As of October 1st 2013, Hertz is devaluing their points by 10-15%. Here is their email they sent out to their members earlier this year:

“To continue providing exceptional service to our members, we occasionally make changes to the Hertz Gold Plus Rewards® points program. We are pleased to announce that based on member feedback, coming soon we will be enhancing reward redemption options with new locations and expanded choices.

We also constantly strive to maintain industry-leading reward levels and availability. However, in light of rising costs, we find it necessary to implement our first reward redemption point increase since 2008. Beginning October 1, 2013, point redemption levels for Rewards will increase a modest 10–15% in the United States, Canada, Puerto Rico and U.S.V.I. This will allow us to continue providing both the quality and quantity of reward options our members have come to value and appreciate.”

The semi-good news though, is that awards booked prior to October 1st will be billed and honored at the current rates.

So if you have any Gold Plus Rewards Points you were planning to use, and know the dates of travel, I would suggest locking in the rates and booking your awards now, before October 1st when the rates are raised.

If you are unsure of your dates of travel, but know approximately, it may still be worth it to book now, as you may cancel them later if need be. Hertz’s Policy regarding award cancellations “Points are reinstated if you cancel at least 24 hours prior to pickup time.”

Hertz points can many times offer incredible value. For instance, basic rentals in NYC (or other expensive cities) can sometimes go for $150 + taxes & fess for a total of $200. Booking with Hertz points for that same rental will come out to just 500-600 points.

You can book at the current 600-point level for weekday rentals or 500 points for weekend rentals. Once the new rates go into effect, an average rental day will go up to 660-690 points.

Below is the current award chart:

You earn 1 Hertz point per $1 (President’s members earn an additional 25%) on the base rate of a rental and optional service charges like gas, child seats, GPS etc; (not including any taxes or other non-optional fees), so you’re looking at having to spend an extra $60-$90 to achieve a standard free rental day that you book post-devaluation. Standard free rental weeks currently start at 2,500 points, but after the devaluation, that will go up to 2,750-2,875 points.

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