Do I keep on using PRG for the 15,000 bonus points?

[Fico2Go]

Seems I am near the 30K spend requirement to earn an additional 15K MR this year on PRG.  I am wondering if it's worth spending an additional $10,000 on this card to earn 15K points which equals about a half point per $1 spend.  Or, divert spening to a card that pays out 5% cashback? 

Seems straight forward enough but was wondering if there is anything I left out or failed to see. 

Thanks

[Anonymous]

What's the statement credit value of those 15k points?

[odd_dog]

Guessing it depends on how much you value MR points.....45,000 total for 30,000 spend is good if you are going to use them to transfer to a travel partner (airline).

[Fico2Go]

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@Anonymous wrote:

What's the statement credit value of those 15k points?

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I don't beleive there is an option to receive statement credit.  This is for MR redeemable at partner airlines?

[Fico2Go]

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@odd_dog wrote:

Guessing it depends on how much you value MR points.....45,000 total for 30,000 spend is good if you are going to use them to transfer to a travel partner (airline).

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Odd dog, you make a good point.  I was wondering if I could have net more spending $30K with a 5% cashback card. 

Example. 

On a 4% cashback card the net on $30K spend would have been $1200

I suppose I could take the value of 45K MR redemption and compare to $1200. 

[jsucool76]

Well I'm assuming not ALL of that 30k spending falls into the 1 point category. Some of it I'm sure was either gas or groceries, and maybe even a flight in there somewhere. So you could have very well earned more than just 45,000 points. 

How close are you to the 30k spend? 

[Fico2Go]

I have $10,000 to go to hit $30K. 

[jsucool76]

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@Fico2Go wrote:

I have $10,000 to go to hit $30K. 

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You're already 2/3 of the way there, might as well go for it. haha 

Plus, the 4% bonus on a 5% card is fantastic, but that is in category spending, not all over spending. You may get 5% back on on gas, but that isn't a 4% bonus, it's a 3% bonus, because you're getting 2 points/dollar on gas with the PRG. Same with supermarkets. Also, PRG has uncapped rewards, the BCP, and the discover it  and BoA 123 I see you have, will not get you category rewards for up to $30,000 of spend a year.

$6000 from supermarkets on the BCP, and then 3% on gas, but you're earning 2% on the PRG, plus the bonus, so not a real difference

 $6000 a year on the 1-2-3, and

discover it is $6,000 maximum per year. That is $18,000 in bonus rewards.

the BoA 1-2-3 is about on par with the PRG's rewards structure, as is the Barclay Rewards card. So in reality, you're not missing out on all that much. 

Also, depending on who you transfer MR points to, you may end up getting far more value out of these points than straight cash back. 

Edit: I didn't see that you have the regular blue cash card in your sig. If you spend that much, you may be far better off using that card for the 5% after $6500 spend. lol. 

[Anonymous]

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@Fico2Go wrote:

I have $10,000 to go to hit $30K. 

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Well, as said above, all depends on how you redeem.   If you put that $10K on BC, you will get ~$500 (depending on fees).  If you do it on the PRG, you'll get a minimum of 25K MR, more if some of the spending is in the bonus categories

So if you get 2c per MR, the PRG does at least as well.    That's from the point you are at, once you have already spent the $20K.  

Starting from scratch:

$30K spend on BC is $1,500, vs min of 45K MR.  So you need a higher redemption value (or much more spending in bonus categories) to justify the PRG.