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Old 02-08-2020, 07:42 PM
 
1,266 posts, read 833,991 times
Reputation: 245

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I searched and found two websites https://thepointsking.com/ & https://www.thepointstrader.com/

I would like to find a way to clean up my reward on below three cards:


1. Wells Fargo Cash Reward credit card: Balance is around $16 on Go Far Rewards, not able to redeem as cash when under $25. Plan to close this credit card. Filled out form on thepointsking, no response. I guess the amount is too small, or maybe the website only deals with points, not dollar reward.

2. American Express cash back credit card: around $19, same thing, not able to redeem since it is under $25. Plan to clean up the reward before closing the account. Filled out form on thepointsking, no response. I guess the amount is too small, or maybe the website only deals with points, not dollar reward.

3. Chase Freedom: Ultimate Rewards around 62000 points. I don't have Chase Sapphire Preferred($95 annual fee), if I have Chase Sapphire Preferred, the point can be worth 1.25 cents per point(when it is used for travel). I am thinking about selling the point at least 1.15 cents/point somewhere, not sure if thepointstrade.com is reliable.

So are there any other websites for trading small amount of credit card reward dollars? And what is a good way to trade 62000 Ultimate Rewards points. If I redeem it as cash, it is only $620. If a website can offer it at 1.1-1.15 cents per point, at least my points can be sold at higher than $620. But reliable website is important, I don't want to transfer all my points but receive no payment.

Thanks.

Edit: After searching further, I guess it is unlikely to trade small amount of rewards. Even if I want to transfer reward to third party website, it may also need to be at increment of $25.

Last edited by Baike; 02-08-2020 at 07:53 PM..
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Old 02-09-2020, 05:13 AM
 
Location: Seacoast NH
524 posts, read 166,439 times
Reputation: 506
You should read the terms for each of your cards. In most cases (if not all), it's a violation to sell or transfer rewards. The penalty could be the bank closing the account and you forfeiting all of the rewards.


Additionally, closing credit cards can seriously affect your credit score by messing up your utilization causing scores to drop. Better off to leave them open and just stop using them.
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