Use Your Frequent Flyer Miles Now

Frequent flyer mile dos and don'ts are particularly important in light of the precarious financial state of several airlines.

Consumer correspondent Susan Koeppen explains, in Part II of The Early Show's series on travel.

The most common questions she gets include:

Q: Is it getting harder to redeem frequent flyer miles?

A: Experts say it's more difficult to use frequent flyer miles now then several years ago. The reason?

• More and more people are flying and actually paying for tickets.
  
• Prices are low.
  
• A ticket for an average domestic flight costs about $300.
  
• Many flights are full.

A: Be flexible with your dates and the places you want to go. Book early or book late. Many airlines will let you book your trip almost a year in advance. Or book at the last minute: Some seats might open up.

Also, spend more miles. The average coach seat will cost you 25,000 miles. You will have a better chance of getting a seat, if you're willing to give up 40,000 or 50,000 miles for that seat.

Q: Do miles expire?

A: Most of the big carriers say the miles don't expire as long as there is some activity. But if the account sits there for 3 years, you might lose those miles.

Q: Should you sign up for a frequent flyer program with each airline that's out there?

A: I have accounts with all the major airlines because I travel all the time for business on lots of different carriers. But to get more bang for your buck, you should focus on one carrier that really serves your needs. That way, you build miles faster.

Q: A lot of people like to hoard their miles, saving them until they have thousands and thousands. Is that a good idea?

A: Get rid of them. As soon as you hit the 25,000 mark, try to use those miles. You need to consider that some airlines are in financial trouble, so what happens if they go under? And airlines can change their rules at any time. Tomorrow, they could say, "We are eliminating our frequent flyer program. Sorry."

Q: What are some of the ways you can get rid of miles if you're not planning a trip anytime soon, or you're worried an airline is going to go out of business?

A: You don't have to use them just to get a ticket for yourself. You can donate your miles to charity. Some airlines let you use your miles to get tickets for family and friends. And if you bought a ticket, remember, you can use miles to upgrade to first class.

Q: Are credit cards that earn you miles a good deal?

A: Absolutely. You're going to be spending money on your credit cards anyway, so why not earn some miles? Just make sure to use a card that works well for you and your travel schedule.