Question about MyPoints

[Svenson]

Is there any advantage to waiting on "cashing in" your MyPoints? For example, I plan on using all my points toward WebCertificates. Should I cash in my points as soon as I reach 3,500, or should I "stockpile" the points and then request several WebCertificates at once. I'm brand new at this, and just wondered if there are reasons why I should wait.

Thanks for your help!

 

[macs4us]

There really is no advantage to wait after you have 3500 mypoints if you are cashing out for webbies. Especially since mypoints parent is United - you never know what can happen if you wait (like how I lost a ton of miles with the "old" clickrewards).

 

[Svenson]

I didn't realize that MyPoints was owned by United! I better go cash out RIGHT NOW!
Thanks, macs4us!

 

[mazzarafe]

I would say that the only advantage to waiting has to depend on when you plan on using your webbies. I know that if you get a webbie and the account is inactive for so long, I think it might be 3 months, then they start to deduct fees.

I know I'm waiting to have enough to put a hotel deposit down at Universal. But, Mypoints itself has no other benefits to waiting to cash out for a webbie past the 3500 points.

If you are planning on just using the webbies for online purchases than it won't hurt to cash in, but if your hording yours like I am mine with a certain dollar amount in mind it is a good idea to wait, IMHO.

Hope I helped, haven't had my coffee yet!

 

[mad4themouse]

From Webcertificate.com's FAQs:

Does it expire?
Your Webcertificate Account expires THREE YEARS from the date it was claimed. However, if there's still a balance in your account at the three-year mark, we'll extend your expiration date.
Some "special offer" Webcertificates expire 6 months after activation. This will be indicated on the Webcertificate.

We'll send you a friendly email reminder one month prior to your Webcertificate expiration date.

Please review our Disclosures and Fees for more information.

And from their Fees and Disclosures Page:

Account Dormancy Fee* $3.00

*Account Dormancy Fee: A fee will be applied to Inactive** accounts after the 6 month anniversary date. The charge will be recurring each month unless the account becomes active or the balance of the account is $0.00.
Inactive**- An account which meets the following criteria:

• It's been 6 Months since the last Webcertificate was claimed to the account.
• There have not been funds added to your Webcertificate Account in last 90 days
• There have not been a purchase made with your Webcertificate in last 90 days

So, you can cash out and add webbies to your account whenever you wish as long as the account remains "active" and has a balance. You only need to add funds claiming a webbie every 90 days or make a purchase within that 90 day period in order to keep it active and avoid the dormancy fee.

The webbies only expire after a period of 3 years (with the exception of promotional webbies) and they will extend your expiration date if the account is active.

My advise would be to cash out whenever you reach the level of points you need. Rewards programs are famous for raising the cashout levels without prior notice or going under without warning. Your webbies will be safe if you do this. I have been doing rewards programs for more than 4 years with no problems with any webbies expiring or my account becoming dormant.