Tim Winship stumps for United’s new points-for-discounts scheme, and he’s right to do so. (He’s wrong to once again advise cashing in miles for restaurant.com certificates, but that’s a horse I’ve flogged before.)

The new option allows Mileage Plus members to convert 1000 miles into a $25 discount e-certificate, usable only on united.com. The terms of the voucher are pretty broad, but your entire itinerary needs to be on United — no codeshares. Only tickets in G (government fares) and K (relatively rare ultra-deep discount fares) are prohibited. I’ve never had the pleasure of buying either one, so I don’t think I’ll miss the ability to book those fares.

Converting 1000 miles into $25 makes your miles worth 2.5 cents each. Very solid value, and thumbs up from me.

Converting 5000 miles only gets you $75 of credit — 1.5 cents per mile — so you’re penalized for wanting more of a cash discount. An okay value, but I’ll pass.

Now you have to hope that the certificate you buy can actually be redeemed at its face value. Since it’s an e-certificate, you should be alright. But beware the paper certificate option.

The irony is that your purchased ticket generates more miles. You’re not getting rid of that mileage balance just yet, tough guy!