Is it still worthwhile to continue using HSBC mabuhay miles card?

[Innova_Boy]

SInce the onset of Cebupac promo fares last year of the P1 fare, most people and even I book cebupac flights nowadays notwithstanding the long wait for you to be able to use it( cause their promo is usually march, and i take my flight on sept.)...

Now even PAL and air phil has succumbed to this business pressure from cebu pac and has lowered their airfare also dramaticallly to cope up with the demands that cebupac is eating up...

Now am thinking that using my HSBC mabuhay miles card to redeem flights for travel is deem more expensive than buying a ticket from cebupac direct base on current market prices....

parang wala ng saysay pang sabihin "sayang ang miles". what's your take on this?....

WBR,