How to calculate cents per point costs of points earned with RewardPay?

Credit Cards & Credit Card Programs
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Hi guys.

I want to ask (especially those who use rewardpay), the per point value which i am getting (using AMEX explorer card) is 1.32.
I want to ask am i doing the right calculation and the second thing is its worth ?
So people using reward pay, do they think this value is worth it (considering paying 2.4%+gst).
From point hacks, point value calculation, i think its around 2.0 per point value for ascent.
Hope to see replies soon.

Cheers.
Hassan.

Ps: if someone thinks that its too easy to answer, please refrain from commenting.

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Hi Hassan,

I don’t use Rewardpay myself but I will try and walk through the calcs as if I was.

So if I have read your question correctly, incl GST, you are paying 2.64% surcharge.

Imagine for a $1000 bill, you would have paid $26.4 to earn 2000 points through Explorer or 1000 points through Plat Edge.

Assuming MR Ascent points are worth 2 cents per point (cpp) and MR Gateway points are worth 1.5 cpp.

If your:

(1) Explorer earns into MR Ascent, you would have earned 2000 x 2cpp=$40

(2) Explorer earns into MR Gateway, you would have earned 2000 x 1.5cpp=$30

(3) Edge earns into MR Ascent, you would have earned 1000 x 2cpp=$20.

In comparison to your costs ($26.4), only case (1) and (2) makes financial sense.

Obviously, adjust your calculation with your owm valuation of the type of points you earn (works for QFF and Velocity too).

Hope that helps.

 

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