Flight Centre boss Graham "Skroo" Turner burns his frequent flyer points to upgrade on business trips. "I have a travel agent from Corporate Traveller who has my passcode and just converts my points depending what airline is offering the best value, usually when I'm flying for work."

Former Virgin Australia founder and boss turned walking company entrepreneur, Brett Godfrey, uses them to upgrade his friends on boys' trips away to kite-surf or hike. "Luckily I don't have many friends," Godfrey quips, adding he flew "next to the loo - row 30, seat D for 10 years" so has no qualms about paying to treat himself to the pointy end these days.