Points and miles glossary
40 terms that come up in our articles, each in one sentence, with the guide that goes deeper. Every term has its own link you can share.
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- 5/24
Also called the 5/24 rule
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Chase will not approve a new card if you have opened five or more personal cards from any issuer in 24 months.
Our guide: The Chase 5/24 Rule, Explained
A
- annual fee
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What a card issuer charges each year to keep an account open, separate from interest and any other fees.
- Avios
-
The shared points currency of British Airways, Iberia, Aer Lingus, Qatar Airways and Finnair.
Our guide: Amex to Avios: The 1:1 Ratio, Transfer Times and How Transfer Bonuses Work
- award availability
-
Whether a program is releasing seats or rooms at award prices on the dates you want.
Our guide: How to Use Points for Holiday Travel When Award Seats Disappear
- award booking
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Reserving a flight or hotel night with points or miles rather than paying the cash price.
Our guide: Award Booking Strategies: How to Maximize Your Points and Miles
- award chart
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A published table of how many points a program charges for a route or property tier.
Our guide: How Award Flights Work: Charts, Dynamic Pricing and What You Still Pay
B
- business class
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The cabin between premium economy and first, typically with a flat bed on long flights.
Our guide: How to Book Your First Business Class Flight With Points: An 8-Step Guide
- buy points
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Paying a program cash for points or miles directly, which pays off only when the price beats the award's value.
Our guide: Buying Airline Miles and Hotel Points: When the Math Actually Works
C
- cash back
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A reward paid as money off your statement or into an account, rather than as points or miles.
Our guide: Cash Back vs. Travel Rewards Credit Cards: How to Choose the Right One
- category bonus
Also called bonus category
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An elevated earning rate on a defined kind of spending, such as dining, groceries or travel.
Our guide: Best Credit Cards with Rotating Bonus Categories 2026
- cents per point
Also called cpp
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What one point is worth, found by dividing the cash price you avoid by the points you spend.
Our guide: Marriott Bonvoy Points Value: A Cents-Per-Point Strategy Guide
- Companion Pass
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A Southwest benefit letting one chosen person fly with you for taxes only, on paid and award fares.
Our guide: Southwest Companion Pass: When to Earn It for Nearly Two Years of Free Flights
D
- devaluation
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A program raising its award prices or cutting a benefit, so the points you already hold buy less.
Our guide: The 2026 Travel Rewards Playbook: Beating Devaluations and Maximizing Value
E
- elite status
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A tier in an airline or hotel program that unlocks benefits such as upgrades, free nights or waived fees.
Our guide: Best Credit Cards for Elite Status in 2026: Airline and Hotel
F
- first class
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The top cabin on an aircraft that offers one, above business class and priced well above it.
Our guide: First Class vs. Business Class With Points: Is First Worth the Extra Miles?
- free night
Also called free night certificate, Free Night Reward, Free Night Award
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A certificate that covers one award night, often capped at a point value or a property tier.
Our guide: Hilton Free Night Certificates: How They Work and Where to Use Them
G
- Global Entry
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A US program that speeds customs and immigration on arrival and includes TSA PreCheck.
L
- lounge access
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Entry to an airport lounge, granted by a card, an elite tier, a membership or a paid day pass.
Our guide: Best Credit Cards With Airport Lounge Access in 2026
M
- Membership Rewards
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American Express's transferable points currency, earned on its consumer and business cards and movable to airline and hotel partners.
Our guide: American Express Membership Rewards Complete Guide
- miles
Also called frequent flyer miles
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The currency an airline loyalty program awards for flying or spending, redeemable for award flights and upgrades.
Our guide: How Airline Miles Work: Complete Beginner's Guide
P
- partner award
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A flight booked with one program's miles on another airline, usually within an alliance or a bilateral deal.
Our guide: The Ultimate Guide to Airline Partner Awards: Maximize Your Miles Across Global Alliances
- Priority Pass
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A lounge membership that many premium cards include, covering a network of independent airport lounges.
Our guide: Priority Pass in 2026: Complete Guide to Lounge Access via Credit Cards
R
- redemption
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Spending points or miles on something, such as an award flight, a hotel night or a statement credit.
Our guide: Maximizing Frequent Flyer Miles: The Cards, Programs, and Redemptions That Move the Most Value
S
- shopping portal
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A program's own storefront that pays extra points or miles when you click through to a retailer.
Our guide: The Complete Guide to Shopping Portals: Earn Points on Every Purchase
- statement credit
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A credit a card applies against your balance when you spend in a qualifying category or with a named merchant.
Our guide: Best Travel Credit Cards With Annual Statement Credits in 2026
- status match
Also called status challenge
-
A program granting you a tier to match status you already hold elsewhere, sometimes with a spending challenge.
Our guide: Hotel Elite Status Match and Challenge Guide 2026: A 12-Month Plan
- sweet spot
-
A redemption where a program prices a route or room far below its cash fare, so points go furthest.
Our guide: How to Use Chase Ultimate Rewards: 2026 Transfer Partner Sweet Spots
T
- ThankYou Points
-
Citi's transferable points currency, earned on Strata and Custom Cash cards and movable to its airline and hotel partners.
Our guide: How Citi ThankYou Points Work and How to Get the Most From Them
- transfer bonus
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A limited-time uplift that pays extra partner miles on points you transfer, usually quoted as a percentage.
Our guide: What Is a Transfer Bonus, and When Is It Actually Worth Taking
- transfer partner
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An airline or hotel program a bank's points can be moved into, usually at a published ratio.
Our guide: Chase Ultimate Rewards Transfer Partners: All 14, With Ratios and Transfer Times
- transfer ratio
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How many partner miles you receive for each bank point you transfer, such as 1:1 or 4:3.
Our guide: Amex Membership Rewards Transfer Partners in 2026: Sweet Spots, Ratios, and Strategy
- transferable points
Also called flexible points
-
Bank points that move into several airline and hotel programs, rather than being tied to one brand.
Our guide: Transferable Points Programs Compared: A 2026 Guide to Chase, Amex, Citi, Capital One, and Bilt
- travel insurance
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Coverage attached to a card, such as trip cancellation, trip delay, baggage delay or rental car protection.
Our guide: Credit Card Travel Insurance Guide: What's Covered in 2026
- travel portal
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An issuer's own booking site where points pay for flights, hotels and cars at a rate the issuer sets.
Our guide: Credit Card Portal vs. Transfer Partners: When Each Option Maximizes Your Points
- trifecta
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Holding three cards from one issuer so their categories cover most spending and pool into one points balance.
Our guide: Chase Trifecta Guide 2026: How to Actually Use Three Chase Cards Together
- TSA PreCheck
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A US expedited screening program that lets you keep shoes, belt and laptop in place at the checkpoint.
Our guide: TSA PreCheck in 2026: Cost, Enrollment and What It Still Buys You
U
- Ultimate Rewards
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Chase's transferable points currency, earned on Sapphire, Ink and Freedom cards and movable to its airline and hotel partners.
Our guide: Chase Ultimate Rewards Guide (2026): The Transfer Partners That Matter and the Ones That Don't
- upgrade
-
Moving to a better cabin than the one you bought, using cash, miles, a certificate or a bid.
Our guide: How to Upgrade to Business or First Class: Cash, Miles, Certificates and Bids
W
- welcome bonus
Also called sign-up bonus, intro bonus
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Points, miles or cash a card pays once for meeting a spending requirement within a set opening window.
Our guide: How Credit Card Welcome Bonuses Work