Auf Deutsch lesen →Miles vs. Reka:
which earns more?
Reka is a uniquely Swiss rewards mechanism. Employers subsidise Reka cheques at a discount; employees spend them at restaurants, hotels, and leisure venues at face value — pocketing the difference. Airline miles work differently, but they compete for the same CHF in your wallet. This is the honest comparison.
What Reka actually is
Reka (Schweizerische Reisekasse) is a cooperative that issues payment instruments — Reka cheques, Reka-Rail, and the Reka card — accepted at roughly 10,000 partner locations across Switzerland (Migros, restaurants, ski resorts, SBB, and others). The instrument trades at a discount through employer benefit channels: an employer might offer CHF 100 in Reka value for CHF 96 cash deduction from salary. The employee then spends CHF 100 in value, having paid CHF 96 — a straightforward 4% discount on leisure and travel spending.
Some employers offer even steeper discounts (up to 20% in some structured benefit packages). Reka value is fully guaranteed — there's no programme risk, no expiry on reasonable timeframes, and no conversion complexity.
What miles actually are
Airline miles earned via credit card spend are points in a loyalty programme whose value depends entirely on how you redeem them. Economy class redemptions yield approximately CHF 0.008–0.012 per Flying Blue mile. Business Class long-haul redemptions — where miles shine — yield CHF 0.015–0.025 per mile, and occasionally higher during Promo Awards. First Class redemptions via Miles & More on partner airlines can reach CHF 0.03–0.05 per mile.
The wide range is the point: miles are not a fixed-value instrument. Their worth is determined by the booking you make.
The direct comparison
| Metric | Reka (employer 4% subsidy) | Flying Blue miles (Amex Platinum) |
|---|---|---|
| Value per CHF 100 spent / earned | CHF 4.00 guaranteed | CHF 1.25–5.00 depending on redemption |
| Value certainty | 100% | Variable |
| Use case | Swiss leisure, SBB, restaurants | International flights |
| Expiry risk | Low (Reka is stable) | Yes (Flying Blue: 24 months inactivity) |
| Programme risk | None | Devaluation possible |
| Value in Business Class (per CHF) | N/A | CHF 2.50–5.00 |
Where miles win
For anyone who flies long-haul once a year or more, miles win the comparison — but only in Business or First Class. This is the crucial qualifier. Economy class redemptions with miles give roughly CHF 1–1.50 per CHF 100 of card spend, which is less than a 4% Reka subsidy.
In Business Class, the maths inverts sharply. A ZRH–SIN return in Business Class costs approximately CHF 7,000 cash. The same journey booked with 120,000 Flying Blue miles + CHF 900 in taxes costs approximately CHF 900 out-of-pocket — saving CHF 6,100. Those 120,000 miles required roughly CHF 240,000 of Amex spend (at 2:1 transfer). That's a redemption value of CHF 0.025 per mile or CHF 2.50 per CHF 100 of card spend — well below Reka's guaranteed CHF 4, but the absolute saving is CHF 6,100 in a single booking versus a maximum CHF 10/week in Reka discount.
The real comparison
On a CHF 1,000 grocery shop: Reka saves you CHF 40. Miles on the same spend give you 5,000 Flying Blue miles, worth roughly CHF 75–125 when redeemed for a Business Class flight — but only if you make that redemption.
If you never book a long-haul Business Class flight with miles, Reka wins every time. If you book one Business Class flight every 3 years with miles, miles win by a wide margin.
Where Reka wins
For households that don't fly internationally in premium cabins, Reka is objectively better value: guaranteed, immediate, and redeemable at SBB or Migros next week. Miles sit dormant until you use them. The complexity cost of managing programmes, tracking expiry, and timing transfers is real — for households that just want a simple discount, Reka delivers.
Reka also wins for any spending that can't be put on a credit card (transfers, TWINT-only merchants, cash payments). Employer-funded Reka doesn't require any card at all.
Can you do both?
Yes, and many Swiss households do. Employer Reka benefits don't require any card — they're salary-linked. Miles are earned on your credit card spend. The two programmes run in parallel without conflicting, provided you're paying merchant purchases with your miles card and using Reka for merchants where Reka is accepted and your card isn't. At restaurants that accept both: use the miles card. For SBB tickets under the Reka-Rail scheme: use Reka. At ski resorts that accept Reka: use it there, save the miles card for everywhere else.
The honest verdict
If you travel long-haul in Business Class: miles win decisively when redeemed correctly. The absolute value saved on a single Business Class redemption exceeds years of Reka discount accumulation.
If you don't travel internationally in premium cabins: Reka gives you a better guaranteed return on the same spending, with no programme risk and no complexity.
If you're not sure: start collecting miles. You can always spend them on domestic Europe short-haul at lower value if you never get to the long-haul redemption — you won't lose much. But you can't reclaim the miles you never collected.