After paying my Capital One credit card off I noticed on the statement that I had accumulated a number of points. The points could be redeemed for merchandise, or gift cards or cash at the rate of $1 per 100 miles/points etc. I had enough points to redeem for a Eureka Tent.
Eureka Grand Manan 9 Tent – CP01379
in Outdoor Recreation
Product Description:
Eureka Grand Manan 9 Tent Eureka! Grand Manan 9 is an all-weather dome style tent that sleeps up to five. The fly vestibule can be configured in multiple ways including awning and it has two large, side-opening D-style doors with Hi/Low venting offer entry and an access to the rear vestibule. There are eight interior pockets that help organize small items, a freestanding fiberglass frame with clips, pole sleeves, and ring and pin assembly make set up easy. Floor size is 9′ x 9′ with 6′ center height. Tent weighs 21 lbs. 7 oz. Model No: 2601202
32,000 miles (equal to $320)
Now this seemed like a slam dunk. A good Name Brand base camp tent, with no cash out of my pocket. I almost hit the REDEEM button then and there.
Then I noticed the Cash option. I could take the Rewards as cash so long as I had at least 5000 miles/points ($50). So I searched for that tent on line and found it from a variety of online retailers for quite a bit less.
Amazon.com New No tax + Free shipping $235.64
Cabela’s New No tax + Shipping: $5.00 $254.99
Campmor New No tax + Free shipping $259.97
Keenzo.com New $202.08
MJ Tactical Outpost New $180.13
There was nearly $100 difference between the average online price, and the REWARDS value. So beware of inflated rewards merchandise values. Your local retailers that accepted the card, actually paid the fee that the rewards percentage comes from. So take the cash from the credit card company and buy something from that retailer and both of you will be money ahead!
Alternatively, If you have a credit card balance, you may be able to apply your rewards to that balance. This is the best return on that money since it saves you the APR for that amount of principle over the next year. While paying off a credit card is the best method, using rewards over your payment actually saves you money in the long run.
Say for example you have a $1000 balance on your credit card, with a minimum payment of $35. If you have 5000 reward points, you could apply $50 to your balance over and above your minimum payment. That $50 goes against your principle and saves you $9 annually on an 18 % APR balance. That is an 18% return on investment. Better than any stock pick out there!
So keep this in mind when you get these reward cards. If it seems too good to be true, then it is..










Chad Robvold, of