A mileage balance is a depreciating asset held in someone else's ledger. Treating it that way leads to better decisions.
Two kinds of expiry
Activity-based expiry lapses miles after a dormant period and resets with any qualifying activity. Fixed-term expiry retires miles a set time after they were earned, regardless of activity.
Devaluation is the bigger risk
Award price increases are usually announced with little notice and sometimes none. Historically, the long-run direction of award pricing is upward.
How to protect yourself
Earn close to the redemption. Keep balances purposeful. Book as soon as a good award appears rather than waiting for a better one.
When to cut a balance loose
If you have no plausible redemption within the programme's validity window, redeeming for something modest — or requesting a sell quote where we offer one — beats letting miles lapse to zero.
Key takeaways
• Know whether your programme uses activity-based or fixed-term expiry.
• Devaluation risk is larger than expiry risk for active members.
• Book good awards when you see them.
Questions
Can expired miles be reinstated?
Some programmes offer paid reactivation. Terms vary, so check with the programme directly.
How much notice do devaluations get?
Sometimes weeks, sometimes none. Assume none when planning.
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.