Future of MS
Jun 2, 2014, 7:09 pm
#91
Join Date: Sep 2013
Posts: 829
My May 2014 Europe trip would cost me $10K, but thanks to MS it was totally free. 5 star hotels, airfare, transfers etc.
Not that we didn't spend the REAL $8K on clothes, taxis, restaurants, souvenirs, drinks etc.
But $8K is way better than $18K.
Jun 2, 2014, 7:50 pm
#92
Join Date: Jan 2014
Location: CT
Posts: 50
The tough part of the valuation of those claims is... The made up value of miles and points earned. They are not as simple as pure cash back.
For me personally, I value miles at about 1.5 cents per mile and Amex point as that is realistically what I will get if I have to liquidate them. For those flying in first class, let's take a look. If you can get a 5 cents a mile redemption, terrific, but is it really 5 cents if you were not willing to pay for a first class ticket anyway?
Is 10 hours of wine and dine in a little bit more space worth 5x the price of an Econ or Eco plus ticket? To me.... No. I would gladly spend the $1,000 on airfare and pocket the rest into a savings account. For people who need to travel in first class.... It is a different priority. To me money in the bank is more important than first class for a few hours.
Secondly, living in the north east with a lot of hubs, ticket prices are pretty low to begin with, so redemptions are not great anyway.
So for my family unit, cash is most preferred. Now, as part of our ms game, we generate points, miles, etc, however it is in addition to all the cash earned on the transaction. I would not even dream about swiping my delta or united cards for a regular transaction. Lol. However if I get back 4% cash plus 1 mile... Now we are talking. If you have not figured it out yet... Portals.
To supplement, we do run the Amex cash back cards at grocery stores and other 5% categories. The 2% and lower cash back cards are being only used right now, as long as opportunity is still there, with portals, for a net cash back of 5 to 6.6% cash back.
End of the day, you have to know what your goals are, take inventory of the tools that you have , and implement it. If there is a is a missing tool, get it, but most of all, have goals, stay focused, and do it. Over three months my ms went from low $20k to over $100k. Will likely soon be $2xxk.
Nothing fancy, just a plan.
For me personally, I value miles at about 1.5 cents per mile and Amex point as that is realistically what I will get if I have to liquidate them. For those flying in first class, let's take a look. If you can get a 5 cents a mile redemption, terrific, but is it really 5 cents if you were not willing to pay for a first class ticket anyway?
Is 10 hours of wine and dine in a little bit more space worth 5x the price of an Econ or Eco plus ticket? To me.... No. I would gladly spend the $1,000 on airfare and pocket the rest into a savings account. For people who need to travel in first class.... It is a different priority. To me money in the bank is more important than first class for a few hours.
Secondly, living in the north east with a lot of hubs, ticket prices are pretty low to begin with, so redemptions are not great anyway.
So for my family unit, cash is most preferred. Now, as part of our ms game, we generate points, miles, etc, however it is in addition to all the cash earned on the transaction. I would not even dream about swiping my delta or united cards for a regular transaction. Lol. However if I get back 4% cash plus 1 mile... Now we are talking. If you have not figured it out yet... Portals.
To supplement, we do run the Amex cash back cards at grocery stores and other 5% categories. The 2% and lower cash back cards are being only used right now, as long as opportunity is still there, with portals, for a net cash back of 5 to 6.6% cash back.
End of the day, you have to know what your goals are, take inventory of the tools that you have , and implement it. If there is a is a missing tool, get it, but most of all, have goals, stay focused, and do it. Over three months my ms went from low $20k to over $100k. Will likely soon be $2xxk.
Nothing fancy, just a plan.
Yes, portals are great, along with proper fine tuning in my mix of cards as well as the execution. I know that you have written elsewhere about the leverage of having a legit business in your use of portals currently. Unfortunately, I do not have that luxury. While that limits me, and while I would appreciate any direction you might offer, I do still growth ahead.
Jun 2, 2014, 9:07 pm
#93
Join Date: Sep 2013
Posts: 829
Maybe it deserves a separate thread.
It was not my first trip to Europe, far from it, but it was my first trip when I kept saying to my wife: "Buy whatever you like, let's go eat and drink wherever you like, darling, money is no object".
Last edited by MaineCoon; Jun 2, 2014 at 9:19 pm
Jun 2, 2014, 11:00 pm
#94
Join Date: Sep 2009
Posts: 1,758
The tough part of the valuation of those claims is... The made up value of miles and points earned. They are not as simple as pure cash back.
For me personally, I value miles at about 1.5 cents per mile and Amex point as that is realistically what I will get if I have to liquidate them. For those flying in first class, let's take a look. If you can get a 5 cents a mile redemption, terrific, but is it really 5 cents if you were not willing to pay for a first class ticket anyway?
Is 10 hours of wine and dine in a little bit more space worth 5x the price of an Econ or Eco plus ticket? To me.... No. I would gladly spend the $1,000 on airfare and pocket the rest into a savings account. For people who need to travel in first class.... It is a different priority. To me money in the bank is more important than first class for a few hours.
Secondly, living in the north east with a lot of hubs, ticket prices are pretty low to begin with, so redemptions are not great anyway.
So for my family unit, cash is most preferred. Now, as part of our ms game, we generate points, miles, etc, however it is in addition to all the cash earned on the transaction. I would not even dream about swiping my delta or united cards for a regular transaction. Lol. However if I get back 4% cash plus 1 mile... Now we are talking. If you have not figured it out yet... Portals.
To supplement, we do run the Amex cash back cards at grocery stores and other 5% categories. The 2% and lower cash back cards are being only used right now, as long as opportunity is still there, with portals, for a net cash back of 5 to 6.6% cash back.
End of the day, you have to know what your goals are, take inventory of the tools that you have , and implement it. If there is a is a missing tool, get it, but most of all, have goals, stay focused, and do it. Over three months my ms went from low $20k to over $100k. Will likely soon be $2xxk.
Nothing fancy, just a plan.
For me personally, I value miles at about 1.5 cents per mile and Amex point as that is realistically what I will get if I have to liquidate them. For those flying in first class, let's take a look. If you can get a 5 cents a mile redemption, terrific, but is it really 5 cents if you were not willing to pay for a first class ticket anyway?
Is 10 hours of wine and dine in a little bit more space worth 5x the price of an Econ or Eco plus ticket? To me.... No. I would gladly spend the $1,000 on airfare and pocket the rest into a savings account. For people who need to travel in first class.... It is a different priority. To me money in the bank is more important than first class for a few hours.
Secondly, living in the north east with a lot of hubs, ticket prices are pretty low to begin with, so redemptions are not great anyway.
So for my family unit, cash is most preferred. Now, as part of our ms game, we generate points, miles, etc, however it is in addition to all the cash earned on the transaction. I would not even dream about swiping my delta or united cards for a regular transaction. Lol. However if I get back 4% cash plus 1 mile... Now we are talking. If you have not figured it out yet... Portals.
To supplement, we do run the Amex cash back cards at grocery stores and other 5% categories. The 2% and lower cash back cards are being only used right now, as long as opportunity is still there, with portals, for a net cash back of 5 to 6.6% cash back.
End of the day, you have to know what your goals are, take inventory of the tools that you have , and implement it. If there is a is a missing tool, get it, but most of all, have goals, stay focused, and do it. Over three months my ms went from low $20k to over $100k. Will likely soon be $2xxk.
Nothing fancy, just a plan.
Jun 3, 2014, 10:11 am
#95
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
Jun 3, 2014, 11:05 am
#96
Join Date: Aug 2013
Location: Phoenix, AZ
Programs: US/AA, UA, AS, BA, IHG, HGP
Posts: 223
The opportunity cost doesn't always make this viable from my perspective. With that said, there is still the opportunity to buy Lifemiles during bonuses for *A awards via Arrival & reimburse that way. Pretty much the only one I'd consider buying miles with, as I'd rather INK miles if my intention was to translate CB -> miles
Jul 31, 2014, 9:31 pm
#98
In memoriam
Join Date: Jan 2006
Posts: 4,020
Just About Over--Manufactured Spend?
New York Times tonight posted a feature about coming changes in Green Dot and other prepaid cards due to fraud, use in drug dealing and government pressure which, it appears, may well have serious effects on MS. http://dealbook.nytimes.com/2014/07/...fraud-schemes/ This story will appear in the August 1, 2014 paper edition.
MoneyPak, a Popular Prepaid Money Card, Opens Path to Fraud Schemes
"Federal authorities are sounding alarms about a wide range of fraudulent schemes involving a popular prepaid money card product.
Thousands of consumers have been lured into sending money through the card, called MoneyPak. For online fraudsters, the reusable green-and-white paper card that can be used to quickly “reload,” or transfer, hundreds of dollars in cash onto another prepaid card is often the money conduit of choice, regulators and law enforcement officials say.
The abuses are mounting as the market in prepaid cards is increasingly finding favor with Americans who don’t have access to a traditional bank account or credit card. ..."
What do you think.
MoneyPak, a Popular Prepaid Money Card, Opens Path to Fraud Schemes
"Federal authorities are sounding alarms about a wide range of fraudulent schemes involving a popular prepaid money card product.
Thousands of consumers have been lured into sending money through the card, called MoneyPak. For online fraudsters, the reusable green-and-white paper card that can be used to quickly “reload,” or transfer, hundreds of dollars in cash onto another prepaid card is often the money conduit of choice, regulators and law enforcement officials say.
The abuses are mounting as the market in prepaid cards is increasingly finding favor with Americans who don’t have access to a traditional bank account or credit card. ..."
What do you think.
Jul 31, 2014, 9:41 pm
#100
Join Date: Nov 2013
Location: Sacramento, CA
Posts: 437
I think GD MP could be greatly improved if they would simply put more wording on their products warning of fraud.
Like put a sticker over the scratch area with something like "Do not send this code to anyone over the phone, unless you know them. It's likely fraud."
Like put a sticker over the scratch area with something like "Do not send this code to anyone over the phone, unless you know them. It's likely fraud."
Jul 31, 2014, 9:42 pm
#101
Join Date: Jun 2014
Location: Pensacola
Programs: AAdvantage, BAEC
Posts: 17
So long as you can buy VL GCs with pin functionality, the vast majority of frequently used avenues for MS will continue to operate properly. Now, if for some reason, the GCs that are used no longer had pin functionality...that would be a serious problem. People would have to start getting really creative.
Jul 31, 2014, 10:08 pm
#102
Join Date: Oct 2006
Location: DTW
Programs: AA EXP, DL FO
Posts: 1,719
I think with any scheme involving the exploitation of market inefficiencies will slowly decline in profitability over time.
We've seen the decline in the FF mile and program opportunities over time. Mileage running used yield tremendous benefits and now rarely does and almost never at the same profit level.
The golden era of manufactured spend is probably past us and newer opportunities are less profitable, with more restrictions, and have a shorter lifespan.
We saw the same thing with the 0% credit card money back in 2006-2008 that could be used for a year earning 5% in savings accounts.
We've seen the decline in the FF mile and program opportunities over time. Mileage running used yield tremendous benefits and now rarely does and almost never at the same profit level.
The golden era of manufactured spend is probably past us and newer opportunities are less profitable, with more restrictions, and have a shorter lifespan.
We saw the same thing with the 0% credit card money back in 2006-2008 that could be used for a year earning 5% in savings accounts.
Jul 31, 2014, 10:30 pm
#103
Suspended
Join Date: May 2014
Location: ILG/PHL
Programs: Amex Plat, AA Gold, SPG Gold, Hyatt Gold, HHonors Gold, Carlson Gold
Posts: 1,075
My local CVS actually has signs posted above the MPs saying exactly this.
Jul 31, 2014, 11:05 pm
#104
Join Date: Sep 2012
Location: LAX
Programs: AA EXP, HH Diamond
Posts: 295
IMO they're referring to something entirely different, one group specifically are the fraudsters on Instagram who claim they can "flip your money" for you and "turn $100 to $1000, $200 to $2000, etc." They post pictures of themselves with large stacks of cash, designer name goods, etc. to entice people and use secondary/tertiary accounts to thank the original poster for their help, seemingly confirming the legitimacy of things.
Search "instagram money flip" on Google and you'll see a whole host of results. This has been going on for a long time now, with VRs, GDs, and any other reloadable prepaid card that you can liquidate with the PIN.
Search "instagram money flip" on Google and you'll see a whole host of results. This has been going on for a long time now, with VRs, GDs, and any other reloadable prepaid card that you can liquidate with the PIN.
Aug 1, 2014, 12:25 am
#105
Join Date: Nov 2013
Posts: 16
Instead of get all upset about bloggers, I think most MSers should be really worried about fraudsters out there. Fraud is the No.1 existential threat to MS, period. And yet, people generally just ignore about it or pretending it's not an issue.