Airline miles are a single-issuer currency. Transferable bank points are an option on several currencies. That difference drives nearly every practical decision.
Optionality has value
Bank points that transfer to multiple airlines protect you against any single programme devaluing. Airline miles do not.
Transfers are one-way
Once bank points become airline miles, they cannot come back. Transfer only when the award is confirmed and priced.
Where airline miles win
Some awards — certain premium cabins and own-metal-only redemptions — are only bookable with the airline's own miles, which is precisely why those balances matter.
A practical split
Hold the bulk of value in transferable points and keep airline balances close to the amount you plan to redeem in the near term.
Key takeaways
• Transferable points hedge devaluation risk.
• Never transfer speculatively — transfers are irreversible.
• Keep airline balances near-term and purposeful.
Questions
Should I hold large airline balances?
Generally no. Devaluation risk sits entirely with you, and programmes change pricing without notice.
Can I sell credit card points?
Bank programme terms typically prohibit it. This site focuses on airline programmes.
MilesQuote is independent and not affiliated with, endorsed by or partnered with any airline or loyalty programme. Programme names are used for identification only. We publish no fixed rates; every quote is indicative, prepared individually, and never a guarantee of price or completion. Always check your programme's own terms before acting.