Comment by function_seven | Hacker News Reader

Comment by function_seven | Hacker News Reader

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1. Makes sense. I have no idea how you can communicate that intrinsically in the data. Your explanation here would make a good landing page copy.

2. I was looking at this page (https://www.points411.com/p/chase-ultimate-rewards/). The heading on the first data column is "Exchange Rate (Point/Mile)" which I took to mean "Points per Mile", but now I'm realizing you meant "Point OR Mile". So that means 10 Chase points will get me 8 Amazon... "points"?

This is still a little weird, because I don't think I've ever heard of Amazon having "points". It's all just dollars. The useful ratio would be "100pt:80¢". I want to know how much money (or how many miles) my points are worth. I don't think I've ever seen a redemption at 2¢ per point, so the 20¢:8¢ thing doesn't help me in isolation. It only helps when comparing to other Chase:XXXXX ratios.

One idea: Instead of listing all ratios in common units on both sides of the ":", let the user select what they have and what they want. Something like:

    I HAVE ([]points   []miles) AND WANT ([]points   []miles   []dollars)

and list all the exchange rates only in the terms selected.

Different question: How do you determine the value of points in the first place? If the best I can do with my Chase points is 1.7¢ at Hyatt, then what can I do to get 2¢ of value from them? Some internal shopping thing?

Thanks for taking the time!

> "Exchange Rate (Point/Mile)" which I took to mean "Points per Mile",

I see... It's bad UI design from me :( Need to work on a less confusing copy/UI.

> This is still a little weird, because I don't think I've ever heard of Amazon having "points".

You can earn "Points" with Amazon branded cards, e.g., https://www.amazon.com/b/ref=s9_acss_bw_cg_swpsf20_2c1_w?nod...

100 Amazon Rewards Points = US $1

> One idea: Instead of listing all ratios in common units on both sides of the ":", let the user select what they have and what they want. Something like:

> I HAVE ([]points []miles) AND WANT ([]points []miles []dollars)

Yes, this is on the roadmap. We have already integrated most of the commonly used rewards programs (in USA) into our database. The logical next step is to develop a tool that allows conversions like this: X points from Program #1 can be converted into Y miles from Program #2, and so on.

> Different question: How do you determine the value of points in the first place? If the best I can do with my Chase points is 1.7¢ at Hyatt, then what can I do to get 2¢ of value from them? Some internal shopping thing?

It's a cold start problem.

In an ideal scenario, we would have access to a lot of real transactions, such as X miles being used to purchase an air ticket worth Y USD, allowing us to calculate the exact value of 1 mile in terms of USD.

However, as we are just beginning, we have no users to provide this data. Our path forward is clear:

Step 1: We create a database and use estimated point/mile values found online, such as those provided by The Points Guy. While not ideal, this approach provides a necessary starting point.

Step 2: Users will be able to create accounts to track their points/miles and input real-world transactions.

Step 3: In the future, when we have enough data, we will be able to aggregate and calculate a more accurate value for points/miles in terms of USD.

Currently, we are at Step 1 :)

> Step 1: We create a database and use estimated point/mile values found online, such as those provided by The Points Guy. While not ideal, this approach provides a necessary starting point.

If you're going to do this, you could at least cite the source of the values. I'm not seeing that on there.

That said, I find the values from TPG to be absolute junk, applicable only to those who would buy nothing in life but international first class airplane tickets and luxury hotel suites, and it's a disservice to pass them along as fact.

TPG is paid astroturfing by the banks and it exists to pitch cards and inflate consumer perception of the value of points. Disregard it.

If you want to use "reasonable" bootstrap values, I'd suggest using figures from Doctor of Credit, which is one of the few large blogs I actually trust.

On this topic:

https://www.doctorofcredit.com/common-loyalty-points-miles-v...

One of the arguments made in this article is that many brands effectively "sell" points (e.g. by offering double point nightly rates), and the points should NEVER be valued above this.

Specifically for MR points, they identify 1 cent as a "good" redemption and 0.85 as the "cash out" value:

https://www.doctorofcredit.com/loyalty-programs/credit-card-...

> TPG is paid astroturfing by the banks and it exists to pitch cards and inflate consumer perception of the value of points.

Source?

https://en.m.wikipedia.org/wiki/The_Points_Guy#Products_and_...

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