What To Know
- Cashing out points typically results in a loss of value compared to redeeming them for free nights or other experiences.
- Cashing out Marriott points can be a useful way to access immediate funds, but it’s important to weigh the pros and cons carefully.
- Can I cash out Marriott points for cash at the hotel.
Marriott Bonvoy points are a valuable currency that can be used to redeem free nights, flights, and other experiences. But what if you need cash instead? Can you cash out Marriott points? The answer is yes, but there are a few things you need to know.
Understanding Cash-Out Options
Marriott offers two main ways to cash out points:
1. Marriott Points Advance: This program allows you to borrow cash against your Marriott Bonvoy points. You can borrow up to 50% of your points balance, with a minimum withdrawal of 3,000 points. The loan term is 6 months, and you will be charged a 5% fee.
2. Points.com: This third-party website allows you to convert Marriott Bonvoy points into cash or gift cards from various retailers. The conversion rate varies, but it is typically around 1 cent per point.
Pros and Cons of Cashing Out
Pros:
- Immediate access to cash: Cashing out points can provide you with quick access to funds when you need them.
- Flexibility: You can use the cash for any purpose, including bills, emergencies, or personal expenses.
- No blackout dates: Unlike redeeming points for free nights, cashing out points is not subject to blackout dates or restrictions.
Cons:
- Loss of value: Cashing out points typically results in a loss of value compared to redeeming them for free nights or other experiences.
- Fees: Marriott Points Advance and Points.com both charge fees for cashing out points.
- Limited redemption options: Points.com offers a limited selection of cash-out options compared to Marriott Points Advance.
Best Ways to Cash Out
If you decide to cash out Marriott points, here are some tips to maximize your value:
- Use Marriott Points Advance: This program offers the highest conversion rate and the lowest fees.
- Consider gift cards: Points.com allows you to convert points into gift cards from popular retailers. This can be a good option if you have a specific purchase in mind.
- Wait for promotions: Marriott occasionally offers promotions that give you a bonus when you cash out points.
Alternatives to Cashing Out
Before you cash out Marriott points, consider these alternatives:
- Redeem for free nights: This is the most valuable way to use Marriott Bonvoy points. You can redeem them for free nights at Marriott hotels worldwide.
- Transfer to airline miles: You can transfer Marriott Bonvoy points to airline miles at a ratio of 3:1. This can be a good option if you want to use your points for flights.
- Donate to charity: You can donate Marriott Bonvoy points to various charities. This is a great way to make a difference while also earning tax deductions.
Final Note: Cashing Out Smartly
Cashing out Marriott points can be a useful way to access immediate funds, but it’s important to weigh the pros and cons carefully. By understanding the different cash-out options and using them wisely, you can maximize the value of your Marriott Bonvoy points.
Common Questions and Answers
Q: How many Marriott points do I need to cash out for $100?
A: Using Marriott Points Advance, you would need to borrow 10,000 points to receive $100.
Q: Are there any fees for cashing out Marriott points?
A: Yes, Marriott Points Advance charges a 5% fee, while Points.com charges a variable fee based on the conversion rate.
Q: Can I cash out Marriott points for cash at the hotel?
A: No, you cannot cash out Marriott points for cash directly at Marriott hotels.
Q: How long does it take to cash out Marriott points?
A: The processing time for Marriott Points Advance is typically 2-3 business days. Points.com conversions are usually processed within 24 hours.
Q: Can I cash out Marriott points for gift cards?
A: Yes, you can convert Marriott Bonvoy points into gift cards from various retailers using Points.com.
