This is a YouTube video titled "Client Video 5 - Credit Cards & Frequent Flyer Points" containing a monologue from July 5, 2017, discussing the diminishing value of frequent flyer points on credit cards and advising viewers on better spending habits. The speaker, referred to as Scott, explains how credit card spending leads to higher expenses and suggests using a Visa debit card instead. The content is financial advice focused on credit card usage and frequent flyer programs.
So a lot of times I'm sitting with people and they're saying, scott, I don't want to get rid of my credit card because of my frequent flyer points. Now, back in the day when Ansett was around, the frequent flyer deals were pretty good. You'd get a dollar spent, you'd get a dollar back. These days, they've watered them down so much that you've literally got to spend 300 grand on your credit card just to be able to buy a kettle. That's a slight exaggeration, but you get my point. These days, there is no value in it. You are so much better off spending on a Visa debit card and then using all that money saved by paying cash for those flights or whatever it may be. So remember, we're talking about people on credit cards spend 14% more when they go shopping than people who don't use credit cards. And so if you're saving 14% more on every single expense, that over a few months is well and truly enough to take care of all flights paid for by cash there. So don't get sucked into the flybys or the frequent flyer points. They are so much different to what the those campaigns started out at. And you're really going to struggle to get bang for buck. And the bottom line is you're going to be spending more just because of the points.
