You see plenty of services these days advertising themselves as a way for buying and selling air miles. How lucrative are these deals? And what about buying someone else’s miles to top off your own? Many say trading of this sort not worth the risks, but that discounts the various ways in which you can get a great deal. Specifically, if you are dealing with business and first-class tickets.
In the case of an award ticket someone else booked for you, the airline company will remain ignorant of who those mils belong to. This means you could be the one flying using it, or it could be someone else. This is a major loophole in airline policy, which allows selling air miles to someone who needs it. Even with normal frequent-flier miles, it is still legal to sell them for a profit. So why not do it?
How much money can selling air miles get you? There being no set worth for them, your cash out can land anywhere depending on the deal you took. For example, there are people who manage to cash in their miles at 2 cents each. The advisable least you should try for is 1 cent per mile.
Another factor affects how much you can sell air miles for. If you have plenty, you are going to value them less than someone who is willing to part with serious cash for the deficit in their next ticket. Also of importance are the ways in which these miles can be accrued or spent, other than trading. New avenues pop up almost regularly on both fronts; the most common way to spend miles besides flights is hotel accommodations, car rentals, magazine subscriptions, etc.
It is important to gauge the worth of the mileage you are holding at the beginning of each sell or buy. If buying in advance can get you a good price then it may be worth paying cash to save those miles for a later travel date. Waiting may not get you as many miles for the same cash. Mileage mills are a good way to go if you are looking to top off your mile balance.
Websites like YYZ Miles can also set you up with a buyer who is willing to pay a good rate for what you can let go. Selling air miles was never this easy, so you should try it out someday if you are hanging on to useless mileage balance.