Flexible Points 101

All points are not created equal. Some rewards points are valid only with one airline – and by extension, with that airline’s specific circle of partners. But there are other types of points that don’t lock you in. Flexible points, like the kind you can earn through PayRewards, give far more freedom. Flexibility brings choice and when you have flexible points to spend, you’d be surprised just how wide your travel options become.

There’s no limit to the number of PayRewards Points you can earn or transfer. By processing your business’ everyday payments through PayRewards, you could earn up to 2 flexible PayRewards Points for every dollar spent.

We have some incredible transfer partners including Cathay Pacific Asia Miles, Singapore Airlines KrisFlyer, with more on the way, but PayRewards points go beyond travel. You can redeem your points for almost anything, from gift cards to luxury goods through our custom redemption option. You can even pay down an invoice with points!

If you haven’t used a flexible points program before, here’s how you can extract maximum value for your business, and travel with greater ease using points.

Major flexible points programs in the United States

Flexible credit card points are a familiar concept to most Americans. One popular program is American Express Membership Rewards, which allows eligible cardholders to earn points directly with AMEX, before converting them into frequent flyer miles or hotel loyalty points with American Express’ range of partners.

Similar programs include Capital One Rewards, Chase Ultimate Rewards and Citi ThankYou Rewards. These programs allow members to generate flexible points on their credit card transactions and convert them into frequent flyer miles or other rewards.

PayRewards takes flexible points earning to the next level. We allow businesses to earn flexible points on their routine payments by allowing business owners to put more routine expenses on their business credit cards. But on top of that, you can earn extra bonus points on every payment processed through the PayRewards platform, even ACH and debit transactions. It’s a double dip- the good kind!

The advantages of flexible points

Unlike frequent flyer miles that come attached to a specific airline, flexible points are yet to have their destiny determined. When you have multiple transfer partners to choose from, your flexible points can go where you need them. That means more ways to put your points to work:

• Access more award seats. Look beyond your usual frequent flyer program. With flexible points, you’re free to hunt for award seats through other airline programs as well. Find something suitable, transfer your points, book, and relax. It totally beats paying full fare.

• Seek out the best available deal. There typically several ways to book the same flight using miles. When you can access multiple frequent flyer programs, you can find the program offering the lowest award rates for your trip. That’s more points left to spend on your next flight!

• Mix and match. One transfer partner might be able to get you where you want to go, but not get you home. With flexible points, grab that one-way flight while you can, and make use of a different frequent flyer program for the return leg.

• Avoid inflexible mileage expiry rules. Some frequent flyer programs adopt a ‘use it or lose it’ approach to their miles, preventing you from building your balance over many years to book one dream award flight. But with flexible programs like PayRewards, the fixed-date rules of airlines become less relevant. That’s because you can hold onto your points in PayRewards until you’re ready to transfer and fly.

• Escape mileage devaluations. Every now and again, just about every frequent flyer program hikes the number of miles needed to book award flights. That’s most impactful for people with large mileage balances in that airline program. But by keeping points in a flexible program like PayRewards, your options remain on the table.

From time to time, PayRewards may also run various points transfer promotions. Convert your points when these deals are active and you could receive even more frequent flyer miles than you normally would. It’s one way that airlines entice you to shift your flexible points into their program, when they know you have many other options as well.

The flexible points traps to avoid

Flexible programs do run the risk of too many options. Don’t fall into the analysis paralysis trap! Avoid flexible points pitfalls with the following tips:

1. Some people make the mistake of transferring miles on autopilot to the airline they’re most familiar with. But once that’s done, most of your options are lost. Hang onto your points until you’ve done your research, then decide where you want to transfer the points.
2. Not every point or mile is created equal. Flexible programs, including PayRewards, apply conversion rates when transferring points to each partner. Make sure you know the transfer rate before you commit! If you’re banking your points for a trip, it helps to know how , PayRewards Points convert to Cathay Pacific Asia Miles and Singapore Airlines KrisFlyer miles at a 1:1 rate, so every dollar you transact on PayRewards could earn you two Cathay Pacific or Krisflyer miles!
3. Don’t forget about your options. If you aren’t traveling much at the moment, but if you have points burning a hole in your pocket, you can always opt for a custom redemption like a gift card or a luxury good.

Flexible points are the secret weapon of any savvy business owner. And with PayRewards points, the redemption possibilities are endless. So, what are you waiting for? PayRewards is ready and waiting to take your rewards points game to new heights.

Written by PayRewards

Share this guide

About the author