Originally Posted by
Beckles
I'm sure there are some folks on FT whose miles are a significant part of their net worth, I'm fortunate that even if I put a value on my miles (and I have a few million miles and hotel points) they are not a significant portion of my net worth, but that being said ...
The reality is, even though it's against the rules of the programs, I could liquidate miles more quickly than many other assets I own. I ... err, I mean a friend, has done this to a limited extent in the past so I am quite confident it is possible.
edited to add: Actually, I have liquidated UA, WN, and HHonors points/miles in just the past few months for work travel for which I was reimbursed cash by my firm, which at worst is in the gray area of the programs' rules since it was travel for myself they were redeemed for.
The liquidation of your miles / points - if via the work reimbursement route, it is only available to very lucky few.
Other methods of liquidation have high risk - you could be caught by the airlines (AA comes to mind) and your whole account is frozen, then miles confiscated ...
Also, have your read about how Chase closed people's UR pts earning cards because they are accused of violating program rules in transferring their UR pts to parties not their spousal units? I am sure before Chase put its foot down on this, people are freely selling / buying UR pts among co-workers and friends/families... But that is NOT a reliable way nor legit way, to liquid such "assets" which should be viewed more like a life enhancer that brings a lot of nicety to one's life otherwise would cost a lot to obtain. Enjoy them but dont treat them the way a house or a bank account or a stock portfolio is treated when you come to count your wealth.
