Rule of Thumb for Estimating the Value of Your Travel Rewards Miles
Bonus miles are misleading. They are not always based on how many miles you fly, and rewards do not equal miles either. There are tools to help you compare flight prices in miles , but this rule of thumb is good for estimating.
At Forbes, personal finance writer Casey Bond notes that airline miles can be confusing because 25,000 miles doesn’t mean you get 25,000 free miles to travel. Here’s how to get a rough idea of how much you actually earned according to your rewards:
The general rule of thumb for award miles or any credit card rewards (such as points) is that they cost $ 0.01 each, ”explained Matthew Coan, owner of credit card comparison site Casavvy.com . … Most cards that offer reward miles make them the best option for travel. So if you have accumulated 10,000 miles (or points) over the course of the year, you can, in effect, redeem them for $ 100 in travel expenses.
Again, this isn’t an exact number – if you’re looking for something a little more accurate, try this tool – but it’s a good rule of thumb to quickly determine how far miles will go. For more information, go to the full version of the message at the link below.