It’s back. The 1-to-1 conversion rate that is — a perennial favorite among members of Diners Club Club Rewards and British Airways Executive Club. Executive Club members hoard their Club Rewards points annually in anticipation of this promotion. Some say it is for the business-class 180 degree flat bed, others say it is for the Concorde. Whatever the motivation, here’s the lowdown: Outside of the promotion period, two Club Rewards points is equal to one Executive Club mile, but for the duration of the promotion, which runs from June 1 through Aug. 31, it is 1-to-1.

If you are not an Executive Club aficionado, there are still ways and means to take advantage of this offer. Consider off-loading some of your United Mileage Plus miles or your AAdvantage miles. Call (800) 447-6772 and (800) 882-8880 respectively. And check this out: America West FlightFund and American AAdvantage members who apply for a Diners Club card and make a qualified purchase for each of the first 12 months can earn up to 12,000 bonus points. While not much use this time around, it doesn’t hurt to begin anticipating for next year.