Why now is the time to use airline miles

By Chris O’Shea*

The recent pandemic lull has seemingly come at an opportune moment: Right in time for summer vacations. If you’re considering flying to your summer destination and you’re sitting on airline miles, you’re in luck — now is the time to strike. Here’s why.

The Refund

As The New York Times notes, one of the best aspects of booking a flight with airline points is that they are fully refundable. That means if the pandemic somehow (ugh, fingers crossed) takes a turn for the worse between now and your summer vacation, you can change or cancel your flight without any fees or penalties. If you buy an airline ticket with cash, you’ll likely only get an airline credit if you need to cancel. And yes, you can buy a refundable ticket, but they’re usually more expensive than regular tickets.

The Value

Airline points are like currency for airlines, and that means they can change their value how they see fit. That’s why now is the time to use your miles. It’s plausible that your points’ value is at an all-time high. However, as flying demand increases, there’s a good chance that airlines will reduce their buying power.

The Options

In general, you have more options when flying right now. There are less travel restrictions from countries than since the pandemic began two years ago. That means you have more options to pick a great summer vacation spot. You also have more airline seating options now, as travel demand has just started revving up.

*This guest article is from the “Your Money Blog” in Mid Oregon’s Digital Banking Credit Savvy resource. It is made possible by SavvyMoney. “The Friendlier Skies” by Chris O’Shea was published in March 2022.

See additional articles by Chris O’Shea in the Mid Oregon View.

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