Redemption Philosophy
I see threads about all sorts of topics here, but I have never seen one that specifically addresses how we use points.
For instance, do you have a specific target for value per point redeemed? If so, do you typically use 5 for the price of 4, 7 night (or 5, if you're eligible) travel package redemptions, point savers and so forth?
Now what makes sense for one of us may not make sense for another for any number of reasons. I'm thus not looking for people to prove that what they do is "better" than what someone else does; I just want to hear what you do and hopefully learn something along the way.
I've done (or have booked) three redemptions over the past year:
NYC Edition on a point saver last year - I originally planned to do a travel package, but the point saver looked better to me. It worked out to better than 2 cpp plus an upgraded room.
Ren Phuket next month- done as a 7 night tp with 132K UA miles. This one will be at least 1.5 cpp
Courtyard Ogden in January - for a whopping 7,500 points I'll save $140.
Back to my original question, I don't redeem for less than 1.5 cpp. I've had a couple stays where I thought about redeeming, but the category seemed a little high relative to the cash price.
Anyway, I hope this topic can be helpful for many of us. This site has been incredibly valuable to me over the past several years and I'd like to see that be the case for everyone.