It’s back: Alaska Airlines allowing members to convert travel credit to miles
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.
The coronavirus pandemic is driving airlines to offer passengers more flexibility. Change-fee waivers continue to be extended, new bookings offer flexible rebooking options and mileage expirations are temporarily suspended.
Generally speaking, you won’t get a full refund when you voluntarily cancel a flight. Instead, you get a travel voucher valid for 12 or 24 months that you can use toward a future flight.
In an effort to provide passengers with more flexibility, Southwest recently added the ability to convert travel funds into Rapid Rewards points. Now, Alaska Airlines is following suit.
The airline allowed a handful of customers to convert wallet funds to Mileage Plan miles in August on a targeted basis. The airline later offered the deal to all members in October, processing all conversions at a preferred rate of 1 cent per point, so $100 equaled 10,000 miles.
Friday, Alaska announced that it’s again offering these transfers through Nov. 13 at 11:59 p.m. These transfers process at the same rate as the last promotion, so worth considering if you’re sitting on a stash of Alaska flight credits. Here’s everything you need to know.
For more TPG news delivered each morning to your inbox, sign up for our daily newsletter.
Converting Alaska wallet funds to miles
Alaska is allowing those with wallet funds to convert funds to Alaska miles for a limited time. This offer is available for all members with existing wallet credit. If you’re interested in converting your wallet funds, head to the conversion page on Alaska’s website and log in to your account.
Transfers process at a rate of 1 cent per point, so 1 cent = 1 mile. You can convert Alaska funds to miles in increments of 25%, 50%, 75%, or 100% of your total wallet balance. So if you have a $100 credit, you can convert $25, $50, $75 or $100 of your funds to 2,500, 5,000, 7,500 or 10,000 miles respectively.
Want to take advantage of this promotion? You’ll have to act fast. You can convert wallet funds to miles from now until Nov. 13 at 11:59 p.m. PT. It’s unclear if this promotion will return in the future.
Is it worth it?
Again, transfers process at a rate of $0.01 per mile. TPG values Alaska miles at 1.8 cents apiece, so you’re getting a huge discount if you agree with our valuations. You can use these miles to book travel on Alaska’s partners, including American Airlines, Cathay Pacific and Japan Airlines at excellent rates. Plus, you can add a free stopover on one-way and round-trip itineraries.
For example, you can use 50,000 miles for a one-way Cathay Pacific business class ticket from the U.S. to Asia. With the free stopover, you can book something like Newark (EWR) to Hong Kong (HKG) and Seoul (ICN), giving you hours in the airline’s top-notch business class product. You can “buy” this flight for just $500 (equal to 50,000 miles) if you have enough wallet credit to convert.
This is an especially good deal if you buy Alaska miles regularly. The airline recently offered a 60% bonus when buying Alaska miles. In effect, the airline was selling miles at 1.72 cents per mile, so the above conversion is a far better deal. Just note that miles can be devalued at any given time, including potentially in 2021, when the airline officially joins the Oneworld alliance.
Finally, Alaska wallet funds expire one year from the original travel date. By converting funds into redeemable miles, you would unlock much greater flexibility as miles don’t expire as long as there’s activity in your account once every 24 months.
It’s great to see Alaska give members more ways to use their travel credit. I highly recommend taking advantage of this offer if you value Alaska Airlines miles as highly as the TPG team does. Buying these miles at just 1.0 cents per point is an excellent deal, especially when you consider how much value you can get when booking flights on Alaska’s global partners.
Additional reporting by Benji Stawski
Featured image by Michael Rosebrock/Shutterstock
Welcome to The Points Guy!
Earn 50,000 bonus miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new card in your first three months of card membership. Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants with your card within the first 3 months of membership.
With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.
- Earn 50,000 bonus miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new Card in your first 3 months.
- Plus, earn up to $100 back in statement credits for eligible purchases at US restaurants with your card within the first 3 months of membership.
- Accelerate your path to Medallion Status, with Status Boost®. Plus, in 2021 you can earn even more bonus Medallion® Qualification Miles (MQMs) to help you reach Medallion Status.
- Earn 3X Miles on Delta purchases and purchases made directly with hotels.
- Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
- Earn 1X Miles on all other eligible purchases.
- Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
- Enjoy your first checked bag free on Delta flights.
- Fee Credit for Global Entry or TSA Pre✓®.
- Enjoy an exclusive rate of $39 per person per visit to enter the Delta Sky Club® for you and up to two guests when traveling on a Delta flight.
- No Foreign Transaction Fees.
- $250 Annual Fee.
- Terms Apply.
- See Rates & Fees