What de millas actually are
De millas is a rewards program run by certain Latin American banks where you earn points (called "millas" or miles) on everyday transactions — purchases, bill payments, transfers — instead of cash back. The points accumulate in your account and you redeem them for flights, hotel stays, merchandise, or sometimes cash.
The name comes from the Spanish word for miles, because the program originally mimicked airline frequent-flyer systems. You're not earning airline miles directly; you're earning a bank's own points that behave similarly. Different banks structure their de millas programs differently, so the earning rate, redemption options, and whether there's an annual fee all depend on which bank issued your account.
The basic mechanic is straightforward: you spend money, points post to your account, you decide when and what to redeem them for. You don't have to do anything special to earn — the points accumulate automatically as long as your account is active and in good standing.
Key Takeaways
- De millas programs award points on transactions automatically; you earn them just by using your debit or credit card for purchases and payments.
- Redemption options typically include airline tickets, hotel bookings, merchandise from a catalog, or cash deposits back to your account.
- Earning rates vary by transaction type — some banks award more points for certain categories like groceries or utilities, and fewer for cash withdrawals.
- Points usually don't expire as long as your account remains open and active, but some banks may clear them if your account sits dormant for a set period.
- Your bank's terms determine whether there's an annual fee to maintain the rewards account and what the minimum redemption amount is.
How points accumulate on different types of transactions
Most de millas programs award points based on how much you spend, not what you spend on. A common structure is one point per dollar (or local currency equivalent) spent, though some banks offer bonus rates on specific categories. For example, you might earn two points per dollar at grocery stores or pharmacies, and one point per dollar everywhere else.
Certain transactions typically earn zero points or are excluded entirely. Cash withdrawals at ATMs usually don't earn points. Transfers between your own accounts, balance transfers, and fee payments often don't count either. Some banks exclude international transactions or charge a higher fee on them while awarding fewer points.
The transaction has to post to your account for points to credit. If you make a purchase and then cancel or return it, the points are reversed. If you dispute a charge, points may be held until the dispute is resolved.
Where you can use your millas when you redeem
Most de millas programs partner with airlines, hotel chains, and travel booking platforms so you can redeem points for flights and accommodations. The redemption value varies — sometimes you need fewer points for a domestic flight than an international one, and off-peak travel usually costs fewer points than peak dates.
Beyond travel, many programs offer a merchandise catalog where you can browse products — electronics, home goods, gift cards — and redeem points for them. The catalog is usually available through your bank's website or mobile app, and you can see the point cost of each item before you commit.
Some banks allow you to redeem points as a direct deposit or statement credit back to your account, converting them to cash at a fixed rate. This option is useful if you don't travel frequently or don't want to use the other redemption channels. The cash conversion rate is typically lower than the value you'd get from travel redemptions, so it's usually the least valuable use of your points.
When points expire and what happens to dormant accounts
Most de millas programs do not expire points as long as your account is open and you use it regularly. "Regularly" usually means at least one transaction per year, though some banks define it as one transaction every 18 months. Check your bank's specific terms, because the threshold varies.
If your account becomes dormant — meaning no transactions for the period your bank specifies — the bank may freeze or clear your points balance. Some banks will notify you before this happens; others will not. The safest approach is to use your account at least once a year, even if it's just a small purchase or a bill payment.
If you close your account, you typically lose any remaining points balance. Some banks allow a grace period to redeem before closure takes effect, but this is not standard. If you're thinking about closing an account with a large points balance, contact your bank first to understand what happens to those points.
Annual fees and minimum redemption amounts
Whether your de millas account has an annual fee depends on the bank and the account tier. Some banks offer de millas on basic checking accounts at no extra cost. Others charge an annual maintenance fee — often waived if you maintain a minimum balance or meet a spending threshold each year.
Most programs set a minimum redemption amount, typically the equivalent of 5,000 to 10,000 points, though this varies. You cannot redeem a smaller amount; you have to wait until you've accumulated enough. Some banks allow partial redemptions once you hit the minimum, while others require you to redeem in fixed increments.
Premium account tiers sometimes offer bonus point multipliers or waived annual fees in exchange for higher minimum balances. If you carry a large balance in the bank anyway, a premium tier might be worth the fee. If you don't, the basic tier usually makes more sense.
How de millas compares to cash back rewards
Cash back rewards and de millas both give you something back for spending, but they work differently. Cash back is usually a percentage of what you spent — 1% to 5% depending on the category — and it posts as a credit or deposit. De millas is a points-based system where the value of each point depends on what you redeem it for.
De millas can be worth more than cash back if you redeem for travel, because airlines and hotels often price their rewards inventory higher than the cash equivalent. A flight that costs $500 might be available for 50,000 points, which works out to 1 cent per point — but if you earned those points at a 1-point-per-dollar rate, you got 1% value, same as cash back. However, premium cabin flights and peak-season hotels can offer much better value per point, sometimes 2 cents or more.
The tradeoff is flexibility. Cash back is immediately useful as money. De millas requires you to find a redemption option that works for you, and if you don't travel or don't want the available merchandise, your points may sit unused. If you rarely travel, cash back is usually the better choice. If you travel regularly and have flexibility on dates and destinations, de millas can deliver more value.
How to check your points balance and redeem
Your current points balance appears in your account dashboard on your bank's website or mobile app. Most banks show it prominently on the home screen or in a dedicated rewards section. The balance updates within one to three business days of a transaction posting.
To redeem, log into your account and navigate to the rewards or millas section. You'll see available redemption options — flights, hotels, merchandise, or cash. Select what you want, confirm the points cost, and complete the transaction. For travel redemptions, you may be directed to a partner website to book the actual flight or hotel; for merchandise, the item ships to your address; for cash, it deposits to your account on the next business day or within a few days.
Keep your redemption confirmation number. If something goes wrong — a booking doesn't complete, points are deducted but the redemption didn't process — you'll need it to contact your bank's rewards support team.
Frequently Asked Questions
Do I lose my points if I don't use my account for a while?
Most banks don't expire points as long as your account is open and you make at least one transaction per year. If your account becomes dormant beyond your bank's threshold (usually 12 to 18 months), points may be frozen or cleared. Check your account agreement or contact your bank to confirm the exact dormancy period.
Can I transfer my millas to someone else?
Most de millas programs do not allow point transfers between accounts or people. Points are tied to the account holder and cannot be gifted or moved. Some banks may allow a family member to redeem points from a joint account, but this depends on the account structure and the bank's rules.
What happens to my points if I close my account?
When you close an account, you typically lose any remaining points balance. Some banks give you a grace period — usually 30 to 90 days — to redeem before closure takes effect. Contact your bank before closing to understand the timeline and whether you can redeem your balance first.
Are there taxes on the points I earn?
In most countries, points earned through normal spending are not taxed as income. However, tax treatment varies by location and by how the bank reports the rewards. If you have questions about your specific tax situation, consult a tax professional in your country, as this is outside the scope of banking information.
Can I earn de millas points on credit card payments or loan payments?
This depends on your bank's rules. Some banks award points on all transactions, including bill payments and loan payments. Others exclude certain payment types or award fewer points for them. Check your account terms or ask your bank which transaction types earn points at the full rate.