Staying Fit
With a fantasy vacation in mind, you've been diligently banking frequent flyer miles to help pay for it. Sadly, your getaway has gone away because of the pandemic. Still, those miles are valuable, and now may be a good time to consider alternative ways to redeem them. While major airlines have extended their mileage expiration dates, miles earned at others may expire in as little as three months.
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Fortunately, you can often cash in points for things other than your own travel. You might, for example, book travel for stressed-out relatives, or send someone in your life some cheery flowers. If you need a boost, consider booking a weekend away at a nearby hotel, or purchasing some helpful wellness products. Let's say your budget is tight this holiday season. You could opt for cash back, redeem your miles for gifts, or use them to make a donation to a favorite charity.
Don't give up on travel
Most likely, you accumulated your stash in one of several ways. You joined an airline loyalty program, perhaps one from American, United, Delta, Jet Blue, or Southwest or their partners; you made purchases with a generic travel card such as a Capital One Rewards Visa, and transferred your miles to an airline; or you used a co-branded credit card like the JetBlue Mastercard from Barclays to buy stuff.
"Generally speaking, the most lucrative way to use your miles is for travel, so I'd encourage readers to look at booking future trips with them,” advises Nick Ewen, senior editor at The Points Guy, a website that helps consumers maximize their travel experiences. “This can be especially true now, with most airlines offering flexible change and cancellation fees. See if a friend or family member could benefit from a free flight. Last-minute airfare can be expensive, but if a loved one is an essential worker, or needs to travel to be with a sick relative, you could use your miles right now and remove at least one stressor from their lives.”
Read the terms for transferring points carefully. Delta SkyMiles restricts transfers to other SkyMiles members, for example; you'll need their SkyMiles number to move points to their account. Transfers cost $0.01 per mile plus a $30 per transaction processing fee. Capital One's Venture credit card will let you transfer points to 10 or more airline loyalty cards.
