Since early September, US Airways has been offering up to a 100% bonus on the purchase of Dividend Miles. This promotion was supposed to run through September 30, 2014, though has now been extended through October 12, 2014.
Through this promotion the bonuses are tiered, based on the number of points you purchase, as follows:
- 1,000-9,000 miles = 25% Bonus
- 10,000-19,000 miles = 50% Bonus
- 20,000-29,000 miles = 75% Bonus
- 30,000-50,000 miles = 100% Bonus
You can earn 100% bonus miles on up to 50,000 purchased miles, for a total of 100,000 miles.
The cost to purchase US Airways miles is ordinarily 3.5 cents each plus a 7.5% federal excise tax, or a total of ~3.76 cents each. So through this promotion the cost to purchase US Airways Dividend Miles is ~1.88 cents per mile, assuming you maximize the promotion.
What makes this promotion especially interesting is that it’s apparently the last chance to buy miles under the current terms. For the past several years US Airways has offered a 100% bonus on the purchase of miles more often than not, though apparently they’ll be changing their approach towards selling miles. That’s why it’s kind of odd they’re extending the promotion through the middle of the month, since oftentimes they’d be releasing a new promotion altogether tomorrow morning.
This does indeed add credibility to this being the last promotion like this ever. So if you want to pick up US Airways miles for 1.88 cents each, you have just under two weeks left to do so.
Ultimately that’s not a rate at which I’d speculatively pick up miles without a short term use, given that I’m sure we’ll eventually see an award chart devaluation. That being said, if you can redeem in the near term, it’s tough to beat some of the values on US Airways’ award chart (like 120,000 miles for roundtrip Cathay Pacific first class between the US and Hong Kong).
Will you be buying US Airways miles under the current promotion?