How To Get Peak Value For Credit Card Points/Miles

Here’s the TBL column that will appear in Sunday’s Courant. But you’re so lucky to have an Internet connection that you can read it now!

Take a break from the wearisome tracking of your 401(k), IRA and savings account. How’s your stealth investment — credit-cards, rewards points and frequent-flyer miles — looking lately?

Whether you treat them like found money or critical funding for annual family vacations, these accounts shouldn’t be treated cavalierly. Redeem miles as needed, but know where you’ll find the best values.

Tim Winship, founder of FrequentFlier.com, co-author of “Mileage Pro — The Insider’s Guide to Frequent Flyer Programs” and a contributor to SmarterTravel.com, says miles are best spent on airfare or travel-related expenses like hotel and car rentals. Merchandise, though tempting, is usually the worst deal.
On average, he says, you’ll get two-thirds of a cent per mile redeemed for merchandise.

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