The Biggest DANGER in the Credit Card Game in 2021



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Hey credit warriors, welcome to the show and today I want to talk about the biggest risk out there right now for those playing the credit card travel hacking game, i.e. collecting credit card points to exchange for luxury travel experiences, like all inclusive resorts, business class flights.

So right now there are a lot of points and miles out there hoarded up in people’s accounts, this is for a few reasons, number one, which is most obvious, people didn’t do a lot of travelling last year with most of the world shut down and restrictions on international travel in place.

Two airlines and hotels turned to selling points and miles to individuals and to banks in order to raise cash to make it through the pandemic. Notably Hilton sold one billion dollars worth of points to American Express last year and other companies made similar moves. We have also seen sales of points to the public with bonuses of up to 100%, many of these deals are only ending now or in the next few months.

And three, as restrictions started easing at the beginning of 2021, card companies started going after new customers with very generous welcome bonuses. Like 100k points on the Capital One Venture, 80k points on the Chase Sapphire Preferred and bonuses of 75 to 100k on various Amex cards. Basically they were using those points they bought in 2020 to entice new members in 2021.

So there are a lot of points out there and this could be a big headache for hotels and airlines, especially for airlines, since hotel chains often don’t own the properties they just manage them, so they were less hard hit than airlines during the pandemic. Delta, for example, posted a $12 billion loss for 2021.

So these airlines and hotels are faced with the dilemma that they have put all these extra points out into the economy and at some point, some point coming quite soon, they will have to honor them for passengers to book flights and rooms. What might they do to make it less of a burden for themselves? Well that is our biggest risk in the credit card game in 2021, devaluations!

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41 comments

  1. The Credit Shifu

    CORRECTION: Sorry guys for the stock market training, I got the times the wrong way around, it is 5pm Pacific and 8pm Eastern. my bad

  2. David Geldberg

    Dropping the Credit Shifu name? Its gone from the Intro?

  3. Biggest danger in life is listening to fairies that sold their soul to the devil/33/We

  4. Seriously great information!! 😎😎

  5. The square den morally blind because quiver hypothetically attach about a icy tower. equable, merciful trail

  6. Bit conneeeeeeeeeeeeccccct is by far my favorite meme lol

  7. As much as I would love to join, unfortunately, I don't think I'll be available in 3021.

  8. The biggest danger in the credit card game is thinking it’s a game.

  9. Jason Rodriguez

    If you get a secure credit card and your credit line is $300 can you spend $250 and pay it back end of the month is that good

  10. Trevor Forbes

    Starting to see it lol! The Waldorf I stay at in key west is wanting crazy a amount of points for a room. 439,000 points a night or $1223.00 night. That’s .002 cents a point. That same room price same weekend pre COVID was $400 and I think .006 a point .… I mean what’s the point of transferring amx points to Hilton… I can still get .006 on the amx travel although the room rate is still crazy high so.
    Plus as the keys started opening I took my gf down. My stats from my platinum card did nothing. Basically everyone staying there had the same stats lol. They had big stacks welcome envelopes. Literally everyone staying there had gold stats !

    Is it hard to transfer your platinum card to one of Charles Schwab versions?????

  11. Bryan Shealy

    The financial education channel is literally the worst youtuber of all time with the worst advice.

  12. Elizabeth Williams

    I was surprised when I got money from antezhack on !G now I can pay up my bills live up to my Standards They helped me and my family

  13. Clinton Stumpf

    Injecting almost 6 trillion in the economy, the result is inflation, for devaluation of points always follow.

  14. Christopher Walken

    Thanks for removing the weird techno music at the end.

  15. Marques Curington-Harris

    3021?? Sheesh… I don't think I'll make that 🤣

  16. bro love the channel, but you gotta work on the levels between the sound of video and sound of music

  17. Can you explain how you use the scwab cash out to purchase crypto?
    Good video!

  18. Yesterday's Tomatoes

    I can’t trust anyone who plans 1000 years in the future…

  19. Could you do a video on how to transferring points to Airlines and Hotels for both Chase and AMEX? Would be nice since a lot of airlines have partner airlines.

  20. CASH BACK!!!!

  21. shaliga Suksomsong

    thanks for your useful info as always. I just got into the points game because of all these crazy sign up bonuses and now they may not be worth much * welp

  22. Michael Swaim

    Not sure where I will be in 3021, so not sure I can sign up for Jeremy’s class 100 years and 6 days in advance.

  23. I definitely understand your point about the devaluation of the points. However, I see them as the stock or crypto market. Yes, they can be devalued now, but they can also raise the value in the future. Point is, don’t panic sell. Thanks for the content

  24. Jonathan Factor

    I have been using my united exployer card because I have over 4000 miles on the airline.

  25. I beat Casey Burns to commenting.

  26. Book Hilton Resorts World in Vegas!

  27. Juan Ageitos

    So basically inflation but now for points and miles

  28. Anonymous Hippopotamus

    Delta screwed us last year by increasing the amount of miles needed for international partners. Boo!

  29. Shalyn Sherriff

    I got the IHG card from Chase for their 120k bonus just for them to devalue their points a few weeks ago. I'm glad I used half the points prior to the devaluation.

  30. Wait until the year 3021 ! No problem 🧛🏼‍♂️

  31. Dugroz Reports

    I wouldn't get a hotel card speculatively now, but if you have specific travel planned in the next 12-18 months to use it for, I'd be good with it. What do you think?

  32. Centuri Capital

    It's not free anything though. The card companies already bought the points, so the airlines and hotels got paid for their services that they're rapidly inflating the value of now. Pretty scummy business model if you ask me.

  33. MetroJet2000

    The hotels and airlines aren’t giving the rooms and seats away, they collected the money for them in advance when the banks paid for the points in bulk.

  34. Louis Matassa

    👍 📹 and my fico 💳 score is 850

  35. can i downgrade the venture one card to a no snual free card

  36. Your outro kinda sounds like the Sofia Sofia shuffle tutorials that are always popping up in my YouTube shorts recommendations

  37. Timothy Kindrick

    I switched to cash back cards for now. I was looking at booking a hotel with Marriott. I remember being able to book a room for 15,000 or 20,000 points before the pandemic. Now the same hotel I usual book was 30,000 points a night.

  38. The direction of points is pretty disappointing but it's hard to complain since most of us are part of the problem. Back when the idea of being able to earn 200k+ points/miles/etc per year in just SUBs was unheard of, it was never an issue. There's just no barrier to doing so now and if you don't make yourself part of the problem you're just losing out.

  39. Just used my Hyatt points and points transferred from Chase UR to stay at Hyatt Zilara Rose Hall, Jamaica. It was excellent, I think I'm going to book it again!…in case it is devalued…🏖🌞

  40. good point, i never thought of devaluation points/miles. i always think they would not down grade our points! darn it.

  41. ya, thats why i stick to UR or TY pts. multiply ways to cash out or transfer.

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