Frequent flyer reward points are offered by every major airline, and are often also tied to credit cards and other partner reward programs. Every program is a little bit different, and every vendor has their own special options exclusive to their reward program. Because of the diversity of programs, there are few common elements to all reward programs, and redeemable options vary significantly. The end result is that there are many different options for redeeming your frequent flyer reward points.
The most obvious option for redeeming your reward points is free flights. This is the primary incentive most consumers and business travelers have when they sign up for frequent flyer rewards programs. The specific cost vary between airlines, so you should carefully scrutinize any reward point redemption for tickets before making your booking. Southwest Airlines, for example, offers a free one-way ticket for every eight one-way flights or four round-trip flights irrespective of ticket price or distance travelled. Most other airlines give reward points proportional to either the distance you travel or the price of your purchased tickets. The advantage of Southwest’s program is that you are guaranteed a flight no matter what the price, while the advantage of other programs is that you can ration your points for smaller or larger rewards depending on your desires rather than being subject to a fixed-rate transaction.
Another popular option with rewards programs is to get upgrades on travel bookings. If you pay for a flight in coach, you can often redeem reward points for a better seat. Depending on the airline, this may be an upgrade to coach seats with more leg room, or it may be an upgrade to first class.
Because travel companies often offer synergistic reward programs, many frequent flyer programs permit you to redeem your points for car rentals, vuelo hotel rooms, or upgrades to either type of rental. These three are basically within the same category of travel necessities, and often offer reward programs of their own. As an example, someone with a high reward point balance from one airline may qualify for a free upgrade to a luxury rental car or a larger hotel room. For a traveller who flies often but rarely needs a car or hotel room, redeeming frequent flyer reward points for these additional rentals and reservations can save money and the hassle of signing up for a separate reward program with different vendors.
Beyond the travel options, many companies also offer rewards such as gift cards, gadgets, clothing, and other small gifts. If your reward point balance is too low to redeem for flights, airlines will often offer clothes from popular brands, golf accessories, cameras, and similar small retail commodities. Each airline has a separate catalogue of goods available in exchange for their credits, and while not all airlines offer this option, airlines without this option will often offer gift cards to SkyMall or other airline affiliates.
These are the basic categories of reward program options. For more information, check out the details for your specific reward program, and if you do not yet have any memberships, check which airlines fly most often out of the airport nearest you and utilize them to collect more points.