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Cashing out rewards

November 24th, 2014 at 09:48 pm

Discover email about cashing out reward at any amount came at a most opportune time. It reminded me that most CCs have some sort of program with Amazon that allows for purchases with reward points. So in preparation for closing down several cards, that had a few points here and there, I linked them all to Amazon and bought gift cards for the same amount as the rewards. Managed to clear out $16.54 that I would have lost had I closed them as planned.

Citi sucked as usual with an exchange rate of 125 pts for $1.00. So instead of converting an existing card to the double cash back card, I've decided to wait for a sign up bonus to apply. In the mean time, I planned to make use of the quicksilver 0% APR until August 2015. This would actually be a better deal than paying up front and getting 2%.

My third card also came in, no credit score though. The card itself certainly felt more luxurious than the other two, however, it came in a flimsy envelope with the card numbers printed on the front page, right above the delivery address. Any one could simply tilt the envelope and look though the address window to see it. My envelope was torn...I wonder if any post office employee thought there might be stacks of bills in there.

2 Responses to “Cashing out rewards”

  1. creditcardfree Says:

    Good idea to cash out rewards for Amazon gift cards. I may need to do that soon with a few cards we have that have rewards below the threshold.

  2. Firstofmanysteps Says:

    Too bad Barclay doesn't join the Amazon shopping program Frown

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