Is It Worth the Cost to Buy Airline Miles?
It sounds great, buy a few miles to bump up your mileage so you can get that free airline ticket for the family gathering or the dream vacation. What do airline miles cost and what are they worth?
Most airlines now offer frequent flier miles for sale, but experts say consumers should think carefully before clicking the buy-now button. Experts say airlines usually get the better end of the deal, but savvy travelers can come out on top.
How much is a frequent flier mile worth? That's the basic question you need to ask when considering purchasing miles, experts say.
The price airlines charge about 3 cents a mile when everything is factored in but, these days, the average value of a mile is about 1.2 cents. Unless you go into it knowing in advance precisely how you're going to get at least 3 cents in value out of each mile, you're overpaying.
However, paying too much per mile can still work in your favor if you need only a small number of miles to reach an expensive award ticket. If you need, say, only 1,000 more miles to make a trip and you want to spend $27 to get it well, you need it. In general, though, experts say selling frequent flier miles is a way for airlines to cash in while spending very little in return. The sale of miles is extremely profitable for the airlines.
A consumer could spend about $750 to purchase the 25,000 points typically needed for the lowest-level award, a restricted coach-class domestic ticket, on average, would cost about $350 to buy.
To make sure the purchase of miles helps pad your wallet and not the airline's bottom line.
Look at how much the miles will cost including taxes and fees and compare it to the cost of buying a ticket outright and saving your miles for later. It usually works out well for international tickets, especially in business class or first class.
First reserve the award seat and then go buy the miles, usually, you can make the reservation and then you have at least 72 hours to use your miles to pay for the tickets.
Before you buy, look at whether there are other ways to earn the miles you need. All of the big [frequent flier] programs have mileage malls extensive networks of online retailers that give members miles when they make purchases online. You're short of miles and you need a pair of khakis? Well, go to Gap.com and earn some miles. Or maybe start in on your Christmas shopping a few months early. Some people are overlooking this, and it's potentially a pretty rich source of miles.
Mileage programs are great, traveling free is great, but be a smart consumer, check before you buy... fly right and fly smart.
Most airlines now offer frequent flier miles for sale, but experts say consumers should think carefully before clicking the buy-now button. Experts say airlines usually get the better end of the deal, but savvy travelers can come out on top.
How much is a frequent flier mile worth? That's the basic question you need to ask when considering purchasing miles, experts say.
The price airlines charge about 3 cents a mile when everything is factored in but, these days, the average value of a mile is about 1.2 cents. Unless you go into it knowing in advance precisely how you're going to get at least 3 cents in value out of each mile, you're overpaying.
However, paying too much per mile can still work in your favor if you need only a small number of miles to reach an expensive award ticket. If you need, say, only 1,000 more miles to make a trip and you want to spend $27 to get it well, you need it. In general, though, experts say selling frequent flier miles is a way for airlines to cash in while spending very little in return. The sale of miles is extremely profitable for the airlines.
A consumer could spend about $750 to purchase the 25,000 points typically needed for the lowest-level award, a restricted coach-class domestic ticket, on average, would cost about $350 to buy.
To make sure the purchase of miles helps pad your wallet and not the airline's bottom line.
Look at how much the miles will cost including taxes and fees and compare it to the cost of buying a ticket outright and saving your miles for later. It usually works out well for international tickets, especially in business class or first class.
First reserve the award seat and then go buy the miles, usually, you can make the reservation and then you have at least 72 hours to use your miles to pay for the tickets.
Before you buy, look at whether there are other ways to earn the miles you need. All of the big [frequent flier] programs have mileage malls extensive networks of online retailers that give members miles when they make purchases online. You're short of miles and you need a pair of khakis? Well, go to Gap.com and earn some miles. Or maybe start in on your Christmas shopping a few months early. Some people are overlooking this, and it's potentially a pretty rich source of miles.
Mileage programs are great, traveling free is great, but be a smart consumer, check before you buy... fly right and fly smart.
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