DON’T DO IT!
Through October 18, 2013, IHG Rewards Club is offering tiered bonuses on the purchase of points, up to 50%. The tiers are as follows:
1,000 – 10,000 points for $13.50 per 1,000 points
11,000 – 25,000 points for $12.50 per 1,000 points
26,000 – 60,000 points for $11.50 per 1,000 points
If you max out the promotion you can purchase 90,000 points for $690, which is ~0.77 cents per point.
In August they offered up to a 100% bonus on the purchase of points, meaning points could be purchased for as little as 0.575 cents each. There it could have been a good deal, but here there are no circumstances under which it could make sense to purchase points. That’s because you can “buy” Priority Club points for 0.7 cents each just by making cash & points bookings and then refunding them.
So I give this one a “pass.”
(Tip of the hat to Loyalty Lobby)