Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate credit cards to write unbiased product reviews .
The information for the following product(s) has been collected independently by Business Insider: Chase Freedom Flex®, Citi Strata PremierSM Card, Citi Prestige® Card, Alaska Airlines Visa Signature® credit card, Alaska Airlines Business Credit Card, JetBlue Plus Card. The details for these products have not been reviewed or provided by the issuer. Knowing the cash value of points and miles can help you make better decisions when you redeem them.
We've developed a set of valuations for airline, hotel, and bank loyalty programs to guide you. The value (in cents) per point or mile depends on factors including program policies. One of the keys to making the most of your points and miles is knowing what they are worth.
That way, when it comes time to redeem them for travel, you'll know whether you're getting a great deal or just a so-so redemption. However, all points and miles aren't worth the same amount — it varies by program and by how you use them. To make things clearer, we've developed a set of valuations that factor in the strengths, weaknesses, and idiosyncrasies of 30 popular loyalty programs, including a variety of airline , hotel , and credit card rewards .
Each valuation assigns a cash value to each mile or point (in cents) and consists of three numbers: The lowest represents a minimum threshold, and we advise against redeeming for anything less. The middle number represents a reasonable average, and you should feel comfortable redeeming for any amount in that ballpark. The highest number represents an aspirational (but attainable) value, and any redemption yielding over that amount is a great deal.
Value is subjective and depends on where and how you redeem your rewards — for example, JetBlue points are worth more to someone in Boston, one of JetBlue's main hub airports, than they are to someone in Boise, which has limited JetBlue service. Chase Sapphire Preferred® Card Capital One Venture Rewards Credit Card Wells Fargo AutographSM Card To figure out the number of cents per point or mile you'll get from a specific redemption, divide the cash price of the award by the number of points or miles needed. For example, if an award flight that requires 25,000 miles to book would cost $500 if you paid cash, $500 / 25,000 = 2 cents per mile.
Loyalty programs also change with time, so the numbers below aren't set in stone. Instead, we hope they help you use your rewards wisely by guiding you toward redemptions that offer a good return and away from those that don't. What are credit card and bank rewards points worth? Amex Membership Rewards points value Low: 1.
1 cents per point Average: 1.8 cents per point High: 2.2 cents per point American Express Membership Rewards offers 18 airline and three hotel transfer partners .
Most transfers occur instantaneously at a 1:1 ratio (meaning 1,000 Amex points would equal 1,000 miles). One great feature of the program is that all points are equal, so any account that earns Membership Rewards points has access to transfer partners. You can weigh your options for earning points in our guide to the best American Express cards .
Booking directly through Amex Travel (as opposed to transferring points) offers a decent return for some business cardholders, but otherwise, it's a low-value option, since your points are capped at 1 cent apiece in value. None — Membership Rewards points do not expire None 18 airline and three hotel partners mostly at 1:1, including Air Canada, British Airways, Delta, Hawaiian, JetBlue, Singapore, Virgin Atlantic, Choice, Hilton, and Marriott Transfer points to the airline and hotel loyalty accounts of authorized users Medium to high: Many Amex credit card options with decent earning rates and welcome bonuses Transfers are mostly instantaneous and paying with points is easy either by phone or online N/A Best: Transfers to most partners, Pay With Points (flights only) Other: Shopping, merchandise, gift cards All points are eligible for transfer Occasional transfer bonuses The Business Platinum Card® from American Express and American Express® Business Gold Card Pay With Points rebate for flights booked through Amex Travel American Express Platinum Card® for Schwab cardholders can redeem for 1.1 cents per point in linked Schwab accounts Small excise fee for transfers to Delta, Hawaiian, and JetBlue Bank of America Premium Rewards points value Low: 1 cent per point Average: 1 cent per point High: 1 cent per point Bank of America Premium Rewards is a no-frills cash-back program that offers a flat value of 1 cent per point.
You can redeem points as a statement credit to one of the best Bank of America credit cards or a deposit to a linked bank account, with a minimum redemption threshold of 2,500 points ($25). If you're a Bank of America Preferred Rewards customer, you'll earn 25% to 75% more points, depending on how much you have on deposit, but your rewards points are still worth 1 cent apiece. You can also redeem for travel and gift cards at the same rate, but there's no incentive to do that when you can get cash instead.
None — Premium Rewards points do not expire while your account remains open and in good standing None None No sharing or pooling options of any kind Low: Outside of welcome bonuses, there are no ways to earn points in bulk quickly. Redemptions are easy through your BoA account online, though there's a 2,500-point minimum N/A Best: Statement credits or cash deposit Other: Anything else is inefficient even though it gets you the same nominal return Preferred Rewards program boosts earning rates Bilt Rewards Points value Low: 1.25 cents per point Average: 1.
65 cents per point High: 2.1 cents per point Bilt Rewards is new to the award travel space, but has earned a spot among the most valuable programs. Bilt offers 14 airline and two hotel transfer partners , with none of the throwaway options that clutter the rosters of some transferable points programs.
The Bilt Rewards travel portal provides a solid value floor with the option to redeem points for travel directly at 1.25 cents per point. The ability to earn 1 point per dollar for rental payments presents a unique opportunity for renters.
None — Bilt Rewards do not expire None 14 airline partners and two hotel partners, including Alaska, American, United, Air Canada, British Airways, Virgin Atlantic, Hawaiian, IHG, and Hyatt No sharing or pooling options of any kind Low to medium: Bilt Mastercard® has so-so earning rates and no welcome bonus offer (it does offer referral bonuses), but the ability to earn 1x on rental payments is a unique opportunity for renters . Transfers are mostly instantaneous, travel portal is instantaneous N/A Best: Transfer to airline and hotel partners; book travel through Bilt portal at 1.25 cpp.
Other: Pay rent, redeem for merchandise, shop with points, Earn interest on rewards with elite status, monthly five-transaction requirement to earn on rental payments, rental earnings capped at 100,000 points annually, earn points for linking airline and hotel accounts, Rent Day bonuses on first of month Capital One miles value Low: 1 cent per mile Average: 1.7 cents per mile High: 2.1 cents per mile Capital One miles used to be worth a flat 1 cent apiece as statement credits to cover travel purchases, but the program now also offers 15 airline and three hotel transfer partners , including several on this list.
Always check the cash price of a flight or hotel stay and compare the number of Capital One miles you'd need to "erase" the purchase versus transferring to an airline or hotel partner for an award. In many cases, you'll pay fewer miles by redeeming at a fixed rate — especially if the flight or hotel is inexpensive. Capital One offers a 1:1 transfer ratio for almost all partners, and revamped the Capital One Travel Portal with new features.
While Capital One doesn't have any US airlines as transfer partners, the other transfer options and improved ratios are enough to vault this program well above its pure cash-back competitors. Capital One also has no minimum redemption threshold and lets you pool unlimited miles with other members at no cost. None — Capital One miles do not expire None 15 airline and three hotel partners, all but two at 1:1, including Air Canada, British Airways, Avianca, Singapore, Turkish, and Wyndham Transfer miles to any member at no cost and with no cap Low to medium: Outside of welcome bonuses and card spending, there are few ways to earn miles quickly.
Capital One has historically offered some bonus opportunities. Transfers are mostly instantaneous or less than 48 hours, and redeeming for statement credits is easy N/A Best: Transfers to some partners, statement credits against eligible travel purchases Other: Anything that gets you less than 1 cent per mile Occasional transfer bonuses of up to 30% Chase Ultimate Rewards® points value Low: 1 cent per point Average: 1.8 cents per point High: 2.
2 cents per point Chase offers 11 airline and three hotel transfer partners , with most transfers occurring instantaneously at a 1:1 ratio. Not all Chase Ultimate Rewards ® credit cards earn transferable points , but Chase offers a bonus to many cardholders when redeeming for travel directly through the Chase Travel SM Portal . If you have the Chase Sapphire Reserve® , Chase Sapphire Preferred® Card , or Ink Business Preferred® Credit Card , you can transfer points to these accounts from other Chase Ultimate Rewards cards like the Chase Freedom Flex® or Ink Business Unlimited® Credit Card .
By doing so, you unlock the ability to transfer those points to airline and hotel partners, and they're worth more (1.5 cents each with the Reserve and 1.25 cents each with the Sapphire Preferred/Ink Business Preferred) when you redeem through the Chase Travel Portal.
You can also redeem Chase points toward eligible purchases via the Pay Yourself Back feature. Because redemption options differ widely based on which card you have, Chase Ultimate Rewards has a wider valuation spread than other programs. None —Chase Ultimate Rewards points do not expire None 11 airline and three hotel partners all at 1:1, including Air Canada, British Airways, JetBlue, Singapore, Southwest, United, Virgin Atlantic, IHG, Marriott, and World of Hyatt Transfer unlimited points at no cost to a single member of your household (personal accounts) or to a co-owner of your business (business accounts) Transfer points to the airline and hotel loyalty accounts of authorized users Medium to high: Many credit card options with decent earning rates and welcome bonuses Transfers are mostly instantaneous and paying with points is easy either by phone or online Best: Transfers to partners, Travel Portal (especially for Chase Sapphire Reserve® cardholders), Pay Yourself Back (for Chase Sapphire Reserve cardholders) Other: Statement credits, gift cards, experiences (separate from Travel Portal), shopping, Pay Yourself Back (for other cardholders) Future of Pay Yourself Back is uncertain (and eligible purchase categories and value has declined ), gap in value between no-annual-fee cards and premium cards, occasional transfer bonuses Citi ThankYou Rewards points value Low: 1 cent per point Average: 1.
6 cents per point High: 2 cents per point Citi ThankYou Rewards offers 14 airline and four hotel transfer partners, with most transfers occurring instantaneously at a 1:1 ratio. However, many of Citi's airline transfer partners are unlikely to be of much use to the average award traveler (most of Citi's partner airlines aren't based in the US). Not all ThankYou Rewards credit cards earn transferable points, and Citi offers a fixed rate of 1 cent per point when redeeming for travel directly through the Citi ThankYou portal.
To transfer to most airline and hotel partners, you'll need a Citi Strata PremierSM Card or Citi Prestige® Card (no longer available to new applicants) in your wallet. While the program offers some high upside redemption options, these points are less versatile and less valuable than Chase and Amex counterparts. None — ThankYou Rewards points do not expire N/A 14 airline partners and four hotel partners mostly at 1:1, including JetBlue, Singapore, Wyndham, and Virgin Atlantic Share up to 100,000 points annually with any member.
Shared points expire 90 days after transfer. Some points are ineligible. Members may only receive up to 100,000 points annually.
Medium: Fewer credit card options with (on average) lower earning rates and welcome bonuses than Chase and Amex Transfers are mostly instantaneous and paying with points is easy either by phone or online, though Citi's user interface can be hard to navigate N/A Best: Transfers to some partners Other: Travel portal, statement credits, Shop With Points In partnership with Booking.com, Citi revamped its travel portal in early 2023 Discover Miles value Low: 1 cent per mile Average: 1 cent per mile High: 1.1 cent per mile Discover miles from the Discover it® Miles card are worth 1 cent each when redeemed as a statement credit on your Discover card or a deposit to a linked bank account.
You can also redeem miles for gift cards with up to 20% added value, which may make sense if you have an impending purchase. The Discover Cashback Match TM program will match all the rewards you earn in your first year of opening the Discover it® Miles card, and you're not limited to redeeming miles for travel purchases. One great feature is that Discover has no minimum redemption threshold, so you can redeem any amount you choose from a single point to your entire balance.
None — Discover miles do not expire None None No sharing or pooling options of any kind Low: Discover does offer cash-back cards with 5% categories, but typically offers low or no welcome bonus Redemptions are easy through your Discover account online, and there's no minimum N/A Best: Statement credits, cash deposit, gift cards (only when offered at a substantial discount) Other: Anything else is inefficient even though it gets you the same nominal return Rewards match after the first year U.S. Bank Altitude and FlexPerks Rewards points value Low: 1.
5 cents per point Average: 1.5 cents per point High: 1.5 cents per point FlexPerks and Altitude Rewards are functionally the same: Both offer a return of 1.
5 cents per point when you redeem toward travel purchases. The major downside is that you have to book through the U.S.
Bank travel portal to redeem points online. Otherwise, you must use the inconsistent Real-Time Rewards program to redeem by text for purchases made directly with travel providers. Conflicting information: Some sources indicate FlexPoints expire five years from when they were earned; Altitude points do not expire as long as your account is open and in good standing.
None None Transfer up to 20,000 points annually to other members Low to medium: Only a handful of cards with above-average earning rates but modest welcome bonuses Redemptions through the U.S. Bank travel portal are easy enough, but redeeming for purchases made elsewhere with Real-Time Rewards is less straightforward.
RTRs must be at least $250 for car rentals or $500 for lodging to be eligible. N/A Best: Travel booked through U.S.
Bank portal, Real-Time Rewards Other: Statement credits, gift cards Wells Fargo Rewards points value Low: 1 cent per point Average: 1.3 cents per point High: 1.6 cents per point Wells Fargo introduced five airline and hotel transfer partners in March 2024, upgrading its current loyalty program from pure cash-back to one with greater potential upside.
The Points Transfer program goes live on April 4, 2024, and will be open to all Wells Fargo-branded cardholders who earn cash rewards or points. More travel partners will be added throughout 2024, and the Points Transfer program offers both prompt transfers and uncapped points sharing with other members, according to the issuer. Customers with any Wells Fargo-branded consumer card can combine their points with those earned from the Wells Fargo AutographSM Card and the Wells Fargo Autograph JourneySM Card.
Cardholders with cash-back cards can also convert those rewards into transferrable points. Unfortunately, Wells Fargo's inaugural roster of transfer partners is neither unique nor particularly inspiring. The four airline partners are all based outside the U.
S., and their loyalty programs have quirks that make them unwieldy to inexperienced award travelers. The lone hotel program transfer partner, Choice Privileges, offers the most consistent value thanks to a favorable 1:2 transfer ratio.
That being said, Business Insider values Choice Privileges points between 0.5 to 1 cent apiece, averaging a mere 0.7 cents on average; even at a 2x transfer ratio, you'll have to have a specific and lucrative Choice redemption in mind in order to maximize the value of your Wells Fargo transfer points.
The Wells Fargo Rewards Points Transfer program is still a clear step down from the other major transferable points programs, but it appears to be ascending. Wells Fargo Rewards points do not expire None Choice Privileges®, AerClub, Air France-KLM Flying Blue, avianca lifemiles, British Airways Executive Club, Iberia Plus Unlimited sharing and pooling options between personal cashback and points accounts, as well as with other family members Medium to high for frequent travelers who spend on flights, hotels, and dining. Generous welcome offer available on the Wells Fargo Autograph JourneySM Card Point transfers with travel partners should be instantaneous N/A Best: Transfers to flight and hotel partners Other: Cash back Points Transfer program launches April 4, 2024.
What are airline miles worth? Air Canada Aeroplan points value Low: 1.2 cents per point Average: 1.5 cents per point High: 1.
8 cents per point The Aeroplan program was overhauled a couple of years ago, replacing hefty surcharges with a more modest flat fee on partner awards, and adding stopovers on international awards for just 5,000 points. You can redeem Aeroplan points (formerly called miles) for flights on Air Canada, as well as Star Alliance and other partners that offer huge upside on long-haul premium flights. Aeroplan has a friendly points-sharing policy, and partners with most of the major transferable rewards programs, providing a variety of earning options.
18 months; resets with qualifying activity Amex (1:1, instantaneous), Chase (1:1, instantaneous), Capital One (1:1, instantaneous), Bilt Rewards (1:1, instantaneous), Barclay Arrival (1.7:1), Marriott (3:1, < 1 week)* None Pool Aeroplan points among up to eight members at no cost. All members of the pool benefit from any one of them being eligible for preferred pricing (from elite status or a co-branded credit card) Medium: Earning rates for Air Canada and partner flights are low.
Chase offers an Aeroplan card for US customers, and a variety of inbound transfer partners provide ample alternatives Aeroplan provides an excellent search engine for both Air Canada and partner award space Aeroplan uses capped dynamic pricing (the price of an award depends on the cash price, demand, and season, with limits) for Air Canada flights, so you won't see absurdly high prices like on Delta. Partner flights use a fixed award chart. Best: Flights and upgrades on Air Canada, Star Alliance, and other partners, stopovers for just 5,000 points each (with restrictions) Other: Points and Cash awards, eStore, hotels and rental cars, gift cards, and merchandise Program overhauled in 2020, no more carrier-imposed surcharges, CAD $39 per person fee on partner awards, low cost for lap infant awards *Marriott transfers receive a 5,000-mile bonus for every increment of 60,000 Marriott points transferred Alaska Airlines Mileage Plan miles value Low: 1.
3 cents per mile Average: 1.5 cents per mile High: 1.8 cents per mile The upside of Alaska Mileage Plan comes from its roster of international airline partners, but it offers an above-average return on domestic awards too.
Mileage Plan members still earn miles based on flight distance (instead of the cash price of a ticket) and can take advantage of a free stopover when redeeming. Alaska Mileage Plan offers some of the best rewards sweet spots for travelers, including flights in Cathay Pacific first class to Asia, Africa (via Hong Kong), or the Middle East (via Hong Kong) for just 70,000 miles each way — and you can build in a stopover for free. Alaska Airlines has joined the Oneworld airline alliance, so Mileage Plan should be on your radar even if you rarely fly this Seattle-based carrier.
Miles don't expire, but Mileage Plan accounts lock after 24 months of inactivity Bilt Rewards (1:1, instantaneous), Marriott (3:1, < 1 week)* None No complimentary sharing or pooling options Medium: Limited transfer options and only a few co-branded credit cards, but Mileage Plan still awards miles for most flight activity based on distance flown (with opportunities to earn bonuses) Alaska offers a versatile award search engine capable of booking complex itineraries online, though a handful of international partners still must be booked by phone Alaska is good with offering award seats on its own flights, but saver availability is often limited Best: Flights and upgrades on Alaska and a quality assortment of partner airlines, stopover itineraries, distance-based awards for short-haul flights Other: Money & Miles, hotels Nested "stopover" trick offers sweet spot with distance-based awards, Companion fare from Alaska Airlines Visa Signature® credit card and Alaska Airlines Business Credit Card *Marriott transfers receive a 5,000-mile bonus for every increment of 60,000 Marriott points transferred American Airlines AAdvantage miles value Low: 1 cent per mile Average: 1.4 cents per mile High: 1.8 cents per mile The American Airlines AAdvantage program uses dynamic award pricing for American Airlines flights — meaning the award cost varies depending on demand, seasonality, and other factors — but still publishes an award chart with ample sweet spots for flights on Oneworld and non-alliance partners.
Domestic flyers can score deals with Web Special awards (starting from 5,000 miles each way). While American is the largest airline in the world by many measures, the AAdvantage program does not partner with any of the major transferable bank points programs like Amex Membership Rewards and Chase Ultimate Rewards. However, it does partner with Bilt and Marriott Bonvoy.
24 months; resets with qualifying activity Bilt Rewards (1:1, instantaneous), Marriott (3:1, < 1 week) None No complimentary sharing or pooling options Low to medium: Earning rates for flight activity are mediocre and transfer options are limited, but American Airlines has multiple credit card partners in Citi and Barclays, plus ample partner-earning options The recently overhauled AAdvantage award search is a little more intuitive for inexperienced travelers, but it disguises saver versus standard availability Dynamic award pricing means you can almost always use miles to buy a ticket, but the cost is sometimes laughably high Best: Flights and upgrades on American Airlines, Oneworld and other partners, Web Specials Other: Admirals Club memberships, vacations, merchandise, donations No award change or redeposit fees British Airways Executive Club points value Low: 1.1 cents per point Average: 1.3 cents per point High: 1.
6 cents per point British Airways Executive Club adds high surcharges to awards on its own flights, but you can avoid those fees by using British Airways Avios points to book Oneworld and non-alliance partners — those flights don't have the same charges added to them. Thanks to distance-based award pricing, British Airways Avios points are great for short-haul flights outside North America, medium-distance flights within North America, and trips between the West Coast and Hawaii. Short-haul flights within North America on British Airways' Oneworld alliance partner American Airlines start at 7,500 British Airways Avios points each way, which can be far less than American Airlines would charge in AAdvantage miles, depending on the route.
Awards are priced per segment (point A to point B with no stops), so Avios are best suited for non-stop itineraries. 36 months; resets with qualifying activity Amex (1:1, instantaneous), Bilt Rewards (1:1, instantaneous), Chase (1:1, instantaneous), Capital One (1:1, instantaneous), Marriott (3:1, < 1 week)* Transfer Avios 1:1 among British Airways, Iberia, Aer Lingus, and Qatar Airways Pool Avios among up to six people living together. This limits your ability to purchase awards for anyone outside the pool.
High: Earning rates for flight activity are highly dependent on fare class (expensive tickets earn more than deeply discounted ones, like fare sales), but the Avios program has multiple quality transfer partners and opportunities to earn via credit card spending BA has a sturdy but cumbersome award search engine that makes booking complex itineraries difficult or impossible online. Generally good Best: Flights and upgrades on BA, Oneworld and other partners, especially short-hauls with distance-based award pricing Other: Avios & Cash awards Avios employs peak and off-peak pricing, notoriously high surcharges for awards on BA flights, Travel Together ticket for British Airways Visa Signature® Card cardholders, occasional transfer bonuses from Amex, Chase, and Capital One *Marriott transfers receive a 5,000-mile bonus for every increment of 60,000 Marriott points transferred Delta Air Lines SkyMiles value Low: 0.9 cents per mile Average: 1.
1 cents per mile High: 1.5 cents per mile Dynamic award pricing (where the number of miles required depends on the cash price and demand for a ticket) generally limits the upside of the SkyMiles program , though a few sweet spots remain when redeeming for international premium seats. That lack of upside means there's less incentive to milk every fraction of a cent from your SkyMiles.
Delta is part of the SkyTeam alliance, which means you can redeem miles for flights on airlines like Air France, KLM, and Korean Air. You get a flat rate per mile from the Pay With Miles feature (for Delta Amex cardholders ) and the option to redeem for Delta gift cards, but Delta has a massive route network and many partners, so it's not hard to find a use for SkyMiles even if the return is uninspiring. None — Delta SkyMiles do not expire Amex (1:1 with excise tax, instantaneous), Marriott (3:1, 24 hours) None No complimentary sharing or pooling options Medium to high: Earning rates for flight activity are mediocre, but Delta has ample co-branded credit cards, earning partners, and transfer options Delta's online award search engine works great for flights on Delta and all but a handful of partners (which must be booked by phone).
Search results generally include a wide variety of routing options. Dynamic award pricing means you can almost always use miles to buy a ticket, but the cost is sometimes laughably high. Best: Flights and upgrades on Delta, SkyMiles Deals and travel packages, flights and upgrades on SkyTeam and non-alliance partners Other: Delta gift cards (about 0.
9 cents per mile), Sky Club airport lounge access , hotels, rental cars, merchandise, experiences, donations, magazines Delta Pay With Miles (for Delta Amex cardholders), no more award change and redeposit fees on most flights (excludes basic economy), no fuel surcharges on awards originating in North America, long and ongoing history of devaluations Frontier Airlines Frontier Miles value Low: 0.6 cents per mile Average: 1 cent per mile High: 1.2 cents per mile For those who travel along Frontier's route map regularly, the simplicity of the Frontier Miles program may be appealing despite its lackluster value and fees for awards booked less than 180 days from departure.
Even if you don't collect Frontier (or other low-cost airline) miles, you can redeem flexible rewards like Capital One miles to erase your airfare purchase from your credit card statement. For infrequent Frontier passengers, however, the program's expiration policy is cumbersome enough to make these miles nearly useless. 12 months; resets with qualifying activity Marriott (3:1, weeks)* None Pool Frontier Miles among up to eight members.
Member in charge must have elite status or have the Frontier Airlines World Mastercard. Low: Limited transfer options and only a few co-branded credit cards, but Frontier still awards miles for flight activity based on distance flown. Frontier also has a variety of hotel and rental car earning partners.
Frontier has a rudimentary but easy to use award search Generally good Best: Frontier flights Close-in booking fee from $15 to $75, even when booking nearly six months out, no award change fee 60 or more days from departure *Marriott transfers receive a 5,000-mile bonus for every increment of 60,000 Marriott points transferred Hawaiian Airlines Hawaiian Miles value Low: 0.8 cents per mile Average: 1 cent per mile High: 1.3 cents per mile The HawaiianMiles award chart is devoid of true sweet spots, but you can get a decent return on Hawaiian Airlines flights when dynamic pricing works in your favor — that is, when paid tickets are cheap.
The greater problem is that you can generally book those flights at equal or lower rates through other frequent flyer programs, so HawaiianMiles is not a program to target for earning rewards. You can redeem American Airlines, Delta, and United miles for inter-island flights on Hawaiian Airlines, but not for flights between the US mainland and Hawaii. Unless you're flying between Hawaii and the mainland routinely, you're not likely to accrue enough miles to be of much use anyway, so look to burn these miles at any reasonable opportunity.
None — Hawaiian miles do not expire Amex (1:1 with excise tax, instantaneous), Bilt Rewards (1:1, instantaneous), Marriott (3:1, 1 week)* None Transfer miles to a Hawaiian Airlines credit or debit cardholder at no charge Medium: Limited transfer options and only a few co-branded credit cards, but Hawaiian still awards miles for flight activity based on distance flown Hawaiian's search engine is adequate if a bit sluggish, but you must be logged in to view awards. Partner awards can only be booked by phone. Generally good around non-peak travel dates Best: Flights and upgrades on Hawaiian and some airline partners, inter-island flights for 7,500 miles each way Other: Dollars and Miles awards, JetBlue awards, Avis rentals, magazines, donations *Marriott transfers receive a 5,000-mile bonus for every increment of 60,000 Marriott points transferred JetBlue TrueBlue points value Low: 1.
1 cents per point Average: 1.35 cents per point High: 1.6 cents per point JetBlue's revenue-based frequent flyer program is easy to understand and use — the number of points required depends on the cash price of a ticket — making it a great option for flyers who value simplicity.
TrueBlue also offers a first-rate points pooling feature, adding value for those who travel often with friends and family. You can transfer points from Chase Ultimate Rewards, Amex Membership Rewards, and Citi ThankYou to JetBlue, but the ratio varies depending on the rewards program. Points never expire, and you have plenty of opportunities to earn more, as JetBlue is the only domestic airline to partner with three of the major transferable points programs.
None — TrueBlue points do not expire Amex (5:4 with excise tax, instantaneous), Chase (1:1, instantaneous), Citi (1:1 or 5:4, instantaneous) None Pool TrueBlue points among up to eight members at no cost High: Earning rates from flight activity are good when you book directly, JetBlue has abundant transfer options, multiple co-branded credit cards, and numerous airline, hotel, and other partner-earning options JetBlue has a fast and versatile award search engine for its own flights, partner flights (Hawaiian Airlines) must be booked by phone Excellent Best: JetBlue flights, Hawaiian Airlines flights (possibly), JetBlue Vacations Other: Cash + Points 10% award rebate for JetBlue Plus Card cardholders Singapore Airlines KrisFlyer miles value Low: 1 cent per mile Average: 1.25 cents per mile High: 1.5 cents per mile With separate award charts for flights on Singapore Airlines, Star Alliance partners, and non-alliance partners, the KrisFlyer program may overwhelm inexperienced award travelers.
Nonetheless, it offers sweet spots like opportunities to book first-class seats on Singapore Airlines or discounted awards on United and Alaska Airlines. KrisFlyer partners with most of the major transferable points programs, so you have abundant options for earning miles. However, those miles expire after 36 months regardless of your account activity, so only transfer miles when you have immediate plans to redeem them.
36 months from earning date Amex (1:1, 24 hours), Chase (1:1, 24 hours), Citi (1:1, 24 hours), Capital One (1:1, 1-2 days), Marriott (3:1, < 1 week)* Virgin Australia (1.55:1, minimum transfer of 5,000 miles) No complimentary sharing or pooling options High: KrisFlyer credit cards aren't available to members in North America, but you can transfer points in from most major partners, earn for flight activity on Star Alliance and other airline partners, and earn through spending with a variety of other travel and shopping partners You can book Singapore and SilkAir flights online, but you should book partner awards by phone Generally good Best: Flights and upgrades on Singapore, SilkAir, Star Alliance, and other partner airlines Relatively low award change and redeposit fees, Singapore adds fuel surcharges to some partner flights, stopovers allowed on Singapore Airlines flights (one per round-trip or add to one-way for $100) *Marriott transfers receive a 5,000-mile bonus for every increment of 60,000 Marriott points transferred Southwest Rapid Rewards points value Low: 1.2 cents per point Average: 1.
4 cents per point High: 1.6 cents per point The Southwest Rapid Rewards program isn't glamorous, but it offers consistent value with minimal hassle, making it one of the most reliable and useful programs out there for North American flyers. You can book any available seat with points, and the number of points required is directly tied to the price of a paid ticket.
Plus, Southwest's flexible change and cancellation policies extend to award bookings. Chase issues five Southwest credit cards , ranging from the no-frills Southwest Rapid Rewards® Plus Credit Card to the benefit-packed Southwest® Rapid Rewards® Performance Business Credit Card . If you tend to travel with others, you can stretch your points even further by earning the coveted Southwest Companion Pass , and points earned with Southwest credit cards count toward qualification.
None — Rapid Rewards points do not expire Chase (1:1, instantaneous), Marriott (3:1, 24 hours)* None Transfers to other members cost 1 cent per point (minimum 2,000); Rapid Rewards business cards offer annual $500 fee credit for points transfers Medium to high: Earning rates from flight activity are good, Southwest has two major transfer partners, a variety of co-branded credit cards, and numerous hotel and other earning partners Southwest has a fast and versatile award search engine Excellent Best: Southwest Wanna Get Away fares Other: Hotels, experiences, gift cards, merchandise Southwest Companion Pass, redeem directly for flights on other carriers, no change or cancellation fees *Marriott transfers receive a 5,000-mile bonus for every increment of 60,000 Marriott points transferred Spirit Airlines Free Spirit points value Low: 0.6 cents per point Average: 1 cent per point High: 1.3 cents per point The Spirit Airlines Free Spirit loyalty program got a major overhaul in 2021, shifting to a revenue-based system (meaning points earning and redemption are based on the cash price of a ticket) and updating elite status levels, points expiration, and the ability to pool points with others.
Spirit Savers Club (formerly $9 Fare Club) members can access even cheaper fares and get a better value from their points, but it costs $69.95 for a 12-month membership, $99.90 for 18 months, or $129.
90 for 24 months. If you fly Spirit frequently, it's worth joining as you'll also get discounts on checked bags, seat selection, and other day-of-travel perks. Award flights start at 2,500 points for the cheapest flights, and the cost goes up (usually in 500-point increments) as the regular ticket price increases.
One major drawback of the Free Spirit program is the $50 service charge added to award tickets booked within 28 days of departure (waived for Spirit credit card and elite status holders). The value you'll get per point significantly decreases if you're paying this close-in booking fee; in fact, for cheap tickets (under $50) you'll get no value from your points at all when you factor in the fee, so it's better to pay cash. 12 months; resets with qualifying activity (no expiration if you hold the Free Spirit® Travel More Mastercard®) None None Pool miles among up to eight members at no cost.
Member in charge must have elite status or have a Free Spirit Credit Card. Low: Earnings from flight activity are based on paid ticket price and elite status, limited credit card options, no transfer partners Spirit's award search runs alongside its normal flight search, and you can toggle between points and cash prices Excellent Best: Spirit flights, Points + Cash Other: Magazines None United Airlines Mileage Plus miles value Low: 1.1 cents per mile Average: 1.
3 cents per mile High: 1.6 cents per mile The United MileagePlus program uses dynamic pricing for all awards, including flights on Star Alliance and other partners. You can still find opportunities to book at rates offered by the old award chart, but beware that United may show phantom award space (seats that show up in search but that you can't book).
If you have any of the Chase United credit cards (even the no-annual-fee United GatewaySM Card ) you can access expanded United award availability , which means you'll see more available saver award seats than customers without a card. Just be sure to log into your United account before you search. On the positive side, United miles no longer expire, and the airline eliminated change fees on most award flights.
The Excursionist Perk allows you to add a stop on itineraries between different MileagePlus regions, adding value to many international awards. None — MileagePlus miles do not expire Chase (1:1, instantaneous), Bilt Rewards (1:1, instantaneous), Marriott (3:1, < 1 week)* Marriott (1:1, for elite members only, up to 100,000 miles annually) No complimentary sharing or pooling options Medium to high: Earning rates for flight activity are mediocre, but United has ample co-branded credit cards, earning partners, and transfer options United's award search is notorious for showing phantom award space, and the calendar view often returns faulty results. The website also prompts you to log in when you search for awards, though you can continue the search without logging in.
Dynamic award pricing means you can almost always use miles to buy a ticket, but the cost is sometimes laughably high. Best: Flights and upgrades on United, Star Alliance, and other partners Other: Hotels and rental cars, merchandise Excursionist Perk, no award change fees on most flights, no award redeposit fees more than 30 days from departure, no surcharges, improved award availability for MileagePlus cardholders, close-in booking fee *Marriott transfers receive a 10,000-mile bonus for every increment of 60,000 Marriott points transferred Virgin Atlantic Flying Club points value Low: 1.1 cents per point Average: 1.
3 cents per point High: 1.6 cents per point While Virgin Atlantic is based in the UK, you should get familiar with the Flying Club program if you're based in North America. The abundance of transfer partners (with occasional bonuses) means you can earn these miles quickly, and then use them to book flights on Delta (and other partners).
A program update in 2021 eliminated many of the most favorable award rates, but you'll still get a reasonable award change and cancellation policy, and Flying Club miles no longer expire. Just beware of egregious surcharges on flights operated by Virgin Atlantic. None — Flying Club miles do not expire Amex (1:1, instantaneous), Chase (1:1, instantaneous), Citi (1:1, instantaneous), Bilt Rewards (1:1, instantaneous), Capital One (1:1, instantaneous), Marriott (3:1, < 3 days)* Hilton (2:3, up to 30 days, minimum 10,000), IHG (1:1, up to 30 days, minimum 10,000) Transfer points to other Flying Club members for a flat $15 fee (waived for Gold status and above) High: Virgin Atlantic has one co-branded credit card available to members in North America, and you can transfer points in from most of the major partners, earn for flight activity on 10 airline partners, and earn through spending with a variety of other travel and shopping partners The Flying Club award search engine has mercifully been updated to get rid of some of its more annoying tendencies, but many partner awards still require a phone call Good in economy, low to middling in premium cabins Best: Delta flights to Europe, some other partner flights Other: Virgin Atlantic and most partner flights, Points Plus Money awards, gift cards $50 flat award change / redeposit fee, 24-hour award hold (by phone), high surcharges on Virgin Atlantic flights and some partner flights What are hotel points worth? Best Western Rewards points value Low: 0.
5 cents per point Average: 0.7 cents per point High: 0.8 cents per point Much like Best Western's hotel portfolio, Best Western Rewards is light on high-end opportunities.
However, since Best Western lets you pay with points directly at 0.5 cents apiece, the program offers a stable floor of value. If you don't collect Best Western Rewards points, you can still use credit card points for free stays by booking through the bank's travel site, like the Chase Travel Portal or Amex Travel — just note that you typically won't earn hotel points on third-party bookings like this.
One place Best Western Rewards shines is its expiration policy; points don't expire regardless of activity in your account, so you can earn a useful amount over time even if you're an infrequent guest. None — Best Western points do not expire None Transfer to 12 airlines including several major carriers, transfers are mostly 5:1, transfer time unknown No points transfers, but you can gift free night awards to immediate family members Medium: Earning rates from stay activity are good and can be boosted with regular promotions, Best Western has two co-branded credit cards, no inbound transfer partners Best Western's search engine is sluggish and a bit clunky, but it works well enough Best Western uses dynamic award pricing, so you'll almost always find award availability within a certain point range, but it can spike when demand is high Best: Free nights at Best Western, Best Western gift cards, Pay With Points Other: Airline miles, gift cards, donations Choice Privileges points value Low: 0.5 cents per point Average: 0.
7 cents per point High: 1 cent per point Choice Hotels' already massive global portfolio grew even larger with its recent acquisition of Radisson Hotels Americas, but Choice Privileges gets overlooked by many award travelers due to the scarcity of high-end properties. Most travelers are familiar with Choice's budget-friendly brands like Comfort Inn and Econolodge, but you can also redeem points with The Ascend Collection (independent and boutique hotels). The program has its quirks — awards can only be booked up to 100 days from checkout, and there are no pooling or sharing options of any kind — but it's a good fit for frequent travelers who care more about convenience than luxury.
18 months; resets with qualifying activity Amex (1:1, instantaneous), Capital One (1:1), Citi (1:2 or 1:1.5, depending on card) Transfer to six airlines, including several major carriers, transfers typically range from 3:1 to 5:1, transfer times are quoted as five business days No sharing or pooling options of any kind Medium: Earning rates through stay activity are good, Choice offers co-branded credit cards, but their earning rates are poor, major transfer partners (Amex, Citi, Capital One) Award searches and bookings through the Choice website are easy Choice still bizarrely limits award bookings to 100 days from checkout. This can add value in some cases, since available award nights can't be reserved far out by travelers who are likely to cancel, but it makes planning a lot harder.
Best: Rooms and premium rooms at Choice Hotels, Points + Cash bookings Other: Airline miles, gift cards, donations Hilton Honors points value Low: 0.4 cents per point Average: 0.5 cents per point High: 0.
7 cents per point Hilton Honors uses dynamic award pricing, so it's hard to get outsized value when redeeming points. All of the Amex Hilton credit cards come with elite status — the level depends on the card — but you can also get complimentary Hilton Gold status from The Platinum Card® from American Express and The Business Platinum Card® from American Express**. On the plus side, Hilton waives resort fees on award stays, and offers a fifth night free on standard awards for anyone with elite status , adding value to longer stays.
Hilton boasts a large and diverse portfolio, so there are ample opportunities to use these points. 24 months; resets with qualifying activity Amex (1:2, instantaneous, minimum 1,000), Virgin Atlantic (2:3, up to 30 days, minimum 10,000) Transfer to 27 airlines, including Delta and United, transfers are mostly 10:1 or 10:1.5 with a minimum of 10,000 points Pool points freely with up to 10 other members, minimum of 1,000 points per transfer, maximum transfer of 500,000 points annually, maximum of 2 million points received annually High: Earning rates for stay activity are good and can be boosted with seasonal and other promotions, several co-branded Hilton cards with high earning rates, earn with a variety of partners Award searches and bookings through the Hilton website are easy Hilton uses dynamic award pricing, so you'll almost always find award availability, but pricing is all over the map Best: Hilton standard and premium awards, Points & Money awards Other: On-property credits (limited), Hilton Honors experiences, donations Resort fees waived for award stays (but not Points + Cash stays), fifth night free on standard awards for elite members, occasional Amex transfer bonuses Hyatt (World of Hyatt) points value Low: 1.
25 cents per point Average: 1.5 cents per point High: 2 cents per point Hyatt has a smaller portfolio than other major hotel chains, but offers a higher average return on award redemptions. World of Hyatt lets you book both standard rooms and suites, or redeem points for as much as 1.
54 cents apiece toward dining, spa, and other on-property credits. The World Of Hyatt Credit Card offers cardholders automatic Discoverist elite status (bonus points on paid stays, late checkout, and preferred room upgrades when available) and a free award night at Category 1 to 4 hotels each card anniversary, making it an excellent deal for a $95 annual fee. The program also waives resort fees on award stays and offers a relatively friendly expiration policy.
Unfortunately, some Hyatt properties don't always release standard room availability, and peak award pricing makes World of Hyatt points less valuable than they would be otherwise. 24 months; resets with qualifying activity (which includes combining points with another member) Chase (1:1, instantaneous), Bilt Rewards (1:1, instantaneous) Transfer to 24 airlines including most major carriers, transfers are mostly 5:2 with a handful of exceptions, minimum transfer of 5,000 points, then increments of 1,250 Transfer points to any member with no cap, one transfer per 30 days Medium: Earning rates for stay activity are good and can be boosted with seasonal promotions, only two co-branded cards, but two strong transfer options from Chase Ultimate Rewards and Bilt Rewards, earn with AA flights and Avis rentals Award searches and bookings through the Hyatt website are easy Hyatt claims to have no blackout dates with standard room availability, but at some properties, the definition of what counts as a "standard" room and availability varies Best: Hyatt room and suite awards, upgrade awards, Hyatt Points + Cash awards, on-property credits Other: Avis rentals Resort fees waived for free night awards (but not Points + Cash or Upgrade awards), peak and off-peak pricing in effect IHG One Rewards points value Low: 0.5 cents per point Average: 0.
65 cents per point High: 0.8 cents per point IHG One Rewards adopted dynamic award pricing in 2020, but that hasn't substantially devalued these points so far. You can still get a fairly consistent return for free nights and Points & Cash awards, and IHG One Rewards Premier Credit Card , IHG One Rewards Premier Business Credit Card , and IHG One Rewards Traveler Credit Card cardholders can get a fourth reward night free on award stays of three or more nights.
You can redeem IHG points at family-friendly brands like Holiday Inn Express and Staybridge Suites, or splurge on upscale stays at InterContinental and Kimpton hotels. On the downside, IHG Rewards charges a prohibitive amount to transfer points to other members, and the once-lucrative PointBreaks promotion has been discontinued. 12 months; resets with qualifying activity Chase (1:1, instantaneous), Bilt Rewards (1:1, instantaneous), Virgin Atlantic (1:1, up to 30 days) Transfer to over 40 airline programs including most major carriers, transfers are mostly 5:1 with a handful of exceptions, minimum transfer of 10,000 points, takes up to 21 days and must be processed manually Transfer unlimited points to any IHG Rewards member at a cost of $5 per 1,000 points (0.
5 cents per point) High: Earning rates for stay activity are good and can be boosted with seasonal and other promotions, three co-branded cards along with higher earning rates via Chase Ultimate Rewards cards, earn with a variety of partners, common opportunities to buy heavily discounted points Award searches and bookings through the IHG website are easy IHG now uses dynamic award pricing Best: IHG room awards, Points & Cash awards Other: Donations, merchandise, experiences Fourth award night free (with co-branded Chase card), occasional transfer bonuses from Chase Marriott Bonvoy points value Low: 0.5 cents per point Average: 0.7 cents per point High: 1 cent per point Marriott Bonvoy switched to dynamic award pricing in 2022, but the program still offers a fifth night free on award stays, mixed Cash + Points awards, and a massive global footprint with a wide range of brands to suit all needs Marriott merged with Starwood Hotels and Resorts a few years ago, and the combined Marriott Bonvoy program includes familiar favorites like Sheraton and Westin, luxury St.
Regis and Ritz-Carlton hotels, and longer-stay brands like TownePlace Suites and Residence Inn. What sets Bonvoy apart from other hotel programs is the ability to transfer points at a viable rate to over 35 airline partners . That gives these points a respectable value floor even if you don't book hotels often.
24 months; resets with qualifying activity Amex (1:1, instantaneous), Chase (1:1, 1-2 days), United (1:1, for elite members only, up to 100,000 points annually) Transfer to 39 airlines including most major carriers, transfers are mostly 3:1 (with a 5,000-mile bonus for every 60,000 points transferred), most transfers take a few days, though some can take weeks Transfer up to 100,000 points annually to any member at no cost, minimum transfer of 1,000 points, maximum of 500,000 transferred points received annually High: earning rates for stay activity are good and can be boosted with seasonal and other promotions, several co-branded Marriott cards with high earning rates, earn with a variety of partners Award searches through the Marriott website are easy Marriott's "Limited Blackout Dates" policy is supposed to provide daily standard award availability, but standard room inventory can be restricted and some properties are exempt Best: Marriott rooms and upgrades, transfers to airline partners, Cash + Points awards Other: Marriott Bonvoy Moments, Travel Packages Fifth award night free, top off free night certificates with points, RewardsPlus partnership, PointSavers Wyndham Rewards points value Low: 0.6 cents per point Average: 0.8 cents per point High: 1.
1 cents per point Wyndham is the largest hotel chain in the world (by number of properties), yet Wyndham Rewards offers just three award tiers. The result is that some properties offer great value for points bookings, but more commonly the opposite is true. Through a partnership with Vacasa, a vacation rental platform, Wyndham Rewards members can also redeem points for vacation rentals and resorts in North America, Belize, and Costa Rica.
Look for Go Fast points and cash awards to stretch your points and get more consistent value. One major negative of this program: Points expire after four years even with qualifying activity in your account, so use them or lose them. Four years from the date of earning; Wyndham Rewards also expire if your account is inactive for 18 months Capital One (1:1, instantaneous), Caesars Rewards (up to 60,000 annually, may take up to 8 weeks), Citi (1:1, instantaneous) Transfer to eight airline partners, including several major carriers, plus PAYBACK, transfers are 5:1 with a minimum transfer of 6,000 points, transfer times unknown, Caesars Rewards (up to 60,000 annually, may take up to 8 weeks) No complimentary sharing or pooling options Medium to high: Earning rates through stay activity are good, Wyndham has several co-branded credit cards and multiple 1:1 inbound transfer partners.
Award searches through the Wyndham website are easy Generally good, but Go Fast awards should be more regularly available Best: Go Free and Go Fast awards, Vacasa awards, transfers to Caesars Rewards Other: Airline miles, gift cards, merchandise, donations Points and miles valuation legend Under each airline, hotel, or credit card program, you'll find a table with the following key information: Expiration: Describes the expiration policy for the points or miles in question; assumes account remains open and in good standing Useful transfer partners (inbound): Lists viable options for transferring rewards into the program, including transfer ratios and times; may also list nonviable transfer options Useful transfer partners (outbound): Lists viable options for transferring rewards out of the program, including transfer ratios and times; may also list nonviable transfer options Sharing and pooling options: Lists options for sharing or pooling rewards within the program (e.g., with friends and family).
Ease of accumulation: Factors in earning rates for qualifying activity, transfer partners, promotions, and other earning opportunities Ease of redemption: Factors in award search engine and experience, associated fees and restrictions, or any other obstacle to redeeming Award availability: Describes the general availability of award space, along with any common obstacles to finding it Redemption options: Describes which redemptions offer the best value, along with other less favorable options Miscellaneous: Other aspects of the program likely to be relevant to the average award traveler Low redemption value: Try to avoid redeeming for less than this amount Average redemption value: Expect most redemption opportunities to be in the ballpark of this amount Excellent redemption value: You're getting a great deal if you can redeem for this amount or higher How we determined our points and miles valuations Figuring out how much your points, miles, and credit card rewards are worth isn't an exact science. In a few cases, rewards have a fixed value when redeemed in a certain way (for example, Capital One miles are worth 1 cent apiece when used to "erase" travel purchases made on your card), but otherwise, your rate of return will depend on how, where, and even when you redeem. You can find out more about the methodology we used to determine these points and miles valuations here» Because there are so many variables, we've come up with low, average, and high cash values per point or mile in each program by taking sample award searches and typical redemptions into account.
It's certainly possible to achieve a return that's much greater than even our high-end numbers, but that involves cherry-picking the most aspirational redemptions (very expensive international first-class flights, for example) that don't reflect the average reader's experience. Here are the factors we considered in determining how much each program's points and miles are worth: Rate of return Quantity and quality of redemption options Award availability and ease of redemption Expiration policies Sharing and pooling policies Ease of accumulation Miscellaneous factors (like devaluation history, sweet spots, and credit card perks) With few exceptions, there's plenty of room for disagreement over how much points or miles are worth. We recommend you use these valuations as a point of reference, and then tweak them as you see fit to suit your needs.
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