Merchandise rewards

[Anonymous]

Generally, using credit card rewards for merchandise is a bad idea, but sometimes it seems REALLY bad.   I was just browsing the Altitude Reserve rewards site (I have lots of points and no place to go at present!).   They have some "Top Deals".   One is a 12 piece set (6 knives, 6 bladecovers) from Cuisinart Advantage.   Was 7,400 points, now just 6,500!   Ignoring that for travel you can redeem at 1.5cpp, this values the knives at $65.   Whereas both Amazon and Target have the same set for $16.99....

Moral:  just transfer your points to me, preventing you from making bad redemptions.

[Anonymous]

Well done.

As is often the case, I did not even see the last joke coming.

[Credit12Fico]

Yes, it's a running gag with the credit card companies. Getting their customers to massively devalue their rewards points.  Chase lets you use your ultimate rewards points for a 0.7cpp redemption rate on Amazon purchases. You could simply cashout your ultimate rewards points at 1cpp to a bank, and spend on amazon to get better value.

But hey, if enough people don't think twice before shopping on Amazon with Ultimate Rewards points, and it keeps Chase "profitable" so that the rewards programs continue, then I have no problem with that. I've heard the rewards program cost them some 300-500 million in a single quarter. I assume they make it all up in interest payments on the cards and the like.

The shop with ultimate rewards is a recent addition. So it appears Chase wants people redeeming Ultimate rewards below 1cpp more frequently.

[Remedios]

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@Anonymous wrote:

Well done.

As is often the case, I did not even see the last joke coming.

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At least this time @Anonymous  didn't post the account number to which we should be transferring points to. 

[Anonymous]

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@Remedios wrote:

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@Anonymous wrote:

Well done.

As is often the case, I did not even see the last joke coming.

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At least this time @Anonymous  didn't post the account number to which we should be transferring points to. 

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Yes, I have learned that posting anything that looks like a credit card number gets some well-meaning (FSR term for something else) people here nervous.

[wasCB14]

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@Credit12Fico wrote:

Yes, it's a running gag with the credit card companies. Getting their customers to massively devalue their rewards points.  Chase lets you use your ultimate rewards points for a 0.7cpp redemption rate on Amazon purchases. You could simply cashout your ultimate rewards points at 1cpp to a bank, and spend on amazon to get better value.

But hey, if enough people don't think twice before shopping on Amazon with Ultimate Rewards points, and it keeps Chase "profitable" so that the rewards programs continue, then I have no problem with that. I've heard the rewards program cost them some 300-500 million in a single quarter. I assume they make it all up in interest payments on the cards and the like.

The shop with ultimate rewards is a recent addition. So it appears Chase wants people redeeming Ultimate rewards below 1cpp more frequently.

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Still not as bad as transferring those URs to IHG...

[Credit12Fico]

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@wasCB14 wrote:

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@Credit12Fico wrote:

Yes, it's a running gag with the credit card companies. Getting their customers to massively devalue their rewards points.  Chase lets you use your ultimate rewards points for a 0.7cpp redemption rate on Amazon purchases. You could simply cashout your ultimate rewards points at 1cpp to a bank, and spend on amazon to get better value.

But hey, if enough people don't think twice before shopping on Amazon with Ultimate Rewards points, and it keeps Chase "profitable" so that the rewards programs continue, then I have no problem with that. I've heard the rewards program cost them some 300-500 million in a single quarter. I assume they make it all up in interest payments on the cards and the like.

The shop with ultimate rewards is a recent addition. So it appears Chase wants people redeeming Ultimate rewards below 1cpp more frequently.

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Still not as bad as transferring those URs to IHG...

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