April 28, 2014 Posted by: Liann Walborsky
Oh, the joy of counting your reward points for all the various credit card, hotel and airline frequent traveler programs. Sure, they’re fun to accumulate as you think about going on that long-hoped-for trip to the other side of the world…but how long should you really hold onto these points before using them?
First of all, similar to normal currency inflation, 25,000 miles isn’t what it used to be. Companies often increase the number of points you need to, say, buy a domestic flight ticket or book a hotel room. There are also more blackout dates and restrictions than ever before. Many points programs have expiration dates that many consumers don’t pay attention to. Below, we’ve listed a couple of signs which may indicate it’s time to cash in those points.
Mainly, don’t just sit around and watch your balance grow. Seize the moment — get the seats you want on a flight, stay at the hotel you’ve always dreamed of. What are you waiting for?
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