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The Golden Rule of Points and Miles
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<p>[QUOTE="smittytabb, post: 393730, member: 350"]</p><p>The problem with any kind of valuation of points or miles, especially for aspirational redemptions is that both hotels and airlines essentially have "surge pricing". Not an econ major but married one and gave birth to two, so I can speak from my only limited authority. But, if demand outstrips supply, prices tend to go up. That throws the whole valuation thing out the window. </p><p></p><p>To give you an example of this, I have the Hyatt credit card and get a category 1-4 certificate each year. So does my husband. Last year we used them back to back at the Grand Hyatt in Istanbul, which is a classic aspirational type redemption. This year I used mine at the Hyatt Regency SFO Airport. Now that doesn't sound like a very good value. It's not even a category 4. But here is the deal. I had an AA flight change that forced me to spend a night at SFO I had not intended. It just so happened it was during some huge Silicon Valley conference. The cheapest room I could find in the entire Bay Area was $800. Then I remembered my Hyatt free night certificate. Called Hyatt and bingo, got a free room. So the free room at SFO was actually a better "value" than the room in IST. </p><p></p><p>If you buy into some artificial valuation, you will also forget to be creative and remember that these miles, points and free certificates are only of value in the way that you see fit. No one else has your unique set of circumstances. Your best use is the best use.</p><p>[/QUOTE]</p>
[QUOTE="smittytabb, post: 393730, member: 350"] The problem with any kind of valuation of points or miles, especially for aspirational redemptions is that both hotels and airlines essentially have "surge pricing". Not an econ major but married one and gave birth to two, so I can speak from my only limited authority. But, if demand outstrips supply, prices tend to go up. That throws the whole valuation thing out the window. To give you an example of this, I have the Hyatt credit card and get a category 1-4 certificate each year. So does my husband. Last year we used them back to back at the Grand Hyatt in Istanbul, which is a classic aspirational type redemption. This year I used mine at the Hyatt Regency SFO Airport. Now that doesn't sound like a very good value. It's not even a category 4. But here is the deal. I had an AA flight change that forced me to spend a night at SFO I had not intended. It just so happened it was during some huge Silicon Valley conference. The cheapest room I could find in the entire Bay Area was $800. Then I remembered my Hyatt free night certificate. Called Hyatt and bingo, got a free room. So the free room at SFO was actually a better "value" than the room in IST. If you buy into some artificial valuation, you will also forget to be creative and remember that these miles, points and free certificates are only of value in the way that you see fit. No one else has your unique set of circumstances. Your best use is the best use. [/QUOTE]
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