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Thanks. You make a good point about the rewards. I thought 1% could be a decent estimate given that not everyone pays attention, some points are never redeemed

Thanks. You make a good point about the rewards. I thought 1% could be a decent estimate given that not everyone pays attention, some points are never redeemed and rewards over 1% are usually only for specific purchase types (e.g., gas). But I may very well have underestimated this. And if people do redeem at a 90%+ rate, then they will definitely notice if there are no rewards on the Bitcoin side. Very interesting.

philrapo 13y ago
Here's a source for that stat from a Q3'12 AMEX earnings call transcript: "As you know, our current ultimate redemption rate is 93%, a very high assumption for any consumer loyalty program." [1] http://seekingalpha.com/article/931161-american-express-management-discusses-q3-2012-results-earnings-call-transcript?part=single http://seekingalpha.com/article/931161-american-express-mana...