by Won H. L e e » February 12th, 2021, 1:14 pm
Kedar Dubhashi wrote: ↑February 11th, 2021, 6:00 pm
Won H. L e e wrote: ↑February 11th, 2021, 4:17 pm
Kedar Dubhashi wrote: ↑February 10th, 2021, 3:09 pm
I am hoping the experts here would advise us on the thoughts below.
What are the best redemption values for GR Wine Points? Is it Chris' fantastic glasses, ProofLoyalty? Something else?
I missed the BD12 boat for spending. What expenses are you putting on this card?
Some point systems allow combining points across multiple accounts. I was wondering if our friend Won H. Lee might be allowed to combine points across multiple accounts into a single one. It would be a great selling point for the card and make Won happy.
Best redemption value is to spend whatever points you have left and get out. The company just admitted that their point is valued at 0.004 cent per. They offer 5 points per dollar spent (thereby 2% return) on their partners, 1.2% return on other wineries, wine clubs, restaurants, deliveries, and 0.8% return on everywhere else, while charging $149 per year (After 1st yr). Heck, you can get Chase Sapphire preferred and get 2% return on all wineries, dining (including takeout) and still get 1% return on everywhere else, with annual fee of 99$. I can also explain why Amex Gold and Chase Reserve is better (Despite higher fees) but I don't want to expand into that.
Why would anyone even bother signing up for this card?
Won, I am not great at math as you are but I will try.
It's 5% with a partner + 2% with the merchant where you spent the most per billing statement.
It's 3% at wineries/wine.com etc + %2 just like above.
Done carefully, you would get 7% at a partner and 5% at wine.com per month -- which could net you 4.2 cents per dollar spent with a partner and 3 cents at wine.com. That beats Sapphire, IMHO. Also, beats Chase Sapphire Reserve + Freedom Unlimited which would give you 2.25 (1.5 x 1.5) cents per dollar spent. Let's not discount $550 yearly Reserve fees.
I have only scanned the catalog of goodies. Based on some examples, Riedel Sommelier glasses would give me .6 cents/point. ProofLoyalty is at .5 cents/point.
Hilton Honors program gives me .5 cents/point. So, this is in the ballpark for redemption, a little better actually.
I had not signed up for the previous program. I don't quite understand why you are so upset at .4 cents/point. It's not great like Hyatt at 1.8-2 cents/point but it's not too far off from Hilton. And it was for free!
My belief: this card would be useful for people who spend quite a bit on wines per year. If you spend $7500 per year at partners, you will come out ahead compared to Reserve. No?
except that's not how math works. Not all points are created equal, and GRW has specified that each point is worth 0.4 cents. Therefore, you get 7 POINTS (not dollars) at the max category listed above. 7 pts *.4 cents = 2.1 cents per dollar spend. and much less elsewhere. You may get a slightly better value by aiming for specific rewards as specified, but it isn't much.
Chase reserve is priced at $450 (they don't plan to increase the cost). but you get $300 back each year, anything that is considered a travel, including hotel/flight/rental car, so it's more of $150 per yr. + more benefit than what this card offers.
Also, YMMV but many wineries I have purchased counted as dining/travel, and thereby being credited with 3 points per dollar spent; heck even garagiste wine was considered food/drink purchase, and thereby earning 3 points. Each chase pt could be valued at 1.5 cent, so that's 4.5% return. What's better option then?
Look, I am not flaming their old program. I was a fan, signed up, enjoyed it. I get it that they don't make much $$ off of it compare to the credit card, but to give customer only short notice with expiration, so take it or leave it is what left bad taste in my mouth. It felt like they were trying to hook people onto service, and then switch bait to credit card.
[quote="Kedar Dubhashi" post_id=3199554 time=1613095236 user_id=29556]
[quote="Won H. L e e" post_id=3199492 time=1613089030 user_id=25332]
[quote="Kedar Dubhashi" post_id=3198535 time=1612998577 user_id=29556]
I am hoping the experts here would advise us on the thoughts below.
What are the best redemption values for GR Wine Points? Is it Chris' fantastic glasses, ProofLoyalty? Something else?
I missed the BD12 boat for spending. What expenses are you putting on this card?
Some point systems allow combining points across multiple accounts. I was wondering if our friend Won H. Lee might be allowed to combine points across multiple accounts into a single one. It would be a great selling point for the card and make Won happy.
[/quote]
Best redemption value is to spend whatever points you have left and get out. The company just admitted that their point is valued at 0.004 cent per. They offer 5 points per dollar spent (thereby 2% return) on their partners, 1.2% return on other wineries, wine clubs, restaurants, deliveries, and 0.8% return on everywhere else, while charging $149 per year (After 1st yr). Heck, you can get Chase Sapphire preferred and get 2% return on all wineries, dining (including takeout) and still get 1% return on everywhere else, with annual fee of 99$. I can also explain why Amex Gold and Chase Reserve is better (Despite higher fees) but I don't want to expand into that.
Why would anyone even bother signing up for this card?
[/quote]
Won, I am not great at math as you are but I will try. :)
It's 5% with a partner + 2% with the merchant where you spent the most per billing statement.
It's 3% at wineries/wine.com etc + %2 just like above.
Done carefully, you would get 7% at a partner and 5% at wine.com per month -- which could net you 4.2 cents per dollar spent with a partner and 3 cents at wine.com. That beats Sapphire, IMHO. Also, beats Chase Sapphire Reserve + Freedom Unlimited which would give you 2.25 (1.5 x 1.5) cents per dollar spent. Let's not discount $550 yearly Reserve fees.
I have only scanned the catalog of goodies. Based on some examples, Riedel Sommelier glasses would give me .6 cents/point. ProofLoyalty is at .5 cents/point.
Hilton Honors program gives me .5 cents/point. So, this is in the ballpark for redemption, a little better actually.
I had not signed up for the previous program. I don't quite understand why you are so upset at .4 cents/point. It's not great like Hyatt at 1.8-2 cents/point but it's not too far off from Hilton. And it was for free!
My belief: this card would be useful for people who spend quite a bit on wines per year. If you spend $7500 per year at partners, you will come out ahead compared to Reserve. No?
[/quote]
except that's not how math works. Not all points are created equal, and GRW has specified that each point is worth 0.4 cents. Therefore, you get 7 POINTS (not dollars) at the max category listed above. 7 pts *.4 cents = 2.1 cents per dollar spend. and much less elsewhere. You may get a slightly better value by aiming for specific rewards as specified, but it isn't much.
Chase reserve is priced at $450 (they don't plan to increase the cost). but you get $300 back each year, anything that is considered a travel, including hotel/flight/rental car, so it's more of $150 per yr. + more benefit than what this card offers.
Also, YMMV but many wineries I have purchased counted as dining/travel, and thereby being credited with 3 points per dollar spent; heck even garagiste wine was considered food/drink purchase, and thereby earning 3 points. Each chase pt could be valued at 1.5 cent, so that's 4.5% return. What's better option then?
Look, I am not flaming their old program. I was a fan, signed up, enjoyed it. I get it that they don't make much $$ off of it compare to the credit card, but to give customer only short notice with expiration, so take it or leave it is what left bad taste in my mouth. It felt like they were trying to hook people onto service, and then switch bait to credit card.