Outside of certain exclusive sets that aren't carried by other retailers (eg Seasonal sets such as 40236 Romantic Valentines Picnic; but excess stock of older seasonal sets have popped up at other retailers the year after they have been retired and disappeared) getting a free promo you can't live without, or catching a Black Friday/Xmas sale at LEGO, you'll find much better prices at other retailers if you have patience.
Points are only worth 5% (or 10% to 15% during occasional 2x and 3x VIP events) and can only be redeemed at LEGO stores/Shop at Home. Most retailers such as Amazon have been recently discounting brand new released sets at 20%+ off, and clearance sales have been really good in the past several months most likely due to the crazy volume LEGO has been producing due to perceived demand.
You can lower you buy in cost through purchasing discounted gift cards from eBay or sites like Cardcash or Raise and combine this with retailer specific deals such as ToysRus TRUTH discount (but beware, TrU tends to raise their "regular" prices well above MSRP so be aware of what they actually cost elsewhere), K-Mart Surprise points or getting a business account at Amazon for exclusive discounts, or using coupon deals at YoYo.com/Jet.com. And don't forget you can generally price match other sales at most retailers.
You can do some reading on deals over at Brickpicker. As much as their members tend to bother me by how ruthless they are acquiring sets to re-sell, they really know the ins and outs of getting the best deal.
https://community.brickpicker.com/forum/14-buying-selling/