Ability to transfer points from other credit card rewards programs
4) Ability to transfer points from other credit card rewards programs
There are always lots of new and different trends in credit card reward and point programs as credit card companies compete for business in an increasingly competitive arena. It’s a jungle out there and so they really have to push to attract new customers – not to mention retaining their old ones!
A fairly new trend in credit card reward and point programs is the ability for credit card customers to transfer points. More often than not, if a certain credit card allows customers to transfer points from one credit card to another credit card then the credit cards are both from the same company, e.g., Chase Sapphire and Chase Freedom. Needless to say, transferring points means that customers can use their credit cards as required, and then benefit from point conversions optimum for their specific credit card. Then, what happens is, as you need to use your points you can transfer from one credit card to the other credit card in order to optimize just how the points work for you.
As well as allowing credit card customers transfer from one credit card to another credit card, many rewards programs will allow customers to transfer their credit card rewards points from a credit card to other reward programs such as hotel point programs and automobile rental and the like.
Of course, another transfer program that is really starting to become a lot more common is the new ability to transfer points between different credit card consumers, and then actually combine all the points for even more savings. For example, if you and one of your best friends both have a credit card that will allow you both to combine points with each other for, say, a fun vacation weekend somewhere hot and tropical. The great thing is that, while you both may not be able to benefit with your points separately, however, together you can use the points and then actually divide the remainder of the costs amongst yourselves.