Wednesday, July 25, 2012

7 Steps to Take for Selling Air Miles

There are plenty of people out there who have a lot of air miles they think it would be legitimate to sell any way they like, but the truth is that this process is more complicated than they think and it takes some steps in order to understand how to do it properly. Many airlines disallow exchanging airline miles for money in order for them to maintain regulation over ticket prices. But regardless of what they are trying to do, there are still ways through which selling air miles becomes possible. Below there are the steps you will have to take for this.

1. The first thing you'd have to do is have your airline miles transferred to your family and friends with a token amount of cash received. It's recommended you consider this step if you're close to the expiration dates and would like to get something in return for all of those miles you acquired in time without gouging people that are close to you.

2. Before you decide to put your air miles on sale, it's wise that you will check the limitations set by credit card companies and airlines. In some cases you will see that some airlines can make selling air miles quite a difficult process.

3. You can also have your air miles exchanged with someone else who has points of higher value than yours. The points that haven't been converted can still be used to buy certain high valued items, for office supplies and for every day coffee cups coffee.

4. You can also consider having an account registered with an internet broker which makes selling air miles far easier and faster. Keep in mind that depending on the services you'll decide to use, you can get lower return on true value.

5. The selling of your air miles should be planned well before they will expire if you don't want your rewards to be affected. To benefit from the best value you should block the miles used for business trips and then have the rest sold.

6. Don't sell your air miles just yet. Instead, wait until you reach a level that business travelers will find enticing and only then make the move.

7. There are some cases in which you will just not be able to donate your miles and if this is the case, then just donate your miles to charity in order to get a tax deduction. The value will be written on your income tax return.

It seems that selling air miles is not that hard for those who will follow the steps outlined above. Doing so will allow them to easily and successfully sell them to a great buyer.

Tips and Warnings

1. Before you'll complete the transaction you have to make sure that you'll convince the buyer to buy your air miles to the price you have in mind. It can be hard and take some time, but if you stand your ground you can really get a good deal.

2. To help with clearing ambiguities you should make a contract that details the steps required for redeeming air miles and exchanging points between you and your buyer. Even if it's not legally binding, it's still a standard setter for the rest of the transaction.