When it comes to spending your airline miles, there is no time like the present.
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But 5 years ago, in an era before the pandemic, your airline miles may have had more value than they do now. According to a survey by IdeaWorksCompany, mileage prices have increased by 28% in the last 5 years.
Mileage prices have increased, and travelers are finding themselves with steadily decreasing value points. How can you, as a traveler, use your airline points wisely?
Points Devaluation
One potential explanation for increasing mileage prices is that points decrease in value over time.
“Airlines have devalued points over the years, and [that practice is expected] to continue,” said The New York Times in an article.
The pandemic was hard on many people’s banks and hindered most people’s ability to travel. Due to the decrease in travel, consumers around the world sat on their airline miles for extended periods of time.
Now, in 2024, traveling has picked up — and many are looking to use the points sitting dormant in their accounts. Because of this, travelers may find their points are not earning them as many free miles as they expected.
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How To Best Use Your Miles
If you find yourself not getting much value out of your miles, there are other ways to make sure your miles take you where you need to go.
“If you have some flexibility with your travel dates, destinations and other aspects of the trip, compare both cash prices and award ticket prices to determine whether you can change your plans to get the most cash value per mile,” said Experian in a post.
Being flexible with when and where you book your flight can help you utilize your accumulated points. Additionally, using your points quickly may be a good idea rather than holding onto them.
“Mileage programs tend to get devalued over time. Regardless of inflation, it’s best to avoid stockpiling rewards,” Experian said in an article.
Using your mileage points as soon as possible can help safeguard your points from eventual devaluation.
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This article originally appeared on GOBankingRates.com: How Much Travel Can You Do Now With Your Airline Miles vs. 5 Years Ago?