New MyPoints Mastercard
 

For any of you who used to use the MyPoints NextCard before they went belly up, I see that they've done a deal now with Citibank.

However, it doesn't look too good. You can beat offered 1pt/$2 with many other rebate cards, such as the Chase i-card, US Bank REI card, etc.

And do not forget:

1. 0% balance xfer for 12 months
2. NO annual fee
3. 750 Points for getting the card

I am not applying right now, but I might in the future, for the 0% if nothing else.

And let's not also forget:

It's only 1 point per $2 spent. It could be argued that one MyPoint is worth less than your average frequent flyer mile, so why isn't it 2 points per $1 spent.

And with the way MyPoints closes accounts when you try to redeem something, then give you nothing, when they see something they don't like in your MyPoints activity, makes this card a worse choice. All your loyal charging on this card may end up getting you nothing in return.

I would say stick with an airline point or cash rebate card. I wouldn't touch the MyPoints card with a ten-foot pole.

I'm surprised at the negative reception to the MyPoints card. By my figuring, the payback ranges from 3-5%, depending on the cashout item.

I was under the impression that cashback cards pay at most 2%. Am I wrong in that belief?

The risk is greater than the reward. Weak sign-up bonus. Arbitrary suspension of accounts. Etc.

I am not worried about MyPoints so far, yes they do have problems with posting points to your account sometimes, and accounts being locked, well, let's say that sometimes we all try to Maximize their points.

The only problem that I have with the new card is for HHonors points. I use MyPoints and convert them, and with the HHonors card I get 2 points per $, with this one I only ger .5 per $. I am getting 25% of what I could get using the HHonors CC.

That is my only beef with it, I might get it later, but they have to improve that ratio.



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Moderator: OMNI and S.P.A.M.

Well...most of us don't have this problem.

quote:
<<Originally posted by atlauren:
I'm surprised at the negative reception to the MyPoints card. By my figuring, the payback ranges from 3-5%, depending on the cashout item.>>

How do you come up with 3-5%. I come with something less than 1/2%. For example, it takes 1,400 points to get a $10 Walmart card. It takes $2,800 spent to earn 1,400 points. $10 rewards for $2,800 spent is around .35%. Maybe you have your decimal point off by a factor of 10.

Whoops, you're right. Bad math.
<gilda radner>
Never mind!
</gilda radner>