One of my largest assets is about to take a hit, and there's nothing I can do about it. In January, my United Airlines points will fall in value and I'll lose my elite status. Even if I kept it, it'd be worth less.
Rewards points, it turns out, are a lousy investment. Airline and credit card companies constantly redefine how and when you can use your points, and point inflation is rampant — larger and more pervasive than dollar inflation. Credit cards regularly offer tens of thousands of points for signing up, leaving the 1,300 miles accrued on a New York-to-Florida flight practically worthless. As airlines consolidate, they also devalue what your points can buy. My United points have been hit particularly hard: According to estimates by Brian Kelly, a.k.aThe Points Guy, they are worth an estimated 1.5 cents a mile, down from 2 cents a mile two years ago. Read more...
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