topic Re: ThankYou points? in Credit Cards

ThankYou points?

Anonymous — Thu, 18 Jun 2015 02:00:57 GMT

So after some research it looks like I can redeem points for cash in increments of 50 or 100 dollars. And they will mail me a check.

I can also purchase 1000 points for 25 dollars if I need points.

So so what is the real cash value of the 50000 point sign up bonus? Is 1 point worth 1 cent? So $500 via a mailed check?

Just looking for something similar to the CSP.

Re: ThankYou points?

longtime_lurker — Thu, 18 Jun 2015 02:17:46 GMT

Haven't we already answered this for you?....

Yeah, here it is: http://ficoforums.myfico.com/t5/Credit-Cards/Signup-bonus-cards-what-is-best/td-p/4061591

To use TYP in that fashion is terrible, at best if you can find a student loan/mortgage remdemption option (I can't with Prestige/Premier), yeah I guess you'll get $500.

Re: ThankYou points?

Anonymous — Thu, 18 Jun 2015 02:27:52 GMT

So one point is 1 cent

Re: ThankYou points?

Anonymous — Thu, 18 Jun 2015 02:30:23 GMT

@Anonymous wrote:
So one point is 1 cent

For the best redemptions, yes. But things like cash, statement credit, pay with points are much worse than that.

Re: ThankYou points?

Anonymous — Thu, 18 Jun 2015 03:01:00 GMT

So yes or no?

What is the cash value of on TY point?

Re: ThankYou points?

Anonymous — Thu, 18 Jun 2015 03:39:33 GMT

@Anonymous wrote:
So yes or no?

What is the cash value of on TY point?

It depends on how you redeem the points. It varies as has been mentioned several times.

Re: ThankYou points?

Anonymous — Thu, 18 Jun 2015 04:32:55 GMT

My father's thankyou credit card had 30,000 points. I redeemed for $300 home depot gift card after trying a check. Check was $150 which was half the amount which of course is not worth it at all.

Re: ThankYou points?

Anonymous — Thu, 18 Jun 2015 12:12:14 GMT

So I do not want a card that depends on what day of the week it is to determine the cash value of their rewards points.

With chase. I UR point is equal to one cent in terms of cash value into my navy fed money market.

This is does not appear to be true in terms of TY points. That is all I was asking. Not gift card or statement credit value.

Re: ThankYou points?

longtime_lurker — Thu, 18 Jun 2015 12:32:26 GMT

@Anonymous wrote:
So I do not want a card that depends on what day of the week it is to determine the cash value of their rewards points.

With chase. I UR point is equal to one cent in terms of cash value into my navy fed money market.

This is does not appear to be true in terms of TY points. That is all I was asking. Not gift card or statement credit value.

And we have repeatedly told you that this is not a good use of TYP or UR points - at all.

/thread

Re: ThankYou points?

takeshi74 — Thu, 18 Jun 2015 12:49:31 GMT

@Anonymous wrote:
So I do not want a card that depends on what day of the week it is to determine the cash value of their rewards points.

Redemptions always have an impact on value with points/miles rewards programs (aside from the ones that are really just cash back programs). If you can't be bothered with that then you should probably stick to cash back cards. There is no fixed value for points or miles. People use fixed values as guideline and in cases where they can reliably redeem at the given point value.

@Anonymous wrote:
With chase. I UR point is equal to one cent in terms of cash value into my navy fed money market.

Which, again, is not the best point value for UR points. If you're not leveraging a redemption method to maximize point value then you will probably be better off with a cash back card. It is, however, your call to make. If the cash back value of a point is acceptable to you then by all means go with it. A UR point is easily worth double what you're redeeming for, if not more.

It is a bit convoluted and there's no judgement here. Plenty of people don't want to bother with the hassle of maximing the values of their points/miles. It's a matter of preference. Some prefer simplicity from their rewards.

Re: ThankYou points?

Anonymous — Thu, 18 Jun 2015 12:48:58 GMT

@takeshi74 wrote:
@Anonymous wrote:
So I do not want a card that depends on what day of the week it is to determine the cash value of their rewards points.
Redemptions always have an impact on value with points/miles rewards programs (aside from the ones that are really just cash back programs). If you can't be bothered with that then you shoud stick to cash back cards. There is no fixed value for points or miles. People use fixed values as guideline and in cases where they can reliably redeem at the given point value.

@Anonymous wrote:
With chase. I UR point is equal to one cent in terms of cash value into my navy fed money market.
Which, again, is not the best point value for UR points. If you're not leveraging a redemption method to maximize point value then you will probably be better off with a cash back card. It is, however, your call to make. If the cash back value of a point is acceptable to you then by all means go with it. A UR point is easily worth double what you're redeeming for, if not more.

+1. And, as always, when choosing a card, consider the earning power as well as the redemption value. So, while most agree that cashing out UR at 1c per point isn't the best redemption, if you just have a Freedom, and only use it in 5% categories, cashing out is at least competitive with most cashback cards.

Re: ThankYou points?

Anonymous — Thu, 18 Jun 2015 13:19:36 GMT

Yes for me I use UR as 1 cent.
So 5 percent on dinning this quarter is a no brainier. Same goes for travel. 2 percent is good for me

I'm a big saver. Don't really fly. So the cash in my savings account is more important than a flight to somewhere.

And most places I go on the east coast I can drive too.

But what really interested me was 3x TY points on movies and dinning. But if that is not worth 3 cents per point then I'll just use my QS

Re: ThankYou points?

longtime_lurker — Thu, 18 Jun 2015 13:32:09 GMT

@Anonymous wrote:

But what really interested me was 3x TY points on movies and dinning. But if that is not worth 3 cents per point then I'll just use my QS

Just what. It's 2x. Did you even read card disclosures?

Re: ThankYou points?

jsucool76 — Thu, 18 Jun 2015 13:42:06 GMT

Statement credit gives you 0.5 cents pet point.

So 3x on restaurants is 1.5% back

Happy to see you looked into this card before you applied

You should be focusing on cash back cards, not point cards. You're throwing away money on your CSP. A citi doublecash card would be a FAR better option for you. Discover IT is also offering double cash back on all transactions.

STEPS TO CREDIT

1. Research

2. Apply

3. Profit

the steps to credit ARE NOT

1. Apply

2. ?????

3. Profit

Re: ThankYou points?

Anonymous — Thu, 18 Jun 2015 13:52:41 GMT

@jsucool76 wrote:
Statement credit gives you 0.5 cents pet point.

So 3x on restaurants is 1.5% back

Happy to see you looked into this card before you applied

You should be focusing on cash back cards, not point cards. You're throwing away money on your CSP. A citi doublecash card would be a FAR better option for you. Discover IT is also offering double cash back on all transactions.

STEPS TO CREDIT

1. Research
2. Apply
3. Profit

the steps to credit ARE NOT

1. Apply
2. ?????
3. Profit

I don't think the OP has actually applied, right? In both this and the linked thread, seems to be asking the value of the sign up bonus if they did get the card

Re: ThankYou points?

jsucool76 — Thu, 18 Jun 2015 14:12:14 GMT

@Anonymous wrote:
@jsucool76 wrote:
Statement credit gives you 0.5 cents pet point.

So 3x on restaurants is 1.5% back

Happy to see you looked into this card before you applied

You should be focusing on cash back cards, not point cards. You're throwing away money on your CSP. A citi doublecash card would be a FAR better option for you. Discover IT is also offering double cash back on all transactions.

STEPS TO CREDIT

1. Research
2. Apply
3. Profit

the steps to credit ARE NOT

1. Apply
2. ?????
3. Profit
I don't think the OP has actually applied, right? In both this and the linked thread, seems to be asking the value of the sign up bonus if they did get the card

Touche'

Signup bonus is worth $250 OP

Re: ThankYou points?

Anonymous — Thu, 18 Jun 2015 14:26:43 GMT

$250 ain't worth it lol
I'll wait for something better I guess.

I have not applied yet and prob won't :/