Some of the first reward credit cards were airline rewards credit cards. The airlines already had their loyalty programs set up, and all the banks had to do was to tie in with them. In the beginning, you earned a set number of points, and then you booked a ticket. Most of the time, you just had to name your flight. I can remember booking a flight using miles in 1997 and being offered several different choices for travel that same day! Those were the good old days. Today’s airline rewards landscape has changed dramatically, and smart reward card holders must change their habits to continue to get decent value from their miles earned through credit card rewards.
Deflation Is Rampant
Today, there are so few awards available for 25,000 miles, that their value is hovering at just a little over 1 penny per mile. For any kind of last minute or multi-leg itinerary, the legacy carriers are going to ask for 40,000 or 50,000 miles. The worst is Delta, followed closely by United, US Airways, and Continental. O
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