Episode Description

What really changed in the points and miles world this year—and how should that shape your strategy going forward?

In part two of our 2025 Year in Review, Kelly and I continue breaking down one of the most transformative years we’ve seen in award travel. Beyond rising annual fees and tightening loyalty programs, this year revealed deeper structural shifts in how airlines price awards, who gets access to the best redemptions, and what flexibility actually looks like going forward.

We dig into the continued expansion of dynamic pricing—and why it isn’t always the disaster it’s made out to be. You’ll hear real examples of when dynamic pricing has increased access and value, along with why moments of program change can sometimes be the best time to book.

We also explore how airlines are reshaping award access around status and cardholder loyalty in ways that go far beyond free bags or early boarding. For the first time, elite status and co-branded cards are directly impacting award availability, pricing, and even whether certain premium cabins can be booked at all.

We wrap it all up by zooming out to talk about what all of this means for 2026 and beyond—how transferable points are evolving, why diversification matters more than ever, and how to think strategically about status in a landscape that’s clearly shifting.

If you enjoyed part one of our year in review, this conversation brings the full picture into focus.

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What You’ll Learn from this Episode

• How and why loyalty programs are tightening and prioritizing their own ecosystems
• What reduced partner cooperation means for earning and redeeming points
• Why the points and miles landscape feels more complex—and more mature—than before
• How dynamic pricing continues to evolve and what it means for flexibility and access
• Where new ways to engage with points have opened up additional value
• What two new transferable points currencies signal for the future of points strategy
• Why diversification matters more than ever going forward
• Our key predictions for points and award travel in 2026

Featured On the Show

• Kelly, The Points & Miles Doc Website
• Connect with Kelly, The Points & Miles Doc on Instagram
• Listen to Part 1 of our 2025 year in review HERE
• Get on the waitlist for the Points Made Easy Course here!
• Get My Cash-Back Credit Card Cheat Sheet!
• If you have any questions or you want me to dive deeper into a specific topic, email me here: podcast@pointmetofirstclass.com 

Click here to download full episode transcript

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