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Cash in Your Miles: How to Sell United Miles for Extra Money

 

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Have you accumulated a significant number of United miles but don't have any immediate travel plans? Did you know that you can sell United miles for cash and turn your rewards into extra income? Selling miles has become a popular way to earn some extra money, and in this article, we'll explore how you can do it and what to consider before making the sale.

 

Finding a Buyer

The first step to sell United miles is to find a buyer. There are several websites and online marketplaces that specialize in buying and selling miles, including Points.com, Milesbuyer.com, and SellMyRewards.com. These platforms offer competitive rates, and some even have a bidding system that allows you to get the best price for your miles.

 

Before you sell your miles, it's essential to do your research and compare offers from different buyers. Some may offer a higher price per mile, but also charge a transfer fee. Be sure to read the terms and conditions carefully before committing to a sale.

 

Transferring Your Miles

Once you've found a buyer, the next step is to transfer your miles to their account. United Airlines charges a fee of $30 per 1,000 miles transferred, and the minimum amount that can be transferred is 1,000 miles. Keep in mind that the transfer process can take up to 48 hours, so plan accordingly.

 

It's also worth noting that United Airlines has a policy that prohibits the sale or barter of miles. While this policy is rarely enforced, it's important to be aware of the risks involved in selling miles. Some buyers may require you to sign a waiver acknowledging that you understand and accept the risks.

 

Considerations Before Selling Your Miles

Before selling your United miles, there are a few things to consider. First, make sure that you're getting a fair price for your miles. Do your research and compare offers from different buyers to ensure that you're getting the best deal.

 

Another consideration is the tax implications of selling your miles. According to the IRS, miles and points earned through credit card rewards programs are considered taxable income if they're sold for cash. However, the tax rules around selling airline miles are somewhat murky, and it's unclear whether or not they're subject to taxation. If you're unsure, it's always a good idea to consult with a tax professional.

 

Finally, consider the value of your miles if you're planning to use them for travel in the future. Depending on how you redeem your miles, you may be able to get more value out of them by using them for flights or upgrades. If you're not planning on traveling anytime soon, however, selling your miles for cash may be a good option.

 

Conclusion

Selling United miles for cash can be a great way to earn some extra money and put your rewards to good use. However, it's essential to do your research and consider the risks and tax implications before making a sale. With the right buyer and a little planning, you can turn your United miles into cash and use that money for whatever you need.

 

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