Built up a collection of airline miles or reward points on your credit card?
You have to be careful how long you hold onto them.
The value of your miles or points can vary over time, and drop much sooner than you may realize. You’ve spent a lot of cash traveling with your favorite airline and making purchases on your card, so it’s a real shame if you let your hard-earned rewards go to waste.
Let’s take a closer look at this complicated issue.
The Main Factors of Airline Mile Values
Various factors can affect your miles or points’ worth, such as your planned departure dates, the distance of your journey and your choice of seating while in the air. While you might expect airlines and credit card companies to make your rewards for loyalty as attractive as possible, the reality is you could struggle to actually get the package you want.
Research into this issue has raised some interesting points about earning miles and points. Flying in economy seating can give you some of the best returns on your money, particularly during off-peak periods. Taking flights in business or first-class seating can be rewarding off-peak too.
If you really want to take a first-class or business-class trip during peak times, the data show that flights longer than 1,000 miles work out best (at $0.0072 per point on average). That’s great if you plan to go further afield, but if you’re in greater need of a more localized flight you may not be able to get it.
The Issue of Timing
Some airlines’ frequent-flier miles expire after a certain date, which gives you a clear deadline to keep in mind. However, while airlines like Southwest miles have no expiry dates on their award miles (earned via their SkyMiles program) this still requires that you keep your eye on your miles’ values. If you let months go by between checking, you could discover their worth has taken a nosedive.
If this happens, it’s easy to feel like the airline has taken your money and left you without the rewards promised. One effective tactic to avoid this frustration is to use your miles and points quickly, when their value is at a rate you’re happy with.
Another great option? Sell them for cash!
Selling Airline Miles for Cash
At The Miles Market, selling your airline miles couldn’t be easier — or better for your wallet.
Just head to the form on our site and enter the few details requested. Let us know what airline you’re looking to fly with and the amount you’re searching for. Our experts will take a look and get back to you fast (usually within minutes).
Once your miles have been verified, we’ll transfer the cash to your account quickly and safely. Someone else will get to take advantage of your hard-earned miles and you’ll have the cash to spend on … well, on anything you like!
Have questions about selling your air miles? We’re here to give you the answers, so please don’t hesitate to ask!