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One of the very best deals of 2012 was the short-lived Mypoints.com promo with OpenSky that resulted in 150 points per dollar for some high end purchases up to $500. This resulted in being able to redeem points for gift cards totaling more than what was spent on the merchandise. In an amazing twist, it turns out that new MyPoints members actually earned double points for a whooping 300 points per dollar. That easily meant that a $500 purchase resulted in about $1,200 worth of gift cards, or 70,000 MileagePlus miles.
I had actually joined MyPoints a while back (though had hardly used the account), so no double bonus for me, but I still was very happy with getting $500 worth of merchandise that I liked (though normally wouldn’t purchase) and enough points for $600 in gift cards to stores where I would have spent money anyway. So, basically I got some great cookware “for free” plus about $100 extra dollars in gift cards. I choose not to redeem for miles as I can get those other ways pretty easily these days through credit card sign-ups and spending. In this case I preferred gift cards to Hyatt ($450) and Pottery Barn ($150).
While it is way too late to get in on this deal, the point of this post is to remind others who got in on the deal to redeem their MyPoints. Call me paranoid, but I don’t trust their award chart or anything enough to just let the points sit there forever. It seems that some gift card redemption options go in and out of stock, so when you see your selections in stock it makes sense to go ahead and redeem (if you haven’t already). To do so, click on the rewards option on the upper right hand side of the screen.
If you haven’t already spent some time on the website, the different gift card options have variable redemption rates, and as the gift card denomination increases the deal typically gets a bit better. Macy’s has one of the most favorable redemptions, but I don’t have any specific needs from Macy’s right now, and am not interested in re-selling gift cards. So, I opted to get a slightly worse rate in order to get cards for places I would have spent cash anyway.
You also have to play around on the site some to actually find everything that is available. For example in some views it appears that there are not any $75 Hyatt gift cards available, but in another view I can see that they are and had no trouble placing the order.
It may/will take several weeks for the gift cards to get delivered, so don’t redeem points for them today expecting them to be in your hands to spend next week. I have Hyatt stays all the time, so whenever they arrive I will be able to put them to good use.
Have you redeemed your points? What did you get and how did the redemption process go for you?