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statement credits will eat all your points to nothing, specially if you want a statement credit with amex.
@longtimelurker wrote:
@bradlin wrote:I have Citiassist loans and I didn't know you can redeem points towards the loan.
You have to call and ask for a student loan redemption. You do it in 2,500 = $25 increments. They send YOU then check, made out to the instituion you name, and it is your responsiblity to send it in as partial payment (or extra payment or whatever)
According to the ThankYou points site, it is 3300 = $25 now.
@Anonymous wrote:
@longtimelurker wrote:
@bradlin wrote:I have Citiassist loans and I didn't know you can redeem points towards the loan.
You have to call and ask for a student loan redemption. You do it in 2,500 = $25 increments. They send YOU then check, made out to the instituion you name, and it is your responsiblity to send it in as partial payment (or extra payment or whatever)
According to the ThankYou points site, it is 3300 = $25 now.
Interesting. For me it still shows 2,500 for $25. What is the rate for $100? For gift cards, $100 used to be 1:1 when lower denomiations weren't
@Anonymous wrote:
@longtimelurker wrote:
@bradlin wrote:I have Citiassist loans and I didn't know you can redeem points towards the loan.
You have to call and ask for a student loan redemption. You do it in 2,500 = $25 increments. They send YOU then check, made out to the instituion you name, and it is your responsiblity to send it in as partial payment (or extra payment or whatever)
According to the ThankYou points site, it is 3300 = $25 now.
Just checked mine, and it still lists redemptions at 1:1, 2,500 = $25.
How does the student loan redemption work if someone tried it? Any step by steps?
I haven'tt done student loans but did the mortgage one several times and I assume the process is the same. You call, tell them the lender and the amount you want to redeem, and they send you a check made out to that lender. You then send it in to your lender.
There doesn't seem to be any verification needed.
Don't redeem it that way. There are so many options with points. For example, you can transfer the 50k points to Singapore Airlines' frequent flyer program and you would be just 17.5k points short of a one way ticket from JFK to Frankfurt, Germany in their Suite class which is about $9000 one way. Check it out.
http://dereklow.co/what-its-like-to-fly-the-23000-singapore-airlines-suites-class/