Author Topic: How much do I owe my friend?  (Read 741 times)

Offline DR216

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How much do I owe my friend?
« on: January 25, 2019, 12:24:55 PM »
A friend sent me 16,182 Chase UR reward points, to book a hotel stay together. I had 8107 UR reward points. Combined, we had 24,289 miles. I transferred 24,000 points to Hyatt to book a room, as chase wanted 40,000 points for the same booking. But we were still 6k points shy of the 30k miles needed for the booking. So I bought 6,500 Hyatt points on sale for $120, and booked the room. I now have 500 remaining Hyatt points.

I'm trying to figure out how much I owe my friend after I send back their unused 182 Chase UR miles.

Any thoughts?

I'm guessing that there's probably no objective answer.

Thanks.

Offline momo

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Re: How much do I owe my friend?
« Reply #1 on: January 25, 2019, 12:30:01 PM »
A friend sent me 16,182 Chase UR reward points, to book a hotel stay together. I had 8107 UR reward points. Combined, we had 24,289 miles. I transferred 24,000 points to Hyatt to book a room, as chase wanted 40,000 points for the same booking. But we were still 6k points shy of the 30k miles needed for the booking. So I bought 6,500 Hyatt points on sale for $120, and booked the room. I now have 500 remaining Hyatt points.

I'm trying to figure out how much I owe my friend after I send back their unused 182 Chase UR miles.

Any thoughts?

I'm guessing that there's probably no objective answer.

Thanks.
I don't think you can send less than 1000 ,miles at a time.

Offline as2

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Re: How much do I owe my friend?
« Reply #2 on: January 25, 2019, 12:30:50 PM »
I don't think you can send less than 1000 ,miles at a time.
You can't transfer less than 1000 to a partner program, but you can transfer any amount to another UR account IINM
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Offline as2

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Re: How much do I owe my friend?
« Reply #3 on: January 25, 2019, 12:34:15 PM »
A friend sent me 16,182 Chase UR reward points, to book a hotel stay together. I had 8107 UR reward points. Combined, we had 24,289 miles. I transferred 24,000 points to Hyatt to book a room, as chase wanted 40,000 points for the same booking. But we were still 6k points shy of the 30k miles needed for the booking. So I bought 6,500 Hyatt points on sale for $120, and booked the room. I now have 500 remaining Hyatt points.

I'm trying to figure out how much I owe my friend after I send back their unused 182 Chase UR miles.

Any thoughts?

I'm guessing that there's probably no objective answer.

Thanks.

I would say your best bet is to wait till you have more UR, and send him back half the UR used for the booking, minus the 8107 you had, and have him send you $60 for the purchased points. Otherwise, you would need to come to an agreement on the value of UR and pay him for the the ones he laid out, minus the $60 for the purchased points.
Memories last forever, make them while you can.

Offline Seeker

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Re: How much do I owe my friend?
« Reply #4 on: January 28, 2019, 07:03:37 AM »
His 16K paid for 53% of the room, so 53% of what the room was worth to you. If you go by the sale rate you paid Hyatt, that would be $295, but you may not have felt it was worth that much if you had to pay cash for 16K + 6.5K.

Offline ADG

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Re: How much do I owe my friend?
« Reply #5 on: January 28, 2019, 12:38:54 PM »
Value UR @ 1.3 and Hyatt was bought @ 1.8.

Then just convert everything to dollars. He paid $208 you paid $224

You keep 500 Hyatt which is $9. You keep his 182 which is $2.3 so you are in 213 and he is in 208. You owe him 2.5 dollars roughly.

You should have just bought more UR for 1.3 instead of buying hyatt.

Whats next...

Offline DR216

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Re: How much do I owe my friend?
« Reply #6 on: January 29, 2019, 03:38:22 PM »
Thank you for taking out the time to help me with the math. Can you help me understand how you came up with the 1.3 and 1.8 figures? And by using your calculations, I was under the impression that my friend owes me a few dollars, if I'm in for $213 and they're in for $208.

Thanks again!

Offline ADG

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Re: How much do I owe my friend?
« Reply #7 on: January 29, 2019, 04:31:59 PM »
You are correct, I messed up the last part... He owes you a couple bucks...

1.3 is going rate for UR

1.8 is what you paid for Hyatt