FlyerTalk Forums - View Single Post - Cheapest way to turn ThankYou points to cash (liquidate retail store gift cards)?
Old Apr 6, 2015, 6:32 pm
  #8  
pinkie621
 
Join Date: Apr 2015
Posts: 14
Originally Posted by ILGfly
The better question is if what you wanted was cash back, why did you get a card with TYP rewards and not an actual cash back card?
I have already churned all of the "easy" cash-back bonuses.

Originally Posted by BeyondtheWrap
I'm guessing it's because there aren't many cash back cards with a $300 signup bonus.



Most stores will not allow you to purchase VGCs with a store gift card, but if you find one like that, that may be cheapest. However, you cannot use VGCs at ATMs. Instead, you'll have to either use the VGC to buy a MO or use it to load Serve or RB.

If you cannot buy a VGC, you can just sell the store card. Check here to see which gift cards have the best resale value.
Thanks BeyondtheWrap. I expect this to be the case - I don't want to be stuck with a retail gift card (or have to resell at low value - thanks for your link), but figured I'd ask since the point:dollar redemption rate is 1:1 for retail gift cards, so if this were possible, it'd be an efficient way to liquidate.

Originally Posted by deekay38
I have a Citi Forward and it offers a 1:1 redemption for a check to my mortgage company. I've only done it once since I don't MS on that card but it was painless. I did take it into a branch to deposit and the teller had to ask a manager what to do with it since it was a check written from and signed by Citi to Wells Fargo.
Interesting. Did you actually deposit the check to pay your mortgage? I paid off my mortgage last year... but if I could get Citi to send me a check addressed to my bank maybe my bank (capital one) would allow me to deposit it?? 1:1 is what I'm looking for.

Originally Posted by Tazzaras
Agree with above, you should have opted for Citi double cash, Amex fidelity, or even Cap One QS card if you were after cash back. These are just a few that give good overall return. There's others if you had specific goals in mind. TYP is more valuable as a travel currency at this point. Your best bet would be to just convert them for statement credit. No guarantee that getting a WalMart GC will let you buy a prepaid debit card or even VGC at Wal Mart. I asked an employee the other day and she said no you can not buy VGC with WMGC. So you may end up with a bunch of WM money esp if you don't spend there.
Thanks for your response. I do already have all of the credit cards you mentioned, I only signed up for this one for the bonus (which would equal 15% return if I can turn the 31,000_ points into $300). I don't plan to use the card after I reach the $2000 minimum spend.

Last edited by tcook052; Apr 9, 2015 at 3:42 pm Reason: readability
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