Valuation: Starpoints have been the most valuable
loyalty currency on this list for a while, but a few unexpected uses of points recently has me valuing them even higher.
Not exact matches
«PIAC is calling
on policy makers to define «
loyalty currency» as a form of non-cash payment, with the intention of having
loyalty currency enjoy protections similar to other forms of payment under the payments system in Canada» added John Lawford, Executive Director of PIAC.
In order for
currency on a scale such as local community
currencies or
loyalty points to be linked to other
currencies, there is a need for a method to provide a medium of exchange that allows for the difference in scale.
On November 13, Virgin Atlantic made major changes to the earnings rates,
currency value, and qualification requirements for its Flying Club
loyalty program.
In fact, I already covered a lot of the negatives of Starpoints in my series last year
on the downsides of all the flexible
loyalty currencies (see «Wait, Maybe SPG Starpoints Are The Worst Points Ever «-RRB- and I don't want to repeat myself here, even though that would make things super easy and I would be able get back to my primary task of waiting impatiently for football season to start.
There's a wide variety of opinions
on the value of every
loyalty currency, and while you might think a Starwood point is worth 2.1 cents, another person might say it's worth only 1.8 cents.
On November 13, Virgin Atlantic made major changes to the earnings rates,
currency value, and qualification requirements for its Flying Club
loyalty program.
They're a
currency that can be converted to a number of
loyalty programs I value (like Hyatt Gold Passport, Singapore Airlines Kris Flyer and Korean Air SkyPass) at a 1:1 ratio and with the 2 x earnings
on dining and travel (two categories I seem to spend quite a lot in!)
We only had enough
loyalty «
currency» for one coach airline ticket
on Continental (now merged with United) and an overnight pre-cruise stay at the Waikiki Beach Marriott Resort in Honolulu.
They are just one more example of how this game is evolving to require greater focus
on diversification and optimization of every available
loyalty currency.
On top of getting money back via TopCashback I can pay with my rewards credit card (so I earn points in my preferred
currency), I have my status recognised at the hotels I book at and I earn further points in the hotel's
loyalty program too.
The Heathrow Rewards»
loyalty programme allows customers to collect points each time they make a purchase at the airport
on products and services such as parking,
currency exchange, shopping, eating and drinking.
No one wants to waste their Starpoints (probably the hardest
loyalty currency to earn)
on a Category 2 hotel in Fresno — guests want to be able to have those once - in - a-lifetime trips and stay at hotels like the ones I've been mentioning.
British Airways has launched a flash sale
on its Avios
loyalty currency that runs for 3 days through to Thursday 26 May and which gives Executive Club members the opportunity to purchase up to 100,000 Avios with a 40 % bonus added
on top.
Both
loyalty currencies cost around the same in the promotions but with MileagePlus miles you can avoid paying fuel surcharges when using them
on United and a number of other airlines and,
on top of that, you can purchase long - haul premium cabin awards
on United for fewer miles than you can
on British Airways.
These
currencies are least prone to sudden devaluations — airlines and hotels like to devalue their
loyalty programs
on an all too frequent basis so holding a transferable
currency gives me the option to avoid a recently devalued program if it no longer offers me value.
The advice here is general, and whats best for you will depend
on your circumstances such as where you live and where you fly, what cards you have, how you value the various
loyalty currencies, and what your travel goals are for the next year or two.
Most airline and hotel
loyalty programs offer regular promotions where, if you buy their
loyalty currency, they'll either give you bonus miles
on top of whatever you purchase or offer a discount
on the regular price.
Customers will continue to earn and redeem
currency through the frequent flyer
loyalty programs of their Marketing Carrier, regardless of the Operating Carrier they travel
on.
I also noted which credit cards out there can help you rack points up fastest, in case you decide you want to focus in
on a
loyalty currency you haven't considered previously.
If your total costs after liquidation were 1 %, that would make for an 80 % or higher discount
on your travel, which is competitive with virtually any
loyalty currency out there.
Speaking with TechCrunch, AirAsia CEO Tony Fernandes laid out a plan for the $ 3 billion company to develop a proprietary cryptocurrency that could replace its current «Big
Loyalty» rewards program and serve as a native
currency on the firm's nascent financial services platform.