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Miles-to-Points

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If you have lost your desire to fly and have accumulated tons of air miles, then you might want to consider converting them to points to buy stuff. But watch out, you might end up giving the miles away at a deep discount. United Airlines and American Airlines have set up a deal with Diners Club whereby you can convert miles-to-points and vice versa. The Diners Club Rewards program offers a wide range of redemption possibilities, from camcorders to Coach bags. Under the United and American programs you’ll receive one Club Rewards point for each mile you transfer. You must transfer a minimum of 10,000 miles each time and you are limited to a calendar year maximum of 50,000 miles. However, if you want to convert Diners Club Rewards points to United or American air miles, it will cost you two points for each mile. You must transfer a minimum of 2,000 points. Generally air miles on United and American carry a nominal value of 2.5 cents per mile. The value of each Diners Club Rewards point is about 0.5 cents each. Therefore, if you want to transfer 50,000 miles from United or American to 50,000 Diners Club Rewards points you might be giving away something worth $1,250 for something worth $250. But then again, the miles might be worthless to you anyway. For more information on the Diners Club program visit http://www.dinersclubnorthamerica.com/US/en/us_home_flash.jhtml

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