Originally posted by NYC1:
This was exactly my thought.
Two items make this a "must pass:"
1. Paying taxes on the FF miles awarded and,
2. Earning 3.xx% vs. 6+% most money markets are paying presently.
On $30,000, a difference of 3% for 90 days is around $222. Add in the taxes of around $400 on the $1,000 worth of miles, and this is costing about 1.25 cents per mile.