Archive for the ‘Not Gangster at All’ Category

Apparently people will not shut the fuck up about American Express offering Facebook Advertisement Credits as a redemption option. “Oh glory be to Jeebus! I have a lot of points- I’m gonna get me so many FB Ad Credits!”

No. There’s a reason you shouldn’t be doing this. It seems obvious to me but as it turns out, everyone is a fucking idiot that doesn’t understand elementary math.

The industry standard for earning points with most credit cards is $1 Spent = 1 Point. So for the sake of clarity, you spent $10,000 in a month to earn 10,000 points.

Now where the credit card companies get you is with the Redemption Options. They say it’s effectively “1% Cash Back on All Purchases,” but that’s not necessarily true. In the example of Amex Facebook Advertisement Credits redemption, it’s 6,750 Points to earn $50. If it was 1% Cash Back, then that $50 should only cost 5,000 points.

If this Excel spreadsheet above I made is any accurate, you’re losing about 26% of your points because you’re stupid. From my own point redemption adventures, the “sweet spot” for getting an actual 1% return seems to be around 25,000 = $250. My credit card (Visa from BoA) has tiers. So the more you redeem, the less fucked you get. Amex does not do this. You pay 6,750 per $50 no matter how much you buy. $250 in Facebook Credits will cost you 33,750 points! Fuck that!

Granted, I’m arguing over a few measly dollars here. But when you spend 5-6 figures a month on advertising, it adds up. Plus, I hate giving credit card companies any more money then deserve. The average person gets fucked by their credit card company because they think they deserve the American Dream! Can’t afford it? Charge that fucker!

An intelligent individual gets paid 1% to use a credit card by never carrying a balance, and using rewards points wisely. Stupid people pay their credit card companies god knows what xx% because like to buy shit they can’t pay for.

Also, I do have an old Amex account so I logged into it to see all the redemption options. They fucking suck! The only gift cards I see are for Zynga games. My Visa lets me redeem almost anything: Best Buy Gift Cards, Regular Gift Cards (although its tough to find the 1% return ones), and a whole lot of other shit. Really Amex users? Zynga is your only option? (I’ve never dealt with travel and miles and stuff, so that’s a whole different story)

First, she killed the Beatles. And the other night, she kills music.