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Careful with the Citibank offer to convert to Thank You points on Amazon
Old 11-08-2019, 10:59 AM   #1
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Careful with the Citibank offer to convert to Thank You points on Amazon

Just a PSA. I received the attached email offer. Except they forgot to tell me that the $50 cash rewards magically become $40 on Amazon so your net gain with this offer is only $5 and only restricted to the 'sold by amazon' products. If you convert more points than $50 the return could be actually negative. There's also no way to convert the thank you points back to cash rewards either
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Old 11-08-2019, 03:59 PM   #2
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I avoid any scheme which gives me "points" instead of a cash value.

I know what cash is worth. I have no clue what a point is worth today, or if it will be worth the same tomorrow.

I suspect many of the credit card companies outsource their points game to some third party. Think about it. Someone ELSE is now in the loop making a profit, and selling your personal information on the side. How does that help YOU?

With an in-house cash rewards system, there's no cost beyond the computer program which automatically does the transfer.
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Old 11-08-2019, 09:02 PM   #3
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I generally avoid these conversions because you tend to get less than a 1-for-1 exchange. However, last year Hilton had a promotion where you got a bonus for converting airline points to Hilton Honors points. IIRC, it was a 20% bonus and I jumped on it.
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Old 11-11-2019, 10:30 AM   #4
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The points conversion was stated as $1=100 points. So you don't seem to lose any value converting to points on the surface but Amazon only wants to give you $.80 on the dollar for these Thank You points- which wasn't mentioned anywhere. For other things like miles, hotel points etc it might be different because I know a lot of people use them for those things.
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