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AAdvantage miles about to expire. Legit cash out source?

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TaperRandy
Regular Contributor

Re: AAdvantage miles about to expire. Legit cash out source?

transfer them to another AAdvantage member for a fee ($1,265.00 for OP's 100k miles).


The last sentence, is the one I have waiting the entire thread for. Transferring them for a fee, to someone who could use them and is willing to make a deal.
Resetting the clock, donating, etc....are indeed options. Just not the ones I am interested in. Kinda "donated" out actually. I support several vital causes on an above average level, regularly. Scleroderma Foundation, WWP, ALS, broke friends and family.

These points, I just wanted to convert them into cash, and put the cash towards the charity of ...me. 

EQ: 759 ; EXP: 797 ; TU: 758
BOA Cash Rewards:$27,000 ; BOA Business Cash Rewards:$30,000 ; AMEX PLATINUM BUSINESS-Open; Amex Business Blue- $30,000; AMEX Everyday Preferred: $30,000; Venture One:$11,750 ; QuickSilver:$10,500 ; CFU: $6,000 ; Home Depot: $15,000 ; Lowe's: $25,000 ; AMEX Business Plum: Open ; Discover It: $13,500; Elan Financial; $14,500; Citi Diamond Preferred-$11,000; CitiBusiness AAdvantage; $7,000; SYNC Welcome Home-$25,000
Message 21 of 25
NRB525
Super Contributor

Re: AAdvantage miles about to expire. Legit cash out source?

Is there a charity that appeals to you in the AAdvantage list of charities? If so, donating the miles to that charity avoids a cash donation. You then earmark the same cash, already in your bank account, as "funds from the AA miles" you donated and move forward with that as cash. 

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 22 of 25
longtimelurker
Epic Contributor

Re: AAdvantage miles about to expire. Legit cash out source?


@TaperRandy wrote:

transfer them to another AAdvantage member for a fee ($1,265.00 for OP's 100k miles).


The last sentence, is the one I have waiting the entire thread for. Transferring them for a fee, to someone who could use them and is willing to make a deal.
 


Trouble is that seems pretty expensive.   The Points Guy (as an arbitrary but often cited source) values the miles at 1.4c per point, so your 100K would be worth $1400.   If someone pays the fee, that leaves ~ $135 of "value" to be split between you and them which is a bad deal!

 

Against T&Cs but as you have already indicated you will take the risk, look at other brokers and see if you can find one who will take the miles once they are in your AA account rather than dealing with the credit card.

Message 23 of 25
kdm31091
Super Contributor

Re: AAdvantage miles about to expire. Legit cash out source?


@TaperRandy wrote:

transfer them to another AAdvantage member for a fee ($1,265.00 for OP's 100k miles).


The last sentence, is the one I have waiting the entire thread for. Transferring them for a fee, to someone who could use them and is willing to make a deal.
Resetting the clock, donating, etc....are indeed options. Just not the ones I am interested in. Kinda "donated" out actually. I support several vital causes on an above average level, regularly. Scleroderma Foundation, WWP, ALS, broke friends and family.

These points, I just wanted to convert them into cash, and put the cash towards the charity of ...me. 


Unfortunately, once you pay the fees involved in transferring points, you will not be left with much value.

 

I would vote for just making a tiny purchase on your card which will take you only a minute and will remove the problem by extending the expiration many months. I doubt you never plan to swipe your AA card again?

 

I really cannot think of a great way to cash them out because they aren't intended to be cashed out.

Message 24 of 25
K-in-Boston
Credit Mentor

Re: AAdvantage miles about to expire. Legit cash out source?

Paying to transfer the miles wasn't meant as an actual suggestion; I was just exhausting every possible scenario.  Unless someone has a specific redemption that offers outsided value, transferring miles usually never makes sense.  For typical economy fares, AAdvantage miles are worth 1 cent.  So it would be very unlikely that you find someone willing to buy them for 1.25 cents plus a $15 service fee.  On the other hand, if your spouse has 65,000 miles and needs 5,000 more to book an award, it might make more financial sense to you to spend $77.50 to transfer the needed miles for a free flight than to spend $700 outright on the flight.

 

Even if there were a saver business award where someone is getting say 1.7 cents, that is still a fairly large gamble someone would be taking to pay you and trust that the miles are actually transferred.

Message 25 of 25
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