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Another Mlife ExpressComp question

Discussion in 'Comps' started by easystreet57, May 13, 2017.

  1. MiamiDave

    MiamiDave Low-Roller

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    Because you can get better return on your spent dollars on other credit cards. Thus, you're giving up higher cashback or equivalent purchasing power credits on better cards out there for what? If you're taking 2x points on gas on the Mlife card and I'm getting 3x points on a better rewards card, then youre only getting tier points to show for it. Otherwise, you're giving away money. This, you're paying for tier points.

    As an example, if my Chase Freedom were giving 5x points on gas this month and I spent $300 on gas, I would earn $15 in cashback. If I spent that same $300 on the Mlife card, I would have earned the equivalent of $10. Thus, I just paid $5 for the tier status points, because that's all I'm getting for that $5 loss in reward equity.
     
  2. nostresshere

    nostresshere Mr. Anti Debit Card

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    I think the point is, that you are spending money and getting tier points instead of cash back - therefore you are using your CASH back to buy points.

    Tier points are generally worth little and in many case - worth nothing.

    Personally, once I reach the sign up bonus of 25-50,000 on a card - I then get another one. I almost laugh at people that have been using the same Southwest card for years trying to earn a trip. That is the LONG way around.
     
    • Agree Agree x 1
  3. Hundley Fan

    Hundley Fan Tourist

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    Thanks for the explanation. I guess I look at it differently. I don't see it as having "paid" $5 for the tier points just because I could get a higher multiplier on another card (that I don't have and don't want to get). I look at it as it's all still gravy. For example, I've had a Sony co-branded Visa for years. I've used the points to get all kinds of Sony products---TVs, an MP3 player, a receiver/amplifier, speakers, blank CDs and DVDs, etc.---at no cost. Most of the points I accrued were at 1X ($1/point), but I get 5X points on Sony product purchases, plus I can use points to pay for the the stuff and get the purchase price credited back to my account.
     
  4. Hundley Fan

    Hundley Fan Tourist

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    But in my case, the tier points are exactly what I want. I converted some of the points to Express Comps and used that to pay for the buffet brunch at Aria for my dad, sister, and myself earlier this month. I can say without a shadow of a doubt that without the Express Comps, we never would have eaten at the buffet, so my having the M life MC made it possible.

    I guess it depends on what kind of c.c. rewards one is looking for. I've had my Sony co-branded Visa card for years, and I keep using it because I use the points to get all kinds of Sony products at no cost. I rarely fly when I travel, so accumulating points on an airline c.c. is of no value to me.