But the burn rate is dramatically different between QFF and AA -- the miles are worth radically different amounts. How different depends on the award you want to redeem. Occasionally QFF is cheaper (e.g. for short one-way awards -- AA has no one-ways so you pay for the RT); but for J or F awards it generally takes 2-3x as many QFF points as AA! Which is optimal really depends upon what awards you redeem. I have found QFF excellent at times -- but these times are increasingly rare, and 99% of the time AA is more valuable, and often more than 100% difference between the 2 (when including the whole earn/burn cycle, with promotions, but excluding the value of VIP on AA). So there really isn't a simple answer; but be glad of this, most of the arbitrage opportunities exist due to the quirks in the various plans. Over time they are all degrading to be equally bad -- so plan to spend your points quickly!!!!!