Airline miles and frequent flyer points are popular among frequent (and non-frequent) travelers.
In fact, according to this ABCnews article, two-thirds of Americans collect reward miles and points for travel.
That’s good. We’re taking advantage of what’s available to us.
But you know what the bad news is?
According to the same article, 25% of people let their frequent-flier miles go unused, much like gift cards.
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There are many reasons for that…
- We forget about them.
- We never get around using them even though we know we have them.
- Or it could be that we’re not interested in any of the available prizes.
Whatever the reason may be, the smart thing would be to sell them!
The good news is that there are many people who will buy your frequent flyer miles from you.
But can I even sell my Airline Miles?
Airlines are against their customers selling their miles, which is why most, like American Airlines, have long policy sheets that you have to fill out when you first sign up.
That said, it is important to remember that selling your miles is actually legal with the exception of the state of Utah.
How & where to sell Frequent Flyer Miles?
Well, there is an easy answer!
And no, it’s not eBay!…
Sure, some people do buy and sell frequent flyer miles on eBay, but I wouldn’t recommend it as it is much riskier than going through a mileage broker.
Mileage brokers are actually middlemen who can help you sell off those miles and at the same time evade any consequences attached in selling them.
There are a few trustworthy mileage broker sites out there that you can use to sell your miles.
Here are a few…
A few tips
You should always keep the following tips in mind when trying to sell your miles to a broker:
- Make sure to check the exact terms of the mileage brokers after you have registered with the broker’s program (But then again, perhaps you’ve already done this while researching which broker to sign up with).
- Keep in mind that some brokers actually require an interested party to buy the miles before agreeing to sell your miles for you. Other brokers, on the other hand, will get your miles to join them in their miles bank.
- You should also check whether the broker requires a minimum number of miles for each transaction. There are some mileage brokers that will only agree to sell your miles for you if you have 100,000 or more miles to sell.
- Make sure to follow each step that the brokers require, plus properly and carefully fill out those forms. Otherwise, you might end up losing your miles after the broker voids the transaction. Don’t rush. Take your time in understanding all of the stipulated terms and conditions before you decide to sell those miles of yours.
Of course, if you don’t want to go through the hassle of using a mileage broker, you can always sell your miles to your friends and family, or give it to them as a gift.
How much cash can you make?
Expect to earn somewhere between 1 to 1.8 cents or more per mile you cash in.
To maximize your selling options, you could search for incentives that package hotel points and other travel rewards together to earn more.
As for getting paid, you actually have a choice of either getting a cashier’s check or receiving a direct deposit in your bank accounts.
Redeeming your Miles for Points
Airlines now have much more flexible frequent flyer miles. So, if you don’t want to use your miles for a free night stay at a hotel, you can use it for something else.
Many airlines nowadays have partnered up with Points.com where you can sign up for free and redeem your miles for everything from vacation packages and rental cars to tickets, gift cards and more.
Airlines that have partnered with Points.com include American Airlines, Delta, JetBlue, and Korean Air.
Although, redeeming your miles for rewards is a good option for when you want something else than what the airline offers as rewards, keep in mind that a good chunk of your miles will be lost as transaction or processing fees.
What do you think?
Do you think it’s worth it?
Have you ever sold your airline miles?
If so, what has your experience been like?