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Last year, I booked an Air Canada one-way business class flight to Australia for 106,000 Aeroplan points, which is at the lower end of what you can expect to find in Aeroplan’s dynamic pricing model for Air Canada flights. On most other days, that same flight prices out in excess of 400,000 points, which is much less of a deal in my opinion.

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Dream redemptions, like a luxury stay in the Maldives, are most easily achieved when travellers set a specific goal and work backward to identify the most efficient loyalty program for the job. Photo by T.J. DUNN /ALL POINTS WEST TRAVEL

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There are, however, a few strategies you can adopt to position yourself for success and shield yourself from devaluations. 

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Quite possibly the most important strategy is to earn (and redeem) with purpose.

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Rather than collecting points in a wide variety of loyalty programs for future consideration, set yourself a redemption goal and then work backwards from there.

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Learn about which airlines operate flights to your preferred destination, and then figure out which loyalty programs have access to those flights and how much it might cost in points with each.

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From there, focus your efforts on earning the points that you need to meet that specific goal, and once you have enough points for the redemption, book it.

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During your research, you may be surprised to find that the best program to book your flights through isn’t the airline’s own program.

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For example, you can of course book WestJet flights with WestJet points in the WestJet Rewards program, but did you also know that you can book WestJet flights with Delta SkyMiles and Air France KLM Flying Blue miles? Some loyalty points are easier to earn than others, and often the best program with which to book a flight isn’t with the airline’s own program.

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Identical WestJet economy seats can often be booked through multiple loyalty programs, including Delta SkyMiles or Air France KLM Flying Blue, sometimes at a lower points cost than the airline’s own rewards program. Photo by T.J. DUNN /ALL POINTS WEST TRAVEL

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On a related note, it’s best to prioritize collecting points that give you the most flexibility for redemptions.

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In Canada, American Express Membership Rewards points offer access to Air Canada Aeroplan, The British Airways Club, Air France KLM Flying Blue, Cathay Pacific Asia Miles, Delta SkyMiles, and Etihad Guest, as well as Marriott Bonvoy and Hilton Honors on the hotel side. Similarly, RBC Avion Rewards points offer access to The British Airways Club, Cathay Pacific Asia Miles, American Airlines AAdvantage miles, and WestJet Rewards. 

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The way that I like to think about it is that every American Express point that I earn is effectively an Aeroplan point, a Flying Blue mile, a British Airways Avios, etc.

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In practice, both programs afford you the ability to shop around for flights in different loyalty programs, and then transfer them into the one that offers you the best redemption for your desired flight. By keeping your points flexible and transferable, you are also shielding yourself against devaluations by not shoehorning yourself into one program and being subject to any changes that come with or without notice.

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If you don’t want to learn the ins and outs of loyalty programs, both programs offer access to easy redemptions through travel portals (as do other points programs, like TD Rewards, CIBC Aventura, BMO Rewards, and more). Just keep in mind that the value you get by redeeming points this way is often less than through external travel loyalty programs.

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Alternatively, you can look at a program like Scene+, which lets you book travel directly with any travel vendor of your choosing and redeem points against the cost. This way, you’re not forced to book through an online travel agency, and you can shop for the flights that work best for you without being subject to pricing and availability through a particular website. Just bear in mind that the value you can get from some programs (like Scene+) is fixed at 1 cent per point, whereas the value you can get from other programs (like Aeroplan) depends on your redemption.