Originally Posted by narvik

I will say this about ETCs: to me they are worth something like 30c per $. If the amount is small, I just let them expire, and ones that have more significant value are applied only reluctantly.
Almost always creates some kind of problem.

Many on here successfully apply them (even multiple ones), but it has never really worked well for me.

UA undoubtedly has a pretty exact figure of how much ETC "currency" it issues and how much actual ETC $$$ are used/applied. My guess is that this is around 50%.
The fact that ETCs aren't readily available from the purchasing page online, or even visible online, and that there's only ever one email with its number sent out, tells me that UA is happy the way it handles this.

UA ETCs: another money grabbing scheme by UA, all quasi-legal, but definitely with a strong whiff of "on display in the bottom of a locked filing cabinet stuck in a disused lavatory with a sign on the door saying ‘Beware of the Leopard."