SkyMiles still have value. You may be feeling the opposite way if you just read about the way Delta has decided to devalue its reward miles. The move came without warning last week. Saver rates on Delta One flights between the United States and Europe have been universally raised. How bad is it for travelers? These flights were going for something like 70,000 SkyMiles at this point a year ago. You will now have to pay 105,000 SkyMiles for a one-way ticket. One interesting detail is that Delta has not adjusted the price of flights that are operated by partner airlines. That means that flights with Air France can still be grabbed for a minimum of 75,000 as of right now. There's no word yet on whether or not that is going to change.
There is still a lot of mystery surrounding Delta's decision to devalue its SkyMiles. There's even more mystery surrounding what will happen next. We don't know if the move is permanent or if mileage rates will potentially be rolled back again.
Should you give up on Delta SkyMiles? The truth is that you probably shouldn't. The fact that Delta offers three different personal credit cards and three business credit cards means that there are still many opportunities to earn points and miles through sign-up bonuses and your day-to-day expenditure. In addition, Delta's co-branded credit cards often run promotions that give away tons of points if you can meet some spending requirements.
Don't forget that Delta actually allows you to earn Medallion Qualifying Miles (MQMs) for your full flight cost even if you pay for part or all of your ticket using miles. One other reason why you may be able to weather the current devaluation situation is that Delta pretty frequently runs flash sales that apply to award flights. Having some SkyMiles to burn means that you can jump on these deals when you see them.