Points and Miles: May

I don't know whether you've noticed or not, but it seems that over the last six months or so, points and miles offers, especially from hotel chains have become less lucrative.

One possible explanation for this is that the improving American economy (yes, it really is improving, at least for businesses) has resulted in lower hotel vacancy rates, and thus higher room rates, meaning less need for the chains to offer incentives to fill otherwise empty rooms.

As for airlines, competition has been reduced by mergers (Delta took over Northwest, United merged with Continental, Southwest bought AirTran), and the carriers have been cutting routes and retiring older, less fuel-efficient planes in response to high oil prices. This has meant fewer seats to fill, and combined with the improved business climate, less need to entice fliers.

On the credit card front, credit has gotten tighter, not just in the U.S., but in Canada as well; and reduced competition (BMO took over Citi's Canadian credit card portfolio and TD acquired MBNA's) has meant that rejections are more common, annual fees higher, and sign-up bonuses more meagre.

Throw in the fact that both Aeroplan and AirMiles, Canada's two most popular "loyalty" programs, recently devalued their programs and it looks like the glory days of point and mile travel bargains are behind us.

This may partly explain the current popularity of such "buy-a-deal" sites as WagJag and Groupon, but pitfalls abound with these deals, so buyer beware.

Anyway, points and miles programs aren't going away: they're hugely profitable for one thing. It just means we have to work harder and smarter to get the best value from them. So here are a few good offers for this month.

The Choice Privileges MasterCard usually offers a sign-up bonus of 8K points, but until June 13, you'll get 16K. That's enough for two free nights at many Choice Hotels. All the details are here.

Starwood Hotels (Sheraton, Westin, etc.) is offering CAA/AAA members a range of discounts and special offers at properties in the southern U.S. and Caribbean through the end of 2012. Check them out here.

And for Aeroplan members, earn either a 1500 mile or 16 500 mile bonus when you complete a range of partner activities during the month of May. You have a head start if you have an Aeroplan-branded credit card and/or are flying Air Canada during the month. This page will tell you what you need to know. I love this one, because it's a challenge to see how I can maximize my activities with a minimum of spending.

I'll let you know how I did when the points post.

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