Originally Posted by
NatasNJ
Thanks.
ONly thing I don't get is the 7% annual bonus.
So if I spend $20000 a year on this card netting me 20000 UR points.
(assuming $1 to 1pt purchases)
Then at years end I get a 7% pt bonus? Is this correct? So that would be 1400 free pts? Or is it 7% aka 14000pts for free? No way they could do the latter.
I received 7% of all the points posted, including the bonus points I recevied at the time (25,000). So, in your example, you should receive 7% of (50,000 + 20,000) = 4900 points. So spend a bit more to make that 5,000 points, since points transfer in 1,000 point increments. (I leave it to you to do the algebra to figure out 1.07 times what = the extra needed 100. I retired from teaching the subject 15 years ago.)
The only caution on this is that they are not particularly prompt in posting the 7%. It took several months after the end of the year for me to see my bonus. And the card must be open to use the points. But the timing is perfect now. They should be well able to post the 7% between Jan 1 and May 20 of 2012, when you would have to pay the annual fee.