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How do people here use their points? I took advantage of a promotional offer so I'm now sitting on just over 50,000 "free" points. I'm planning on transferring them to my Continental frequent flyer account to redeem for international business class upgrades or award tickets which should raise their value into the 3+ cents/point range.

The 50,000 points will be sufficient for a round-trip upgrade to business class to Tokyo later this year (plus the base fare and the copay).
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I've always found travel rewards to be the most productive use of my MR points. Continental Business First to Narita for me and my girlfriend was my last reward flight, in fact.
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Mac,

That sounds like a nice use of rewards. I have a Chevy Chase Countrywide Rewards card that for every 2,500 points would pay $50 towards the principle of your mortgage. I loved it and I thought it was a heck of a good deal. Well, needless to say Countrywide and Chase are parting ways and there is a new program. One of the programs is airline miles. I travel about 4 times a year and can spend anywhere from 1 to 5 weeks away from home while on travel. Bumping up to first class or business class would be a treat when I travel:-)

kook79
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Last year I funded most of a ski trip to Vail/Beaver Creek through reward points I had accumulated over more than a decade of Blue usage. However, now I am mostly using my True Earnings card, for which I am expecting around a $300 rebate with my next statement.

Fuskie
Who in his effort to single-handedly stimulate will be applying that rebate towards a HDV Camcorder next month in anticipation of a family trip to Copper Canyon in Mexico...
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The one time I was going to use on travel it was just hard to put together without a lot of prior planning.

Anyway we have over 130k points. I plan to use some of them as follows:

1. I buy clothes for work at Talbots. I can get Talbots gift certificates for $1 per 100 points.

2. A couple of restaurants I like have similar gift cards.

3. We are wanting to budget very closely this year so I've told DH that when my birthday rolls around that he can get me anything he wants ....as long as it uses only up to 5000 Amex membership rewards points.
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I used about 30000 points to pay for a vacation for DW and I in Chicago at a moment's notice. It was a very enjoyable experience and I was quite happy that we got to stay in a 4-star hotel by booking the suite the night before our intended day of arrival.

Converting your points to airline miles sounds like a good option. I might do that myself on whatever points I have remaining.

Cheers!
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My AMEX Delta Sky Miles card has made me very happy. You earn miles quickly and there are frequent double mileage offers that run. Along with the bonus Medallion miles boosts that occur at certain spending levels and the fact that you can use Delta miles whenever you want (i.e. $200 flight, $100 in miles $100 in cash) it's pretty much perfect for the frequent flyer.
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Don't forget the Delta Reserve card which gives you a leg up on upgrades as well.
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