Author Topic: PSA: Don't swipe recklessly for others  (Read 233118 times)

Offline AJK

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Re: PSA: Don't swipe recklessly for others
« Reply #2355 on: February 24, 2019, 12:04:41 PM »
15k worth of points every six weeks = $120k a year. Some were doing this over five years. Thatís over $500k profit...
I'd argue the likelihood of someone (let alone many someone's) earning $15K every 6 weeks in this whole scam to be verrrry low.

That's $750K on a 2% cash back card (find me the one that can sustain that velocity) or something like a $1M+ on a BP (depending on rate they sell MR), also something that's unlikely.

And... For the person who thought it was a good idea to non-recourse loan $10M annually, to a person they didn't truly know, for products (or services?) unknown... Yikes.
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Offline AJK

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Re: PSA: Don't swipe recklessly for others
« Reply #2356 on: February 24, 2019, 12:07:49 PM »
Lol. It's cost money to live. Who said he had another job? He made $120k a year, and spent 120 a year. Chances are he isn't stashing 500k.
Not sure how that changes anything... Assuming that math is correct, he still earned 500K+. Whether or not he has that in a savings account or not, doesn't mean he didn't make it.

A person who is out $500K but managed to only earn $10K is much worse off.

Tho in both scenarios, bankruptcy is almost a certainty.
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Offline AJK

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Re: PSA: Don't swipe recklessly for others
« Reply #2357 on: February 24, 2019, 12:10:11 PM »
I know many wealthy that get 2+ points per dollar value by redeeming for full first class

But I know plenty that will sell 500k points at a shot
"full" first class implies revenue. And, no, they're not getting more than 2cpp per point.

The only way to do better is to xfer to airlines, in which case its not revenue.
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Offline zale

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Re: PSA: Don't swipe recklessly for others
« Reply #2358 on: February 24, 2019, 12:30:30 PM »
I've spoken to millionaires and billionaires with big time companies on my last several seminars. They aren't the ones selling points and flooding the market.

I deal with wealthy people on a regular basis (sadly, I am not one of them  :-[)and they rarely use credit cards. Their preferred payment method is either old-fashioned check, cash or ACH.

Offline aygart

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Re: PSA: Don't swipe recklessly for others
« Reply #2359 on: February 24, 2019, 12:49:44 PM »
Yes
Makes much more sense. So the people left with the debt were the victims of the farmers who made a pittance while the farmers destroyed them and made 120k off them.
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Online zh cohen

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Re: PSA: Don't swipe recklessly for others
« Reply #2360 on: February 24, 2019, 01:05:39 PM »
I deal with wealthy people on a regular basis (sadly, I am not one of them  :-[)and they rarely use credit cards. Their preferred payment method is either old-fashioned check, cash or ACH.

What age range?

Offline joey89

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Re: PSA: Don't swipe recklessly for others
« Reply #2361 on: February 24, 2019, 01:22:53 PM »
Makes much more sense. So the people left with the debt were the victims of the farmers who made a pittance while the farmers destroyed them and made 120k off them.
If this is indeed true it is an outrage and the victims should sue in Beis Din and/or a court of law to transfer the liability to the farmers.

Offline mmgfarb

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Re: PSA: Don't swipe recklessly for others
« Reply #2362 on: February 24, 2019, 01:29:55 PM »
If this is indeed true it is an outrage and the victims should sue in Beis Din and/or a court of law to transfer the liability to the farmers.
That's not so simple.
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Offline Chief Rabbi of New York

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Re: PSA: Don't swipe recklessly for others
« Reply #2363 on: February 24, 2019, 01:31:38 PM »
maybe some good is coming out of this
if some people are divorcing their spouse because of money.
maybe its better that it happened this way instead of being married to a gold digger
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Offline mmgfarb

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Re: PSA: Don't swipe recklessly for others
« Reply #2364 on: February 24, 2019, 01:34:24 PM »
maybe some good is coming out of this
if some people are divorcing their spouse because of money.
maybe its better that it happened this way instead of being married to a gold digger
Oy, that's a terrible thing to say.
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Offline joey89

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Re: PSA: Don't swipe recklessly for others
« Reply #2365 on: February 24, 2019, 01:36:59 PM »
That's not so simple.
It should still be explored

Offline Chief Rabbi of New York

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Re: PSA: Don't swipe recklessly for others
« Reply #2366 on: February 24, 2019, 01:37:34 PM »
Oy, that's a terrible thing to say.

better to be married to someone who just wants your money ?
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Offline mmgfarb

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Re: PSA: Don't swipe recklessly for others
« Reply #2367 on: February 24, 2019, 01:37:54 PM »
better to be married to someone who just wants your money ?
Are you insane or just daft?
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Re: PSA: Don't swipe recklessly for others
« Reply #2368 on: February 24, 2019, 01:38:57 PM »
maybe some good is coming out of this
if some people are divorcing their spouse because of money.
maybe its better that it happened this way instead of being married to a gold digger
no offense but that is a horrible thing to say
May you slide down the banister of happiness & get many splinters of success up your career.

Offline joey89

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Re: PSA: Don't swipe recklessly for others
« Reply #2369 on: February 24, 2019, 01:40:00 PM »
maybe some good is coming out of this
if some people are divorcing their spouse because of money.
maybe its better that it happened this way instead of being married to a gold digger
Itís not the money as much as the breach of trust, itís very hard for a spouse to hear that their partner was partaking in risky behavior that they were unaware of and that has left them in hundreds of thousands of dollars of debt. At a minimum it would take a lot of work to rebuild the trust necessary for a healthy marriage based on mutual respect and trust.