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Should I refinance home loan for air miles?

Lenders, realty companies lure buyers with incentives at closing

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Maybe it's just the cold time of year, but a recent column about a woman who cashed in her air miles for flight to the Canary Islands and a much needed getaway in the sun seems to have tweaked the emotional fascination for air miles and getaways. Stan and Joyce Savaard, a Canadian couple in their 60s, wrote to describe how much they enjoyed their Hawaiian getaway, the result of more than 80,000 air miles accumulated when they sold their family home of 20 years and bought another through the same real estate brokerage. Friends from Colorado wrote to say they refinanced their mortgage, thereby gaining more air miles for a long-awaited trip to Paris. We all seem to know someone who is dead-set on gleaning every last bonus air mile out of credit cards, designated hotels, telephone calling plans or stock trades. Many consumer services now come with "no strings attached" air miles, compliments of corporate marketing budgets that have been increased in an attempt to corral a greater piece ...