Sumary of Why you may want to use your airline points sooner rather than later:
- People ready to fly again may want to prioritize redeeming their airline miles, rather than trying to earn new ones..
- A glut of unused reward miles may push airlines to change their frequent flyer programs in ways that could disadvantage some customers, warns ValuePenguin, one of LendingTree’s financial research websites..
- airlines — Delta Air Lines, American Airlines, United Airlines, Southwest Airlines and JetBlue — shows reward program liabilities grew to a combined $27.5 billion last year, a spike of 11.6% over the year before, according to ValuePenguin..
- Additionally, a rush to redeem miles is expected at a time when the badly battered airline industry needs cash-paying customers at the ticket counter..
- Miles earned, but not redeemed Flying was one of the industries hit hardest by the coronavirus pandemic, but customers of the five analyzed programs still managed to amass about half (46.2%) the volume of miles in 2020 that they did in 2019..
- That was largely due to points earned from credit card spending, said Matt Schulz, LendingTree’s chief credit analyst..
- cashed in rewards points for statement credits for groceries and other necessities, but many people simply held on to their miles, waiting eagerly for the day when they could travel again.”.
- ValuePenguin JetBlue customers redeemed the most miles (18.4%) last year, about half the miles its customers redeemed in 2019, according to ValuePenguin….