Points.com is now transferable to Paypal

Discussion in 'General Discussion | Miles/Points' started by Tiki, Feb 10, 2011.  |  Print Topic

  1. Tiki
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    Tiki Silver Member

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    I haven't checked the exchange rate but knowing Points.com it won't be good. But just an FYI:

    http://blog.points.com/2011/02/09/points-com-paypal-introduce-a-new-way-to-use-your-miles/

    Points.com and PayPal team up

    It’s been a big week here at Points.com. As of this week, Points.com users can now redeem Aeroplan® miles, American Airlines AAdvantage Miles® and US Airways® Dividend Miles® into their PayPal accounts through our new partnership with PayPal.
    At Points.com we’re always looking for new and innovative ways to help people use their points, miles and rewards. Our partnership with PayPal gives loyalty program members even more flexibility with their reward programs. Redeeming into PayPal is currently available for the Aeroplan, AAdvantage and Dividend Miles programs, but we will be rolling this feature for even more loyalty programs over the next few months.
     
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  2. Wandering Aramean
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    Wandering Aramean Gold Member

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    Perhaps the understatement of the week. Or of eternity if you look at the US rates:

    Bad:

    [​IMG]


    Worse:

    [​IMG]


    Simply unconscionable:

    [​IMG]
     
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  3. kyunbit
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    kyunbit Silver Member

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    Isnt this against the program rules?
     
  4. wanderlust
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    wanderlust Silver Member

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    I think Points.com works out agreements with the programs.

    So Points.com values US Airways miles at .08 cents each? Yikes! Wish I could buy them at that rate, a penny for 12 miles.
     
  5. iolaire
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    iolaire Gold Member

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    They guys over at FT in the 5,000 AA miles for CitiBank savings that recieved 1099's should use this as the cost for AA miles - its fairly clearcut that is what AA is willing to cash them out at, therefore it must be the cash value - $0.004 or 4/100's of a cent, not the 2 cents per mile that CitiBank reported.
     
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  6. Bobofoosh
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    Bobofoosh Silver Member

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    I didn't keep on that thread. This was an error and the 1099s were supposed to be ignored, right? I thought FF miles couldn't be taxed.
     
  7. Wandering Aramean
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    Wandering Aramean Gold Member

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    If you win them in a contest then the company providing them will assign them a value. If you earn them as a rebate for your travel then you don't declare income on them.
     
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  8. Bobofoosh
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    Bobofoosh Silver Member

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    Where does signing up for a bank account/credit card fall? I've never received a 1099 for opening a Citi bank account or credit card (Or Amex, Chase, etc...)
     
  9. iolaire
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    iolaire Gold Member

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    So far they (Citibank) are only sending them for Savings accounts.
     
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  10. joesmoe
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    joesmoe Gold Member

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    That usair quite is crazy.
     
  11. Bobofoosh
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    Bobofoosh Silver Member

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    Ah, good to know, thanks.
     
  12. WonderBret
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    WonderBret Silver Member

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    I have always placed less value on US than AA, but this is ridiculous. I wonder what they will value SkyPesos at [​IMG]
     
  13. joesmoe
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    joesmoe Gold Member

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    Probably not even available. Nobody would buy DL miles :p
     
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  14. WonderBret
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    WonderBret Silver Member

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    I dunno, I might pay 50, maybe even $60 for 250k SkyMiles. If I wait long enough I could redeem a coach domestic award.
     
  15. joesmoe
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    joesmoe Gold Member

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    lol. Yeah i'd be in for that price too.
     
  16. neil
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    neil Silver Member

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    Wow, that's highway robbery... way worse than the magazine subscription mailers they sometimes send out for expiring miles. And I can see people cashing in ("What the hell... the miles are gonna expire anyway.") Too bad we can't redirect everyone who tries to take advantage to the "How Do I Keep My Miles From Expiring?" thread.
     
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  17. Sean
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    Sean Gold Member

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    The sad thing is they're probably going to have >0 transfers from USAirways. All those miles going to waste....
     
  18. al613
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    al613 Silver Member

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    If everyone would be so smart you will not be able to redeem any F tickets ever.
     
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  19. neil
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    neil Silver Member

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    Haha, fair enough.
     
  20. darkhunter
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    darkhunter Silver Member

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    crazy about usair. I could atleast maybe maybe see someone using 1 of the other 2 if there
    was some case where they just were never going to earn in that program again and cash out.
    Of course now that I think about it I know with AA you can redeem for hotels and stuff so
    surely there's something better (value wise) to use miles on.
     
  21. Jenny & Curt
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    Jenny & Curt Gold Member

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    Gee, we can use our Dividend Miles to get Star Alliance Business class tickets USA to New Zealand with change left over, or $100 cash? Tough choice. "Honey, what do you think we should do?"
     
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  22. Tiki
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    Tiki Silver Member

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    That's basically what I said on the other thread! [​IMG] Those rates are insane!
     

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