No More Credit Cards For Stay-At-Home Parents; US Air 50% Share Miles Bonus; $100 Cathay Pacific Tickets; and What’s The Point? – Blog Roundup

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1.   No More Credit Cards For Stay-At-Home Moms or Dads

Craig writes that the Credit Card Act of 2009 may limit stay-at-home moms or dads from applying for credit cards.

*Shudder!*

That’s because the ruling may require credit card issuers to look at the applicant’s individual income as opposed to household income (which includes earnings from all folks who stay in the same house).

Craig suggests to get your application in before October, work for your partner, or wait and see how banks change their application process!

I’m curious to see what changes - if any - banks make in response to this provision.

(Hat tip to Help Me Travel Cheap!)

2.    US Air – 50% Bonus on Sharing Miles

Gary wrote about US Air’s new promotion which offers a 50% bonus on transferring US Air Dividend Miles up to July 31, 2011.

If you transfer 50,000 US Air Dividend miles (the maximum allowed), the recipient will get an additional 25,000 miles.

It costs $568 to make the transfer and you gain an additional 25,000 US Air miles (50% bonus), so the cost per mile is 2.27 cents per mile (56,800/25,000).

This is not such a great offer because, as Gary mentions, US Air has offered a 100% bonus on transfers in the past.

US Air was also recently selling miles for 1.48 cents per miles through their recent 100% bonus on purchased miles!

I’d pass on this offer unless you were short a few miles for an award which you wanted to book right away.

(Hat tip to View From The Wing!)

3.   $100 Tickets From Chicago To Hong Kong

Brian writes about Cathay Pacific’s $100 promotional tickets from Chicago to Hong Kong.

Unfortunately, there are only 25 tickets available on the next 3 Thursdays at exactly 3:25 pm CST.

I will pass on this as well, because I don’t have vacation days to go to Hong Kong, and because it is unlikely that I’m going to snag any tickets.

But perhaps you’ll have better luck!

(Hat tip to The Points Guy)

4.   What’s The Point?

Mommy Points reminds us why we do crazy things to collect miles and points!

She writes:

Long after my miles and points accounts are depleted and after the credit card tricks have been turned, no one can take away those moments. That’s the point and it makes it all worth it!

That’s so true.  We get happier with experiences than with possessions, and miles and points helps us get those memorable experiences!

Personally – while I do like the fussing and pampering in the First Class lounges – my best use of miles and points has been spending time with elderly grand parents, visiting family, and having family visit us!

(Hat tip to Mommy Points!)

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6 Responses to No More Credit Cards For Stay-At-Home Parents; US Air 50% Share Miles Bonus; $100 Cathay Pacific Tickets; and What’s The Point? – Blog Roundup

  1. Thanks for the “hat tip”! Trust me, I LOVE the first class pampering as well…..but you are right, it’s visiting the people who live far away that has meant the most to us. Especially true since the little munchkin has entered our lives! Makes all the “crazy” point collecting and scheming all worth it.

  2. The stay at home mom should just open up a seperate checking account where the working spouse can “pay” her a fixed amount each month high enough to qualify for the credit card. So once the working spouse gets his paycheck he just transfers part into the stay at home mom’s seperate checking account and she now has “income” from a job.

  3. And better yet, the working spouse can pay part of the fixed amount to the stay-at-home mom for her housekeeping service through Amazon payments and earn credit card points. :)

  4. @Mommy Points - Agreed!

    @mike – That’s creative! Let’s see how this develops.

    @Jong – Very funny!

  5. @mike — that might help get past whatever new gatekeeping requirements the credit card companies build in, but it may also impose tax liability on the stay-at-home spouse (in addition to the tax that’s already incident on the working spouse). Unless an individual credit card is really important (or the bonus really big!), I’d probably pass on the extra taxes.

  6. @Brad – You’re right that the extra taxes may not justify a new credit card. But there may be a way to get past the gatekeeping requirement without imposing a tax liability! Let’s see how this develops!

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