Hospitality Management Professor Wan Yang breaks down why airline miles are so hard to value — and why travelers often overestimate their worth. She explains that dynamic pricing and limited availability mean the "theoretical value" of miles often exceeds their usable value. For travelers choosing credit cards, Yang recommends aligning benefits with lifestyle and warns that stockpiling miles or chasing flashy bonuses without strategy may lead to diminished returns.

This article was originally published by WalletHub.com on February 18, 2026.