<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Mad4Miles:
Good point miles don't earn interest; actually they lose buying power over time....</font>
Maybe they lose value, maybe they gain. If fares go up and/or miles-for-free-ticket go down, I think that your existing miles gain in value.
If an airline cancels or restricts the program, your existing miles go down in value.
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Middle_Seat