I used to hoard miles but it seems every time I turn around now, their value becomes less and less. I fly three times a year to Southeast Asia and now as soon as I get the requisite miles, they are turned into a ticket.

AA 600K
NWQ 51K
UA 77K
HH 340K
Mar 175K
*wood 9K
Misc +

Typically have 400 to 600K AA miles. Generally build them up as quickly as I use them. I travel too much to use many on myself, enjoy staying home instead of traveling. Maybe one redemption per year for flights. Wife goes Business to Asia and Europe once per year and several domestic trips with family / friends off my miles.

I hoard my UA miles but I am chasing AA miles to spend the moment that I cross my required threshhold.

deleted

I always use them as soon as possible because of the continuing devaluation that is getting more frequent.

As soon as I reach Platinum status with Northwest, then I use my miles for the rest of the year for WBC to Asia. Usually I pay for tix until i reach my status for the following year. Travelling on a 120K WBC award ticket JFK-NRT-HNL-NRT-PVG-NRT-MSP-EWR for Christmas this year.

I'm with you. I have had some $US sitting around for a couple of years and have lost money ever since the $CDN has climbed to par. I have 165K Aeroplan points (140K collected in the past 5 months) that I won't be able to use for a while, however once I get the chance I'll use them. Star Alliance and AC redemptions are due for a hike.

I have about 280K miles now, but I am not trying to hoard them. I would use them now on 2 C/F international tickets with the hubby except we just don't have the vacation time. I mainly use miles on some saver awards to OGG and plan to find some time for a big trip to Asia or Australia... can't decide.

I use all of our miles for upgrades, being a silver I don't want to take a chance of sitting the the back!

I used to cash in my miles for an international upgrade as soon as I reached 25,000...but now with being exec plat about every other year, I use the evip's and save up the miles for premium class tickets for friends and family members. So I continue to earn miles, and get (slowly) ever closer to the 2MM mark.
Hotels are stranger, I tend to hang on to them, and then use them all at once, if at all, last spring using around 300K Hilton points for 2 rooms for a week in Paris with the aformentioned family members...good bang for the points!
Current balances:
AA 275K
HH 52K
Marriot 107K
SPG 130K
Hyatt 29K
ICH 55K
By some standards on this board...nothing to write home about, but I feel like I'm getting close enough for that round-the-world premium class ticket and the required hotel stays to make it memorable!
Great discussion, glad to find out I'm not the only "collector" out there...and they don't gather dust around the house.

I have 400k and the wife 250k. We plan every year to use them on a European business or first class ticket. On *A there never seems to be any availability.
The other problem is I am always concerned about making gold status, and that trip would maybe leave me short.
I guess I am waiting for a great redemption deal

onthebeach, do a search for 'ANA award booking tool', you basically sign up for a frequent flyer account with ANA (Japanese airline), which allows you to use the ANA site to search for available seats with Star Alliance partners. Very helpful, and to go one step further, you can check out the BMI forum for numerous award tickets that FTers have booked.

Congrats on your healthy Starpoint balance, and good luck in redeeming 'em!

Reformed hoarder.

In general I fly the cheapest or most convenient, so I currently have >100K on UA, DL, AA. Most of the DL miles are from the mid-90s and I regret not spending them given the massive devaluation (no more F transcons for 25k or 2Fs to Hawaii for 75k ). No such regrets with UA and AA as I normally use them as soon as I reach a target, usually international upgrade or business class award. Have been largely successful in zeroing out orphan miles with others, e.g. CO and US with no regrets. And of course WN does not allow you to hoard credits!

As for hotels I have a few points spread across many programs due to my travel patterns... have been hoarding them as you do a bit better with multi-night awards. But given frequent devaluation I will probably start spending down these balances soon.

It makes no sense to hoard these days since the airlines and hotels are continuously moving the markers by raising award costs, eliminating award inventory, etc. Better to spend as soon as you get a decent value, then to save for years for free F to Italy and 7 nights in Rome (though I'd take either in a heartbeat only to find that there are no rooms or seats available.

I used to save miles and eventually had well over a million miles but now with the constant devaluation of the miles I try to use the miles as I earn them. I fly mainly to Southeast Asia and unless I fly around holiday times, have had few problems obtaining a seat.

When they start paying interest, I'll hoard 'em.