Should I Choose Cash-and-Miles or Flexible Earning Options?

Let's start with Alaska's new 'choice accrual.' Starting October 1, you can pick how you earn Atmos points: 1 point per mile flown, 5 points per dollar spent, or 500 points per flight segment. The key is to match the option to your flying style. If you take lots of short connecting flights, the segment method could be a windfall. If you buy expensive last-minute business class tickets, the 5x on spend might beat the old distance-based system. You can change your selection once per calendar year, and your choice applies to flights from January 1, 2027 onward. If you don't pick, the program will default you to something—so log in and make a choice now.

As for American's new Cash + Miles bookings, the airline won't say what your miles are worth per ticket. They gave an example of 11,100 miles plus $311.37 but refused to disclose the original cash price. The analyst quoted in the coverage guesses you'll get around a penny per mile, but that's a guess. Until we see real-world data, treat this as a convenience option, not a value-maximizing one. If you have a small balance you want to use up, fine—but don't expect this to be a better deal than standard award redemptions.

On the buying-miles front, Alaska is offering up to 120% bonus on purchased miles through October 19. The price at a 100% bonus is 1.88 cents per mile. The advice from the coverage: don't buy unless your bonus is at least 100%, and even then only if you have a specific high-value redemption in mind (like a StarLux business class award). Similarly, Marriott Bonvoy is offering up to 55% bonus on purchased points through November 23, which brings the cost to about 0.81 cents per point. Since the site values Bonvoy points at a minimum of 0.7 cents, you'd need to be confident you'll get at least 0.85 cents in value to make buying worthwhile. Always check if a hotel's individual 'stay bonus' offer lets you earn points cheaper than buying them outright.