 2012, 9:15 pm
#4845
Join Date: Aug 2011
Posts: 1,689
added info. or this may answer my own question.
We do not nearly hit the $5K monthly limit.
Not that we cannot, but I really don't want to push the limits; so we just pay a few bills that would otherwise not earn points (mortgage, etc).
So the sub account may be the way to go as the college student would def. be using daily expenditures on the card and we just use the billpay service.
thoughts??
We do not nearly hit the $5K monthly limit.
Not that we cannot, but I really don't want to push the limits; so we just pay a few bills that would otherwise not earn points (mortgage, etc).
So the sub account may be the way to go as the college student would def. be using daily expenditures on the card and we just use the billpay service.
thoughts??