Redeeming Credit Card Rewards Points
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Redeeming Credit Card Rewards Points
Posted: Mon Jul 24, 2006 12:30 pm
IS THIS 2% OR IS IT 7/10 of 1%
$250 for 38,000 points
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Guest: XeroK00L
Credit Expert (100+ Posts)
Posted: Mon Jul 24, 2006 12:46 pm
Quote:
IS THIS 2% OR IS IT 7/10 of 1%
$250 for 38,000 points
Not sure why you're repeating your previous post, mouse. We all know their point-to-cash back conversion rate sucks, but nobody is forcing you to redeem TY points for cash back. As you, Polonius and I pointed out, there are mainly three ways to use the points with nearly, precisely, or above 100% efficiency:
a. nearly 100%: like you said, just redeem the points for gift cards. Even though by using gift cards you will lose the opportunity to earn more 5% rewards, the end result at 5% x (100% - 5%) = 4.75% still isn't a bad reward rate at all.
b. precisely 100%: be daring like I am, and redeem for student loan rebate checks, with always a 100% conversion rate. Spend just 2,500 points for a $25 check, and deposit it at your local bank's ATM. None of my past 6 student loan rebate checks got rejected so far, and I doubt they ever will be, since chances are Citibank won't ever want to waste their labor on manually verifying that the checks are really cashed by actual student loan programs.
c. above 100%: redeem for international tickets. Spend just 50,000 points for a ticket from San Francisco to London, which would've cost at least $1,600. TY Network even waives all applicable tax!! Now that is a killer deal.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Jul 24, 2006 12:51 pm
Quote:
"XeroK00L"
Quote:
IS THIS 2% OR IS IT 7/10 of 1%
$250 for 38,000 points
Not sure why you're repeating your previous post, mouse. We all know their point-to-cash back conversion rate sucks, but nobody is forcing you to redeem TY points for cash back. As you, Polonius and I pointed out, there are mainly three ways to use the points with nearly, precisely, or above 100% efficiency:
a. nearly 100%: like you said, just redeem the points for gift cards. Even though by using gift cards you will lose the opportunity to earn more 5% rewards, the end result at 5% x (100% - 5%) = 4.75% still isn't a bad reward rate at all.
b. precisely 100%: be daring like I am, and redeem for student loan rebate checks, with always a 100% conversion rate. Spend just 2,500 points for a $25 check, and deposit it at your local bank's ATM. None of my past 6 student loan rebate checks got rejected so far, and I doubt they ever will be, since chances are Citibank won't ever want to waste their labor on manually verifying that the checks are really cashed by actual student loan programs.
c. above 100%: redeem for international tickets. Spend just 50,000 points for a ticket from San Francisco to London, which would've cost at least $1,600. TY Network even waives all applicable tax!! Now that is a killer deal.
never-mind then
I guess it is good I have UNITED & DELTA MILES
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: XeroK00L
Credit Expert (100+ Posts)
Posted: Mon Jul 24, 2006 12:56 pm
Quote:
I guess it is good I have UNITED & DELTA MILES
I guess it is good that you enjoy paying annual fees and being stuck with the choices of the two airlines.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Jul 24, 2006 1:25 pm
Quote:
"XeroK00L"
Quote:
I guess it is good I have UNITED & DELTA MILES
I guess it is good that you enjoy paying annual fees and being stuck with the choices of the two airlines.
FEEL SORRY FOR ME WHEN THAT ANNUAL FEE GETS ME TO HNL
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Redeeming Credit Card Rewards Points
Posted: Mon Jul 24, 2006 12:30 pm
IS THIS 2% OR IS IT 7/10 of 1%
$250 for 38,000 points
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: XeroK00L
Credit Expert (100+ Posts)
Posted: Mon Jul 24, 2006 12:46 pm
Quote:
IS THIS 2% OR IS IT 7/10 of 1%
$250 for 38,000 points
Not sure why you're repeating your previous post, mouse. We all know their point-to-cash back conversion rate sucks, but nobody is forcing you to redeem TY points for cash back. As you, Polonius and I pointed out, there are mainly three ways to use the points with nearly, precisely, or above 100% efficiency:
a. nearly 100%: like you said, just redeem the points for gift cards. Even though by using gift cards you will lose the opportunity to earn more 5% rewards, the end result at 5% x (100% - 5%) = 4.75% still isn't a bad reward rate at all.
b. precisely 100%: be daring like I am, and redeem for student loan rebate checks, with always a 100% conversion rate. Spend just 2,500 points for a $25 check, and deposit it at your local bank's ATM. None of my past 6 student loan rebate checks got rejected so far, and I doubt they ever will be, since chances are Citibank won't ever want to waste their labor on manually verifying that the checks are really cashed by actual student loan programs.
c. above 100%: redeem for international tickets. Spend just 50,000 points for a ticket from San Francisco to London, which would've cost at least $1,600. TY Network even waives all applicable tax!! Now that is a killer deal.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Jul 24, 2006 12:51 pm
Quote:
"XeroK00L"
Quote:
IS THIS 2% OR IS IT 7/10 of 1%
$250 for 38,000 points
Not sure why you're repeating your previous post, mouse. We all know their point-to-cash back conversion rate sucks, but nobody is forcing you to redeem TY points for cash back. As you, Polonius and I pointed out, there are mainly three ways to use the points with nearly, precisely, or above 100% efficiency:
a. nearly 100%: like you said, just redeem the points for gift cards. Even though by using gift cards you will lose the opportunity to earn more 5% rewards, the end result at 5% x (100% - 5%) = 4.75% still isn't a bad reward rate at all.
b. precisely 100%: be daring like I am, and redeem for student loan rebate checks, with always a 100% conversion rate. Spend just 2,500 points for a $25 check, and deposit it at your local bank's ATM. None of my past 6 student loan rebate checks got rejected so far, and I doubt they ever will be, since chances are Citibank won't ever want to waste their labor on manually verifying that the checks are really cashed by actual student loan programs.
c. above 100%: redeem for international tickets. Spend just 50,000 points for a ticket from San Francisco to London, which would've cost at least $1,600. TY Network even waives all applicable tax!! Now that is a killer deal.
never-mind then
I guess it is good I have UNITED & DELTA MILES
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: XeroK00L
Credit Expert (100+ Posts)
Posted: Mon Jul 24, 2006 12:56 pm
Quote:
I guess it is good I have UNITED & DELTA MILES
I guess it is good that you enjoy paying annual fees and being stuck with the choices of the two airlines.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Jul 24, 2006 1:25 pm
Quote:
"XeroK00L"
Quote:
I guess it is good I have UNITED & DELTA MILES
I guess it is good that you enjoy paying annual fees and being stuck with the choices of the two airlines.
FEEL SORRY FOR ME WHEN THAT ANNUAL FEE GETS ME TO HNL
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 3:51 PM
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