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Earning points and miles via the traditional method (actually staying in hotels or flying) is just one way to boost your account balance. Fortunately, travel providers make it relatively easy to accrue rewards without traveling, whether through top credit card offers or by utilizing shopping portals and dining rewards programs. You can also purchase points or miles directly from the hotel or airline.
IHG is running a “Cyber Week Special” for buying IHG points. Now through December 2, get a 100% bonus when you buy points. Unlike the most recent 100% bonus IHG promotion, this offer isn’t targeted and doesn’t require purchasing at least 15,000 points to get the 100% bonus. However, if you buy less than 26,000 points, IHG will charge a higher rate. You’ll pay just 0.575 cents per IHG point if you buy at least 26,000 points (52,000 total points after bonus).
Here are the sweet spots for this promotion:
- 5,000 purchased + 5,000 bonus = 10,000 points for $67.50 (0.675 cents per point)
- 11,000 purchased + 11,000 bonus = 22,000 points for $137.50 (0.625 cents per point)
- 26,000 purchased + 26,000 bonus = 52,000 points for $299 (0.575 cents per point)
Here’s how to take advantage of the promotion:
- Visit IHG’s Buy Points link.
- Enter your name, IHG number, PIN and email address to log in to Points.com.
- Select the number of points you want to purchase.
- Enter your credit card information and billing address and click Continue.
- Confirm the details, check the box to agree to the Terms and Conditions and click Pay Now.
Keep in mind that the usual restrictions for purchasing IHG Rewards points apply to these transactions, including:
- You can purchase points in increments of 1,000 points up to a maximum of 60,000 points per transaction/calendar year (you can also receive an additional 60,000 points per calendar year).
- The points will post within 24-48 hours and do not count toward earning elite status.
Note that the purchase is processed by Points.com, so you won’t get any travel category bonuses from this purchase. Make sure to use the best non-bonus category credit card for your situation. Based on TPG’s point and mile valuations, the Chase Freedom Unlimited‘s 1.5x Ultimate Reward points would be the most rewarding choice.
Is It Worth It?
It depends. TPG values IHG points at 0.7 cents apiece, and if you buy at least 26,000 points with this promo, you’ll be paying just 0.575 cents per point. This means you’re paying nearly 20% less than the value you could get from redeeming IHG points.
If you have upcoming travel, see if you can book a hotel for cheaper through buying and redeeming points than by paying for the hotel outright. If the cost is similar, note that it might be worth paying for the hotel in order to qualify for Accelerate promotion challenges. Also, IHG PointBreaks are an excellent use of these rewards. When purchasing points for 0.575 cents each, you’re paying less than $29 per night for a hotel room. However, note that the current IHG PointBreaks list is rather picked over.
IHG has been flooding the market with points thanks to consecutive 100% bonus offers, and it seems that 0.575 cents each has become the standard rate. Of course, there’s always a chance of a devaluation — so, don’t purchase points that you don’t expect to redeem soon.
H/T: One Mile At A Time
Will you be taking advantage of this bonus offer?
Featured image courtesy of the InterContinental Hanoi Westlake.
Chase Sapphire Preferred® Card
|Intro APR||Regular APR||Annual Fee||Foreign Transaction Fee||Credit Rating|
|N/A||16.24%-23.24% Variable||Introductory Annual Fee of $0 the first year, then $95||0%||Excellent Credit|