What if you are accumulating thousands of miles that you will never redeem? Popular airlines allow you to give your friends and family or you have the option of passing the miles on to another account holder of the same airline – some airlines may also offer bonus miles as a reward for transferring your miles to another flyer. However, those extra miles may be able to grant you some capital. The benefit of selling to miles brokers is because it is quick, easy, secure, and most of all, brokers pay top dollar for your airline miles and credit card points. On average, major airlines are only willing to buy miles for less than 1 cent per mile or creating stringent expiration dates in which they authorized to take those miles back. A general question among frequent flyers is how much your miles are worth to a mileage broker? Brokers are willing to pay 1-1.8 cents or more for each mile or point you decide to sell, but it depends on the airline and the time of year that you are selling your miles. The most common question of all is if selling your miles to a third-party is legal. Yes, this all may seem too good to be true, but it’s true – it is legal to sell your miles to mile brokers for more money than the average airline. Here are some straightforward steps that will get you on the right track to selling your miles:
1. Find trusted miles broker.
Find a mileage broker that you are comfortable with after you have done extensive research. Make sure to check the terms of the mileage broker before you have registered with the broker’s program (Keep in mind that some brokers will not buy your miles until they have found an interested party that would like to buy your miles; so, if you are looking for an immediate transaction, carefully read the terms of the program).
2. Account verification & miles quote.
Most mileage brokers will require to request a quote before beginning the process, and you will have to provide information about yourself and your miles so that the broker can verify your account. Carefully fill out broker forms; if the forms are submitted incorrectly, the broker is permitted to void the transaction, and as a result, you may end up losing your miles.
3. Choose a payment method, and get your money.
Once your account becomes verified, brokers will promptly send you a payment through the method of your choosing. A tip for frequent flyers using mileage brokers is to make sure your broker does not require a minimum number of miles for each transaction; there are some mileage brokers that will only sell your miles if you have 150,000 miles or more miles to trade.
4. Transfer your miles.
Only after your payment is processed into your account are your points given to the mileage broker. This process ensures a smooth and secure transaction.