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Anyone used Rewards2Cash.com?

ppysr 68 May 22, 2012 at 06:56 PM
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Just got an AMEX card a few months ago, and now have 75K points with the sign up promo. I was thinking about getting some gift cards with the points and sell the gift cards, but heard some people mentioning Rewards2Cash.com.

I never heard of the website before and their payout rate for points seems to be really good, have anyone used them before?

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Joined Feb 2011
I beat the Kobayashi Maru
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#211
Quote from kaiyang1 View Post :
sorry if i missed on a few posts, but if I remember right, chase was closing down accounts due to them being transfered to another chase UR account. Transfering to a United mileage account didnt raise any red flagas.

So far...
BUT according to the new T&C, you can only transfer points to a FF program of a Spouse/Domestic partner.
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#212
that's fine, I don't want to pay any PayPal fee. And a couple of people have told me they will not charge me. I am only looking for 1.25, though others say they will pay 1.4. Don't want to be greedy.
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#213
Quote from BUYSPGAMEXUR View Post :
That's not true. When I buy points/miles I send payment first and take care of paypal fee or at least disclose it to the selling party as part of the negotiation....
sorry misinterperated me Smilie
i mean saying these fees are unavoidable (someone has to take the charge) He won't be sending you a wire directly as gift or anything else is what im implying, because that gives him no security in case you run off
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#214
Quote from kaiyang1 View Post :
sorry misinterperated me Smilie
i mean saying these fees are unavoidable (someone has to take the charge) He won't be sending you a wire directly as gift or anything else is what im implying, because that gives him no security in case you run off
I completely agree with what you said! Smilie
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#215
guys, Bruce has stopped responding to my e-mails. Anybody had contact in last few days?
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#216
I am still bit confused and suspicious of this process? What do they do with the points? It seems they're paying lot more than the points are worth. Anyway, I have signed on for one big transaction. I hope it goes well and AMEX don't ban me.
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#217
Quote from bigballs View Post :
I am still bit confused and suspicious of this process? What do they do with the points? It seems they're paying lot more than the points are worth. Anyway, I have signed on for one big transaction. I hope it goes well and AMEX don't ban me.

Amex will sell you more points for 2.5 cents each, so why is 1.25 cents more than they are worth? I am guessing the brokers can easily sell the points for 1.7 cents.

What do they do with the points? They immediately transfer them to a customer's Frequent Flyer account, someone who wants a free flight or upgrade.
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#218
Quote from mitchflorida View Post :
Amex will sell you more points for 2.5 cents each, so why is 1.25 cents more than they are worth? I am guessing the brokers can easily sell the points for 1.7 cents.

What do they do with the points? They immediately transfer them to a customer's Frequent Flyer account, someone who wants a free flight or upgrade.
Wow. I didn't know that. Do AMEX really offer that much of a great deal on flight/travel? Maybe I will keep my points and use them. I was thinking only in terms of 50K points equal $500 GC.
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#219
I think they have specials and sometimes you can get 1.5 on British Air for every point from A.E. You have to google for that information. No question, if you travel or plan to fly in the next year or so, don't sell your points to a broker.
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#220
Quote from bigballs View Post :
I am still bit confused and suspicious of this process? What do they do with the points? It seems they're paying lot more than the points are worth. Anyway, I have signed on for one big transaction. I hope it goes well and AMEX don't ban me.
Quote from bigballs View Post :
Wow. I didn't know that. Do AMEX really offer that much of a great deal on flight/travel? Maybe I will keep my points and use them. I was thinking only in terms of 50K points equal $500 GC.

This is the way it works.


Example#1.
Say you have 160,000 Amex points. That's worth $1600 right? But now say, you transfer them to your Virgin America Frequent Flier account at 1:1 - you get 160,000 VA points. VA points can be converted to Hilton points at 1:2 so 160,000 becomes 320,000 points. Enough points for a 5 night stay at the Hilton Bora Bora [tqn.com]. Now say if this person has elite status...say, he's a diamond member and gets upgraded to a over-water villa, these cost about $2000 PER NIGHT.
So, for your 160,000 points, he's getting a 5 night value that costs $10,000. So if he pays you at 1.5 times = $2400, it's still a good deal.

Example#2.
Say you have 160,000 Chase Ultimate Rewards points.
Again worth $1600 if converted to cash.
If you transfer these to United Airlines at 1:1, then those 160,000 miles would be enough for a GlobalFirst [united.com] ticket from New York to London to Bombay to New York. This ticket is worth about $15,000.
So at 1.5 times $1600, if the broker pays you $2400, it's totally worth it.

Example#3.
Amex points to Singapore Airlines.180,000 miles for a Los Angeles to Tokyo to Singapore flight in their SUITE CLASS [google.com]! worth about $9000.

And the examples go on and on.
I NEVER recommend people to sell their points. Because
A. Don't think short-term about that $1000 you'll get. Think long-term about that once-in-a-lifetime trip that you'll take, flying first class and staying at the best resorts.

B. There will come a day when you'll definitely regret selling those points. Like I do...I sold about $4000 worth of points before I knew about all the free travelling!!!

P.S- Hilton has recently devalued their entire points system so after 03/28, the value of a lot of their higher end properties will cost almost double the points. Just in case, some one decided to call me out on that. laugh out loud But the example still stands.
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#221
Those are all excellent points you make but you need to understand that as someone who has bought tens of millions of points...many if not most people just don't travel-especially internationally where you can get higher value for your points. I completely agree with you that if you do travel and plan to travel in the next year (and not the next 3-5 years) then DONT SELL. But if you have no idea when you would travel or just stay local in America then it makes sense to sell your points no questions asked.



Quote from the.J129 View Post :
This is the way it works.


Example#1.
Say you have 160,000 Amex points. That's worth $1600 right? But now say, you transfer them to your Virgin America Frequent Flier account at 1:1 - you get 160,000 VA points. VA points can be converted to Hilton points at 1:2 so 160,000 becomes 320,000 points. Enough points for a 5 night stay at the Hilton Bora Bora [tqn.com]. Now say if this person has elite status...say, he's a diamond member and gets upgraded to a over-water villa, these cost about $2000 PER NIGHT.
So, for your 160,000 points, he's getting a 5 night value that costs $10,000. So if he pays you at 1.5 times = $2400, it's still a good deal.


Example#2.
Say you have 160,000 Chase Ultimate Rewards points.
Again worth $1600 if converted to cash.
If you transfer these to United Airlines at 1:1, then those 160,000 miles would be enough for a GlobalFirst [united.com] ticket from New York to London to Bombay to New York. This ticket is worth about $15,000.
So at 1.5 times $1600, if the broker pays you $2400, it's totally worth it.


Example#3.
Amex points to Singapore Airlines.180,000 miles for a Los Angeles to Tokyo to Singapore flight in their SUITE CLASS [google.com]! worth about $9000.


And the examples go on and on.
I NEVER recommend people to sell their points. Because
A. Don't think short-term about that $1000 you'll get. Think long-term about that once-in-a-lifetime trip that you'll take, flying first class and staying at the best resorts.


B. There will come a day when you'll definitely regret selling those points. Like I do...I sold about $4000 worth of points before I knew about all the free travelling!!!
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#222
Quote from BUYSPGAMEXUR View Post :
Those are all excellent points you make but you need to understand that as someone who has bought tens of millions of points...many if not most people just don't travel-especially internationally where you can get higher value for your points. I completely agree with you that if you do travel and plan to travel in the next year (and not the next 3-5 years) then DONT SELL. But if you have no idea when you would travel or just stay local in America then it makes sense to sell your points no questions asked.

Hey..don't think of this as criticism towards the business. This business exists because there are always people willing to sell points. And kudos to the people who make it work.
I just don't agree with you (or anyone else) saying that don't sell only if you're planning to travel within the NEXT YEAR...Ummm...Why? What if I'm travelling within the next 3 years? or more?
That's exactly what I meant about thinking long term.
I am in the process right now of accumulating points for my honeymoon (which will be sometime in 2015). I've got about a million hotel points and am slowly building my airline miles.


I refuse to believe that one will never use these points. It's just that there are so many people who have no idea what to use them for. Like my uncle, who annually redeems about $3000 worth of points for gift cards (!!!!!!) and then PAYS for his hotel stays. That's just insane. But, he has no idea about points and using them for elite stays etc.
And that's my point.
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#223
Quote from the.J129 View Post :
Hey..don't think of this as criticism towards the business. This business exists because there are always people willing to sell points. And kudos to the people who make it work.
I just don't agree with you (or anyone else) saying that don't sell only if you're planning to travel within the NEXT YEAR...Ummm...Why? What if I'm travelling within the next 3 years? or more?
That's exactly what I meant about thinking long term.
I am in the process right now of accumulating points for my honeymoon (which will be sometime in 2015). I've got about a million hotel points and am slowly building my airline miles.


I refuse to believe that one will never use these points. It's just that there are so many people who have no idea what to use them for. Like my uncle, who annually redeems about $3000 worth of points for gift cards (!!!!!!) and then PAYS for his hotel stays. That's just insane. But, he has no idea about points and using them for elite stays etc.
And that's my point.

Ill tell you exactly why- points get devalued ALL the time...your million point hotel stash will be worth much less in 2015 then it is today. Just look at Hilton. They raised the price of redemptions at their top properties by 95% just LAST WEEK. So now- instead of 50,000 points a room it will cost 95000 points a room. I can give examples of tens of programs that were seriously devalued this year. The point is- don't stack up on points beyone what you will use in the next 12-18 months.

This could really turn into a very long conversation but I recommend you look at redemption charts for airlines and hotels from the last few years and you will see that a mile in 2005 is worth like .3 of a mile in 2013.
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#224
Quote from BUYSPGAMEXUR View Post :
Ill tell you exactly why- points get devalued ALL the time...your million point hotel stash will be worth much less in 2015 then it is today. Just look at Hilton. They raised the price of redemptions at their top properties by 95% just LAST WEEK. So now- instead of 50,000 points a room it will cost 95000 points a room. I can give examples of tens of programs that were seriously devalued this year. The point is- don't stack up on points beyone what you will use in the next 12-18 months.

This could really turn into a very long conversation but I recommend you look at redemption charts for airlines and hotels from the last few years and you will see that a mile in 2005 is worth like .3 of a mile in 2013.

I kinda thought that's the reason you had in mind. And don't think I have anything against your business. I don't.
I do know about the hilton...which is why I added a footnote to my previous comment. Smilie
For the major part- if you know what you're doing, then stacking up doesn't hurt you any. My Hilton points have already been used to book hotels out into 2015 (seriously...screw Hilton.Mad)


I'll have to agree with you though on this point though that for MOST people hotel points and airline miles can't be hoarded. One devaluation and the value of your stack is halved.


But I was thinking primarily about UR points and Amex points when making that argument. Yes, devaluations happen but even after a devaluation, we both know that we could get SO MUCH more value out of 100,000 UR points than $1500.


But to be honest, after careful reconsideration, I think I'll have to agree with you. Most people who want to sell their points are people who aren't into the miles/points game anyway...So I guess, selling their points does make sense.


Cheers. Smilie
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#225
Quote from the.J129 View Post :
I kinda thought that's the reason you had in mind. And don't think I have anything against your business. I don't.
I do know about the hilton...which is why I added a footnote to my previous comment. Smilie
For the major part- if you know what you're doing, then stacking up doesn't hurt you any. My Hilton points have already been used to book hotels out into 2015 (seriously...screw Hilton.Mad)


I'll have to agree with you though on this point though that for MOST people hotel points and airline miles can't be hoarded. One devaluation and the value of your stack is halved.


But I was thinking primarily about UR points and Amex points when making that argument. Yes, devaluations happen but even after a devaluation, we both know that we could get SO MUCH more value out of 100,000 UR points than $1500.


But to be honest, after careful reconsideration, I think I'll have to agree with you. Most people who want to sell their points are people who aren't into the miles/points game anyway...So I guess, selling their points does make sense.


Cheers. Smilie

So the.J129, will you be my travel agent? Big Grin I have about 300,000 in UR and 100,000 in MR; get me that Bora Bora presidential suite!
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