When do you redeem your rewards?

[myjourney]

Mine

Barclay NFL 46,000 points ...Just stacking points 

CAP1 generates check  every $25.00

(3) 2013 will probably get another one by 12/31/13

Discover is set up for $50.00 direct deposit 

(2) 2013

FNBO Amex just stacking $$$$$$$$$$$ so far

(0) 3 year limit on rewards so will probably cash out twice a year 

CAP1 business generates check every $50.00 

(4) 2013

This card was just converted to 2% Thanks EO this should double in cash back in 2014 if not more 

Amex Lowes 8300....Just stacking points 

[CreditScholar]

I don't really use any cash back cards, so I'm going strictly based on reward points/miles.

I usually have very specific redemptions in mind, usually in the 120k-300k range. Once I cross that threshold, I redeem as soon as I can. There's little point redeeming for something that I don't want or need just because it's less, but at the same time it's foolish to hoard too many points given the devaluations we've seen in 2013. I'll usually keep a minimum balance of points for emergencies, and then redeem the surplus once I have enough for a specific target.

[Open123]

For cashback cards, the moment it's available.  I tend to eschew the minimum redemption threshold cards, and find the Quicksilver's "any" amount redemption to be ideal.

For points (SPG, MR, and UR), I redeem the moment I'm certain of my travel plans.  With UR & MR, I'd like to keep some just for the emergency flights that would cost much more than when using points.

[supervelous]

Usually right when I hit the minimum, BUT it's a really tough decision with Chase UR points.  I have about 80,000, which could get me $800 cash, which I would love to redeem and have thought about it many times.  But after seeing how the points can transfer 1:1 to Travel Partners and how that can work with Hyatt or the airlines to get you a lot more value, I am scared to redeem Chase.  I have no travel plans now, but feel I may regret not having them down the line when I need/want to travel.

[Open123]

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supervelous wrote:But after seeing how the points can transfer 1:1 to Travel Partners and how that can work with Hyatt or the airlines to get you a lot more value, I am scared to redeem Chase.  I have no travel plans now, but feel I may regret not having them down the line when I need/want to travel.

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For me, what makes UR points unique is their minimum cash redemption value, which sets them apart from SPG, MR, and TY points.  For this reason, I feel less urgency to use my UR points, since devaluation risk is hedged by this minimum value. 

[longtimelurker]

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@Open123 wrote:

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supervelous wrote:But after seeing how the points can transfer 1:1 to Travel Partners and how that can work with Hyatt or the airlines to get you a lot more value, I am scared to redeem Chase.  I have no travel plans now, but feel I may regret not having them down the line when I need/want to travel.

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For me, what makes UR points unique is their minimum cash redemption value, which sets them apart from SPG, MR, and TY points.  For this reason, I feel less urgency to use my UR points, since devaluation risk is hedged by this minimum value. 

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Why is the minimum for UR different than say TY?  Just ease of redemption?  Presumably chase could easily change UR to be worth 0.5 cent if "needed"!

[Open123]

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@longtimelurker wrote:

Why is the minimum for UR different than say TY?  Just ease of redemption?  Presumably chase could easily change UR to be worth 0.5 cent if "needed"!

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Never occured to me Chase would ever reduce the value of a UR point to below 1 cent.