What To Know
- If you’re not interested in redeeming your miles for cash back or transferring them to partner programs, you can also sell your Alaska Airlines miles to third-party marketplaces.
- If you have a large purchase coming up, you can use your Alaska Airlines credit card to pay for it and then redeem your rewards points to cover the cost.
- If you don’t want to redeem your miles for cash back or use them for travel, you can also redeem them for gift cards to your favorite retailers.
In today’s digital age, credit cards have become ubiquitous, offering convenience and rewards. If you’re a frequent flyer with Alaska Airlines, their credit card can be a valuable tool for earning miles and perks. But did you know that you can also use your Alaska Airlines credit card to get cash?
In this comprehensive guide, we’ll explore the various methods available to convert your Alaska Airlines credit card rewards into cold, hard cash. Whether you need a quick influx of funds or are looking for a way to maximize the value of your miles, we’ve got you covered.
Redeem Miles for Cash Back
The most straightforward way to get cash from your Alaska Airlines credit card is to redeem your accumulated miles for cash back. Here’s how it works:
- Log in to your Alaska Airlines Mileage Plan account.
- Navigate to the “Redeem Miles” section.
- Select the “Cash Back” option.
- Enter the amount of miles you want to redeem.
- Confirm your redemption.
The value of your miles will vary depending on the current redemption rate. Typically, you can expect to receive around 1 cent per mile.
Transfer Miles to Partner Programs
Another option for getting cash from your Alaska Airlines credit card is to transfer your miles to partner programs that offer cash back rewards. Some of the most popular partner programs include:
- Bank of America Travel Rewards: Redeem Alaska Airlines miles for cash back at a rate of 1 cent per mile.
- Capital One Venture Rewards: Transfer Alaska Airlines miles to Capital One Venture Rewards and redeem for cash back at a rate of 1 cent per mile.
- Chase Ultimate Rewards: Transfer Alaska Airlines miles to Chase Ultimate Rewards and redeem for cash back at a rate of 1.25 cents per mile.
Sell Your Miles
If you’re not interested in redeeming your miles for cash back or transferring them to partner programs, you can also sell your Alaska Airlines miles to third-party marketplaces. These marketplaces connect buyers and sellers of airline miles, allowing you to get cash for your miles without having to redeem them yourself.
To sell your miles, you’ll need to create an account with a reputable marketplace. Once your account is set up, you can list your miles for sale and wait for buyers to make offers. The price you receive for your miles will vary depending on the current market demand.
Use Your Credit Card for Balance Transfers
If you have high-interest debt on other credit cards, you can use your Alaska Airlines credit card to perform a balance transfer. This involves transferring your existing debt to your Alaska Airlines credit card, which typically offers a lower interest rate.
Once the balance transfer is complete, you can use the cash you would have spent on interest payments to pay down your Alaska Airlines credit card balance. This can be a great way to save money on interest and get rid of your debt faster.
Pay Yourself Back with Points
If you have a large purchase coming up, you can use your Alaska Airlines credit card to pay for it and then redeem your rewards points to cover the cost. This is essentially a way to get cash back on your purchase without having to pay any interest.
To do this, simply use your Alaska Airlines credit card to make the purchase. Once the purchase is complete, you can log in to your Mileage Plan account and redeem your points to cover the cost of the purchase.
Use Your Miles for Gift Cards
If you don’t want to redeem your miles for cash back or use them for travel, you can also redeem them for gift cards to your favorite retailers. This is a great way to get discounts on everyday purchases and save money.
To redeem your miles for gift cards, simply log in to your Mileage Plan account and navigate to the “Redeem Miles” section. Select the “Gift Cards” option and choose the retailer you want to redeem your miles for.
Takeaways: Maximizing the Value of Your Alaska Airlines Credit Card
Your Alaska Airlines credit card can be a valuable tool for getting cash and saving money. By understanding the different methods available to convert your miles into cash, you can maximize the value of your rewards and make the most of your credit card.
Frequently Asked Questions
Q: What is the best way to get cash from my Alaska Airlines credit card?
A: The best way to get cash from your Alaska Airlines credit card will depend on your individual circumstances. If you need cash quickly, redeeming your miles for cash back is a good option. If you want to save money on interest payments, performing a balance transfer can be a great choice.
Q: Can I sell my Alaska Airlines miles?
A: Yes, you can sell your Alaska Airlines miles to third-party marketplaces. The price you receive for your miles will vary depending on the current market demand.
Q: Can I use my Alaska Airlines credit card to pay for everyday purchases and get cash back?
A: Yes, you can use your Alaska Airlines credit card to pay for everyday purchases and then redeem your rewards points to cover the cost. This is essentially a way to get cash back on your purchases without having to pay any interest.
