The Payback loyalty program, widely used in Germany and select European markets, is offering a ten percent bonus on conversions of Payback points to Lufthansa Miles and More miles through July 31, 2026. For frequent flyers who accumulate Payback points through everyday spending at partner retailers including DM, Rewe, Aral, and through the Payback American Express card, this conversion window presents an opportunity to boost a Miles and More balance at an effective transfer ratio above the standard rate. However, converting Payback points to Miles and More involves several beginner mistakes that can reduce the value of the transferred currency. Here is how the promotion works and the errors to avoid.
Payback points are earned at a rate of one point per two euros spent at participating retailers, with bonus point promotions increasing the effective earn rate. The standard conversion ratio from Payback points to Miles and More miles is two hundred Payback points to one Miles and More mile, meaning a thousand Payback points yield five hundred miles. During the ten percent bonus promotion through July 31, 2026, the same thousand Payback points yield five hundred and fifty miles.
For context, a Payback member who has accumulated twenty thousand points, representing forty thousand euros in base spending at participating partners, can convert to ten thousand Miles and More miles during standard periods or eleven thousand miles during the bonus promotion. At Miles and More award pricing, ten thousand miles covers a one-way domestic economy award within Europe, while fifteen thousand to twenty thousand miles covers a short-haul business class award or a portion of a long-haul economy redemption.
The most common beginner mistake is converting Payback points to Miles and More speculatively, without a specific award in mind. Miles and More miles expire after thirty-six months from the end of the calendar year in which they were earned, unless the member holds elite status or a co-branded credit card that extends mileage validity. Payback points, by contrast, have their own expiration rules and are more flexible as a cash-equivalent currency redeemable for merchandise, vouchers, or cash transfers to a bank account. Converting Payback points to miles eliminates that flexibility and starts the expiration clock on currency that may have remained valid longer in the Payback ecosystem.
Before converting, confirm that you have a specific Miles and More award you intend to book, verify that award availability exists for your target route and dates, and calculate whether the miles you will receive after conversion plus existing miles are sufficient for the booking. Converting twenty thousand Payback points only to find that you are a few thousand miles short of the award you need leaves the miles stranded.
Miles and More imposes substantial fuel surcharges on many award tickets, particularly on Lufthansa, Swiss, and Austrian Airlines operated flights. A business class award from Europe to North America may price at fifty-six thousand Miles and More miles one-way but carry fuel surcharges and taxes approaching seven hundred euros, significantly reducing the net value of the miles redeemed. Before converting Payback points for a Miles and More redemption, price out the full taxes and fees on the award and compare the total cost, including surcharges, to the cash fare for the same itinerary. If the surcharges make the award a poor value relative to cash, the Payback points would be better spent on a cash fare or a different redemption option.
Payback points are not just a transfer currency but have standalone cash value. One hundred Payback points equal one euro in value when redeemed for cash transfers or shopping vouchers. The conversion to Miles and More effectively values each mile at two cents based on the standard conversion or roughly one point eight two cents during the bonus promotion, but this only holds if the Miles and More redemption delivers at least that much value after factoring in surcharges. If a Miles and More redemption yields less than one and a half cents per mile in net value, the Payback points would have delivered more value as cash.
This article reflects the Payback to Miles and More conversion promotion terms, standard conversion ratio, Miles and More award pricing, fuel surcharge policies, and mileage expiration rules as of July 2026. Conversion promotion dates and terms are subject to change. Confirm current details with Payback and Miles and More.
Q: How long do Miles and More miles last? A: Miles and More miles expire after thirty-six months from the end of the calendar year in which they were earned unless extended by elite status or a co-branded credit card.
Q: Can I reverse a Payback to Miles and More conversion? A: No, conversions are irreversible. Once Payback points are transferred to Miles and More, they cannot be returned to Payback.
Q: Is the ten percent bonus worth it? A: Only if you have a specific Miles and More award in mind that delivers value exceeding the cash value of the Payback points you are converting. The bonus effectively lowers the per-mile cost from two cents to approximately one point eight two cents.