Rewards Points
1 - 11 of 11 Posts
Joined
·
8,121 Posts
If you can get a billion points, I will buy you a cup of coffee.
You can buy gift cards with them - https://www.diychatroom.com/rewards/index.php?do=category&id=3
Points have no set value. I only look for offers in a denomination we can all agree on the value of: dollars.
If you fly a lot, and know the value of points based on air fares, then I hear you can do well. As an infrequent flyer, I'm not there yet.
I had a credit card (PenFed) try to get me to change from a direct dollar rewards system to a "points" system. I suspect it went something like this: A third-party points management company sold PenFed managers on the idea of off-loading the whole program to them. I assume it saved PenFed money, and made money for the third party. I know their splashy ad campaign to try to sell customers on this program wasn't cheap.
I didn't see how it could benefit me. And I doubt it took any significant effort on the part of PenFed to run a batch job every month to calculate and transfer the rewards amounts. The whole thing was most likely just a money grab.
For my part, I called them to complain and they offered to let me keep my cash rewards, but for only one category. I chose 5% on gas. I have not used the card for anything else since. I pay for almost everything on a different, cash-back card. So the change didn't really benefit them in my case.
Maybe for their target audience it was a success. It seems they cater to a lot of young people in the military or public service who aren't financially very savvy. Shiny prizes to win using points might have an appeal to that demographic. I'd rather pick my own prizes with cash, thank you.
If you fly a lot, and know the value of points based on air fares, then I hear you can do well. As an infrequent flyer, I'm not there yet.
I had a credit card (PenFed) try to get me to change from a direct dollar rewards system to a "points" system. I suspect it went something like this: A third-party points management company sold PenFed managers on the idea of off-loading the whole program to them. I assume it saved PenFed money, and made money for the third party. I know their splashy ad campaign to try to sell customers on this program wasn't cheap.
I didn't see how it could benefit me. And I doubt it took any significant effort on the part of PenFed to run a batch job every month to calculate and transfer the rewards amounts. The whole thing was most likely just a money grab.
For my part, I called them to complain and they offered to let me keep my cash rewards, but for only one category. I chose 5% on gas. I have not used the card for anything else since. I pay for almost everything on a different, cash-back card. So the change didn't really benefit them in my case.
Maybe for their target audience it was a success. It seems they cater to a lot of young people in the military or public service who aren't financially very savvy. Shiny prizes to win using points might have an appeal to that demographic. I'd rather pick my own prizes with cash, thank you.
Joined
·
11,194 Posts
The best way to use your points is donate them to Toys for Tots during the Xmas drive.
This past Christmas the points donated were:
ContractorTalk.com 111,573
DIYChatroom.com 77,465
PaintTalk.com 21,695
ElectricianTalk.com 15,857
Total Points 226,590
5,000 points = $50
Total Donation: $2,265.90 (US)
This past Christmas the points donated were:
ContractorTalk.com 111,573
DIYChatroom.com 77,465
PaintTalk.com 21,695
ElectricianTalk.com 15,857
Total Points 226,590
5,000 points = $50
Total Donation: $2,265.90 (US)
Joined
·
10,531 Posts
Ayuh,..... Ditto that,.......
I missed the cut off date this last year, so will donate twice as many points, next year,......
I earn hardly any points from flying. Yet I am still able to take my family on overseas vacations in business class every couple of years.
Secret #1 is to use credit cards that generously award points in exchange for a (sometimes, but not always) hefty annual fee. Then transfer the points to an airline when you're ready to buy tickets. The annual fees do increase the cost of the points, but if you're savvy and redeem them for high value tickets, it's worth it.
Secret #2 is that airline frequent flier programs are junk UNLESS you fly a ridiculous amount. But there are still some good redemption values to be had if you pay attention.
Joined
·
11,194 Posts
I donate what I have shortly after Cricket makes her announcement. Then I donate again just before the closing date. That way, if something happens they are at least getting 75-85% (or whatever), instead of missing 100%.
There are a number of us doing it that way.
Just food for thought.
Joined
·
10,531 Posts
Yer right,..... I just put my points in a safe place,.......
I just pile em up, any way that I can, trying to not be too obnoxious about it, then donate a day or so before the cut-off day.Yer right,..... I just put my points in a safe place,.......
Here is 2 more for the kids.
ED
1 - 11 of 11 Posts
