I agree with you Stevens397, the "value" is in the opportunities that miles / points create that would otherwise be unavailable. I can't figure out why everyone feels a need to try to quantify them and even try to consider them an asset. As I have said in other threads, to me the miles / points are a coupon system that are worthless from an economic standpoint; they simply allow me to purchase travel at a substantial discount. At the end of the day, their existence will probably cause me to spend more overall on travel than I would have spent if I did not have them, so I hardly see how they have value. On the other hand, if I was not able to purchase premium class international travel at a discount using these coupons, I would simply never be able to obtain the corresponding experiences from the international travel. So to me the benefit is psychological satisfaction that cannot be quantified. So, in my opinion, people should stop trying to quantify the miles and points.