Milenomics² [No Annual Fee Edition] Episode 71: Ranking Bank Points for Domestic Airfare

0:55 Ranking Bank Points for Domestic Airfare

We’re talking about deeply discounted airfare, not FREE airfare. 

Every one of these programs has a cash out path–that’s great

1:45 Overview: Highs and Lows of each Program

1:59 Chase UR

Talked about the most online, but not as valuable as Amex to us

Much more straightforward than Amex

1 Cent per Ultimate Reward point earned (easy cash out on all card)

5x earning on Office Supply has been around for a long time. 

Earning at high rates, transferring to a CSR/CSP 

3:00 Earning Chase UR 

Easy to use Domestic Partners in United and Southwest

Travel Portal booking is not ideal but does have uplift

Earning with high multipliers and sign up bonuses works well

5/24 limits the number of cards you can get

Can co-mingle points

6:30 Southwest (W/ Chase UR)

Points have become less useful as Ticketless Travel Funds (TTF) have become permanent

Less transfers from UR->Southwest because TTF are so plentiful

If transferring , the best way to earn is still NOT on the Southwest credit cards. 

7:43 Booking with the Chase Travel Portal: 

Price inflation is real (American, others) Be sure to check google flights

Can see inflated prices on flights, issues when canceling

1.25 cents per point / 1.5 cents per point (20% - 33% discount on travel)

Sometimes just taking cash back at 1 cent per point is the way to pay for travel

These points are not ‘free’

10:53 Amex MR Overview

Amex is so generous that they have changed subscribers’ lives

THE most generous bank with respect to SUB, earning bonuses and referrals

The default cash back amount for a MR is 0.6 Cents ($.006) per MR with a few exceptions

Difficult to get rid of these points. 

12:41 Booking Travel with Amex MR

With such easy earning there isn’t a fast enough release valve sometimes

Their travel portal is horrible, but is mandatory for the 35% rebate

Insider fares are lower fares than anywhere else. 

Extremely high annual fee cards needed to release points at high value

To get good redemption rates with points you have to graduate to high annual fee cards

Either churn the card or pay the high annual fee (carrying costs) to get good value

Delta transfers are a great option – 1.1 cents in value per point, transfer 1:1

Holding a Delta card gives a 15% discount as well, works out to around 1.25 cents per point. 

16:26 Earning Membership Rewards

“They’ve gone crazy with the Sign up Bonuses” 

Easier to earn at a moderate level than Chase (or any other bank) 

Many high annual Fee cards, which come with many coupons/credits

Nonstarter for someone just starting out. 

18:55 Difficulties transacting with AMEX

Need High annual Fee Business Platinum for 35% rebate (approx 1.5 cents per point) 

Need High Annaul Fee Morgan stanley (1cpp) or Schwab (1.1 cpp) to cash out MR. 

Cannot co-mingle points across spouses, which means you need 2 of each of these cards!

35% rebate only on airline of choice or business/first fares. 

Extremely tricky to jump through hoops with Amex. 

26:30 Bank of America Premium Rewards

Both of us have had positive experiences with these points

Earning on the Premium Rewards Elite  card ($550 annual fee)

Cannot co-mingle with other point earning cards

No Airline transfer partners. 

Can pool with anyone easily

27:31 Booking Airfare With Premium Rewards

Good Value, affordable flights work well with these points

“Earning is not nearly as easy as Chase/Amex”

Card is churnable

Incidentals can help remove the sting of $550 annual Fee

1 cent per point easy cash out 

20% rebate on airfare, which works out to 1.25 cents per point

29:03 Unique opportunity: 20% discount

There is a Travel portal and you can use it for the uplift

BUT you also can find any flight, any airline and call in getting credited for the flight

And the BofA phone reps are GREAT. 

If there’s a higher price in their portal, or the airline doesn’t show they will let you book it directly and credit you back and rebate you 20%. 

Industry Leading. All other banks should follow  this lead

Great because you can work with the airline directly

33:35 Citi ThankYou Points

They’ve done a lot to limit the uplift on their points

Premier use to get 1.25 CPP on travel

Prestige is dead. 

Why would anyone use the Citi travel portal? 

Cash out path is so simple, 1 cent per point cash out on cards is easy. 

34:31 Citi Travel portal

No Uplift, or maybe negative uplift

Now booking.com as the engine

Pricing does not align from citi travel portal to booking.com

Inflation causes erosion of value

No upside on Airfare. 

35:36 Citi Portfolio issues

Strata Premier is their highest annual fee TYP card

Complex pooling of points

Double Cash is a great ‘all around’ card

Thank You points as a brand

38:07 Mention: Citi Transfer Partners

Leading Hotels of the World 

Wyndham (not as good as earning direct)

EVA, Turkish, other random programs

Lacks a big name domestic transfer partner, AA Transfer return is needed

40:12 Wells Fargo 

Think Fast: What are these points called? A: Wells Fargo Rewards

Autograph Journey Card

Visa Signature Card unlocks 1.5 cents per point on Autograph points. 

Straightforward earning in some bonus categories

Travel portal can be inflated

Domestic Airfare for 35% off with points earned at a high multiple. 

41:30 Honorable Mention: 

Capital One 

Quirky, nice SUB in some case

Have done a great job of marketing their points as easier to use.

That seems like an antiquated idea that people do really believe is true

But now in order to compete Capital One has added transfer partners 

This all puts them on par with most other issuers 

44:21 Rank by ease of earning and using 

You’ll just have to listen to find out!

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