Buying frequent flyer miles can seem like a quick way to earn rewards for free flights or upgrades, but it’s not always the best decision. Whether it’s worth it depends on various factors, from your immediate travel needs to the financial implications of the purchase. Let’s explore when purchasing frequent flyer miles might be a smart move and when it could be a waste of money.
When Buying Frequent Flyer Miles Might Be Worth It
Top-Off Your Mileage Balance
One of the most common scenarios where buying miles makes sense is when you’re just a few thousand miles short of a flight or upgrade you want. If you’ve accumulated most of the miles you need, purchasing the remaining miles can be more cost-effective than buying a ticket outright or trying to earn those miles through additional travel. Frequent flyer programs allow you to “top off” your miles, a convenient way to complete your redemption without waiting for more time or flights.
Special Promotions and Bonuses
Airlines frequently offer promotions where you can purchase miles at a discount or with bonus miles. For example, a program might give you a 25% or 100% bonus on purchased miles. These promotions can significantly increase the value of your purchase and make it more worthwhile. If you plan to redeem miles shortly, this could be an excellent opportunity to boost your balance at a fraction of the usual cost.
Upgrading to Business or First Class
Another scenario where purchasing miles could be beneficial is when you’re looking to upgrade to a higher class of service, such as business or first class. These upgrades often require many miles, and if you are close but not quite there, purchasing miles could be a smart way to complete your balance. When upgrading with miles, you often pay a better value than buying a business-class ticket outright.
Expiration of Miles
In some cases, if your miles are about to expire and you don’t have any immediate plans to use them, purchasing additional miles could be a way to extend your life. Frequent flyer programs require account activity to prevent miles from expiring. If you’re short of the necessary miles to keep them active, buying a small amount could be an easy solution.
When Buying Frequent Flyer Miles Is a Bad Idea
Poor Value for Money
The most important thing to consider before purchasing miles is whether you’re getting good value. On average, frequent flyer miles are worth between 1 and 2 cents each when redeemed for flights. However, purchasing miles often costs between 2 and 3 cents per mile or more. This means you could spend more on buying miles than you would save by redeeming them for a flight. Always do the math and compare the cost of purchasing miles with the cost of buying a ticket directly, especially when tickets are on sale.
Short-Term Travel Plans
Purchasing miles is often not cost-effective if you need to book a flight on short notice or for a future trip. Airlines usually charge a premium for last-minute flights, and buying miles will not save you money compared to purchasing a regular ticket, especially for flights shortly. If you’re booking last minute, paying for the ticket directly is generally better than relying on buying miles.
Frequent Flyer Program Devaluations
Frequent flyer programs periodically devalue their miles by increasing the miles required for awards. Even if you purchase miles now, there’s a risk that the redemption rates will change, leaving you with fewer miles or less valuable reward options in the future. Before purchasing miles, check if the program has recently devalued or announced upcoming changes to its award chart.
High Redemption Fees
Even if you redeem your miles for an award flight, you may still be on the hook for high fees and taxes. Airlines often charge additional “fuel surcharges,” booking fees, or taxes on award flights, which can make using miles less of a bargain than it initially appears. These fees can sometimes amount to hundreds of dollars, negating the value you would have received from purchasing miles.
Lack of a Long-Term Plan
If you don’t have a clear plan for how and when you will use the miles, buying them might not be the best idea. Frequent flyer miles often come with expiration dates, and if you’re not actively planning to use them, they could expire before you get the chance to redeem them. Plus, programs can change their terms, including how miles can be used, so purchasing miles without a solid plan for redemption is risky.
Conclusion
Buying frequent flyer miles can be beneficial in specific situations, such as topping off your account for award redemption, taking advantage of promotions, or upgrading to a premium class. However, it’s essential to carefully assess whether purchasing miles provides good value for your situation. Without a clear plan or in cases where the value isn’t great, it’s often better to avoid buying miles and instead focus on earning them through travel or spending on a co-branded credit card.
Before purchasing, always weigh the cost of buying miles versus the potential reward, and check the terms and conditions of the frequent flyer program to ensure you’re making an informed decision.