With realistic expectations and a few proven strategies, you can head off disappointment

There was a time when mileage programs really were a ticket to ride. Loyalty paid dividends, miles were like money in the bank, and First Class to Hawaii and Paris was within reach. I don’t have to tell you that those days are long gone for most travelers. The astounding success of frequent-flyer programs and near-record-high fuel costs have made restrictions on usage ever more stringent. Most notably, the number of award seats is limited (in effect, the airlines have clipped the wings they bestowed).

To make your frequent-flyer program work for you now, you have to be a bit of a tax lawyer: Looking for loopholes, sub-clauses, and fine print that will let you use those miles. But while you’re at it, don’t overlook the obvious moves that aren’t difficult to make and will keep you from being trapped by a system that was supposed to set you free. Keep in mind these eight points.

1. Read the fine print.

You’re a tax lawyer, remember? You can’t afford to learn that your carrier’s lowest upgradeable domestic economy class fare is an exorbitant $1,500 when you call to make a booking (and when non-upgradeable economy is only $500 and First Class costs only $1,200). Or, that you could have saved a bundle of miles by booking an award ticket on a partner carrier. Or, that you could have gotten a free stopover for the same number of miles. So sit down with a cup of java and read the convoluted rules so you can have your day in court—and win.

2. Don’t expect too much from elite status membership.

It’s not a cornucopia of domestic upgrades on most carriers anymore, although that depends heavily on the routes you fly. There are a few destinations—Chicago and Dallas, for instance—where upgrade seats aren’t as hard to come by, for now at least. (But forget about getting an elite upgrade on transcon routes.) Find an agent who can help you identify the flights with the lightest loads so your chances of seat availability on day of departure are improved. Otherwise, you’re only setting yourself up for disappointment.

3. Don’t think that elite status means never having to shop for fares.

Okay, so you’re willing to roll the elite-upgrade dice, but on many routes I have to ask, why? The savvy traveler always checks the published domestic First Class fare and then weighs it against the cost to upgrade. Sometimes it pays to pay. For example, if you can purchase a San Francisco-Miami round-trip for $1,000 in First Class, why buy an upgradeable, no-advance coach fare at $658? You’ll have to keep your fingers crossed that you’ll be able to use your elite upgrades, which can add another $360 to the tab.

4. Forget about playing mileage games if you’re a coach traveler.

With the proliferation of fees, it’s simply a waste of time. Mileage programs are increasingly geared to Business and First Class—the most lucrative segments. Going forward, craft your game plan with this in mind.

5. Remember: The miles and the elite status you earn are two very different things.

One earns you free travel; the other makes paid travel more convenient. (Look for more on this in future issues of FCF.)

6. Be flexible.

There are plenty of mileage award seats available for redemption—just not to Maui in January or London in May and October. Try going where the seats are and planning your trip from there.

7. Be willing to date other carriers.

Sometimes your carrier just won’t go along with your plans. You want to fly to South America, but your carrier doesn’t have deeply discounted Business Class fares to Brazil. The competition does, though—for half the price. Or your primary carrier’s fares to Hawaii are $500 more than the competition’s, and it tells you that mileage upgrades aren’t available on your dates. At this point I say play the field. Your carrier is just not always into you.

8. Plan, plan, plan.

Don’t book time off until you’ve checked award avail-ability. Watch for new routes since award availability is usually very good on them during the first few months of operation. Carry the right credit cards to maximize your mileage-redemption options.