Jacob Passy

speaker

580 appearances 9 recordings 1 series first heard Sep 2017 last heard Jan 2025

Jacob Passy’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Airline Credit Cards: Know the Perks, the Points and the Pitfalls · 14 Jul 2023 podcast

And so folks have worked through some of those points and miles, but there's still a lot out there.

And so for that reason alone, airlines have opted to devalue how far a point or mile goes in many cases so that they are not losing revenue.

And also because of the travel boom, they're not having to do a lot of work to get folks on their planes.

And so if the choice is between someone booking with points or someone paying for a fare –

They'll want to skew in the latter direction.

And so that's yet another reason to make it so that you have to spend more points or miles to book that transatlantic flight.

So given that they devalue over time, don't sit on them for too long.

As much as a lot of us want to hoard those points and miles for that bucket list trip to, I don't know, the Maldives with the luxury flights and the luxury accommodations, those points and miles aren't going to be worth as much a year from now.

So you're better off spending them now.

They generally don't expire.

So you don't need to worry about them going away.

It's more of an opportunity cost.

They forget to account for the extra fees.

And so when you're booking with points and miles, it's easy to think of it as free travel.

But in reality, you still have to pay taxes.

You still have to pay fees.

So when you're talking about, for instance, a transatlantic flight to London, if you're flying in business class because you got all those points and miles and you're splurging, those fees can add up quite significantly.

I've heard folks say they can...

add up to hundreds or thousands of dollars.

So what you think might be a free trip could end up actually costing you.

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