Consumer Tip - Use Those Frequent Flyer Miles Now!
The Swine Flu is going to take its toll on the airlines just as the busiest travel season gets underway.
Not to say I have a computer model that says this bug is going to become more virulent.
We're all praying this scourge abates, and quickly.
But concern about congregating in a confined metal tube for hours on end, breathing the same air along with others identically situated, won't make for a stress-free vacation this year.
I suspect a lot of people are going to avoid public transportation, and this can only mean reduced loads and more financial trauma for carriers.
(Just today, the press reported Vice President Biden advises against using airplanes and trains as long as swine flu is a threat.
) If airlines fail in great numbers, there's no assurance they won't also bankrupt their rewards programs.
After all, holders of frequent flyer miles can be construed as creditors that have a future claim to "payment.
" If you're sitting on a hoard of frequent flyer miles, this may be the best time to use them, even if you don't fly.
American Express enables you to exchange your miles for various purposes.
You can feather your wardrobe by exchanging miles for gift cards from Gap stores and from Land's End.
Under other programs you can use your miles for stays in hotels and for other goodies.
I might also take a critical look at whether you want to keep accumulating miles with airlines, especially by using credit cards.
This may be the moment to switch to cash-back cards.
If there are empty seats this summer, and you're undeterred by the flu threat, it may be timely to actually use those miles for travel.
With fewer customers, carriers are that much more likely to add freebie-flying capacity, especially at the last minute.
If airline miles were investments, I sell them short.
I just don't see much of a future for them or for many of the carriers that have been issuing them to prop-up earnings.
Not to say I have a computer model that says this bug is going to become more virulent.
We're all praying this scourge abates, and quickly.
But concern about congregating in a confined metal tube for hours on end, breathing the same air along with others identically situated, won't make for a stress-free vacation this year.
I suspect a lot of people are going to avoid public transportation, and this can only mean reduced loads and more financial trauma for carriers.
(Just today, the press reported Vice President Biden advises against using airplanes and trains as long as swine flu is a threat.
) If airlines fail in great numbers, there's no assurance they won't also bankrupt their rewards programs.
After all, holders of frequent flyer miles can be construed as creditors that have a future claim to "payment.
" If you're sitting on a hoard of frequent flyer miles, this may be the best time to use them, even if you don't fly.
American Express enables you to exchange your miles for various purposes.
You can feather your wardrobe by exchanging miles for gift cards from Gap stores and from Land's End.
Under other programs you can use your miles for stays in hotels and for other goodies.
I might also take a critical look at whether you want to keep accumulating miles with airlines, especially by using credit cards.
This may be the moment to switch to cash-back cards.
If there are empty seats this summer, and you're undeterred by the flu threat, it may be timely to actually use those miles for travel.
With fewer customers, carriers are that much more likely to add freebie-flying capacity, especially at the last minute.
If airline miles were investments, I sell them short.
I just don't see much of a future for them or for many of the carriers that have been issuing them to prop-up earnings.
