Buzz
Credit card points and airline miles are curious components of today’s economy. While they aren’t exactly worth much—airline miles, hotel points, and credit card rewards usually peak at around 1.5 cents per point, with many being valued even lower—they do provide essentially free money. You earn them automatically with purchases, so as long as you’re buying what you need and traveling where you need to go (without paying interest on those expenses), these points will eventually accumulate into something valuable that you wouldn’t have otherwise.
If you carry an airline-affiliated credit card, such as the United MileagePlus card, chances are you’ve used your points primarily to reduce travel expenses. Points are typically simple to redeem for flights, hotel stays, and rental cars, and even if the exchange rate isn’t the best, they still offer a form of free travel. But travel-related expenses aren’t the only things you can spend your points on.
Charitable Contributions
The points and miles you accumulate through credit card purchases or airline loyalty programs may not hold much cash value, but they do have some worth. If you’re looking to make a positive impact on the world without dipping into your wallet, you can often donate your miles or points to charity. Many loyalty programs already have partnerships with charitable organizations to make this process simple. However, keep in mind that these donations are likely not tax-deductible, as the IRS considers points and miles as discounts rather than income.
Magazines and Periodicals
Your loyalty program or credit card website may offer the option to subscribe to magazines or newspapers, or you can explore MagsForMiles to see if you can exchange points for reading materials. If you have spare miles and you genuinely enjoy reading the publication, this could be a smart choice—especially since points and miles tend to be highly valuable in these exchanges. For instance, with MileagePlus miles, you can get a 15-issue subscription to Wine Spectator for just 1,000 miles; that subscription would cost about $72 annually if purchased directly, which values your points at around 7 cents each—not bad at all.
Gift Cards
If you’re looking for more flexibility, converting your miles or points into a gift card is an option that many overlook. Most programs offer gift cards in exchange for points (and sometimes, you can even exchange unwanted gift cards for points, creating an odd loop of gift card trading). Like any points or miles redemption, you’ll need to evaluate the value of the exchange. For example, a $5 Starbucks gift card through MileagePlus will cost you 1,666 points, meaning each point is worth about 3 cents. A gift card might be a convenient way to spend your points, and it's a handy gift to give without actually spending money.
Unique Experiences
Okay, the term 'experiences' might sound a bit overused, but if you have a stash of miles or points gathering dust in an account, you should check out the various 'experiences' you can purchase or bid on. MileagePlus has a variety of sports-related experiences available for bidding with your miles, while Hilton Honors members can bid for a variety of exclusive events, like concerts, sports games, or special dinners. Since many of these are auction-style, you might end up spending more miles than planned—but since those points are essentially free, why not use them for an adventure you might otherwise never pay for?
Cash Redemption
While it’s technically legal to sell your points or miles to third-party services like MilesBuyer, it’s generally not recommended, as most airlines and credit card companies prohibit this practice. If you’re caught, you could lose your account and forfeit all the points or miles you've accumulated.
That said, there are some alternatives. Many rewards programs offer the option to convert your points into cash. For example, Citi allows you to easily convert your ThankYou points into a direct deposit to your bank account, a credit to your credit card balance, or even a mailed check. This turns your hard-to-redeem points into actual cash, so it’s worth checking your program’s details to see what options are available. Just make sure to do the math first—typically, you’ll want to get at least one cent per point when converting to cash; otherwise, it might be better to wait and redeem for other goods or services. For instance, Citi’s ThankYou points are worth exactly one penny each in cash, so 5,000 points would convert into a $50 deposit.
