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Pastimes : Travel Forum
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From: S. maltophilia10/11/2020 3:53:14 PM
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nytimes.com

.....But perhaps the most illuminating figure is this: United estimates the value of its MileagePlus program at $21.9 billion. Over in the stock market, the value of the entire airline — its so-called market capitalization — is only about half of that figure.

At least two factors are at work here.

First, people continue to use credit cards that offer miles as rebates, instead of some other incentive like cash back. Second, few customers do the math and realize that their miles may not be worth a lot if they use them inefficiently.

Consider Delta’s gleeful filing. Under the heading “significant value creation,” Delta said American Express customers who used its co-branded cards made up 22 percent of the balances carried in 2019 by its holders of traditional credit cards....
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