So, I have a Scene Visa card (Canadian) which instead of giving me money, gives me points for which I can use for a variety of things, but the most common being movies. How do I figure out what percentage I'm getting back based on the cost of the movie?
So, if I spend $1000 I get 1000 points. It takes 1000 points for a movie ticket and the most expensive movie is $17.75 per ticket. How do I figure out what percentage of my $1000 is converting into cash for a movie ticket?
-- Edit / Response:
This question is more just so I'm making sure I'm calculating it right. Not so much of a comparison. Having said that, here's my responses.
Regarding there being a variety of options you can get with the points. This is partially true, although the other options obviously don't give the same return. For example, a $25 movie for 3000 (or more) points. But one thing I was remembering is that they have a package deal: 2 movies ($17.75 x 2 = $35.50) plus 2 drinks and a popcorn (probably about $16) for 2500 points. Total cost $51.50 / 2500 = 2.06%, so a bit better.
The in response to other cards: the problem I have with the cash back cards, at least for the ones available in Canada (and the ones I've found) is that they have a minimum (usually $1000) and a maximum (around $10 000) for when reweards start. For someone like me who puts over $30k a year on the card, $10k no longer makes sense even if the return is slightly higher. Another problem the cash back card I have is that it doesn't have a fixed return. Last thing I read it was between 1% and 1.75%. In my case, any time it drops below 1.5%, it's no longer worth it.
But in the end, for the Scene Visa card, because the best thing you can get out of it is movie tickets or movie package deals, it's not worth it if you don't go to the movies.