Looking at Miami to Madrid round trip in May.
Option 1: Chase portal for 40k points + about $198.
Option 2: Transfer to Iberia for 40k + about $256 in taxes.
Cash fares seem to be around $700 depending on dates.
So portal is cheaper out of pocket and same points. On paper that feels solid for economy, but I always see people talk about these huge value redemptions and wonder if I’m “wasting” points.
Realistically I don’t see business class deals for my dates that make sense.
Would you lock this in for economy at ~40k, or hold the points for something potentially better later?
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