topic Re: Lower redemption amount in The Lounge

Lower redemption amount

Dolphin12 — Thu, 11 Jul 2024 18:19:09 GMT

Would it benefit you to have a variety of redemption amounts?

I would like to see lower amounts for those who would like to cash in more frequently. For example cash in at $5 & $10.

On the flipside, perhaps some would like to cash in with higher amounts. For example cash in at $25 & $30.

Could the system be set to cash out in 5 or 10 dollar increments? Or better yet offer the incremental amounts plus an option for the customer to fill in an amount based on what's in "their rewards bank".

Re: Lower redemption amount

SpeakingTruth — Thu, 11 Jul 2024 18:22:47 GMT

Unfortunately, that's too much work for our team.

Re: Lower redemption amount

Dolphin12 — Thu, 11 Jul 2024 18:24:50 GMT

@SpeakingTruth what do you mean? Initial it would take some programming but once implemented it would change.

They could even leave it at $15 but add a radio button of sorts for us to fill in the amount we want to cash in.

Re: Lower redemption amount

Phil_Adelphus — Thu, 11 Jul 2024 18:48:33 GMT

@Dolphin12 For example cash in at $25 & $30.

You can already do $30 although it means redeeming 15 points twice. Lower amounts than 15 points can be redeemed but only for add ons. If you don't need add ons that's not much help.

Re: Lower redemption amount

golfball — Thu, 11 Jul 2024 19:13:07 GMT

Restricting bill credits to only increments of 15 is most likely a purposeful decision to slow down the rate of redemption and increase friction. There's no incentive to make it easier.

Re: Lower redemption amount

ottawa — Thu, 11 Jul 2024 20:55:03 GMT

Not going to happen. The goal (for the vendor) is to leave Points (money) on the table. Taking a year (on a hypothetical $25 plan) to earn enough to redeem for bill credit means if you bail for a great deal, you're leaving on average $7.50 on the table (anywhere from $0 to $15).

Or put another way, how would that be better for PM?

Re: Lower redemption amount

Dolphin12 — Thu, 11 Jul 2024 21:09:35 GMT

@ottawa never say never. A company can introduce new things at anytime. We have seen this in the past with the reintroduction of plans ($34 US/CAD plan).

I'm trying to be optimistic by throwing it out there.

Re: Lower redemption amount

Dolphin12 — Thu, 11 Jul 2024 21:11:53 GMT

@golfball I'm hoping that the Oracles see this post and perhaps bring it up during a conversation. Change is inevitable I'm hoping this suggestion will one day become reality. If you don't put it out there it will never happen.

Re: Lower redemption amount

Dolphin12 — Thu, 11 Jul 2024 21:13:24 GMT

@Phil_Adelphus I get that it can work by redeeming points as you pointed out I was simply suggesting having this done in one transaction towards a reduction in price.

Re: Lower redemption amount

EB0 — Thu, 11 Jul 2024 23:32:30 GMT

@Dolphin12

I don’t think it’s going to be implemented anytime soon.

Re: Lower redemption amount

Dolphin12 — Thu, 11 Jul 2024 23:34:46 GMT

@EB0 maybe not but it doesn't hurt to put the thought out there.

Re: Lower redemption amount

Anton_jk — Thu, 11 Jul 2024 23:37:30 GMT

I think this is a great idea. Being able to redeem sooner than later would be great.

Re: Lower redemption amount

anotheran — Wed, 17 Jul 2024 02:04:44 GMT

I wish! But it's a marketing gimmick to force you stay a little longer to accumulate to 15 points and visit the web page