FutureBillionaire wrote:Yes, I get the 5x points at Amazon. Some gift cards are 1 to 1, many are not. Also, you can get them applied to mortgages and student loans. I'm probably going to choose that option in the future.
Yes, it's a more complex redemption program than many others, with redemption rate depending on the category and the card.
With an additional card, such as the ThankYou Preferred, all points earned on the Forward can be combined and redeemed 1:1.
With just the forward, redemption is often less, but Student Loan and Mortgage are always 1:1. You call and they send to you a check made out to the financial institution (and it is your responsibility to send to the financial institution). For that reason, I would think the loan can be in anyone's name, they ask for the name and address of the institution, not the loan number for example!
Also, $100 gift cards seem to cost 10,000 (1:1) but many vendors seem to have a max of $50 gift cards, which cost 6,000 points.
So, at least without an additional card, the program is a little inconvenient compared to say statement credit, but it does give 5x on all restaurants (unlike Cash Plus, no separate Fast Food category), Amazon, and all bookstores/music/movies. Not the wow of the initial Cash Plus, but really not bad.