Maximizing Payback for Miles & More
Payback Points Conversion to Miles & More
The partnership between Payback, Germany’s largest coalition loyalty program, and Miles & More is a cornerstone for accumulating Lufthansa Group miles efficiently.
Standard Conversion Ratio: The standard transfer ratio is 1 Payback point = 1 Miles & More mile. A minimum of 200 points is required for a transfer.
The Power of Bonus Events: While the standard ratio is 1:1, the real value lies in periodic transfer bonus promotions. Typically, these events offer a 25% bonus, transforming the exchange rate to 1 Payback point = 1.25 Miles & More miles. It is highly recommended to wait for these promotions to maximize the value of your points.
For example, a transfer of 10,000 Payback points would yield 10,000 Miles & More miles under standard conditions, but 12,500 miles during a 25% bonus event.
Payback Credit Cards
Payback offers co-branded credit cards that allow you to earn points on all your purchases.
Payback American Express Card:
- Earning Rate: 1 Payback point per €3 spent.
- Annual Fee: Free
Payback Visa Card:
- Earning Rate: 1 Payback point per €5 spent.
- Annual Fee: €29/year (free in the first year).
A significant 25% transfer bonus is available from May 2 to May 31, 2025. This bonus applies when a minimum of 4,000 Payback points are transferred to Miles & More in a single transaction. This offer is open to Payback members residing in Germany or Austria. During this promotion, 1 Payback point effectively becomes 1.25 Miles & More miles. There is a cap of 75,000 bonus miles that can be earned per Miles & More member through this specific promotion.
While official terms state bonus miles may take 4-6 weeks after the promotion ends to credit, experience suggests they often appear within a few days. However, larger transfers (e.g., over 30,000 points) might undergo manual review, potentially causing delays.
Strategic Importance of Payback
These transfer bonuses are a key method for “manufacturing” Miles & More miles at a favorable effective cost. Since Payback points can be earned on a wide array of everyday purchases (e.g., at dm, Rewe, Aral, eBay), and their cash-out value is typically 1 cent per point, a 25% transfer bonus means acquiring Miles & More miles for an effective cost of 0.8 cents each. This is often more economical than purchasing miles directly or through most other indirect avenues.
The Math Makes Sense! Consistently collecting Payback points and transferring them during bonus promotions is one of the most efficient ways to boost your Miles & More balance for minimal extra effort.