Author Topic: PSA: Don't swipe recklessly for others  (Read 214651 times)

Offline Mordyk

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: May 2013
  • Posts: 2739
  • Total likes: 149
  • DansDeals.com Hat Tips 2
  • Gender: Male
    • View Profile
  • Programs: Hilton Diamond, SPG Gold and whatever
Re: PSA: Don't swipe recklessly for others
« Reply #3105 on: March 05, 2019, 09:06:15 PM »
Seems some posts we're deleted. Who is interviewing Dan?
Was broken off to other threads

Offline Denverite

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: May 2015
  • Posts: 1796
  • Total likes: 146
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: Denver
Re: PSA: Don't swipe recklessly for others
« Reply #3106 on: March 05, 2019, 09:28:49 PM »
Seems some posts we're deleted. Who is interviewing Dan?

Here you go:

Dovid Lichtenstein.  www.headlineshalacha.com

According to the ad in Mishpacha (just a few pages away from the Rabbinically approved ad for SellMyMilesNow.com..."trade in your miles for cash to get all those luxuries you've been dreaming of!") he has the "Most listened to Torah Program in the World." The ad says "Headlines Radio Show: Tackling Fascinating Modern Controversies From a Halachic Perspective."  It says you can also listen on Yeshiva World News and that he's got both Android and IOS aps.
« Last Edit: March 05, 2019, 09:32:20 PM by Denverite »

Offline knowitall

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Dec 2013
  • Posts: 576
  • Total likes: 27
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: 08701
Re: PSA: Don't swipe recklessly for others
« Reply #3107 on: March 05, 2019, 10:05:11 PM »
Iím not sure if Dan wants to discuss it on headlines or not, but people tend to bunch everything together and consider everything shady/shtick/scam/illegal. Sterling, farmers, buying groups, coin deals, MS,  a guy who opens a credit card for his Bro in law, a bochur who opens a cc and goes on a spending spree, and the regular family that has one 2% cashback Card thatís paid in full every month are all lumped together and before you know it, the entire Dansdeals is a scam.

Thereís nothing illegitimate about chasing signup bonuses and paying off your balances in full on time.
/my 2 cents

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 52532
  • Total likes: 2111
  • DansDeals.com Hat Tips 16441
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA Global Services, AA Lifetime Plat, DL Dirt, SPG Plat, Hyatt Diamond, Fairmont Lifetime Plat, Hilton Diamond, Priority Club Plat, Avis Chairman, National EE, Hertz PC
Re: PSA: Don't swipe recklessly for others
« Reply #3108 on: March 05, 2019, 10:19:14 PM »
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline mmgfarb

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2015
  • Posts: 7346
  • Total likes: 582
  • DansDeals.com Hat Tips 3
    • View Profile
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 52532
  • Total likes: 2111
  • DansDeals.com Hat Tips 16441
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA Global Services, AA Lifetime Plat, DL Dirt, SPG Plat, Hyatt Diamond, Fairmont Lifetime Plat, Hilton Diamond, Priority Club Plat, Avis Chairman, National EE, Hertz PC
Re: PSA: Don't swipe recklessly for others
« Reply #3110 on: March 05, 2019, 10:38:06 PM »
Lol
Not even intentional, that's the only picture @Something Fishy took from both seminars :D
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline 12HRS

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jun 2013
  • Posts: 4522
  • Total likes: 217
  • DansDeals.com Hat Tips 6
    • View Profile
Re: PSA: Don't swipe recklessly for others
« Reply #3111 on: March 05, 2019, 11:13:06 PM »
Lol, just noticed the first line of the slide from the DDS on the cruise: https://www.dansdeals.com/points-travel/trip-notes/antarctica-trip-notes-part-4-packing-list-journey-south-southernmost-shabbos/

Kind of surprised you needed that in for a group on the Antarctica cruise.

Offline Eliyohu

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Oct 2015
  • Posts: 849
  • Total likes: 60
  • DansDeals.com Hat Tips 2
    • View Profile
Re: PSA: Don't swipe recklessly for others
« Reply #3112 on: March 05, 2019, 11:16:07 PM »

He's notorious for post interview edits.. don't think you would care much...

The full interview is always available in the "maareh mikomos" section. But never the less worth it to keep it in mind.




Offline 12HRS

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jun 2013
  • Posts: 4522
  • Total likes: 217
  • DansDeals.com Hat Tips 6
    • View Profile
Re: PSA: Don't swipe recklessly for others
« Reply #3113 on: March 05, 2019, 11:17:14 PM »
Please anyone feel free to address my actual question regarding whether the average cardholder that you know or yourself (obviously each individual case is different) actually had a net loss, after accounting for both recent unpaid bills and the value of points they received the whole time they were allowing their cards to be swiped. 

Even if you are correct they still would not be able to handle a $200k loss in one shot. 99% of people would have either worked the extra $ into their budget or blown it on something.

Math would be relatively simple its the data you need but assuming a straight 2% return every time their card was swiped for 200k would mean a $4k gain. now you just need to know how many times it was swiped and paid back before defaulting.

12months x $4k = $48k so if they were doing it monthly would take just over 4 years of this volume with a 2% return. (which is unlikely most were doing that volume on a 2% card IMO)



Oy this is the only hot thread on DDF and Iím totally not involved... :-\ :-\

Consider it a ברכה


According to the ad in Mishpacha (just a few pages away from the Rabbinically approved ad for SellMyMilesNow.com..."trade in your miles for cash to get all those luxuries you've been dreaming of!")

This is the same rabbinical board that approves an advertisement with a picture of sufganiyot and the tagline "Its ok to lose control"  ::)

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 52532
  • Total likes: 2111
  • DansDeals.com Hat Tips 16441
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA Global Services, AA Lifetime Plat, DL Dirt, SPG Plat, Hyatt Diamond, Fairmont Lifetime Plat, Hilton Diamond, Priority Club Plat, Avis Chairman, National EE, Hertz PC
Re: PSA: Don't swipe recklessly for others
« Reply #3114 on: March 05, 2019, 11:24:05 PM »
Kind of surprised you needed that in for a group on the Antarctica cruise.
For all the raffle winners :D
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline chff

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jul 2012
  • Posts: 4256
  • Total likes: 106
  • DansDeals.com Hat Tips 9
  • Gender: Male
    • View Profile
  • Location: NYC
  • Programs: All of them...
Re: PSA: Don't swipe recklessly for others
« Reply #3115 on: March 05, 2019, 11:24:43 PM »
Not even intentional, that's the only picture @Something Fishy took from both seminars :D

Here is a better one

Offline Eliyohu

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Oct 2015
  • Posts: 849
  • Total likes: 60
  • DansDeals.com Hat Tips 2
    • View Profile
Re: PSA: Don't swipe recklessly for others
« Reply #3116 on: March 05, 2019, 11:27:29 PM »
I'm going to be interviewed by him tomorrow.
What topics should I bring up?
There's a misconception/lie/fabrication going around that this whole thing is somehow squarely on your shoulders for creating this idea and promoting a concept of recklessly opening credit cards for points and live a carefree lifestyle and just accumulating debt.. some go further to even claim you somehow promoted Sterling..

This is clearly coming from people who haven't the slightest clue to what they're talking about or what your about. Nor did they bother to even read or ask someone about it... Non the less this is being perpetuated and peddled if you want to dispell the notion use every pulpit you got...

Offline Yard sale

  • Dansdeals Silver Elite
  • **
  • Join Date: Jun 2018
  • Posts: 73
  • Total likes: 31
  • DansDeals.com Hat Tips 0
    • View Profile
Re: PSA: Don't swipe recklessly for others
« Reply #3117 on: March 05, 2019, 11:28:42 PM »
Even if you are correct they still would not be able to handle a $200k loss in one shot. 99% of people would have either worked the extra $ into their budget or blown it on something.

Math would be relatively simple its the data you need but assuming a straight 2% return every time their card was swiped for 200k would mean a $4k gain. now you just need to know how many times it was swiped and paid back before defaulting.

12months x $4k = $48k so if they were doing it monthly would take just over 4 years of this volume with a 2% return. (which is unlikely most were doing that volume on a 2% card IMO)



Consider it a ברכה

This is the same rabbinical board that approves an advertisement with a picture of sufganiyot and the tagline "Its ok to lose control"  ::)

The rabbinical rubber stamp board. The one that allowed the feature article on vegan currency that decried the cruelty of eating animal flesh....

Offline elimmm

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Apr 2015
  • Posts: 408
  • Total likes: 19
  • DansDeals.com Hat Tips 0
    • View Profile
Re: PSA: Don't swipe recklessly for others
« Reply #3118 on: March 05, 2019, 11:50:42 PM »
I'm going to be interviewed by him tomorrow.
What topics should I bring up?
Be sure to record it yourself in case of edits!!!
Also, he will prob have the attitude of m many wealthy people that credit card churning is for poor uneducated people and that it's just a way to take advantage of credit card companies. His undertones are very loud. Since he runs the show, the only way you can outshout him is by quoting real numbers and facts and citing sources. You can't just tell him "the credit card companies want people to sign up because most people....."
Also, he'll def challenge you on going against T&c by selling points.
You'll prob want to explain how the banks strong-arm the cardholders when they are in the mood, how they shut down and steal hard-earned points at their discretion. Also, the way they devaluate points and how points don't have legal cash value.
Lastly, tell him not to compare the Amazon tragedy to 9/11. And don't forget to talk about wealthy people declaring bankruptcy to save their assests. Ask him if that's also against his ethics.

Offline rileywiles23

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2014
  • Posts: 5176
  • Total likes: 48
  • DansDeals.com Hat Tips 5
  • Gender: Male
    • View Profile
Re: PSA: Don't swipe recklessly for others
« Reply #3119 on: March 06, 2019, 12:02:50 AM »
The cc issuer is not the processing bank?

If you get a card from Chase, Chase doesnít process the payment?
Correct.

It's a third party bank that processes the transaction to get the money to the merchant.

Here is a good article explaining it

https://www.vantiv.com/payment-processing/how-credit-card-processing-works
Life is as good as you make it...