Miles and Points: Redeem for Experiences or Cash?

[AJK]

Nick at FM writes a thought-provoking article here: https://frequentmiler.boardingarea.com/is-it-now-irrational-to-hold-ultimate-rewards-points-on-nicks-mind/.

Ultimately, I've long ago came to the conclusion that syncs with one of his final paragraphs:

The truth is that I don’t want to redeem my points this way. I feel like I put in the effort to earn these points with the aim of traveling in comfort and style beyond what I’d mean to pay in cold hard cash.

 . . .

Granted, my points also represent the ability to save real cash. I know that here are times when I would otherwise spend $150 on a hotel room that I could snag with 5,000 or 7,500 points and times when the cash cost of a last-minute flight would make it impossible for me to “be there” (wherever there is) without a stash of points. I know that my points do represent an ability to save money on future trips and to stay in more luxurious hotels for a  very small premium over what I’d pay elsewhere.

I play this game to do both of those things: (i) travel in a fashion way above my station, and (ii) save cold hard cash in instances where miles substantially reduces the outlandish cost of close-in travel (though programs are doing they're hardest to slaughter that value).  I suppose my feelings might change if my life circumstances changed, and I suppose the number of points one has also may play a factor, i.e. perhaps if one has millions of points that he or she cannot use in the near future, perhaps it is wise to cash out some? For me, even though I do have millions, and even at 1.5 cpp, I still won't--I don't think.

How do you feel?

ETA: Added poll.

[CountValentine]

As long as the MS opportunity is still there I will cash out every chance I get.

[normathej]

Nick at FM writes a thought-provoking article here: https://frequentmiler.boardingarea.com/is-it-now-irrational-to-hold-ultimate-rewards-points-on-nicks-mind/.

Ultimately, I've long ago came to the conclusion that syncs with one of his final paragraphs:

I play this game to do both of those things: (i) travel in a fashion way above my station, and (ii) save cold hard cash in instances where miles substantially reduces the outlandish cost of close-in travel (though programs are doing they're hardest to slaughter that value).  I suppose my feelings might change if my life circumstances changed, and I suppose the number of points one has also may play a factor, i.e. perhaps if one has millions of points that he or she cannot use in the near future, perhaps it is wise to cash out some? For me, even though I do have millions, and even at 1.5 cpp, I still won't--I don't think.

How do you feel?

ETA: Added poll.

Ok, @AJK is on my list of most articulate ddfers, but "they're" and not "their"?  Sorry, pet peeve. 

[yungermanchik]

For me, it's less about the saving money aspect (don't get me wrong, it's about that too) and more about the acceptability of someone in my social strata taking "nice" vacations. When I say it was on points, it becomes more acceptable. Whereas if I save the money by using points on "basics", spending "all that money" on a vacation is suddenly seen as excessive. Not that it makes logical or financial sense, but that's how it is. 

[AJK]

Ok, @AJK is on my list of most articulate ddfers, but "they're" and not "their"?  Sorry, pet peeve.

Would you believe me if I said it was autocorrect's fault?

Apologies

[Dan]

For me, it's less about the saving money aspect (don't get me wrong, it's about that too) and more about the acceptability of someone in my social strata taking "nice" vacations. When I say it was on points, it becomes more acceptable. Whereas if I save the money by using points on "basics", spending "all that money" on a vacation is suddenly seen as excessive. Not that it makes logical or financial sense, but that's how it is. 

True story

[Dan]

There's also a DDMS poll at the end of this post:
https://www.dansdeals.com/credit-cards/now-live-will-pay-back-twice-dining-grocery-home-improvement-purchases-sapphire-preferred-sapphire-reserve-points/

[yungermanchik]

There's also a DDMS poll at the end of this post:
https://www.dansdeals.com/credit-cards/now-live-will-pay-back-twice-dining-grocery-home-improvement-purchases-sapphire-preferred-sapphire-reserve-points/

I didn't do your poll because https://forums.dansdeals.com/index.php?topic=116920.0  option 4

[Geshmak25]

This comes up every so often on ddf.

In fact, one of my first posts ever almost 6 yrs ago (omg) was about this very subject - https://forums.dansdeals.com/index.php?topic=45744.msg935159#msg935159

I have always been on the cash out side of the argument (unless there's a specific redemption that you have in mind that makes monetary sense).