posted this on November 26, 2010, 10:57
Exchange is between your own programs. There is no monetary fee to do this however there is an exchange rate which is not 1:1, and varies based on the programs involved in the transaction.
Trade is between yourself and another Points.com user using our anonymous trading board for a fee. The fee is based on the number of miles and program from which you are giving points/miles.
The use of each of these depends on the programs you wish to use as not all of them participate in both options.
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