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I’ve noticed all these start up companies looking to buy your credit card points or miles. When they do buy them, what do they do with them? Does there staff/families all go on free vacations or redeem for gift cards or merchandise? I just get the feeling that although they are paying you cash, you could probaly benefit more if you kept your own points and redeem them yourself. Why else would they offer to pay you cash unless it was worth there while? Am I missing something here?
They use them to book flights for other people, for which they are paid more than they paid you.
You could do that also, if you had enough points to book flights for people, and advertised to people who wanted to buy flights so they would come buy from you.
The points are sold to travel agents who use them on first class tickets enabling them to reduce the passengers cost and increase their own profits.
Does anyone know how much the average pay is for a few hundred thousand miles? (more than 500k).
Be careful
The airlines are not too fond of this and may cancel your miles and boot you from the program
@yaakov doe
That doesnt make sense on 2 levels.
First of all, it means the person flying fist class on this miles ticket won’t earn miles on their flight, as one does not earn miles on a rewards ticket. Few people willing to shell out for a 1st class ticket will do so without getting miles in return.
Secondly, and I am telling you this from 1st hand experience, should the flight get cancelled, the person who bought this ticket from the travel agent would basically lose their money. If you have a miles ticket and your flight gets cancelled, you get your miles back. You would not get back the money you gave your travel agent, unless the agent themselves gave it back to you.
But either way you’d be stuck without a ticket.
Few people willing to shell out for a 1st class ticket will do so without getting miles in return.
They would to save money.
You would not get back the money you gave your travel agent, unless the agent themselves gave it back to you.
But either way you’d be stuck without a ticket.
That doesn’t make sense on 2 levels.
First of all, if the broker got the miles back, why couldn’t they give you back your money?
Secondly, why couldn’t they just buy the customer another ticket with the miles?
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