Sunday, June 9, 2024

i am team cashback as a mile-llionaire

i saw the podcast with milelion and sethisfy

disclaimer: i have millions of miles

yes, millions


you can slowly work backwards to calculate what has been my credit card spending

i actually disagree with milelion and think that sethisfy is logically correct, but logistically wrong with his argument

btw i love milelion and i am a faithful reader

seth's solution of "multiplayer" using partner and family members to sign up for additional cards to increase your cashback cap is so.... low-class LOL and probably against T&C and intended use, but the biggest drawback is that the cashback amount is always capped and so low

(read my post about being limitless )

miles card have a higher spending cap since there are so many miles cards that you can overflow your various spending into, to constantly hit 4 mpd

is managing the point validity and redemption chunks of miles across various banks and cards (some points dont pool) really that much easier than the typically more restrictive spending categories for cashback? i think, slightly only

i do not use 4mpd cards, because i am too lazy to care about tracking my spending

small brain problem, but it is okay, i compensate by just being rich

milelion's only good point is that life is short, so you should enjoy it. to fly biz class is a novel experience, and if it within your means, should be something you try at least once, and i agree

seth also argees, and i think his point that if after that, biz class is your new baseline, then it is indeed setting yourself up for unhappiness and financial failure through lifestyle inflation

(LOL at them calling budget babe middle class babe instead)

if you know that after flying biz class, you will never want to fly economy again, is that not admission that after your first biz class flight, you have now permanently upsized your cost of travel? 

the most important point that was not conveyed well is that cashback is cash that can be used for anything and it is typically upfront

while miles are restricted to travel flights, subject to potential expiry and devaluation, and NOT EVERYONE LIKES TO TRAVEL

personally, i am team cashback

but because i travel so often and i was going to buy biz class tickets with cash anyway, i might as well use miles to drastically lower my cost of flying

possible future follow up post about my thinking about miles in future blog

for people not into traveling, you are probably better off with cashback

tracking spending categories and limits and merchant mcc and all that nonsense is WORK to me

if you dont mind doing WORK in exchange for money (miles), then you should go ahead and optimize

if you prefer not to care so much and live life with less stress, simple high cap / uncapped cashback cards

examples are dcs 2% up to 10k or any of the general spend 1.4-1.6mpd cash or straight 1.5/1.6% cashback cards

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