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 annually in anticipation of this promotion. Outside of the promotion period, two Club Rewards points is equal to one Executive Club mile. The promotion runs from June 1 through Aug. 31.

If you do not have a Diners card, but are tempted by the offer, go ahead and sign up for the card and get the sign-up bonus. Start referring friends, and the points will begin pouring in — 6,000 for each member. The cap on points for referring was recently lifted.

If you are not an Executive Club aficionado, but the thought of redeeming 80,000 miles for a business-class seat to anywhere in Europe including the Middle East appeals to you, you might want to consider dumping some of your American AAdvantage, Delta SkyMiles or United Mileage Plus miles into Diners Club Club Rewards. Remember also that British Airways is home of the 180 degree flat bed, and the word from our readers is that it is far easier to redeem miles with British Airways Executive Club than its competition.