TromboneAl
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 30, 2006
- Messages
- 12,880
I'm looking at the WorldPoints catalog that came in the mail. With our Mastercard, we get one point for every dollar we spend. When we get 25,000 points, we can trade them in for a check for $250. That is, 100 points equals $1.
From the catalog, a $25 iTunes gift card costs 6,250 points. IOW, $62.50 for a $25 gift card.
I guess people go for this, because they are too impatient to accumulate 25,000 points, they see it all as free money, and/or they just haven't thought it through.
Similarly an 8GB iPod Nano goes for 32,000 points ($320) but only costs $179 on Amazon.com. Big "stupid" tax.
The 1% back must cost Mastercard a lot less than 1% to provide.
From the catalog, a $25 iTunes gift card costs 6,250 points. IOW, $62.50 for a $25 gift card.
I guess people go for this, because they are too impatient to accumulate 25,000 points, they see it all as free money, and/or they just haven't thought it through.
Similarly an 8GB iPod Nano goes for 32,000 points ($320) but only costs $179 on Amazon.com. Big "stupid" tax.
The 1% back must cost Mastercard a lot less than 1% to provide.