Best Way to Convert MR Points to Cash?
Jan 15, 2006 | 5:28 pm
#1
Original Poster
Join Date: Nov 2001
Location: Providence, RI -- AA EXP, AA 1mm Miler, CO Gold, DAL Gold, SPG Platinum, Hyatt Diamond, USAir Gold, Avis President's Club
Posts: 48
Best Way to Convert MR Points to Cash?
I have more than 600,000 MR points. I don't have much use for the gimmicks they offer and I have more American Airlines points than I know what to do with for traveling. So, I would really just like to convert my points to cash. Amex offers this but they charge 200-1 ratio. Meanwhile, you seem to be able to buy things like a Saks Fifth Avenue Gift Certificate at a 100-1 points-to-dollars ratio. What is the recommended way to convert points to cash at the best ratio? I am perfectly comfortable converting my points into, say, gift cards or merchandise and selling it on ebay. Just let me know the preferred route. Thanks.
Jan 15, 2006 | 7:50 pm
#2
Join Date: Jan 2004
Location: Louisville, KY, USA
Posts: 2,596
Cash back is at 200 points to the dollar or 0.5 cents per point. Gift cards such as some of those found at http://www.membershiprewards.com/Cat...n.aspx?clgid=3 are 100 points to the dollar. Some of retail including some cards are at 200 points to the dollar so beware.
Some very high end retailers like ESCADA offer $1,000 certificates for 100,000 points. That would buy a cute purse and maybe a pair of jeans. Saks also has a $1,000 certificate.
Don't rule out airline tickets. Where you have American Air points, Amex points offer you other choices as well. There may be places you want to go and cannot get to with American. Assuming that a business class ticket is usually worth $3,000 to $8,000 even if you have to use 160,000 to 250,000 each, you get more than 1 cent per point in value.
Consider gifting tickets to friends and family. You can collect friends in a hurry that way.
Good luck.
Some very high end retailers like ESCADA offer $1,000 certificates for 100,000 points. That would buy a cute purse and maybe a pair of jeans. Saks also has a $1,000 certificate.
Don't rule out airline tickets. Where you have American Air points, Amex points offer you other choices as well. There may be places you want to go and cannot get to with American. Assuming that a business class ticket is usually worth $3,000 to $8,000 even if you have to use 160,000 to 250,000 each, you get more than 1 cent per point in value.
Consider gifting tickets to friends and family. You can collect friends in a hurry that way.
Good luck.
Jan 20, 2006 | 4:11 pm
#5
Join Date: Apr 2005
Location: PHX
Posts: 3,794
They won't do that any more except by accident. All refunds are in the same form of payment as the purchase. You only get a cash refund if you originally paid cash. Gift card refunds are given as a new gift card.
Pretty much all retailers are operating this way to discourage fraud (or churning cards for miles
).
Pretty much all retailers are operating this way to discourage fraud (or churning cards for miles
).
Jan 25, 2006 | 3:54 pm
#7
Join Date: Dec 2005
Location: LGA
Programs: AA - GLD; MR - GLD;
Posts: 173
how about finding something you can use dont tell me there is not a single store u shop at?
I use my points for Banana Republic/Gap Gift cards and well pretty much my whole wardrobe has been coming from there. I avg about 3-5K a month in expenses so figure every 2-3 months i get a $100 gift card.
why get $90 to the $100 instead use that hundred to save some other place you would have spent.
I use my points for Banana Republic/Gap Gift cards and well pretty much my whole wardrobe has been coming from there. I avg about 3-5K a month in expenses so figure every 2-3 months i get a $100 gift card.
why get $90 to the $100 instead use that hundred to save some other place you would have spent.
Last edited by shocka; Jan 25, 2006 at 3:57 pm