In the current economy, MileageBank.com is an ideal acquisition for a credit card company, airline or any retailer. Or deploy it as a widget or mobile app, since mileage is a globally and universally accepted form of currency. Think how a newer player like BillMe Later or Steve Case’s Revolution Money or Amazon or Zappos could use this name — then grab it for yourself.

We think the best use of MileageBank.com is more relevant today then ever as a way to help credit-strapped consumers breathe new life into their wallets with assets hiding in plain sight.

We laid out the concept five years before Points.com came online. It’s simple: allow consumers to consolidate, aggregate, trade, convert and apply frequent flyer miles, shopper points and other rewards from participating programs online. It’s like a currency exchange for points. And it’s a market wide open for another competitor — with the right name.