If you've ever redeemed for a free flight you should know that miles have a corresponding Peso value depending on how you redeem them. If you wanna learn how to calculate the value of your miles check out The Quirky Yuppie's guide here.
The simple formula to calculate the value of your miles is cash price divided by the number of miles needed to redeem for that same flight. Sometimes a redemption could be more valuable than another and sometimes even cash is better.
Related: Ultimate Comparison between Philippine Airlines' Mabuhay Miles and Cebu Pacific's GetGo in 2020
For example, Cebu Pacific has a promo from Cebu to Hong Kong right now at ₱499 while also having a GetGo redemption promo for the same flight at 1,500 GetGo points. That gives you a ₱0.33 value per point on this flight.
If you take out the cash promo, the price for a one way flight from Cebu to Hong kong would come around ₱3,800 more or less. Then if we apply the redemption promo of 1,500 GetGo points to that flight you would yield a value of ₱2.53 per GetGo point. Thats a HUGE difference and a full ₱2.20 difference per point!
In a scenario like that where the cash price is so cheap and the redemption rate is so low, I personally would rather pay cash for that flight and save my points for a much better deal in the future. Also note that most of the time, the higher the cabin class the better redemption value is just because of how expensive cash prices are for Business class and First class.
By calculating the value of your miles per redemption you can better decide on which flights are much worth it to just pay in cash rather than redeeming your hard earned points and miles. But this also all depends on your own personal situation as you may really need to fly and don't have extra cash you're willing to shell out of pocket to book a flight or what not then go ahead and redeem your points and miles.
Bottom line
Since flight prices are so cheap with airline promos left and right, the value per mile is just so low especially with airlines like Philippine Airlines that use a traditional flight award chart and Cebu Pacific doing double promos with GetGo.
It always helps to know how much you're getting out of every point and mile as better decisions help us save and fly more or better in the future. Also as much as we want to save our points and miles for better redemptions, remember not to hoard them for too long as they tend to devalue over time! :(
Btw when we say pay with cash we mean credit card. Don't use actual cash to pay.
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