Chase points - what's the point of buying gift cards

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ascension
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Chase points - what's the point of buying gift cards

Post by ascension » Fri Nov 09, 2018 1:13 am

I am planning to buy Iphone 8 as a gift to myself. (My iphone 6 is breaking down unfortunately)

I am wondering if there is any benefit to buying an iphone directly through chase ultimate rewards?

I have around 60000 points worth $600.

I can either directly buy from apple through chase (where 100 points still has a value of $1)

or

I can simply get a cashback of $600 and buy from apple or third party store myself (ex. refurbished)

Is there any benefit of choosing the former over the latter?

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whodidntante
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Re: Chase points - what's the point of buying gift cards

Post by whodidntante » Fri Nov 09, 2018 1:21 am

Some people like to use the Sapphire Reserve for travel redemptions at a higher point value. I have more points than I can realistically use so I tend to take the money. But I wouldn't buy merchandise with points. Do it as a normal purchase, so you can get extended warranty, points, and any other benefits that your card offers.

ascension
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Re: Chase points - what's the point of buying gift cards

Post by ascension » Fri Nov 09, 2018 1:57 am

whodidntante wrote:
Fri Nov 09, 2018 1:21 am
Some people like to use the Sapphire Reserve for travel redemptions at a higher point value. I have more points than I can realistically use so I tend to take the money. But I wouldn't buy merchandise with points. Do it as a normal purchase, so you can get extended warranty, points, and any other benefits that your card offers.
I just checked website.

Apparently you can either get

$1 cash from 100 points

Or $.80 from Amazon gift card from 100 points

Why would anyone choose gift card over hard cash (which is value $1 vs 80cents of Amazon)

Something must be amiss.... or are chase guys out of their minds?

supalong52
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Re: Chase points - what's the point of buying gift cards

Post by supalong52 » Fri Nov 09, 2018 2:13 am

I transfer my Chase points to United. Probably worth 2 cents a point, so more valuable than the cash value. Amazon value is terrible.

HIinvestor
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Re: Chase points - what's the point of buying gift cards

Post by HIinvestor » Fri Nov 09, 2018 2:28 am

I tend to gift our Chase Sapphire points to D, who used them to buy airplane tickets. This allows her a lot of flexibility and to book at close to last minute without much penalty.

For example, she’s purchased one way ticket LAX to HNL for 12,500 points, which we think was a bargain, especially over the holiday season!

I wouldn’t use those points for cash to buy merchandise—I like the extended warranty from using a CCard, plus any other perks.

donfairplay
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Re: Chase points - what's the point of buying gift cards

Post by donfairplay » Fri Nov 09, 2018 4:18 am

ascension wrote:
Fri Nov 09, 2018 1:57 am
whodidntante wrote:
Fri Nov 09, 2018 1:21 am
Some people like to use the Sapphire Reserve for travel redemptions at a higher point value. I have more points than I can realistically use so I tend to take the money. But I wouldn't buy merchandise with points. Do it as a normal purchase, so you can get extended warranty, points, and any other benefits that your card offers.
I just checked website.

Apparently you can either get

$1 cash from 100 points

Or $.80 from Amazon gift card from 100 points

Why would anyone choose gift card over hard cash (which is value $1 vs 80cents of Amazon)

Something must be amiss.... or are chase guys out of their minds?
Not everyone has a Chase bank account to exchange points for cash transfer, I think its $25 or more for a check?

Also, amazon is $1 in gift card for 100 points.

Some of the gift cards will go on sale in UR for less than $1/100 points. Home Depot (and many other different stores) gift cards are 10% off if you redeem $25 or more.

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Re: Chase points - what's the point of buying gift cards

Post by vtMaps » Fri Nov 09, 2018 5:45 am

ascension wrote:
Fri Nov 09, 2018 1:57 am
Why would anyone choose gift card over hard cash (which is value $1 vs 80cents of Amazon)
Something must be amiss.... or are chase guys out of their minds?
It's the Chase Intelligence Test, as explained here:
donfairplay wrote:
Fri Nov 09, 2018 4:18 am
Some of the gift cards will go on sale in UR for less than $1/100 points. Home Depot (and many other different stores) gift cards are 10% off if you redeem $25 or more.
The optimist proclaims that we live in the best of all possible worlds; and the pessimist fears this is true. --James Branch Cabell

Trism
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Re: Chase points - what's the point of buying gift cards

Post by Trism » Fri Nov 09, 2018 7:43 am

If you have the Sapphire Reserve the points are worth $0.015 each toward travel when redeemed through the Chase travel portal.

Within the past couple of weeks they've replaced Connexions as their travel site vendor with Expedia, which has dramatically expanded the options for redeeming.

Transferring the points to travel partners can yield you much more than $0.015/point if you know what you're doing (although there's a learning curve which may not be worth your time).

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Re: Chase points - what's the point of buying gift cards

Post by mmmodem » Fri Nov 09, 2018 7:45 am

I always take the statement credit for the simple fact that purchasing the item with the credit card will earn more rewards points.

Jags4186
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Re: Chase points - what's the point of buying gift cards

Post by Jags4186 » Fri Nov 09, 2018 7:52 am

If you want to use the points for purchase then cash them out and then buy the phone. This way you can shop through a cashback portal plus get cashback via the spend. There is no point in using points towards merchandise. Chase allows you buy directly at Amazon for $0.008/pt because they hope some nitwit actually does so, saving Chase $0.002/pt.

If you are not someone who flies business or first class then the only way to get really good value out of Chase UR is to transfer them to Hyatt. It's an extremely rare occurrence that you will get a "good" redemption on flights in economy. Otherwise you're getting $0.015/cp through the portal and it's really somewhat less than that because you can always find travel discounted elsewhere.

RickBoglehead
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Re: Chase points - what's the point of buying gift cards

Post by RickBoglehead » Fri Nov 09, 2018 8:14 am

At some point, Chase gave a premium for Amazon. That went away.

For those that advocate the purchase of gift cards, keep in mind that purchasing with a credit card will both a) earn points on the purchase and b) provide an extended warranty... Citi's cards add a 2 year warranty to almost everything.

I have a lot (46,207) of Chase points built up (card is used only for the quarterly 5% categories) because I haven't found a redemption method that yields a premium. Every time I check, I see no premium that appeals to me, but will be watching closely this holiday season.

Current discounts:

10% off - Google Play, Kohl's, Home Depot, Saks Off Fifth, REI, Lowe's, Panera, Chili's, Bath & Body Works, Hello Fresh, Lord & Taylor, Nike, Happy Eats, Ulta Beauty, Spotify, Barnes & Noble, Wayfair, Microsoft Xbox, Atom Tickets, Build-A-Bear Workshop, The Children's Place.

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Re: Chase points - what's the point of buying gift cards

Post by MikeG62 » Fri Nov 09, 2018 8:53 am

ascension wrote:
Fri Nov 09, 2018 1:13 am
I am planning to buy Iphone 8 as a gift to myself. (My iphone 6 is breaking down unfortunately)

I am wondering if there is any benefit to buying an iphone directly through chase ultimate rewards?

I have around 60000 points worth $600.

I can either directly buy from apple through chase (where 100 points still has a value of $1)

or

I can simply get a cashback of $600 and buy from apple or third party store myself (ex. refurbished)

Is there any benefit of choosing the former over the latter?
I would not use Chase Ultimate Reward Points at 1 cent per point. That is just not a good deal.

For example, I recently used Chase UR points by transfer to Hyatt at a CB value of over 10% for a trip DW and I are taking next week (30,000 points generated by charging $10,000 to CSR card fully paid for the $1,100 cost of two night hotel stay in downtown Washington DC).
Real Knowledge Comes Only From Experience

Nate79
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Re: Chase points - what's the point of buying gift cards

Post by Nate79 » Fri Nov 09, 2018 9:02 am

MikeG62 wrote:
Fri Nov 09, 2018 8:53 am
ascension wrote:
Fri Nov 09, 2018 1:13 am
I am planning to buy Iphone 8 as a gift to myself. (My iphone 6 is breaking down unfortunately)

I am wondering if there is any benefit to buying an iphone directly through chase ultimate rewards?

I have around 60000 points worth $600.

I can either directly buy from apple through chase (where 100 points still has a value of $1)

or

I can simply get a cashback of $600 and buy from apple or third party store myself (ex. refurbished)

Is there any benefit of choosing the former over the latter?
I would not use Chase Ultimate Reward Points at 1 cent per point. That is just not a good deal.

For example, I recently used Chase UR points by transfer to Hyatt at a CB value of over 10% for a trip DW and I are taking next week (30,000 points generated by charging $10,000 to CSR card fully paid for the $1,100 cost of two night hotel stay in downtown Washington DC).
Holy cow! You would seriously pay $1,100 for two nights in DC?

DiMAn0684
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Re: Chase points - what's the point of buying gift cards

Post by DiMAn0684 » Fri Nov 09, 2018 9:04 am

MikeG62 wrote:
Fri Nov 09, 2018 8:53 am
ascension wrote:
Fri Nov 09, 2018 1:13 am
I am planning to buy Iphone 8 as a gift to myself. (My iphone 6 is breaking down unfortunately)

I am wondering if there is any benefit to buying an iphone directly through chase ultimate rewards?

I have around 60000 points worth $600.

I can either directly buy from apple through chase (where 100 points still has a value of $1)

or

I can simply get a cashback of $600 and buy from apple or third party store myself (ex. refurbished)

Is there any benefit of choosing the former over the latter?
I would not use Chase Ultimate Reward Points at 1 cent per point. That is just not a good deal.

For example, I recently used Chase UR points by transfer to Hyatt at a CB value of over 10% for a trip DW and I are taking next week (30,000 points generated by charging $10,000 to CSR card fully paid for the $1,100 cost of two night hotel stay in downtown Washington DC).
I agree with you, but you do need to have a card that allows point transfers to make use of that.

To answer OP's question, best course of action between two choices he presented would be to take the cash and buy the phone with a credit card that might provide some additional purchase protection and cashback. With that said, as others pointed out, that's a rather poor use of UR points and you'd be giving up at least $300 worth of value by doing this redemption.

MikeG62
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Re: Chase points - what's the point of buying gift cards

Post by MikeG62 » Fri Nov 09, 2018 9:15 am

Nate79 wrote:
Fri Nov 09, 2018 9:02 am
MikeG62 wrote:
Fri Nov 09, 2018 8:53 am
ascension wrote:
Fri Nov 09, 2018 1:13 am
I am planning to buy Iphone 8 as a gift to myself. (My iphone 6 is breaking down unfortunately)

I am wondering if there is any benefit to buying an iphone directly through chase ultimate rewards?

I have around 60000 points worth $600.

I can either directly buy from apple through chase (where 100 points still has a value of $1)

or

I can simply get a cashback of $600 and buy from apple or third party store myself (ex. refurbished)

Is there any benefit of choosing the former over the latter?
I would not use Chase Ultimate Reward Points at 1 cent per point. That is just not a good deal.

For example, I recently used Chase UR points by transfer to Hyatt at a CB value of over 10% for a trip DW and I are taking next week (30,000 points generated by charging $10,000 to CSR card fully paid for the $1,100 cost of two night hotel stay in downtown Washington DC).
Holy cow! You would seriously pay $1,100 for two nights in DC?
$550 a night for a hotel room in an upscale hotel in a good location does not strike me as a lot of money. We are traveling with friends so that somewhat limited choice. Having said that, we choose hotels based upon quality and location first and then price. Many (most) on this site choose based upon price first, second and third. While we share the Booglehead philosophy of low cost index based investment, we are not frugal - we never have been. Lived below our means while working and now living up to the level of our means in retirement.
Real Knowledge Comes Only From Experience

Nate79
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Re: Chase points - what's the point of buying gift cards

Post by Nate79 » Fri Nov 09, 2018 9:19 am

MikeG62 wrote:
Fri Nov 09, 2018 9:15 am
Nate79 wrote:
Fri Nov 09, 2018 9:02 am
MikeG62 wrote:
Fri Nov 09, 2018 8:53 am
ascension wrote:
Fri Nov 09, 2018 1:13 am
I am planning to buy Iphone 8 as a gift to myself. (My iphone 6 is breaking down unfortunately)

I am wondering if there is any benefit to buying an iphone directly through chase ultimate rewards?

I have around 60000 points worth $600.

I can either directly buy from apple through chase (where 100 points still has a value of $1)

or

I can simply get a cashback of $600 and buy from apple or third party store myself (ex. refurbished)

Is there any benefit of choosing the former over the latter?
I would not use Chase Ultimate Reward Points at 1 cent per point. That is just not a good deal.

For example, I recently used Chase UR points by transfer to Hyatt at a CB value of over 10% for a trip DW and I are taking next week (30,000 points generated by charging $10,000 to CSR card fully paid for the $1,100 cost of two night hotel stay in downtown Washington DC).
Holy cow! You would seriously pay $1,100 for two nights in DC?
$550 a night for a hotel room in an upscale hotel in a good location does not strike me as a lot of money. We are traveling with friends so that somewhat limited choice. Having said that, we choose hotels based upon quality and location first and then price. Many (most) on this site choose based upon price first, second and third. While we share the Booglehead philosophy of low cost index based investment, we are not frugal - we never have been. Lived below our means while working and now living up to the level of our means in retirement.
Unfortunately many people make the mistake of valuing points as whatever the list price of a hotel/flights/etc that they use the points for yet would actually never pay that much for the item. In this case for example if you would not have purchased the room @ $550 but could have gotten it cheaper or would have stayed at a cheaper hotel the points were not actually valued at the $550/night valuation. This is a common mistake and has been written about extensively by the points sites.

In your case it sounds like you would have paid that much so it doesn't apply to you.

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Re: Chase points - what's the point of buying gift cards

Post by jeffyscott » Fri Nov 09, 2018 9:26 am

MikeG62 wrote:
Fri Nov 09, 2018 8:53 am
I would not use Chase Ultimate Reward Points at 1 cent per point. That is just not a good deal.

For example, I recently used Chase UR points by transfer to Hyatt at a CB value of over 10% for a trip DW and I are taking next week (30,000 points generated by charging $10,000 to CSR card fully paid for the $1,100 cost of two night hotel stay in downtown Washington DC).
I have been taking the cash. Without the CSR card, there is no ability to transfer and there does not seem to be any way to get more than 1 cent per point for them.

In the past, when we had the CSR card, I have gotten better value by transferring to Southwest (value 1.6-1.7 cents per point) or United (I value that at about 1.2-1.5 cents per point). I had let points pile up on Freedom cards for a few years, figuring we might do a CSR again and want to transfer. But now that the opportunity cost is, perhaps, 3.5% per year or more, I have just been taking statement credits or cash. Plus we can just do another round of Southwest, United, and CSR cards to generate points if needed.
press on, regardless - John C. Bogle

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Re: Chase points - what's the point of buying gift cards

Post by MikeG62 » Fri Nov 09, 2018 9:27 am

DiMAn0684 wrote:
Fri Nov 09, 2018 9:04 am

I agree with you, but you do need to have a card that allows point transfers to make use of that.
Fair point.

OP would be far better off in the future using a straight up 2% CB card. His 60,000 points would have generated $1,200 in CB with a 2% CB card.
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Thegame14
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Re: Chase points - what's the point of buying gift cards

Post by Thegame14 » Fri Nov 09, 2018 9:29 am

each month they also have special categories which are 5% cash back, and each month some of the giftcards are 10-20% off. In those cases it is better than cash.

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Re: Chase points - what's the point of buying gift cards

Post by jeffyscott » Fri Nov 09, 2018 9:31 am

Nate79 wrote:
Fri Nov 09, 2018 9:19 am
Unfortunately many people make the mistake of valuing points as whatever the list price of a hotel/flights/etc that they use the points for yet would actually never pay that much for the item. In this case for example if you would not have purchased the room @ $550 but could have gotten it cheaper or would have stayed at a cheaper hotel the points were not actually valued at the $550/night valuation. This is a common mistake and has been written about extensively by the points sites.

In your case it sounds like you would have paid that much so it doesn't apply to you.
While, I'd likely not value a night anywhere at $550 and know nothing about hotel costs in DC, I would guess that effectively paying $150 per night (including tax) there is a good deal.
press on, regardless - John C. Bogle

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Re: Chase points - what's the point of buying gift cards

Post by DiMAn0684 » Fri Nov 09, 2018 9:36 am

jeffyscott wrote:
Fri Nov 09, 2018 9:26 am
MikeG62 wrote:
Fri Nov 09, 2018 8:53 am
I would not use Chase Ultimate Reward Points at 1 cent per point. That is just not a good deal.

For example, I recently used Chase UR points by transfer to Hyatt at a CB value of over 10% for a trip DW and I are taking next week (30,000 points generated by charging $10,000 to CSR card fully paid for the $1,100 cost of two night hotel stay in downtown Washington DC).
I have been taking the cash. Without the CSR card, there is no ability to transfer and there does not seem to be any way to get more than 1 cent per point for them.

In the past, when we had the CSR card, I have gotten better value by transferring to Southwest (value 1.6-1.7 cents per point) or United (I value that at about 1.2-1.5 cents per point). I had let points pile up on Freedom cards for a few years, figuring we might do a CSR again and want to transfer. But now that the opportunity cost is, perhaps, 3.5% per year or more, I have just been taking statement credits or cash. Plus we can just do another round of Southwest, United, and CSR cards to generate points if needed.
CSP and Ink Preferred also allow point transfers.

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Re: Chase points - what's the point of buying gift cards

Post by fujiters » Fri Nov 09, 2018 2:16 pm

supalong52 wrote:
Fri Nov 09, 2018 2:13 am
I transfer my Chase points to United. Probably worth 2 cents a point, so more valuable than the cash value. Amazon value is terrible.
This is a much better use for them than gift cards/cash back, assuming you travel frequently enough that you're using points faster than accumulating. UR points can also be transferred to Southwest for ~1.7¢/point redemptions.

Transferring to Hyatt tends to give ~2¢/point, depending on the specific hotel being booked.

Unless your travel costs are already covered by some other means, I wouldn't redeem for cash back or anything less than 1.5¢/point.
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Re: Chase points - what's the point of buying gift cards

Post by latesaver » Fri Nov 09, 2018 2:35 pm

HIinvestor wrote:
Fri Nov 09, 2018 2:28 am
I tend to gift our Chase Sapphire points to D, who used them to buy airplane tickets. This allows her a lot of flexibility and to book at close to last minute without much penalty.

For example, she’s purchased one way ticket LAX to HNL for 12,500 points, which we think was a bargain, especially over the holiday season!

I wouldn’t use those points for cash to buy merchandise—I like the extended warranty from using a CCard, plus any other perks.
i have the sapphire reserve; amex platinum; and other top tier cards.

i have never placed any faith in the insurance (warranty) offered by these cards.

does anyone have experience that it's legit?

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Re: Chase points - what's the point of buying gift cards

Post by Nate79 » Fri Nov 09, 2018 2:55 pm

latesaver wrote:
Fri Nov 09, 2018 2:35 pm
HIinvestor wrote:
Fri Nov 09, 2018 2:28 am
I tend to gift our Chase Sapphire points to D, who used them to buy airplane tickets. This allows her a lot of flexibility and to book at close to last minute without much penalty.

For example, she’s purchased one way ticket LAX to HNL for 12,500 points, which we think was a bargain, especially over the holiday season!

I wouldn’t use those points for cash to buy merchandise—I like the extended warranty from using a CCard, plus any other perks.
i have the sapphire reserve; amex platinum; and other top tier cards.

i have never placed any faith in the insurance (warranty) offered by these cards.

does anyone have experience that it's legit?
I have used the extended warranty on AMEX cards a couple of times and it has worked flawlessly.

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Re: Chase points - what's the point of buying gift cards

Post by Trism » Fri Nov 09, 2018 7:29 pm

Nate79 wrote:
Fri Nov 09, 2018 2:55 pm
latesaver wrote:
Fri Nov 09, 2018 2:35 pm
HIinvestor wrote:
Fri Nov 09, 2018 2:28 am
I tend to gift our Chase Sapphire points to D, who used them to buy airplane tickets. This allows her a lot of flexibility and to book at close to last minute without much penalty.

For example, she’s purchased one way ticket LAX to HNL for 12,500 points, which we think was a bargain, especially over the holiday season!

I wouldn’t use those points for cash to buy merchandise—I like the extended warranty from using a CCard, plus any other perks.
i have the sapphire reserve; amex platinum; and other top tier cards.

i have never placed any faith in the insurance (warranty) offered by these cards.

does anyone have experience that it's legit?
I have used the extended warranty on AMEX cards a couple of times and it has worked flawlessly.
It's worked well for us too. Recently my father's computer stopped working about a month after the warranty expired. I took it in to a repair shop for an estimate, submitted the estimate and a claim to Amex, and Amex refunded the entire purchase amount in under a week.

Also had luggage that failed on its maiden trip, and Macy's was giving me a hard time with the return. Filed a claim with Amex, and got a refund from Amex within days. I don't recall if I even had to fill out a form... if memory serves I did all of this over the phone.

The latter example is return protection coverage, which is different, but Amex is really good with these types of protections IME.

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Re: Chase points - what's the point of buying gift cards

Post by MikeG62 » Sat Nov 10, 2018 10:36 am

Nate79 wrote:
Fri Nov 09, 2018 9:19 am

Unfortunately many people make the mistake of valuing points as whatever the list price of a hotel/flights/etc that they use the points for yet would actually never pay that much for the item. In this case for example if you would not have purchased the room @ $550 but could have gotten it cheaper or would have stayed at a cheaper hotel the points were not actually valued at the $550/night valuation. This is a common mistake and has been written about extensively by the points sites.

In your case it sounds like you would have paid that much so it doesn't apply to you.
Yes, debate does not apply to me.

Setting that aside, calling it a "mistake" would imply that there is one universal definition of assigning value to points, which as far as I can tell there is not - just opinions and views.

I do agree BTW that I would not use "list price or rack rate" in the comparison. However, using lowest advertised price (what one would actually pay if paying by CC) seems like a fair "compare to".

Calculating value per point by comparison to what a different (i.e., budget) hotel would charge seems like comparing apples and oranges. After all, hotels are all not equal. There are differences between budget, mid-level and high-end hotels. Having stayed in all hotel categories over my adult life, my perspective is based upon my own personal first hand experience. In addition to differences in the overall quality of the hotel, there is also often a difference in the quality of the nights sleep (bedding) and also differences in location. Higher-end hotels generally being in more desirable locations, as well as possibly within walking distance to major attractions (whereas a budget hotel may require a car ride to get to where you need to go).

Some people (not wrongly in my view) use points to pay for things they'd prefer not to pay in cash. Nothing wrong with that and doing so should not diminish the value proposition. A $500 or $1,000 a night hotel room is still a $500 or $1,000 a night hotel room regardless of the method of payment used. The value of points used for a stay at the Ritz Carlton, for example, should not be determined based upon the cost of the Super 8 motel or Holiday Inn a few miles away. Nor would it be reasonable to calculate the value of points used to stay on mountain at a high-end ski resort to staying in a hotel 5 miles away and having to drive to the mountain every day. I've done both, they are not the same thing.
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Re: Chase points - what's the point of buying gift cards

Post by willthrill81 » Sat Nov 10, 2018 10:37 am

mmmodem wrote:
Fri Nov 09, 2018 7:45 am
I always take the statement credit for the simple fact that purchasing the item with the credit card will earn more rewards points.
Ding, ding, ding! :thumbsup

Unless we're getting at least a 5% discount on gift cards that we know for a fact that we'll use, we always opt for cash back.
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Re: Chase points - what's the point of buying gift cards

Post by jeffyscott » Sat Nov 10, 2018 11:17 am

willthrill81 wrote:
Sat Nov 10, 2018 10:37 am
mmmodem wrote:
Fri Nov 09, 2018 7:45 am
I always take the statement credit for the simple fact that purchasing the item with the credit card will earn more rewards points.
Ding, ding, ding! :thumbsup

Unless we're getting at least a 5% discount on gift cards that we know for a fact that we'll use, we always opt for cash back.
That's a good point, we get 2-5% cash back on everything (and actually as much as 10% with Discover right now as they are going to double my rebate this year). We only do gift cards with Discover rebates, as there is a bonus of 10-20%.

For hotels, if you have their credit card the points earned for using that plus the regular loyalty points can have a value of 10-15% of what you pay for the room. That's in the range of typical room taxes, so I guess when doing a comparison using points to using dollars, ignoring the tax would be a quick way of roughly accounting for that.
press on, regardless - John C. Bogle

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Re: Chase points - what's the point of buying gift cards

Post by MRMN » Sat Nov 10, 2018 11:26 am

The points are free money, if you spend wisely on stuff you'd buy anyway (not because you're incentivized to spend).

Personally, I take the free money cash back each month and apply it to my mortgage principal balance....even if it's only 10 or 20 bucks.

Is the phone something you need, something you'd already buy even if the points weren't an option? Likely yes. If that's the case, pay for it and don't let the allure of spending money to get money sway your decision. But, at least use the Chase card to buy the phone and get more cash back.

Would you consider points for your utility bill, or your groceries? I'd put phone or phone bill in the monthly utilities category of what I'd already be spending money on, so don't offset it with a cash back promotion...cause that's what it is, a promotion to get you to spend more.

Put the free money to work for you.

LarryAllen
Posts: 1131
Joined: Fri Apr 22, 2016 9:41 am
Location: State of Confusion

Re: Chase points - what's the point of buying gift cards

Post by LarryAllen » Sat Nov 10, 2018 11:29 am

Or maybe spend $800 for the Iphone Xr. It's the newest one. Longer battery life and water proof. I moved from a 7 to the Xr and really like it so far. It's $250 cheaper than the first X model (whatever it's called).

ascension
Posts: 47
Joined: Tue Jul 11, 2017 8:20 pm

Re: Chase points - what's the point of buying gift cards

Post by ascension » Sat Nov 10, 2018 1:24 pm

So the conclusion is

1. Just do cashback.

2. Get Citi Double Point instead of Chase

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