So that 1.6 cents
per point redemption option is an awfully valuable perk.
Not exact matches
With a meaty sign - up bonus, solid reward rate of 2x
points per dollar on travel and dining, and flexibility in
redemption through the Ultimate Rewards portal, the Chase Sapphire Preferred has established itself as one of the best credit card
options not only for airline ticket purchases but all things travel.
The card also gives you 2
points per $ 1 spent on all other purchases, but due to the low
redemption rate, it is not the best
option for earning
points on non-hotel purchases.
There are many more
redemption options available at a one cent
per point value.
Most
redemption options will give you a value of 1 cent
per point, including redeeming
points for online shopping, statement credit or cash back, and donations.
Besides the direct
redemption options offered by the credit card issuer, a common way to maximize the
per -
point value of rewards
points is to transfer them to a partnering airline or hotel loyalty program.
Unlike other loyalty programs, TrueBlue doesn't offer any
redemption options that get less than 1 cent
per point, so you'll likely get a decent return on your rewards no matter how they're spent.
It earns more
points per dollar spent than other cards, has a broad choice of
redemption options, charges no annual fee and doesn't require big spending.
The card offers 1.5 % cash back everywhere you shop, which is better than the 1.5
points per dollar spent that you earn through the PenFed Pathfinder Rewards American Express Card since the
points vary in value depending on the
redemption option.
Indeed, transferring to frequent flyer miles often offers more
per -
point value than other
redemption options.
These transfers can help you unlock much more value than the 1 cents
per point possible using Pay With
Points for flights, which in turn is a better
option than any other non-transfer
redemption.
There are a few
redemption options on the MyCruise Rewards chart, however, that offer a value greater than one cent
per point.
However, be aware that the Membership Rewards portal has multiple
redemption options, and many of them are worth less than $ 0.01
per point.
That card was always a good
option for overseas travel because it charges no foreign transaction fees, earns 2
points per $ 1 on travel and dining, and gets you 20 percent off travel
redemptions — not to mention that 1:1 partner transfer you're about to benefit from.
The Hilton Grand Vacations Hotel, located near Planet Hollywood just behind the Strip, might be a better
option for
redemptions at 35,000
points per night.
Above, we outlined the listed
redemption options if you only hold the Chase Freedom Unlimited ® Card, and each of them had a
redemption value of $.01
per point.
The main downside of the program is that many of the
redemption options come with a value below 1 cent
per point, which is a standard benchmark.
Most
redemption options — including cash back and travel
redemptions through the Chase Ultimate Rewards portal — are worth 1 cent, but the value can exceed 2 cents
per point if you take advantage of transfer
options.
When you transfer
points to any Chase reward travel partners, the
redemption value of each
point can be worth even more with some
redemptions at up to 5 - 8 cents
per point for international first and business class
options.
When you book through the American Express travel website and choose the Pay with
Points option, you'll get a straight 1 - cent -
per - dollar
redemption rate.
Amex also allows
redemptions for statement credits and merchandise, but at rates far below 1 cent
per point, it's best to avoid these
options.
Besides the direct
redemption options offered by the credit card issuer, a common way to maximize the
per -
point value of rewards
points is to transfer them to a partnering airline or hotel loyalty program.
Most
redemption options will give you a value of 1 cent
per point, including redeeming
points for online shopping, statement credit or cash back, and donations.
Straightforward to earn and simple to redeem, cash back rewards are an easy way to save on every purchase without needing to worry about how to maximize your
redemption options or increase your
per -
point value.
Rewards credit cards most often pay 1
point per dollar spent on the card but the
redemption options for those earned
points is where things differ.
I made a few comparison searches and found
redemption values of around 0.3 US cents
per point, making it a bad
redemption option.
The best value is to redeem for RCI Member Rewards credits and receive up to 1.25 cents
per Rewards
point versus one cent for other
redemption options.
The best way to get the most out of your credit card
points is to research the
per -
point value of your
redemption options.
It's likely that Citibank included this 1.6 cents
per point option because for whatever reason they've been unable to sign up American as a true transfer partner and wanted to offer some sort of domestic
redemption.
Indeed, transferring to frequent flyer miles often offers more
per -
point value than other
redemption options.
The Membership Rewards program really falls short on its cash back
redemption option — you get a very low value of 0.6 cent
per point when you redeem
points for statement credits.
So, unless you pair these cards with a premium card, your
point value is low — only 1 cent
per point for most
redemption options, including travel.
Freedom card
points are worth only 1 cent
per point for most
redemption options.
Airfare
redemptions are generally the most valuable
option, especially if you take advantage of American Express» transfer
option — you can get more than 2 cents of value
per point with certain partners:
I routinely get at least 1 cent
per point when redeeming Hilton HHonors
points, and this value tends to increase when taking advantage of the AXON / GLON
options discussed in my previous post since I have both Hilton HHonors elite status and a Hilton Amex — thus opening up reduced
redemption rates.
In our testing of award
options between NYC - LAX, Elevate
redemptions fell between 2.05 and 2.33 cents
per point.
When I looked for hotels, the
redemption is ok... They're not the best, BUT if you are planning to travel to certain places where one of their 141 locations for 10K
points per night or 65 locations for 5K
points per night
options are
per Loyalty Lobby, then that can get you up to 24 nights for free (stay 4 nights and get the 5th night free).
Airfare aside, none of these other travel
options is a good
redemption choice — you get only 0.7 cents
per Membership Rewards
point.
The Starwood Preferred Guest ® Credit Card from American Express has several other rewards
redemption options, most of which exceed the 1 cent
per point industry standard.
This way, you can get 1.6 cents
per point, according to NerdWallet's valuation, making it a slightly more valuable
redemption option.
The more typical
redemption options for TYPs are not particularly enticing — you can get one cent
per point by getting gift cards, less than that if you're redeeming for statement credits.
Generally speaking, the second
option offers a better value for your
redemption, since you're getting a value of just 1 cent
per point when using the first one.