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I've read a lot of articles about how good flexible points systems are, but since you lose ~50% of your points when transferring to an airline rewards program, are they actually any good? They seem like a terrible use of points to me but maybe I'm missing something..

Hi all, I've been doing this for ~9 months now and have gotten almost 700k points :D. Planning on using it for two round world business trips with fiancee for our honeymoon! Then keeping the rest to do it all again in 2 years time ;)