Through December 31, 2012, American is selling miles at the lowest rate I’ve ever seen thanks to a 50% bonus and increased cap on purchased miles.
They’re offering up to a 50% bonus on the purchase of miles with the following thresholds:
The maximum number of miles that can be purchased through this promotion is 90,000 (60,000 base miles plus the 30,000 bonus miles) for a total of $1808.75. That’s roughly two cents per mile, which is the lowest I’ve ever seen American sell miles.
Ultimately there’s a holding cost to miles and it’s not quite a rate at which I’d purchase them (I value them at about 1.8 cents each), though in many cases I could see taking advantage of this making sense if you don’t have a lot of miles, have the need to plan immediate travel, or don’t have the ability to apply for credit cards for the sign-up bonuses. 67,500 miles will get you a one way ticket to Asia in first class on Cathay Pacific, so $1,350 for that is quite a good value if you ask me.
So if you’ve been eying American miles, it doesn’t get much better than this, assuming you don’t want to fly and take advantage of their current double miles promotion.
(Tip of the hat to Gary)