Forum Discussion

Jerv3's avatar
Jerv3
Steady Solver
2 years ago

Points to dollars

Does anybody know the formula that is used to figure out how much money you make from the amount of points you make???

  • Under the new points system:

    If you are redeeming the $10 cash reward, it's $0.10 per point;

    If you are redeeming the $50 cash reward, it's $0.17 per point;

    If you are redeeming the $200 cash reward, it's $0.20 per point.

  • Jess's avatar
    Jess
    Bike Angels Team

    Hey there, Jerv3, with the original rewards structure, you'll start earning cash rewards after 210 points. 

     

    For every 10 points earned after 200 points, you'll receive $1.70 in cash rewards.  

  • Jerv3's avatar
    Jerv3
    Steady Solver

    I just found out today that I have the “old” version of the app. 

  • 2WG-4WB's avatar
    2WG-4WB
    Steady Solver

    ...and, based on the annual rate of $205, using points to extend you membership has a value of almost 20c/ point.

  • Under the new points system:

    If you are redeeming the $10 cash reward, it's $0.10 per point;

    If you are redeeming the $50 cash reward, it's $0.17 per point;

    If you are redeeming the $200 cash reward, it's $0.20 per point.

    • Jerv3's avatar
      Jerv3
      Steady Solver

      I am still on the OLD system 

    • Leslie52's avatar
      Leslie52
      Steady Solver

      Does that mean if you wait until you get to $200, you earn .20 for all 200, or is it like the tax system, where the first amount is taxed at a lower amount...and the subsequent points earn more?  

      And...if you are on the old app, you can only earn .17 points even if you earned 1000 points in a given month?

      • 2WG-4WB's avatar
        2WG-4WB
        Steady Solver

        If you redeem 1,000 points you get $200, so yes 20c for each of those points.