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How do you spend your rewards points?
CFetters_Nacho_Lover
Moderator, Swaye's Wigwam Posts: 30,980 
I posted this on X/Twatters this week and @whlinder responded and I want to get a wider audience on this.
Mrs Nacho and I have differing perspectives on how we spend rewards points. I like to save them up until I get something for free. Whether it's the local ice cream place or Delta Airlines, I enjoy getting the reward of something free.
Mrs Nacho on the other hand, gets them and uses them. Her perspective is it doesn't matter if I save $2 on ice every other week or $12 on ice cream in 6 weeks, I'm still saving $12 over time. I agree with her that it is a 6 in one hand and half dozen in the other situation.
How do you spend your rewards points? 13 votes
Give me free ice cream
38%
5 votes
Give me $2
23%
3 votes
Janet Reno
7%
1 vote
Huh?
30%
4 votes
Comments
My 11th Poke Bowl is free and always tastes better than the 10 I paid for.
I only use a Costco rewards card. So once a year I get around $1,000 - 1,200 in cash back. A year ago I spent it on an LG OLED 65" tv.
I've got an alaska card I use predominantly and quite honestly, I should probably switch to a different rewards card that has cash back. All Amazon purchases are with an amazon card that gives 5% back, but I really should use it for other purchases. I figured I'd be jet setting but rarely have I found the deal of using points for flights is worth using. So I horde them.
Delta I wait. Credit card I'll piece meal it.
Heroin
This obviously is a topic that really bleeds over into credit cards and there a ton of great credit card rewards systems out there assuming you use your card wisely and pay it off monthly.
We have 4 different card accounts in the Nacho house:
Primary card is a Chase Sapphire. Costs $625 year but we get a $300 travel credit each year, it pays for one TSA PreCheck in a calendar year, and we get 1%-3% cash back. Over the last 8-9 years with this card, we’ve averaged a net $1200 annual in cash back.
Mrs Nacho and I each have Delta airlines AMX cards. Not sure if we’ll keep hers long term but she got 85,000 miles for signing up and spending their minimum requirement in the first 6 months. We both get free checked bags and 15% discount when using miles to book. I stopped short of getting their highest end card which as far as I could tell only adds the Delta Club as a perk and we don’t fly enough to need that.
A USAA visa that I haven’t used in 3 years. It’s there in case I develop a crippling drug addiction.
My general philosophy:
Money earns interest.
Points/credits/reward whatever does not.
IF there is a better value for a redemption at a higher level then it’s worth the saving up to redeem.
There is surely a behavioral Econ theory on this.
Churn credit cards and never pay for vacation again. Earn ‘em and burn ‘em.
Jennifer Garner of Capital One gives me a Yuge boner.
Well, if you look at like that, IOW strictly financial, then the time value of money suggests you get your free as early as possible, even if that means in increments, and you enjoy interest on the float of the money you didn't spend. If you save it up, then you are paying along the the way and miss out on the float.
Of course, any good Economis Prowess analysis would posit that you can factor in qualitative factors, or externalities, if you choose. Is it worth it to you to have the ice cream sooner? Do you enjoy the ice cream delayed that is 100% free more than the discounted ice cream that you can have now? I would imagine a fat fuck like you wants his ice cream now and that an ice cream delayed is an ice cream denied.
So, Janet Reno.
Most of the bills go onto an Alaska BofA card. Use the points for miles to travel around.
I have a specific Chase card just for Amazon purchases. I will delay shipping to get that 5% back. I will then use those points for either future purchases or apply to the balance.
the Costco points we get is about $48 a year which we agree go towards toilet Paper and paper towels whether we need them or not.
We aren’t hyper consumers and don’t buy a lot of shit. I have cleared out quite a few peoples homes that have way too much stuff.