US Airways is offering a 100% bonus on sharing miles through October 31, which is by far the most lucrative promotion we’ve seen to “purchase” miles in a long time.
US Airways charges one cent per mile to share miles, plus a $30 transaction fee and 7.5% tax. The only “catch” with the promotion is that members can receive a maximum of 50,000 miles during the promotion period (not including the 100% bonus). That’s to say you can transfer as many miles out of an account as you’d like, but can only transfer 50,000 miles into a single account and earn the bonus. Furthermore accounts have to be at least 12 days old to be eligible to participate in this promotion.
So to put this into numbers, transferring 50,000 miles would cost $567.50, and you’d essentially be generating 50,000 bonus miles. That’s a mere 1.14 cents per mile, which is amazing. At that rate this should be a no brainer for anyone eying Star Alliance award tickets to take advantage of this.
Just remember the restriction as to the maximum number of miles you can transfer. If you’re just looking to top off a single account and don’t have any other accounts with miles, you might be best off transferring 25,000 miles to another account for $298.75, which well get you 50,000 miles in that account. Then you can transfer those 50,000 miles back to your account for $567.50, giving you a net gain of 75,000 miles for $866.25.
Of course if you have multiple accounts you’re willing to top off, you can do much more with this.
Lastly, keep in mind that these transactions are processed by points.com, which isn’t coded as travel for the purpose of credit cards (in other words no 5x points on the Chase Freedrom, 3x points on the American Express Premier Rewards Gold card, or 2x points on the Chase Sapphire Preferred).
(Tip of the hat to Gary)