Well, actually this strategy will earn you the difference between the full points cost and the points cost you selected. So the Tokyo hotel you’re talking about is 50,000 originally, so you would be refunded 50,000 points (10,000 more than what you paid with the 40,000+$70 option, for an earnings total of 10,000 points.) And for the Cape Town option, the original cost is 10,000 points, so your refund would be 10,000 points, 5,000 more than what you paid with the 5,000+$70 option, therefore earning you 5,000 extra.
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