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@MAstudent07 wrote:
Hi all,
There have been several instances where I have checked how much my thank you points are worth. Every time the website shows as a cash conversion to $100.00. The denominations are $50.00 for every 10k points. I have earned over 35k points, but it never says $150.00. Any insight on this?
Thanks friends
Redeeming thank you points for cash is a bad idea, As you can see, you get 1point = 0.5c, making the card a 0.5% card on non-bonus categories. Go for the student loan or mortgage redemption option(even if you don't have one, name your checking account holder as the holder of the loan), and you can get a check (will probably two or three in various denominations) for $350 for your 35K.
@MAstudent07 wrote:
Thank you for the quick reply. I love your idea because it makes the points seem more attractive. Am I cheating Citi by moving forward with your advise? I do have a mortgage, but I wanted the 💰 for personal use.
Cheating a little maybe (violating the spirit) but not a big deal. Easy to rationalize why it's ok! Basically you say (in my case) that the mortgage is held by Bank of America. They send you a check made out to bank of america for you to forward. And you just deposit it in your account.
If Citi is your loan holder or your checking account holder, possibly a bit more risky, but they made no attempt to check or ask for verification. But getting the full value was more important to me than overworrying about ethics with big banks.
Thank you friends, I have looked into your strategies and they do more sense.