Today, Ramp launched a rewards program with transferrable points for their card and spend management platform.
What was first reported last week by AwardWallet as a rumor, has now been confirmed. Earlier today, when I logged into the AwardTravel Ramp Account, I saw, for the first time ever, the ability to transfer your Ramp Rewards out to nearly a dozen travel partners.
Additionally, this is the first time I'm seeing the ability to redeem Ramp Points for over 200 retail partners' gift cards (though admittedly, I'm not sure if this is new -- I only redeem my Ramp Points for cash, so this may have been around for awhile).
Ramp is an all-in-one spend management platform for businesses. When you sign up for Ramp, you're issued a spending card, and also get access to their software that makes spend management incredibly easy.
The card that you're issued is a charge-card (the balance needs to be paid in-full every month) and Ramp dynamically changes your spending limit based on the balances in your linked business bank accounts. The more cash you have, the more they let you spend.
The Ramp card earns 1.5x back on everything with no category multipliers. Up until today, Ramp would let you redeem this for cash back towards a statement credit for the spending using your Ramp card. Now, there's the ability to use the cash-back in your account to pay for the monthly Ramp Plus membership (which is geared towards larger enterprise customers).
The software you're able to access, is undoubtedly the best out there. I've used Ramp for various businesses of mine over the years, and the software is really where Ramp shines. The Ramp platform makes it easy to have an all-in-one solution to manage all of your spend (including processing reimbursements if you put an expense on your personal card, or a non-Ramp business card), and syncing all of that to Quickbooks for easy accounting.
As mentioned above, until today, you earned 1.5x back on all purchases, which was only redeemable for cash. This morning, when I logged into my Ramp account, I saw the ability to transfer your rewards points to travel partners. The rewards partners that I currently see on Ramp are:
As you can see, these are not 1:1 transfer partners. This means that Ramp points have about 2/3rds of spending power of a traditional bank's currency (i.e. Amex MR or Chase UR) - or in other words, reversing the ratio, is 1 Ramp Point = 0.6667 Partner Points.
Ramp requires a minimum of 100 partner points (150 Ramp Points) to be able to transfer. As long as you transfer over 150 Ramp points you can transfer as many or as few points as you'd like (there is no incrementing to the nearest 1,000 points).
When I tried to transfer Marriott Points, it took about 40 minutes from the time I initiated the transfer before it showed up in my Marriott account. It's currently unclear how long it will take for other transfer partners.
This is significantly less lucrative as compared to Chase UR, Amex MR, as one Ramp point doesn't nearly get you as far. Additionally, those programs have significantly more transfer partners as compared to Ramp.
According to Ramp, "Every $100 spent on a Ramp card earns you $1.50 in cash-back or 150 Ramp points". This resembles the Chase Freedom Unlimited, whereby you as the cardmember get 1.5x cashback on everything, which can be redeemed for UR (if you have an Ultimate Rewards credit card) or cash. Ramp does not have category multipliers.
While Ramp doesn't have an official Sign Up Bonus, you can earn $250 back or 25,000 Ramp Points through a referral link, after your first $1,000 in spend. For your convenience, we've provided our referral link where you can get this bonus if you want to sign up for a Ramp card.
While the best use of your Ramp points are likely towards business travel, there are some great redemptions that might be worth saving up Ramp points for.
There are plenty of sweet-spots in the Avianca Lifemiles program.
Fly Transcontinental or East Coast to Western-Europe in AA Business/First (50,000 - 80,000)
Ramp is great for business owners who are looking for a great spend management platform. While I don't often use my Ramp card, as an optimizer looking to get maximum value from my spend, I use the software to help with reimbursements, accounting, spend tracking, etc almost daily.
For someone like me who optimizes and maximizes all of my spend, this rewards program is a bit underwhelming, due to the lack of transfer partners, and the lackluster value of a Ramp Point, at least comparing it to Amex MR and Chase UR.
However, if you're a business owner, and you are just looking for the easiest way to manage your spend, Ramp is certainly a great option. If you are going to pick up one of these cards, don't forget to use our (or your friends) referral link to get an exclusive sign up bonus of $250 back (or 25k Ramp Points) after your first $1,000 in spend!
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What was first reported last week by AwardWallet as a rumor, has now been confirmed. Earlier today, when I logged into the AwardTravel Ramp Account, I saw, for the first time ever, the ability to transfer your Ramp Rewards out to nearly a dozen travel partners.
Additionally, this is the first time I'm seeing the ability to redeem Ramp Points for over 200 retail partners' gift cards (though admittedly, I'm not sure if this is new -- I only redeem my Ramp Points for cash, so this may have been around for awhile).
Ramp is an all-in-one spend management platform for businesses. When you sign up for Ramp, you're issued a spending card, and also get access to their software that makes spend management incredibly easy.
The card that you're issued is a charge-card (the balance needs to be paid in-full every month) and Ramp dynamically changes your spending limit based on the balances in your linked business bank accounts. The more cash you have, the more they let you spend.
The Ramp card earns 1.5x back on everything with no category multipliers. Up until today, Ramp would let you redeem this for cash back towards a statement credit for the spending using your Ramp card. Now, there's the ability to use the cash-back in your account to pay for the monthly Ramp Plus membership (which is geared towards larger enterprise customers).
The software you're able to access, is undoubtedly the best out there. I've used Ramp for various businesses of mine over the years, and the software is really where Ramp shines. The Ramp platform makes it easy to have an all-in-one solution to manage all of your spend (including processing reimbursements if you put an expense on your personal card, or a non-Ramp business card), and syncing all of that to Quickbooks for easy accounting.
As mentioned above, until today, you earned 1.5x back on all purchases, which was only redeemable for cash. This morning, when I logged into my Ramp account, I saw the ability to transfer your rewards points to travel partners. The rewards partners that I currently see on Ramp are:
As you can see, these are not 1:1 transfer partners. This means that Ramp points have about 2/3rds of spending power of a traditional bank's currency (i.e. Amex MR or Chase UR) - or in other words, reversing the ratio, is 1 Ramp Point = 0.6667 Partner Points.
Ramp requires a minimum of 100 partner points (150 Ramp Points) to be able to transfer. As long as you transfer over 150 Ramp points you can transfer as many or as few points as you'd like (there is no incrementing to the nearest 1,000 points).
When I tried to transfer Marriott Points, it took about 40 minutes from the time I initiated the transfer before it showed up in my Marriott account. It's currently unclear how long it will take for other transfer partners.
This is significantly less lucrative as compared to Chase UR, Amex MR, as one Ramp point doesn't nearly get you as far. Additionally, those programs have significantly more transfer partners as compared to Ramp.
According to Ramp, "Every $100 spent on a Ramp card earns you $1.50 in cash-back or 150 Ramp points". This resembles the Chase Freedom Unlimited, whereby you as the cardmember get 1.5x cashback on everything, which can be redeemed for UR (if you have an Ultimate Rewards credit card) or cash. Ramp does not have category multipliers.
While Ramp doesn't have an official Sign Up Bonus, you can earn $250 back or 25,000 Ramp Points through a referral link, after your first $1,000 in spend. For your convenience, we've provided our referral link where you can get this bonus if you want to sign up for a Ramp card.
While the best use of your Ramp points are likely towards business travel, there are some great redemptions that might be worth saving up Ramp points for.
There are plenty of sweet-spots in the Avianca Lifemiles program.
Fly Transcontinental or East Coast to Western-Europe in AA Business/First (50,000 - 80,000)
Ramp is great for business owners who are looking for a great spend management platform. While I don't often use my Ramp card, as an optimizer looking to get maximum value from my spend, I use the software to help with reimbursements, accounting, spend tracking, etc almost daily.
For someone like me who optimizes and maximizes all of my spend, this rewards program is a bit underwhelming, due to the lack of transfer partners, and the lackluster value of a Ramp Point, at least comparing it to Amex MR and Chase UR.
However, if you're a business owner, and you are just looking for the easiest way to manage your spend, Ramp is certainly a great option. If you are going to pick up one of these cards, don't forget to use our (or your friends) referral link to get an exclusive sign up bonus of $250 back (or 25k Ramp Points) after your first $1,000 in spend!
