<img src = "https://media.npr.org/assets/img/2019/02/22/_dsc0115_sq-6c9ec4c795fd29725058951e0dac5018dd1b2730-s100-c15.jpg" data-original = "https: //media.npr .org / assets / img / 2019/02/22 / _dsc0115_sq-6c9ec4c795fd29725058951e0dac5018dd1b2730-s100.jpg "class =" img lazyOnLoad "alt =" While the payments are being socialized with Venmo, they are changing the personal relationships opened a credit card and immediately bought Amazon gift cards worth $ 3,000 – just to qualify for the sign-up bonus Another person filled his garage with blenders to take advantage of a special promotion that offered extra points for equipment even tried to enroll his newborn in a frequent flyer program, only to find out that the minimum mileage for earning miles is two years.
And they are not alone, according to the Consumer Financial Protection Bureau, nearly 90 percent of them went last year Expenditure on credit cards in bonus cards. As points and miles become more popular, websites such as Million Mile Secrets, Upgraded Points, and The Points Guy have become more popular, allowing savvy consumers to find inventive ways to maximize miles and points.
In the meantime, card issuers have been pushing for rewards in an effort to trick clients into lending and spending more. For point affectionados like Lintz, this is just another way to beat credit card companies in their own game.
"I even earn money by paying my taxes," she said.
Janice Lintz, a consultant for audibility and travel bloggers, on a recent trip to Easter Island. Credit card points helped her travel to 135 countries.
Janice S. Lintz
Janice S. Lintz
Janice Lintz, consultant for the hearing-impaired and travel blogger, on a recent trip to Easter Island. Credit card points have made her travel to 135 countries easier.
Janice S. Lintz
Points can open the door to extraordinary experiences for those with time and discipline. However, a survey found that nearly 60% of premium cardholders do not pay their credit every month. This statistic upsets personal finance experts because credit card rates are at a 25-year high.
Ron Strobel, a certified financial planner, said customers were visiting him all the time, excited about all the points they receive with new credit cards.
"They will even pull this card out and show me how they boast about it," Strobel said. "They focus so much on the reward aspect that in my opinion, they often only look beyond the potential disadvantage."
Many of these clients are only making debt, fueled by the small shot of dopamine they get every time they earn a point.
That's what happened to JD Malone. He and his wife entered a bonus program several years ago after opening a Costco cashback card.
"That changed the way we spent money," he said.
For example, instead of buying $ 2,000, they opted for a $ 3,000 couch, mainly because of the excitement of getting more money back from their purchase.
"The idea that I would get money back made it easier to use the card," he said.  When they received their year-end statistics, they found that they had debited more than $ 40,000 from their Costco card. And for all that, they got back about $ 600.
"It was painful, I mean, to be honest, it was disgusting," Malone said. "We thought: That must change."
Malone and his wife attended financial education courses. They cut off about 18 credit cards. And they spend much less money. But they kept the Costco card. Only for emergencies, they said.