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Frequent Contributor
IcEWoLF
Posts: 274
Registered: ‎02-25-2009

Advice on ThankYou Points...

If I redeem my ThankYou points (16K) at amazon it's roughly around $131...which is meh...

Do ThankYou points suck this much compared to Chase UR?


Please advice me on how I should maximize my return for the points I have...

 

 

EQ: 750 TU: 771 EXP: 800
Chase Sapphire Preferred: 7K | Chase Freedom Visa Signature: 5.7K
MERRILL+® Visa Signature®: 5K | Bank of America Accelerated Cash Rewards American Express Card: 5K
BankAmericard Privileges® with Cash Rewards: 7K
Discover IT: 8.5K | Costco AMEX: 10.7K | Barclay NFL: 4.9K | Citi ThankYou Preferred World Mastercard 7K | Amazon Chase 1.7K | Barclaycard Arrival Plus World Elite MasterCard 5K
Senior Contributor
longtimelurker
Posts: 5,379
Registered: ‎04-22-2013

Re: Advice on ThankYou Points...


IcEWoLF wrote:

If I redeem my ThankYou points (16K) at amazon it's roughly around $131...which is meh...

Do ThankYou points suck this much compared to Chase UR?


Please advice me on how I should maximize my return for the points I have...

 

 


Cash redemptions or travel or something else?

 

The best  cash redemptions for TY points are the student loan/mortgage redemptions, as these are 1:1.   Basically, you call them and they ask which instituion holds your loan, and they send *you* a check made out to that institution as Citi does no verification.  Many people simply give the name of their bank and deposit the check into their account.   This is not recommended for people who have done a lot of manufactured spend, but if your points are 16K, you probably haven't!

 

Next best for amounts like yours are $100 gift cards, which are (sort of) 1:1 with any of the cards.   The selection is not huge, and you can get the gift cards below face value at a number of other sites, hence the sort-of 1:1.

 

For bigger amounts I get Walmart gift cards, which can be converted (at a slight loss) into Visa Gift cards as the best way to cash out too many points.

 

For travel, if you have a card like the Premier, you can redeem for travel at 1.25 cents per point.

 

 

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)
Frequent Contributor
IcEWoLF
Posts: 274
Registered: ‎02-25-2009

Re: Advice on ThankYou Points...

Thanks for the advice longtimelurker!

I will probably go with Walmart GC, I wish they offered 1:1 for Amazon...since that's where I do most of my shopping.

But oh well, I don't plan on using this card much over my Chase Freedom/CSP/DiscoverIT, I mainly got it for the decent sign up bonus and because I wanted a MC in my portfolio.

 

I have the ThankYou Preferred card. :/

EQ: 750 TU: 771 EXP: 800
Chase Sapphire Preferred: 7K | Chase Freedom Visa Signature: 5.7K
MERRILL+® Visa Signature®: 5K | Bank of America Accelerated Cash Rewards American Express Card: 5K
BankAmericard Privileges® with Cash Rewards: 7K
Discover IT: 8.5K | Costco AMEX: 10.7K | Barclay NFL: 4.9K | Citi ThankYou Preferred World Mastercard 7K | Amazon Chase 1.7K | Barclaycard Arrival Plus World Elite MasterCard 5K
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Advice on ThankYou Points...

There's a 50% promo for Hilton transfers now. Hilton points are around 0.6ccp, so the bonus will bring it to somewhere around 1ccp, depending on your redemption. Not the best deal out there, but if you have a use for Hilton points then this is a straightforward solution.

Longtimelurker also previously suggested to me about redeeming for best buy GCs, which then can be used to buy kindle GCs, which are good for any amazon purchases. I haven't tried it yet.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

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