Good afternoon everyone, happy Labor Day Weekend! This post may not be very exciting, but the principles behind this post are useful. Let me explain…
When US Bank converted my US Bank Radisson Rewards Credit Card into the US Bank Altitude Go Credit Card, I used it for a few weeks before deciding that I wanted to product change to another US Bank Cash+ Credit Card (for the 5% cash back categories). At the time, I had 31 points on my Altitude Go, so if I had decided to close my credit card instead, I would have lost those 31 points (worth 31 cents). But instead, by product changing from one card to another, US Bank converted my unredeemed rewards into statement credit (31 points = 31 cents).
This is noteworthy because of the minimum redemption threshold normally required for the Altitude Go: “U.S. Bank points are worth a penny each when redeemed for options like cash back, travel, gift cards or merchandise, although minimum redemption requirements apply. (You need at least 2,500 points for cash back or gift cards; 1,000 points for travel or merchandise.)” US Bank has a similar minimum redemption threshold on the Cash Plus that went into effect on June 1, 2021.
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