If you are part of the Citibank Thank You Rewards program (many of their credit cards are part of this program), they will have select merchandise redemption promotions on Cyber Monday (December 1st, 2014). Of the ones shown on their website, the Nikon Coolpix L830 will be offered for 50% off in redemption points. Normally this requires 29600 points to be redeemed, which is very unfavorable considering the camera goes for $200 at Amazon and will go for $170 with freebies during Black Friday. However, on Cyber Monday, you can redeem this for half the points, so 50% of 29600 = 14800 = $148 equivalent assuming a 1:1 points to pennies ratio.
This turned into a long post (I need to stop reading GRRM, it worsens my sprawling writing “condition”), more after the break…
A good rule of thumb when redeeming credit card points is to go for a 1:1 ratio of reward points to pennies (real money) – or better (in your favor; eg more than 1 penny per point). So if you have enough Thank You Rewards available this beats the Black Friday prices! Plus you pay nothing out of pocket, no sales tax, no shipping, since this is a reward redemption, not a purchase. The money used to create the reward was quadruple-taxed already 🙂
PS #1: I don’t know if other cameras will participate. The only camera shown in their teaser is the aforementioned L830.
PS #2: this is a rewards redemption promotion. If you are not part of the Thank You Rewards program and you have enough points accumulated in your Rewards account, you cannot purchase this.
PS #3: if you are close, and your monthly statement cycle ends before December 1st, you can use your Thank You cards to make general purchases in order to build up enough points for the Rewards.
PS #4: why can’t I write simple, short blog-posts?
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