Time to get rid of my miles?
Mar 21, 2020, 11:06 am
#1
Original Poster
Join Date: Dec 2007
Location: CLE
Programs: UA GS, Marriott Plat, National Executive Elite
Posts: 115
Time to get rid of my miles?
Have several million, just never got around to using them. Time to trade them for something tangible in case they become worthless?
Mar 21, 2020, 11:14 am
#3
Join Date: Oct 2009
Location: Chicago, IL
Programs: UA 1K MM, HHonors Diamond,PC, Marriott Rewards Gold
Posts: 1,117
Who knows
I decided to hedge my bets. I bought an iPad Pro with miles last week just in case so I don’t feel like I lost everything should it take a fall.
Mar 21, 2020, 11:28 am
#6
Join Date: Jan 2003
Location: New York, NY, USA
Programs: UA 1K - 2.1MM, HH LT Diamond, IHG Diamond, Bonvoy LT Titanium, Hyatt Glob
Posts: 766
Other US airlines didn’t liquidate and their programs are too valuable to discard, so the miles remained intact.
Outside the US, failed airlines programs did go bust and people lost their points/miles.
Mar 21, 2020, 11:30 am
#7
FlyerTalk Evangelist
Join Date: Oct 2001
Location: Austin, TX
Posts: 21,395
That said, this is a new age, and I don't think anybody really knows what to expect.
Mar 21, 2020, 11:31 am
#8
Join Date: Oct 2009
Location: Chicago, IL
Programs: UA 1K MM, HHonors Diamond,PC, Marriott Rewards Gold
Posts: 1,117
Why gamble?
I didn’t keep mine in a huge pile this last year as I saw less and less value in redemption for international travel. With fares likely to cheapen beyond our wildest dreams in the next 12 months I just decided to buy some fitness equipment and snagged the Bowflex home gym. I won’t be traveling for vacations but need to get to the gym and decided home is the new gym.
Mar 21, 2020, 12:53 pm
#9
Join Date: Dec 2014
Programs: UA GS ,QF Plat
Posts: 686
When Pan Am liquidated, Delta took over the Pan Am Worldpass program and rolled it into Delta Frequent Flyer. Nothing was lost.
Other US airlines didn’t liquidate and their programs are too valuable to discard, so the miles remained intact.
Outside the US, failed airlines programs did go bust and people lost their points/miles.
Other US airlines didn’t liquidate and their programs are too valuable to discard, so the miles remained intact.
Outside the US, failed airlines programs did go bust and people lost their points/miles.
Mar 21, 2020, 1:27 pm
#11
Join Date: Jan 2003
Location: New York, NY, USA
Programs: UA 1K - 2.1MM, HH LT Diamond, IHG Diamond, Bonvoy LT Titanium, Hyatt Glob
Posts: 766
Interesting 1991 NY Times article about the Pan Am bankruptcy and the fate of the WorldPass program. Also mentions a $100 million guarantee with United on routes should they cease to operate. This is before the program was eventually sold to Delta. You can use private mode in your browser if you hit a paywall.
https://www.nytimes.com/1991/01/09/b...nt-fliers.html
https://www.nytimes.com/1991/01/09/b...nt-fliers.html
Mar 21, 2020, 1:37 pm
#12
Join Date: Oct 2004
Location: Clinging to the edifices of a decadent past from the biggest city in America nobody really cares about.
Programs: (ಠ_ಠ)
Posts: 9,077
Interesting 1991 NY Times article about the Pan Am bankruptcy and the fate of the WorldPass program. Also mentions a $100 million guarantee with United on routes should they cease to operate. This is before the program was eventually sold to Delta. You can use private mode in your browser if you hit a paywall.
https://www.nytimes.com/1991/01/09/b...nt-fliers.html
https://www.nytimes.com/1991/01/09/b...nt-fliers.html
Here's a link to the article you posted: Pan Am Reassures Ticket Holders and Frequent Fliers - The New York Times
Mar 21, 2020, 3:50 pm
#13
Join Date: Dec 2004
Location: SFO
Programs: BART Platinum, AA Plat Pro
Posts: 1,158
I would not expect any US3 miles to become worthless by next year, but given that they're probably depreciating by at least 10% per annum even during normal times, OP might ask themself why they're sitting on so many miles to begin with.
Mar 21, 2020, 4:02 pm
#14
Suspended
Join Date: Aug 2010
Location: DCA
Programs: UA US CO AA DL FL
Posts: 50,262
I would not remotely consider anything that has happened in the past as impacting the future. Absolutely impossible to know what conditions Treasury might impose on a bailout if Congress imposes it.
Bottom line is that banking miles is never a great idea and if you are sitting on a ton right now, maybe it's better to cut losses even though the program will likely survive.
Bottom line is that banking miles is never a great idea and if you are sitting on a ton right now, maybe it's better to cut losses even though the program will likely survive.