Can anyone explain exactly how using points to cover travel purchases works. Have a hotel expense I'm looking to cover with points. I understand I would go on the portal to do so, and can cover all or part of a purchase at .01/point. Just trying to figure out how this works in practice.
For example, charge was billed, and the bill issued, so is part of my amount due for my next payment, on May 18, and I see the autopay scheduled. If I were to go in today, redeem points toward the purchase, what would happen? Does that credit reflect on my balance due on May 18, and will my autopay reduce automatically (or can I manually update the payment to reflect it without C1 thinking I didn't pay what I owe)? Not as familiar with how C1 does this - I know Chase reduces my payment owed for any sort of credit, if done after the statement is issued, but before that balance is due. Or does it show as a line item that can only be credited during my next statement, leaving me with a credit if that is bigger than the balance incurred on that statement. Also:
- I understand I have from 90 days from charge to decide on using points - is that correct?
- Let's say I decide, right now, to use 100K points to cover $1000 of a $1500 hotel purchase. Could I go back later, and use, say, 20K more points to cover an additional $200, or once I use points for part of a purchase, is that ineligible to use points towards again for the rest of the purchase
- how long does it take for the balance (of the card) take to reflect the points redemption (I assume the points balance goes down immediately on confirming use).
Any other anomalies I should think about when using points to cover travel purchases? Appreciate experience from those who have done this before.