topic Re: Go Rewards and Ultimate Rewards in Credit Cards

Go Rewards and Ultimate Rewards

TheBoondocks — Sat, 07 Sep 2019 17:20:17 GMT

Hey guys, just wondering has the Go Rewards always been 1:1 like UR? Where it's 1c per point? If so, I might get the WF Propel card since there's no cap.

Re: Go Rewards and Ultimate Rewards

wasCB14 — Sat, 07 Sep 2019 19:05:01 GMT

1:1? When did WF get transfer partners?

*You may misunderstand what 1:1 means. It's used in reference to point transfers to airlines and hotel loyalty programs. 1 Chase UR point can convert (with an AF UR card) to 1 World of Hyatt point or 1 United mile, etc. 1 Amex MR can become 1 Delta Skymile.

Of course, not all transfers are 1:1, and transfer increments vary (250, 1000, etc). The ratio can be higher or lower.

Re: Go Rewards and Ultimate Rewards

TheBoondocks — Sat, 07 Sep 2019 19:01:41 GMT

I mean 3c per point for every dollar spent lol.

Re: Go Rewards and Ultimate Rewards

wasCB14 — Sat, 07 Sep 2019 19:10:52 GMT

@TheBoondocks wrote:
I mean 3c per point for every dollar spent lol.

Are you asking about pooling points across multiple WF cards - with either another WF card you have or with a spouse's WF card?

Someone else would have to answer pooling-related questions.

Or you just want to redeem for cash at 1 cent per point?

Re: Go Rewards and Ultimate Rewards

Anonymous — Sat, 07 Sep 2019 19:22:53 GMT

It is 3c per dollor earning rate in travel, gas, dining.

It is 1c per point when redeeming.

If you have a family/friend/willing stranger with wells visa sig, pool points and you get 1.5c per point when redeeming for flight through wf travel portal.

If you have a loyalty program with airline, it would be close to 1.66c per point.

It's an amex network card, so acceptance is less than VISA/MC.

Re: Go Rewards and Ultimate Rewards

TheBoondocks — Sat, 07 Sep 2019 19:29:46 GMT

What I'm saying is to redeem for cash back, it's always been 1c? It never changed? like for the penfed even tho it's 5x, it's said to be converted at 4.25% cash back for has.

Re: Go Rewards and Ultimate Rewards

Anonymous — Sat, 07 Sep 2019 20:11:50 GMT

yes, its 1 c per pt. but you can only redeem in 2500 pts increments.

Re: Go Rewards and Ultimate Rewards

kdm31091 — Sat, 07 Sep 2019 22:43:48 GMT

@TheBoondocks wrote:
What I'm saying is to redeem for cash back, it's always been 1c? It never changed? like for the penfed even tho it's 5x, it's said to be converted at 4.25% cash back for has.

Keep in mind reward points are always subject to change and devaluation. Banks like these programs because they can decide how many points you need to redeem for a given reward, and they can change it at any time. That's why the Propel is advertised as "3x" dining, not 3%. There's no guarantee they will always let you redeem 1cpp for all redemptions.

Also note you can only redeem in increments of $25 which basically ensures you will leave money behind each time, so IMO your actual value is reduced.

Re: Go Rewards and Ultimate Rewards

UncleB — Sat, 07 Sep 2019 23:13:43 GMT

@Anonymous wrote:
yes, its 1 c per pt. but you can only redeem in 2500 pts increments.

For a statement credit redemptions are still limited to a 2500 minimum (and 2500 point increments) but WF recently added a 'purchase eraser' like feature that allows redemptions for any amount. (I think there might be a $1 minimum, FWIW.)

More info: https://ficoforums.myfico.com/t5/Credit-Cards/Zap-Purchases-w-Go-Far-Rewards/td-p/5612070

Re: Go Rewards and Ultimate Rewards

TheBoondocks — Sat, 07 Sep 2019 23:25:25 GMT

Oh that's like the capital one feature on a specific purchase. That's good to know and have.