LifeMiles has just launched its latest promotion to generate miles. Instead of offering a direct bonus on miles purchased, LifeMiles offers a bonus when you transfer LifeMiles to another member.
Transfer LifeMiles and get a 120% bonus
Until Tuesday, March 30th, 2021, LifeMiles offers a bonus of 120% when you transfer LifeMiles to another member. You need to log in to your account to see this offer. Therefore, I cannot guarantee that everyone is eligible for this offer. It seems to be the default offering based on the accounts I manage.
This bonus only applies to the transfer of miles between LifeMiles accounts. This does not apply, for example, to the transfer of flexible points to LifeMiles. This is only useful if you have an existing LifeMiles balance as you cannot transfer miles that you do not have.
LifeMiles charges 1.5 cents per mile transferred, and you can Transfer up to 75,000 miles per year (before the 120% bonus). In other words, it would cost $ 1,125 to transfer 75,000 miles, and it would give you a total of 165,000 miles in the account you are transferring to.
That’s like being able to Generate miles for 1.25 cents each (since you generate 90,000 miles for $ 1,125) and can combine miles in a single account at the same time.
Earning miles for 1.25 cents is an excellent price and competitive with the cost that LifeMiles typically sell miles at. This is a solid business and not only useful when you want to pool miles into a single account, but it can also be useful as a method of generating miles.
Make sure you are using the correct credit card
Actual costs may be even lower. If you do take advantage of this, keep in mind that LifeMiles processes mileage transactions directly, which means that this would count as airfare expense. Therefore, you should consider one of the following cards for your purchase, as they offer the following bonus miles for air travel expenses:
For example, if you earn 5x points for every dollar spent and value those points (like me) at 1.7 cents each, that equates to another 8.5% return. That makes the cost per mile bought essentially ~ 1.14 cents.
Is it worth it to generate LifeMiles at this price?
Avianca is a member of the Star Alliance, which means you can redeem LifeMiles on all Star Alliance airlines (which is what makes the program so great). To name a few examples of one-way premium cabin redemption rates (there are no fuel surcharges on awards):
- USA to Europe in Business Class costs 63,000 miles
- USA to Europe in first class costs 87,000 miles
- US to Southeast Asia in Business Class cost 78,000 miles
- USA to North Asia in first class costs 90,000 miles
Sometimes there are even redemption promotions that can add even more value.
Personally, I generally don’t buy speculative points in general, but for a specific use, this could be great value, whether you’re traveling first class on All Nippon Airways or Lufthansa, or traveling in business class on myriad airlines.
I recently redeemed LifeMiles for ANA First Class
Note that, in some cases, LifeMiles may not be able to access the same award availability as Star Alliance partners, good or bad. In some cases the program did not have access to affiliate awards that other airlines had access to and in other cases the opposite was true.
For this reason, I always recommend doing some dummy award searches before earning miles in a program so you can get an idea of how award availability suits your needs.
I recently redeemed LifeMiles for Lufthansa Business Class
LifeMiles no longer offers as many bonuses for transferred miles as in the past. Generating miles for 1.25 cents each (possibly even less after credit card rewards are accounted for) is good business.
Personally, however, I would only use this if you were considering a relatively short-term use of LifeMiles given the uncertainty in the industry.
Are you planning to transfer LifeMiles with a bonus of 120%?