Originally Posted by RJB

Me .... however I won't be doing an 'all miles' redemption again for at least another 12 months until my next Amex voucher is triggered, and with 200k BA Miles in the bank I may end up giving it a miss.

In general, buying miles to do an MFU is ALWAYS worthwhile. However, buying miles at 1.7p per mile to do an Amex voucher redemption does NOT always make sense compared to the MFU alternative.

i.e. if a Club MFU to JFK is £550 in a seat sale + tax + (net) 14,500 miles ( x 2 for a couple) and two Amex voucher freebies costs 100,000 miles, then the value per marginal mile using an Amex voucher is (£1,100 / 71,000 miles =) just 1.48p per mile.

(Using plain English - using an Amex voucher saves you £1,100 compared with an MFU but costs an extra 71,000 miles, so you are only getting 1.55p of value for those additional miles. If you haven't got an Amex voucher then you'll need an extra 171,000 miles, taking the value down to a pathetic 0.6p per mile.)

Thus, on this route, buying the miles at 1.7p to get to 100k to do a full redemption is bad value. You should stick with an MFU.

You could argue that you should be comparing the normal price of a Club fare (say £3k) with the standard mileage (100k), but since an MFU will always be available if a fully free ticket is available (same bucket) then the way I have done it is the best comparator.