Travel is just one way the dwindling Canadian dollar has impacted Canadians. But there is a silver lining: the value of your travel rewards is inflated. Even though it’s becoming more expensive for Canadians to go to countries where the loonie’s value is falling, the amount of travel rewards points needed to redeem a flight or a hotel booking remains the same. This results in your travel points being worth more when redeemed in countries with more expensive currencies than ours.
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We’ve used Air Miles, one of the most popular credit cards rewards programs, to illustrate the best ways to use those valuable travel rewards.
And in case you missed it: back in 2011 Air Miles announced a new expiry policy, in which miles older than five years begin to expire on a quarterly basis. This will take effect at the end of 2016.
We’ve crunched some numbers, and put together our top 5 Rules for Redeeming Your Air Miles. And be sure to keep our 5 Ways to Travel with a Weak Canadian Dollar in mind.