As I’ve blogged about before, American will be changing their million miler program on December 1, 2011, and no longer count all miles earned towards million miler status. Lots of people are in a rush to try and lock in either lifetime Gold (one million miler) or lifetime Platinum (two million miler) status, so here’s a deal that isn’t half bad for helping accomplish that.
Through the end of September, the AAdvantage eShopping Mall is offering ten bonus miles per dollar spent on Sears gift card purchases. That means if you purchase Sears gift cards you would earn 11 American miles per dollar (ten bonus miles per dollar, plus the one mile per dollar spent on your AAdvantage Citi credit card). As far as I can tell there’s no restriction against buying Sears gift cards, and no limit to the number of miles that can be earned.
Then after you’ve bought the gift card, you can sell it at Plastic Jungle for 83 cents on the dollar.
As an example, if you purchase $91,000 worth of Sears gift cards through the AAdvantage eShopping Mall you would earn over a million miles (assuming 11 miles per dollar). Then you can resell the gift cards at Plastic Jungle for around $75,000, making the cost around $16,000.
That would earn you a million miles and lifetime Gold status. Gold status or not, under 1.6 cents per mile is actually a really good deal. A Cathay Pacific first class award redemption costs 135,000 miles, so you’re basically paying just under $2,200 for that ticket.
Now, there’s one massive thing to keep in mind. I assume the percent off face value that Plastic Jungle will buy gift cards at is a function of supply and demand. Something tells me they don’t have a use for a billion dollars worth of Sears gift cards. Hell, they might not even have a use for $90,000 worth of Sears gift cards. So if you’re interested in this, proceed fast, proceed with caution, and ideally proceed with moderation. I’d hate to see one of you stuck with $90,000 worth of Sears gift cards.
(Tip of the hat to FrequentMiler)