Originally Posted by
nk15
The moral of the story is that next time there is a 3x we have to go all in, like there is no tomorrow…
Oh I already learned that lesson long ago. I max out the $2k per 48 hours as soon as 3x starts, and wound up with around $40k worth during the last 3x promo.
Originally Posted by
VegasGambler
It's worth adding, I would not be bothering if it wasn't for the LP unless I was very low on miles. When considering the significant bonuses earned at 175k and 250k LP, it's significantly better than $3.50 for 250 miles. And of course the status has significant value too.
I also think that 1.5c is a little bit low of a valuation for AA miles. I never actually redeem them that low. Internally I apply a value of 2c.
Both fair points. If I was still scraping to requalify for EXP I suspect I would keep grinding. Most of my redemptions have been in the 2-3 cents/point range, but I discount the intrinsic value for lost opportunity cost and holding deflation. 1.5 cents is probably still on the conservative side but I'd rather err with caution rather than getting stuck with a ton of miles I can't use timely.
Originally Posted by
VegasGambler
I strongly suspect that 3x is gone for good.
The reason I use them at 1x is because $3.50 for 250 miles and LP (plus bonus) is still a very good deal. This is about 1/2 to 1/3 of the price if the very cheapest hotel deals and many people book those and don't stay.
For spend that otherwise gets no bonus it seems better than the alternative (ie, paying directly with a CC)
Certainly it is better than other manufactured deals. Maybe I'll limit my purchases to situations during 1x periods to when I can spend the whole $250 right away; this would reduce the hassle factor of tracking/using partial cards.