As more and more people get into the points & miles game, we're seeing an acceleration of devaluations. Opportunities to earn points disappear. Point prices go up. Transfer ratios go down. Is this the beginning of the end?

Will the points game survive?

Giant Mailbag

(00:46) - Gil has a warning story about being Bonvoyed by Bonvoy... Boundless

Main Event: Will the points game survive?

(06:28) - Devaluations keep hitting

(14:14) - Positive trends that we're seeing at the time of this recording (May 1 2026).

(15:15) - Doing this for 15 years

(17:37) - Enjoying elite status

(21:10) - Earning points getting easier

(27:54) - New opportunities to earn transferable points keep appearing

(29:00) - Point transfer opportunities are often increasing

(30:26) - Using points sometimes improves

(31:28) - Airlines

(38:37) - Hotels

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Music Credit – “Ocean Deep” by Annie Yoder

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