Points & Miles Reference
What your points are actually worth.
Our editorial valuations for every major program, updated monthly. Last refresh: 2026-08-03.
How we value points: our numbers reflect the fair-market redemption value most travelers can realistically capture — not the peak ceiling. We anchor transferable currencies to the strongest available transfer partner, not the credit-card portal floor. We use conservative valuations so our "worth $X" claims hold up against your actual redemption experience.
Transferable Currencies
| Program | Value (¢/pt) | Anchor / notes |
|---|---|---|
| Chase Ultimate Rewards | 2.00¢ | Anchored by Hyatt transfers at 1.7-2.1¢. Portal redemption at 1.25¢ (Preferred) or 1.5¢ (Reserve) is the floor. |
| American Express Membership Rewards | 2.00¢ | ANA, Air Canada Aeroplan, and Virgin Atlantic sweet spots. Amex Travel portal at 1¢ is the floor. |
| Capital One Miles | 1.85¢ | Turkish Miles&Smiles for U.S. domestic, Aeroplan for premium cabins. 1¢ statement credit is the floor. |
| Citi ThankYou Points | 1.80¢ | Turkish for AA domestic at 10k, Wyndham at 1:3 for Vacasa. Weakest partner list of the majors. |
| Bilt Rewards | 2.05¢ | The only rent-earning currency. Transfer to American Airlines (rare) and Alaska. Hyatt at 1:1 is the anchor. |
Airline Miles
| Program | Value (¢/pt) | Anchor / notes |
|---|---|---|
| United MileagePlus | 1.35¢ | Dynamic pricing hurts non-elite value. Star Alliance partner awards still find pockets of 1.5¢+. |
| American AAdvantage | 1.50¢ | Cathay first, JAL business, Qatar Qsuite sweet spots. Domestic saver awards are getting rarer. |
| Delta SkyMiles | 1.20¢ | Fully dynamic, no award chart. Value floor kept up by transferable-currency floor (1¢ at Amex). |
| Southwest Rapid Rewards | 1.30¢ | Revenue-based, so value is predictable — but the Companion Pass makes them worth ~2x. |
| Alaska Mileage Plan | 1.80¢ | oneworld partners at published prices are one of the best remaining charts. Cathay business at 50k, JAL first at 70k. |
| Air Canada Aeroplan | 1.60¢ | Star Alliance partner awards at reasonable rates, 5,000-mile stopovers, and no fuel surcharges on most partners. |
| Air France / KLM Flying Blue | 1.40¢ | Monthly Promo Rewards discount Europe flights 25-50%. Watch surcharges on Air France metal. |
| British Airways Avios (Avios family) | 1.50¢ | Short-haul American at 7,500. Iberia business to Europe is the sweet spot; BA surcharges are punishing. |
| ANA Mileage Club | 1.90¢ | Round-trip only, but the round-the-world chart is unmatched — 125k in business, 165k in first. |
| Cathay Asia Miles | 1.60¢ | Best-in-class business class chart across Asia. Fuel surcharges on some partners. |
| Emirates Skywards | 1.30¢ | Aspirational for first class but heavy fuel surcharges. Economy is rarely a good use. |
| Etihad Guest | 1.30¢ | American AAdvantage award booking is the sweet spot. Otherwise middling value. |
| Turkish Miles&Smiles | 1.70¢ | AA domestic at 10k, Hawaii at 15k, business class to Europe at 45k. The best-hidden sweet spot in miles. |
| Singapore KrisFlyer | 1.40¢ | Singapore Suites redemptions are aspirational. Star Alliance partner awards are decent. |
| Virgin Atlantic Flying Club | 1.50¢ | Delta One from JFK to LHR at 60k is the iconic redemption. ANA First at 120k round-trip is untouchable. |
| JetBlue TrueBlue | 1.30¢ | Revenue-based, so value is predictable. Mint transatlantic at ~55k one-way is the best use. |
| Hawaiian Airlines HawaiianMiles | 1.20¢ | Mostly usable within the Hawaiian Islands ecosystem. Devalued significantly post-Alaska acquisition. |
Hotel Points
| Program | Value (¢/pt) | Anchor / notes |
|---|---|---|
| World of Hyatt | 1.70¢ | Category 1-4 properties consistently deliver 1.5-2.5¢. Small footprint but every point works hard. |
| Marriott Bonvoy | 0.70¢ | Category 4-5 properties at off-peak pricing get 0.8-1¢. Peak dynamic pricing drops it below 0.5¢ often. |
| Hilton Honors | 0.50¢ | High point values, low per-point worth. Off-peak Category 1-4 stays are where the value lives. |
| IHG One Rewards | 0.50¢ | PointBreaks-style promos push it higher intermittently. Fourth-night-free perk stacks well with card. |
| Choice Privileges | 0.60¢ | Best when transferred from Amex MR (1:1) or Cap One (1:1) for European partner properties. |
| Wyndham Rewards | 1.00¢ | Fixed 15k/night Vacasa vacation rentals are the standout. Otherwise mediocre. |
| Best Western Rewards | 0.50¢ | Small footprint, moderate value at Category 1-2 properties in Europe. |
| Radisson Rewards Americas | 0.40¢ | Post-Choice acquisition, transfers to Choice at 1:1.5. Otherwise thin value. |
Cashback & Non-Transferable
| Program | Value (¢/pt) | Anchor / notes |
|---|---|---|
| Wells Fargo Rewards | 1.00¢ | Statement credit / travel booking at 1¢ each. No transfer partners. |
| US Bank Rewards Center | 1.00¢ | Redeems at 1¢ each for travel or cashback. Altitude Reserve historically hit 1.5¢ but discontinued. |
| Discover Cashback | 1.00¢ | Straight 1¢ cashback. First-year match effectively doubles the value in year one. |
| Generic 1-2% Cashback | 1.00¢ | Statement credit at exactly 1¢. The universal baseline every points valuation should be measured against. |
Use these numbers in our tools: Welcome bonus $ calculator · Annual fee break-even · Card match quiz.