5/24= Refers to Chase's 5/24 Rule. Alternatively, someone could refer to themselves as 10/24, which means they opened 10 credit cards in the last 24 months.
Cents Per Points or CPP= This measures the value you get out of your points. The formula is ((Cash Price of Ticket- Taxes)/number of points) *100
Dummy Booking: Sometimes you can get better credit card offers by doing a dummy booking, which is when you pretend that you are booking a hotel or flight. For example, you could (1) go to IHG.com, (2) enter a city and dates, (3) choose a hotel, and (4) on the payment screen see if there is an increased credit card offer. Most of the time, it is the standard offer plus a statement credit of $50-100.
e.g.= for example (or in Latin, exemplī grātiā)
Hard Product= This is anything that is attached to the plane (e.g. seat, on-board shower, bar, bathroom, etc.). These are things that are generally hard to change since an airline would have to take a plane out of service for several weeks to change.
HUCA= "Hang Up, Call Again" (This means if you don't think the call center employee gave you the correct information, hang up and call again)
Layover= A stop in a city under 24 hours for international trips or under 4 hours for a domestic trip.
MPM= Maximum Permitted Mileage. This is a specific distance set by the International Air and Transport Association. It is a proprietary calculation of what is considered the maxium distance for a valid route. (e.g. it would be an invalid route under MPM to book a flight from New York to London, but fly via Hong Kong)
Positioning Flight= A flight taken for the purpose of catching another flight. (e.g., if you book a great flight deal from Los Angeles and you live in Las Vegas, the flight you book separate from that flight deal to travel from Las Vegas to Los Angeles is a "positioning flight")
Open Jaw: Open jaw is when a destination city and your departing city are different. For example, if I flew into Rome and flew out of Milan, that is an open-jaw. Open-jaws are great because it allows you to see more than one city or not have to backtrack to that city to fly back out.
Revenue-Based Award Systems= Under this award system, your points are given an average value per points. For example, JetBlue points are worth on average 1.4 cents. Therefore, a $300 flight would require about 21,000 points (cash price-taxes divided by .014)
Same-Day Change vs. Standby- A same-day change is a confirmed seat on a different flight to the same destination on the same day (e.g., you get to the airport early and want to jump on an earlier flight). You need to make the same-day change before your originally scheduled flight. Standby means that you don't have a guaranteed seat and you won't know if you have a seat until 30 minutes or so before departure.
Soft Product= This is anything that can change from flight to flight. For example, the food, wine, amenity kits, or the service by flight attendants.
Stopover= A stop in a city longer than 24 hours.
ULCC= Ultra Low Cost Carrier. ULCCs are airlines that charge for everything such as bags, drinks, food, seat assignments, printing your boarding pass, etc.