You Don’t Become a Millionaire on Points – Here’s the Truth

 

I’ve worked in banking for over 20 years. My experience includes time at American Express, JP Morgan Chase, and Wells Fargo. I’ve seen every credit card trend out there — airline miles, hotel points, cashback deals, and reward bonuses. Let me tell you the truth: you don’t become a millionaire on points.

People post all the time about how they “hacked” travel or made thousands from credit card rewards. Sure, some of it is real. You can save money or get a free flight here and there. But if you think points will make you rich, you're missing the bigger picture.

Let’s break this down simply:

1. Points Are Not Cash
   Most reward points lose value quickly. One airline mile might be worth 1–1.5 cents. So even if you have 100,000 points, that’s only around $1,000–$1,500. That’s not life-changing. That won’t make you wealthy. It won’t buy you freedom.

2. Points Are a Marketing Game
   Banks and credit card companies use points to make you spend more. The more you spend, the more they earn in fees and interest. It’s a business for them, not a gift for you. Rewards are bait. You spend more to chase them, and often end up carrying a balance or paying fees.

3. You Can’t Save What You Overspend
   People often spend money they don’t need to, just to earn points. That $500 purchase “for the bonus” might be wasteful if you didn’t need it. In the end, you’re spending more than you’re saving. That’s not smart money management.

4. Millionaires Focus on Assets, Not Points
   I’ve seen people with high credit scores, fancy credit cards, and loads of points — but no real wealth. Millionaires build wealth through business, investments, real estate, or saving consistently. They grow assets that produce income. Points do not do that.

5. The Real Win Is Living Below Your Means
   Want to build wealth? Spend less than you earn. Save and invest the difference. Focus on long-term goals. Points can be a small bonus — but they’re not a strategy. They’re a tiny perk, not a plan.

6. Be Smart, Not Flashy
   The credit card game can look impressive. Flashy travel, luxury lounges, and upgrades — all for “free.” But behind the scenes, most people are not building real wealth. The real winners are the banks, not the users chasing rewards.

In summary: points are fun, but they won’t make you rich. I’ve been in banking long enough to know the truth. Focus on real money, not fake value. Want to be a millionaire? Learn to save, invest, and build something that lasts. Stop chasing points. Start building wealth.

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If you found these tips helpful and want to learn more real advice about money and banking, visit my Amazon store. I’ve written simple, straight-to-the-point eBooks based on my 20+ years in the banking world — from American Express to JP Morgan Chase and Wells Fargo.

These books are full of real stories, smart tips, and things they don’t teach you in school.

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