The Underwhelming Math Behind Credit Card Points

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 17 February 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel, Kristina Ellis, & Jade Warshaw. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:10.9	Carl is kicking us, kicking us off in Washington, D.C. Carl, welcome to the show. How you doing?
0:16.4	I'm doing great. Thank you. Awesome. How can we help today?
0:19.3	Well, I have a question. I'm working on
0:21.3	paying off my house right now, and one of the things I was considering doing, I have on my credit
0:27.9	card a little bit over $2 million, so somewhere around $23,000 that I could get cash.
0:34.4	Whoa.
0:35.0	They could send you a check. So I was thinking about, yeah, I was thinking about cashing that in and then putting that
0:41.2	to the principal in my house.
0:42.5	So, you know, what do you guys think about that?
0:45.2	I think it's a great plan.
0:46.9	I mean, if you already have the points, what did it take you to get two million points?
0:50.1	I'm just curious.
0:51.2	Well, it took me a long time. Is this a lifetime of credit card spending to get two million points?
0:56.0	Probably about, I don't know, 15 years or something like that.
1:01.0	Wow.
1:02.0	Oh, do you have any debt right now other than the house?
1:05.0	Uh, not really.
1:07.0	Not really.
1:08.0	Uh-oh.
1:09.0	What do you mean, not really, Carl?
1:10.0	You can't leave us hanging like that.
	...

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