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Update: Some offers mentioned below are no longer available. View the current offers here: Citi AAdvantage Platinum Select

Currently American Airlines is running a buy miles promotions, where you can buy American Airlines AAdvantage miles for as little as 2 cents per mile.

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From March 31 through April 30, 2015, you’ll earn up to 60,000 AAdvantage bonus miles, when you buy miles for yourself, or when you gift miles to a friend or family member. Below is the chart, on how many bonus miles you will receive:

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My Thoughts

As usual, the question is whether you should buy miles at these rates, and if so, which miles should you buy?

If you were to max out this promotion and buy 100,000 miles, you would be receiving 60,000 bonus miles for a total for 160,000 miles for $3,200 which comes down to only 2 cents per mile. Per my recent valuations of miles and points, I value American AAdvantage miles at 1.7 cents, so depending on your redemptions, it may make sense.

If you have a specific redemption in mind that offers you much better value, and you’re fairly certain you can book the award you want, this could be worthwhile. Otherwise, I wouldn’t buy these miles speculatively.

If you’re looking for an easier way to earn some bonus miles, the Citi AAdvantage Platinum Select MasterCard is currently offering 30,000 bonus miles after $1,000 in purchases within the first 3 months of cardmembership and the first year’s annual fee is waived.  So if you are just looking to stock up on miles, applying for one of those might be a better way to go.

Do you plan on taking advantage of this offer, and if so what redemptions do you have in mind?

The Platinum Card® from American Express

The American Express Platinum card has some of the best perks out there: cardholders enjoy the best domestic lounge access (Delta SkyClubs, Centurion Lounges, and Priority Pass), a $200 annual airline fee credit as well as up to $200 in Uber credits, and mid-tier elite status at SPG, Marriott, and Hilton. Combined with the 60,000 point welcome offer -- worth $1,140 based on TPG's valuations -- this card is a no-brainer for frequent travelers. Here are 5 reasons you should consider this card, as well as how you can figure out if the $550 annual fee makes sense for you.

Apply Now
More Things to Know
  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
  • Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
Intro APR on Purchases
N/A
Regular APR
N/A
Annual Fee
$550
Balance Transfer Fee
See Terms
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.