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Video: Some Hard Truths on Miles & Points Ricky December 7, 2019

Video: Some Hard Truths on Miles & Points

It’s easy to get drawn into the exciting possibilities of Miles & Points, but there are a few hard truths about the credit card game that I think everyone should know.

From the financial literacy required to understand what you’re getting into with all the credit cards, to the time and energy you must spend learning the ropes, to the flexibility that’s required in booking a trip on points, you gotta remember that this stuff doesn’t come easy!

(I’ve written a similar article on this in the past, and this video builds upon the article with a few more fleshed-out thoughts.)

Without further ado, you can watch the video here:

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Also, be sure to let me know if you enjoyed this new conversational style of video, and what other topics you might like me to cover in future videos where I simply sit down and chat with you at length about something.

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5 Comments
  1. Avatar
    Jerry

    Good post Ricky, stuff you don’t see on BoardingArea or TPG, LOL, since they gotta sell this "superficial game"

    I’ve made peace with my points – using them to take family to see the world, visit family yearly, in ECONOMY!!
    extra ones are worth $ I can use to book other stuff and that’s okay too

    1. Avatar
      Ricky

      Haha, I gotta sell the superficial game too – I just think we’d all be better off if only those of us who truly want to play the game, despite knowing all the potential downsides, ended up playing it!

  2. Avatar
    Fernand

    Good vid. A few points :

    *I think you underestimate how many “intermediate” readers you have. For many of us, time off-finances-family limit our ability (or want) to become “elite masters”.

    *Many of us have families. Sure, my gf & I could be on Biz once or twice every year. But I’ve been flying six of us to Europe yearly and showing those 4 kids the world is much more rewarding than salmon. (Though 2020 we are looking to bring 6 people in Biz for the first time)

    *A topic overlooked : the referral conundrum. How do you identify which family member / friend will be receptive and which of them will accuse you of being a pyramid schemer ? You WANT to show them the way, but you don’t want to alienate.

    *You could also have touched on the aggravations of devaluations (always earn n burn) and YMMV (why won’t AMeX give me my bonus this time !?!?!).

    Keep up the great work.

    1. Avatar
      Eric

      Fernand,
      I couldn’t have said it better myself.

    2. Avatar
      Ricky

      All great points, which could well inspire a Part 2 in the future. Perhaps the ultimate hard truth lies in just how many hard truths there really are.

      I think your priorities absolutely lie in the right place with respect to bringing the family in economy vs. enjoying luxuries without the family in tow. As you’ve discovered here, even though you aren’t aiming to become an "elite master", there’s always a next step you can take, or a further goal to achieve – in this case booking the family of six all in business. All the best in achieving this!

Ricky

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