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Cash out MR (USA) at $0.0125 per point good value?

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Cash out MR (USA) at $0.0125 per point good value?

   
Old Apr 26, 2016, 9:25 pm
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Cash out MR (USA) at $0.0125 per point good value?
why are people transferring MR to Schwab? I don't get that move. That seems like terrible value to me.
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Old Apr 26, 2016, 10:26 pm
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Originally Posted by TMM1982
why are people transferring MR to Schwab? I don't get that move. That seems like terrible value to me.
It's Ok value - better than gift cards and Amazon - but it's really, really convenient.

Sometimes, convenience is worth the cost.
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Old Apr 27, 2016, 8:07 am
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Originally Posted by TMM1982
why are people transferring MR to Schwab? I don't get that move. That seems like terrible value to me.
Because people have very healthy balance of MR and other points, acquire points faster then they can spend it, and can obtain high value from other points.

Or because high value award availability is limited and difficult to secure for parties larger than 2.
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Old Apr 27, 2016, 11:26 am
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Originally Posted by TMM1982
why are people transferring MR to Schwab? I don't get that move. That seems like terrible value to me.
Because why would anyone stockpile a devaluing currency?
Last edited by mia; May 1, 2016 at 4:58 pm Reason: Prune after copying from another thread.
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Old Apr 29, 2016, 10:22 pm
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Originally Posted by DrForce
...the ability to cash out your MR for 1.25 cpp.
which is a terrible value as MR are worth more than 1.25 cpp. Especially if one is using MR for F airfare.
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Old Apr 30, 2016, 3:39 pm
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Originally Posted by TMM1982
why are people transferring MR to Schwab? I don't get that move. That seems like terrible value to me.
Originally Posted by TMM1982
which is a terrible value as MR are worth more than 1.25 cpp. Especially if one is using MR for F airfare.
As someone mentioned earlier, if you have a large number of points this is one of the best ways monetize those points. I have over 10M points and use about 1M points per year on airfare and hotels, but that still leaves me with a hefty balance. I just redeemed 2M points for $25,000 cash with this card. A hell of a lot better than gift cards or any other non-travel redemption.
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Old Apr 30, 2016, 5:10 pm
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Originally Posted by corbing
I just redeemed 2M points for $25,000 cash with this card. A hell of a lot better than gift cards or any other non-travel redemption.
I guess different strokes for different folks. I would have preferred to transfer 300k to KrisFlyer and get 2 roundtrip F tickets to Japan which is worth about the 25k that you got by redeeming your 2M points.
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Old Apr 30, 2016, 6:59 pm
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Originally Posted by TMM1982
I guess different strokes for different folks. I would have preferred to transfer 300k to KrisFlyer and get 2 roundtrip F tickets to Japan which is worth about the 25k that you got by redeeming your 2M points.
There is the convenience factor. With my travel needs, I don't really have the luxury to plan for award availability. If I need the tickets, I need them now and points just won't cut it. A 12k deposit is worth more to me then the mil points sitting around doing nothing.
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Old May 1, 2016, 8:59 am
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Originally Posted by TMM1982
I guess different strokes for different folks. I would have preferred to transfer 300k to KrisFlyer and get 2 roundtrip F tickets to Japan which is worth about the 25k that you got by redeeming your 2M points.
That assumes that I want or need to go to Japan. I already spend about 1M points per year on airfare and hotel. I just got back from China a couple days ago. I don't have any need or desire to go to Japan. And, even if I had a desire, spending 300k points still leaves me over 10M points sitting around doing nothing and doesn't solve my "problem".
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Old May 1, 2016, 2:18 pm
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Originally Posted by TMM1982
I guess different strokes for different folks. I would have preferred to transfer 300k to KrisFlyer and get 2 roundtrip F tickets to Japan which is worth about the 25k that you got by redeeming your 2M points.
Unfortunately ,for some, life is'nt just about traveling on F class tickets. Also , unless you are willing to pay 25K in cash if it weren't for the award tickets, that's not the value you derived.
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Old May 1, 2016, 4:33 pm
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Originally Posted by runnnerdude2k2
Unfortunately ,for some, life is'nt just about traveling on F class tickets. Also , unless you are willing to pay 25K in cash if it weren't for the award tickets, that's not the value you derived.
I don't necessarily agree with that logic. While I wouldn't spend the 25k, I get to potentially treat myself and a significant other to a posh flying experience that I would never have been able to enjoy otherwise. There is significant value in that even if I would never have done so while paying straight cash.
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Old May 1, 2016, 4:34 pm
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Originally Posted by corbing
That assumes that I want or need to go to Japan. I already spend about 1M points per year on airfare and hotel. I just got back from China a couple days ago. I don't have any need or desire to go to Japan. And, even if I had a desire, spending 300k points still leaves me over 10M points sitting around doing nothing and doesn't solve my "problem".
Japan was just an example.
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Old May 1, 2016, 5:19 pm
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Its not horrible value... But I have sold a couple million miles to "points brokers" in the past and the rate was 1.275. Its not a huge difference but 1. when you are dealing with a LOT of points then it adds up and 2. It was actual money
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Old May 1, 2016, 5:43 pm
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I sitting back and waiting for a real life flyertalk member who transfers a significant amount of MR and see if they get a 1099 for 2016.
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Old May 1, 2016, 5:58 pm
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Originally Posted by corbing
... I just redeemed 2M points for $25,000 cash with this card.
Originally Posted by Centurion
I sitting back and waiting for a real life flyertalk member who transfers a significant amount of MR and see if they get a 1099 for 2016.
See you both in February?
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