Diversify Your Points & Miles
The classic phrase "don't put all your eggs in one basket" applies to credit card points and miles, too. You always want to be earning a mix of different types of points and miles.
There are several good reasons to diversify your points. I personally hold hotel points, airline points, and flexible/transferable points spread across multiple programs and banks. Let's look at why this is my recommendation.
The most important reason is flexibility: points across different programs give you more options for hotels and flights. Say you've settled on a destination and start researching lodging, only to find it has a Hilton property. If you have a stash of Hilton points, you'll be able to book your stay easily. But the next time you travel, your destination might have a Hyatt instead. Having a mix of points means you can book what you actually want, wherever you go.
The same logic applies to flights. One of my favorite travel tips is booking a one-way flight with one airline, then booking the return with a different program. This also helps with award availability — airlines release seats at different times, so if you miss one booking window, you can simply switch to an alliance partner or a different carrier altogether.
Devaluations are a hot topic in the points and miles world, and for good reason — we want our points to be worth as much as possible. Diversifying protects you against them. A devaluation can happen overnight, and if all your points are tied to one bank or program, your cents-per-point value can take a serious hit. Your points become worth less and won't stretch nearly as far.
Diversifying also helps you jump on last-minute deals. When you spot a great one, you want to be able to book it immediately — and having points across several programs makes that possible.
Finally, travel plans change, whether we like it or not. If all your points are locked into one program, you have little flexibility to make new arrangements if something goes wrong.
Key Takeaways:
Diversifying your points and miles across several programs is a smart move. It gives you more flexibility and protects you against devaluations, availability issues, and unexpected changes to your travel plans.
