AARP card

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
13 posts
kdm31091
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Re: AARP card

Postby kdm31091 » Wed Dec 09, 2015 7:52 am

yfan wrote:
Vattené wrote:It's actually sad to see how penny wise and pound foolish it gets. There are people that don't consider the larger financial picture, yet use rewards rates to convince themselves that they're being very logical and financially savvy. It's easy to dine out and earn 3%, and it makes for a convenient excuse to do something that you already want to do. It takes an ounce of discipline, but you're much better off cutting back even a little on the spending in the first place.

Oh it's insane. It's justifying a $100 spend to earn a $3 reward. Well, ya still spent 97 bucks! Cook at home for a day or heck, just forego ordering the diet coke. You have all the saving right there and more.


And see that is the worst part. When you break it down, it's $3 for every $100. I don't know about you, but I consider $100 a lot of money. Not necessarily in terms of a bonus (where $100 doesn't feel like much), but in terms of spending especially on eating out. So even if you spend that or more every week, $3-5 a week in rewards is just...not a lot of money. You can find many ways to recoup $3-5 a week without running up credit card charges.

To each their own. There's just a point where you have to step back and really analyze how much you are getting out of it. The answer is sometimes "not as much as it seems!". I've found it's better to concentrate the majority of my spending on one or two cards. Yes, sometimes I may miss out on an extra 1% here or there, but if you spread your spend too much, you never get anything useful anyway.


takeshi
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Re: AARP card

Postby takeshi » Wed Dec 09, 2015 8:02 am

kdm31091 wrote:Can someone please explain the love and hype over this card? I see it over and over and...just not getting it.

Never rely on hype. If you don't get X then move on to the next thing.

kdm31091 wrote:So an extra 1% on dining is really worth the HP and AAOA ding? Am I missing something?

Worth is always highly subjective. An HP and impact to AAoA can be significant, negligible or anywhere in between. Not everyone has cards that cover the categories that you mention. The HP and AAoA impact wouldn't really matter to me even though they would have a small impact to my credit profile. However, 1% probably wouldn't be worth it to me but you also have to consider your sources. There are plenty that get all worked up over 1% who don't have enough spend to make 1% a significant amount of dollars. There are also countless people that can't be bothered to do the math even if it is simple and straightforward in a case like this.

If you've done your due diligence and determined that it doesn't matter to you then why are you spending so much attention on this? Another rant? ;)

kdm31091
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Re: AARP card

Postby kdm31091 » Wed Dec 09, 2015 8:10 am

takeshi wrote:
kdm31091 wrote:Can someone please explain the love and hype over this card? I see it over and over and...just not getting it.

Never rely on hype. If you don't get X then move on to the next thing.

kdm31091 wrote:So an extra 1% on dining is really worth the HP and AAOA ding? Am I missing something?

Worth is always highly subjective. An HP and impact to AAoA can be significant, negligible or anywhere in between. Not everyone has cards that cover the categories that you mention. The HP and AAoA impact wouldn't really matter to me even though they would have a small impact to my credit profile. However, 1% probably wouldn't be worth it to me but you also have to consider your sources. There are plenty that get all worked up over 1% who don't have enough spend to make 1% a significant amount of dollars. There are also countless people that can't be bothered to do the math even if it is simple and straightforward in a case like this.

If you've done your due diligence and determined that it doesn't matter to you then why are you spending so much attention on this? Another rant? ;)


Yeah, just ranting. Saying all the things I get yelled at for saying on myfico, where not going after that 1% and carrying an AARP card at 24 is considered ridiculous/stupid/not maximizing rewards etc.



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