I have accumulated nearly 500k points over the last 6 months as I spent a lot on the BMI credit card. Is there any time limit on redeeming these against flights or can I just keep collecting them and use them at some future date. It's possible I will be adding 200,000 a month or more. Thanks

Welcome to FT, marcuscent. bmi miles don't expire. That said, given that many here suspect the airline may be sold at some point in the medium term, the consensus appears to be to try to spend them as you earn them. The speculation tends to focus on LH as a buyer, and my guess is that is unlikely that mileage balances would be lost in that scenario, but they would likely be devalued and cash + miles would in all likelihood disappear (although, with that kind of miles balance, why bother with the cash...).

Wow, that's some spend rate you have! As you are accumulating at that rate, I would seriously recommend you consider also building up a balance in British Airways using the BA Amex card.

If you want award flights to the US, for example, you are restricted with BMI / Star Alliance - currently no *A flights from LHR to JFK, for example, so you need to transfer. Similarly, with BA, it is very difficult to get seats to Asia whereas they are relatively easy to get with BMI / *A. Having balances in both airlines gives you a wider range of options. You can also get one-way awards with both BA and BMI, so (for example) if you couldn't get the return dates you wanted via Diamond Club you would also have the options to consider a one-way with DC and the return with BA Miles. Its also worth remembering that BA has a fully flat (horizontal) bed in business class, whilst most Star Alliance carriers have the less comfortable sloping bed in J meaning you need to book First to get fully flat.

Its also worth considering whether it would be useful to get a generic Amex Platinum Card. You would earn 1 Membership Reward point per £1 spent, and you have a wide range of transfer options, including Hilton HHonors (1 Amex = 2 Hilton), Priority Club (1 Amex = 2 PC) and BMI (1 Amex = 1 BMI), plus various others. At present you may run the risk of having too many airline miles and too few hotel points - although I accept that if you are a Four Seasons / Ritz-Carlton / Mandarin Oriental sort of guy (as I am) then hotel points won't be much use to you as none of these chains have a loyalty scheme.

Sorry to be nosey, but may i ask, how on earth you earned so many miles in such a short space of time?

Ps. Im just jealous

It would be quite easy if you're using the card for work, you're a sole trader (or own your own company) and buy a lot of supplies from companies who accept credit cards.

Yes siree! I book all biz travel through one card for work travel- albeit a small biz, but all staff travel goes on my card.

Clever man!!

<Philsophical cape on> Nothing lasts forever. Sigh! <Philsophical cape off>

I don't know if it is a myth or the truth, but I've read a story sometime ago about a chap with a very large FFP balance mostly gleemed by charging his company's postage costs to his credit card.

(It was a big company!)

Remember that DC points DO expire if the account is idle for more than three years, not a problem at the moment but it would be a damn shame to see all those points disappear if your spending spree comes to an end.

Thanks for all the advice on this. I do also have a Hilton Mastercard and accumulate points just as quickly with that. Have stayed in Hiltons and Conrads in some very nice places and nearly always get upgraded + the stays are free because I use points. The reason I have so much spend is work-related. It's my own internet based business and I use the cards for buying "traffic". Spending hundreds of thousands per month really helps rack up the points! Great perk of the job at the moment. I do wonder if it's limitless. i.e. if I can grow my business to the point where I need to spend �1million a month will I just keep getting the points? Wonder if there is ever a point where someone says "hang on a minute..what's going on"....