What would you do if you are able to save as much as $300 or even more if you are going to use your miles? Would you grab the opportunity and throw away the idea of paying up cash? The answer to this question depends on certain factors. To help you decide whether to use cash or your miles, here are some info:
1.2 Cents Per Mile
Consumer Reports has stated that it one mile costs about 1.2 cents. This means in order for you the value of the miles you are getting would be to multiply it by 1.2 cents. So, for a 10,000 miles it would cost about $120. If you are going to use up your miles basically you are saving about $120 on your flight.
25k Miles Round Trip (US)
A round trip within the use would cost about 25,000 miles. If you do the math, you need to have approximately 25k miles in order to have a round trip within the US. This will be beneficial to those who have accumulated this amount of miles over the period of time. Be sure to keep track as to how much miles you already have.
Use Miles For Flight Costs More Than $300
Here is the tricky part of which you need to remember. You would only benefit of using up your miles if the flight would cost more than 300 bucks. If not better stick to paying the flight by cash. Be sure to do the calculations right. This would save you hundreds of cash if you use your miles up to your next round trip within the US.
Do remember that these miles do have an expiration date. You can not just accumulate them for years and use them 10 years later. It does not work that way. You only have 18 months to use up your miles. However, there is a likelihood you can keep the miles when you have your account active through using a credit card associated with airline rewards card or by flying.
So, what are you waiting for? Do check out your miles and compute how much miles you need to accumulate in order to get a round trip in the US for free or is it worth it to use your miles up today. The choice is really all up to you.