topic Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you? in Credit Cards

Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

haulingthescoreup — Sun, 17 Feb 2008 00:06:53 GMT

Well, good old Chase. They would rather have their toenails pulled out with pliers than tell you anything useful.

Does anyone have their Borders Visa? Not that I want another Visa, but I live at Borders, after they drove out the last big independent bookstore in town. I like their 3-2-1 setup: 3 points/ $1 on Borders purchases, 2 on gas, groceries, and restaurants, and 1 on everything else. Plus 1,000 points on activation. Like all Chase products, their APR's are awful, but I PIF, so I don't care.

But what the heck do you get to use the points for? What's the conversion? I've gone through both the Chase site and the Borders site, and here's what I get:

See Rewards Program Rules and Regulations, which will be mailed after your account is established.

The phrase "pig in a poke" comes to mind! I'd love to hear from anyone who has this card, or the equivalent biz card. Thanks!

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

Anonymous — Sun, 17 Feb 2008 01:43:19 GMT

From the Borders Business Visa paper application form:

"Earn 2,500 points and redeem them for a $25 check"

That comes to a penny a point, right? (I'm a little distracted by a recently injured finger.)

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

haulingthescoreup — Sun, 17 Feb 2008 01:51:26 GMT

Penny a point sounds right. Thanks! I wonder if they ever come up with deals where the points count for a bit more... Sorry to hear about the finger!

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

Anonymous — Sun, 17 Feb 2008 02:25:54 GMT

So that's 1% for cash back (but 3% for Borders purchases and 2% on gas, groceries, restaurants), but I wonder if that's all you can redeem points for. Usually if you have the option of cash back or merchandise, you get the better deal on the merchandise. You know, something like 2,500 points for $25 cash OR a $40 Border gift card or something like that.

Just speculating here. Nothing useful to add really.

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

haulingthescoreup — Sun, 17 Feb 2008 02:37:24 GMT

Yes, it would be pretty spiffy if Chase would tell you this up front.

This will be the last one I try for, so if I don't get it, it won't be the end of the world.

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

Anonymous — Sun, 17 Feb 2008 15:37:17 GMT

@Anonymous wrote:
So that's 1% for cash back (but 3% for Borders purchases and 2% on gas, groceries, restaurants), but I wonder if that's all you can redeem points for. Usually if you have the option of cash back or merchandise, you get the better deal on the merchandise. You know, something like 2,500 points for $25 cash OR a $40 Border gift card or something like that.
Just speculating here. Nothing useful to add really.

Cheddar, that's a good way of presenting it...

I guess what I like about it is that the points can be converted into a check. DH has an Amazon Business visa and rewards are given in Amazon GC and I believe the Juniper Barnes & Noble card issues rewards in GC (MV, maybe you can confirm?).

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

Dawn — Sun, 17 Feb 2008 17:15:25 GMT

haulingthescoreup wrote:
But what the heck do you get to use the points for? What's the conversion? I've gone through both the Chase site and the Borders site, and here's what I get:
See Rewards Program Rules and Regulations, which will be mailed after your account is established.

If it makes you feel any better, I can't access the rewards catalog for my Chase Freedom Card. I have elected the "cash" version for rewards at the present time, so I can't even access the details for the "points" version of their rewards.

What irritates me is that I can go to other CCCs' sites and actually browse the rewards catalog for various cards in order to factor that into my decision. But ... noooooo ... not Chase.

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

Anonymous — Sun, 17 Feb 2008 17:18:23 GMT

Dawn wrote:

What irritates me is that I can go to other CCCs' sites and actually browse the rewards catalog for various cards in order to factor that into my decision. But ... noooooo ... not Chase.

Wow, that's ridiculous.

"Cash or rewards?...Choose one.....quick....choose one....no you can't see the rewards before you decide....quick.....choose one! Oh yeah, and once you choose one you can't change back again until next month."

Ugh.

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

haulingthescoreup — Sun, 17 Feb 2008 17:53:00 GMT

I need to go back and squint at the morsels they give us on their website, because I didn't even see anything about cash, just points. All it says is "redeem points for gift cards, travel rewards, and more." I'm hoping mostly for rebates at the store, and so I guess that's what the gift cards will represent. Should have had this during the Harry Potter days, when our family bought three copies of the hardbacks at midnight on release date! (Three copies were necessary to avoid bloodshed around the house.)

I do buy a lot of mysteries at Borders, but I'd rather they not be on the website...

BTW, I did apply online for it, and got a 30 days response. That seems to be pretty common for Chase, so if it comes, it comes, and if it doesn't, * shrug *.

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

Dawn — Sun, 17 Feb 2008 17:59:26 GMT

Don't let us confuse you with the "cash or rewards" discussion. I was talking about the Chase Freedom Card.

On your card, here is press release from May of 2006 that gives you a tiny bit of info that may or may not still be applicable.

http://investor.shareholder.com/jpmorganchase/press/releaseDetail.cfm?ReleaseID=195892

The new Borders 3-2-1 Visa Card also provides cardmembers with flexibility in choosing how to redeem their points. Redemption opportunities start at just 2,500 points, which cardmembers may redeem for a $25 Borders gift card. Additional points earn cardmembers other redemption options such as a $25 check or gift cards from a variety of other merchants, including airlines.

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

haulingthescoreup — Sun, 17 Feb 2008 18:01:16 GMT

@Dawn wrote:

Don't let us confuse you with the "cash or rewards" discussion. I was talking about the Chase Freedom Card.

On your card, here is press release from May of 2006 that gives you a tiny bit of info that may or may not still be applicable.

http://investor.shareholder.com/jpmorganchase/press/releaseDetail.cfm?ReleaseID=195892
The new Borders 3-2-1 Visa Card also provides cardmembers with flexibility in choosing how to redeem their points. Redemption opportunities start at just 2,500 points, which cardmembers may redeem for a $25 Borders gift card. Additional points earn cardmembers other redemption options such as a $25 check or gift cards from a variety of other merchants, including airlines.

Thanks! Who knows how long it will be before I see anything in print, if ever.

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

Anonymous — Sun, 17 Feb 2008 18:09:09 GMT

Dawn wrote:
The new Borders 3-2-1 Visa Card also provides cardmembers with flexibility in choosing how to redeem their points. Redemption opportunities start at just 2,500 points, which cardmembers may redeem for a $25 Borders gift card. Additional points earn cardmembers other redemption options such as a $25 check or gift cards from a variety of other merchants, including airlines.

Ohhh, so the 1% doesn't apply to cash back. It clearly says "additional points" are required for the $25 check, over and above the 2,500 required for the $25 gift card.

So if you choose to redeem for Borders gift cards, you'll get a straight 1%. But when you consider you get 3x points for Borders purchases, that's like getting 3% back on all the money you spend there, and 2% on gas, groceries, and restaurants.

Not bad, really.

Re: Anyone with Borders/ Waldenbooks card (Chase)--what the heck do the points do for you?

haulingthescoreup — Mon, 18 Feb 2008 04:42:19 GMT

If it gets approved, I'll be happy, although I'm a little alarmed at the prospect of dozens of gift cards lying around, falling out of my wallet, dropping between the car seat and console, and on and on. (We have paperwork management Issues in our house, lol.)

edit: Just to confuse the issue, the hard turned up today on Equifax, not on Experian. So I expected Home Depot (Citi) to pull TransUnion, and they pulled EQ, and I expected Borders (Chase) to pull Experian, and they pulled EQ. Poor old EQ will be back down at 590 in no time!

Message Edited by haulingthescoreup on 02-17-2008 08:42 PM