Update: January 15, 2022
You can use your points and miles in a variety of ways depending on the terms and conditions of each reward program:
- Flight tickets
- Hotel nights
- Travel
- Cash back
- Gift cards
- Merchandise
- Investment products
- And more!
Naturally, the best value will be obtained for what the reward program was made for, for example:
- An airline loyalty program will generally offer better value for airline tickets than for merchandise
- A hotel group loyalty program will generally offer better value for hotel nights than for gift cards
Thus, the value will vary greatly from person to person depending on its use.
On Ratesopedia, we try to establish an average value of what you can get out of each program. It also allows us to translate welcome bonuses from credit cards into cash value.
And like currency, the value of points and miles changes regularly as the rules of each reward program change: devaluations, upgrades, etc.
Hence this page listing the semi-annual value of points and miles in the U.S according to Ratesopedia:
- Financial institutions loyalty programs
- Air loyalty programs
- Hotel loyalty programs
- Retail loyalty programs
Our valuation calculation
Reward points value
We have established a valuation of the reward point in cents for each loyalty program. You will find the valuation of each program below.
First-year value
For all credit card offers, we estimate the value of the welcome offer (bonus, annual fee rebate) in the first year, plus the value of the rewards earned based on your purchases entered in the calculator for the 6 categories:
- Grocery
- Gas/Transit
- Dining
- Travel
- Bills
- Other purchases
First Year Net Value = Welcome Bonus Value + Benefits (annual credit, lounge) + Rewards earned – First-Year Annual Fee
Value of subsequent years
For the value of subsequent years, we consider the earned rewards based on your purchases indicated in the calculator and any benefits offered.
Net Value in subsequent years = Rewards earned + Benefits (annual credit, lounge) – Annual fee
VIP lounges:
For credit cards with airport lounge visits, this benefit is calculated as follows:
- 1 access = $40
- Unlimited access = $400 (the value of 10 annual visits)
Credit cards with annual fee
Information: Credit cards with an annual fee usually come with benefits such as annual credits, airport lounge visits or travel insurance. Please consider this when choosing a card or at annual renewal.
Financial Institutions
American Express - Membership Rewards
The American Express Membership Rewards program offers the most flexible points in the U.S. You can use them in a variety of ways: purchase airline tickets, transfer to multiple airline or hotel loyalty programs, account credit, purchase merchandise, gift cards, etc.
Since this program is generally intended for travellers, the best use will be for obtaining airline tickets or transferring points to loyalty programs like Aeroplan. This explains the averafe value of 1.7¢ per point.
| Use | Value |
| Fixed reward chart for flights | 2.0¢ / point |
| Transfer to Aeroplan | 2.0¢ / point |
| Transfer to British Airways Executive Club | 1.7¢ / point |
| Transfer to Asia Miles | 1.5 ¢ / point |
| Statement credit for any purchase | 1.0 ¢ / point |
| Transfer to Marriott Bonvoy | 0.9¢ / point |
| Gift cards | 0.7¢ / point |
| Merchandise | 0.7¢ / point |
| Average value | 1.7¢ / point |
Airlines
Air Canada - Aeroplan
Aeroplan is Air Canada’s loyalty program. You can use your points in many ways: purchase airline tickets, merchandise, gift cards, etc.
As this program is intended for air travellers, the best use will be for purchasing airline tickets. This explains the value of2¢ per point.
| Use | Value |
| Flights (Business Class, First Class) | > 6 ¢ / point |
| Flights (Short-haul) | 4 ¢ / point |
| Flights (Medium-haul) | 3 ¢ / point |
| Airline ticket (Long-haul) | 2 ¢ / point |
| Gift cards (Air Canada) | 1¢ / point |
| Car rentals | 0.9¢ / point |
| Air Canada Vacation Packages | 0.83 ¢ / point |
| Hotels | 0.80 ¢ / point |
| Gift cards | 0.7¢ / point |
| Merchandise | 0.7¢ / point |
| Average value | 2 ¢ / point |
Alaska Airlines - Alaska Mileage Plan
The Alaska Mileage Plan is Alaska Airlines’ frequent flyer program. You can use your points in a variety of ways: purchase airline tickets, hotels, magazine subscriptions, etc.
As this program is intended for air travellers, the best use will be for purchasing airline tickets. This explains the value of2¢ per point.
| Use | Value |
| Flights (Business Class, First Class) | > 7 ¢ / point |
| Magazine subscriptions | 5 ¢ / point |
| Flights (Short-haul) | 4 ¢ / point |
| Flights (Medium-haul) | 3 ¢ / point |
| Airline ticket (Long-haul) | 2 ¢ / point |
| Hotels | 1¢ / point |
| Average value | 2 ¢ / point |
British Airways - Executive Club
The British Airways Executive Club is the British Airways frequent flyer program. You can use your miles in a variety of ways: purchase airline tickets, purchase merchandise, gift cards, etc.
As this program is intended for air travellers, the best use will be for purchasing airline tickets. This explains the averafe value of 1.7¢ per point.
| Use | Value |
| Flights (Business Class, First Class) | > 5 ¢ / point |
| Flights (Short-haul) | 3 ¢ / point |
| Flights (Medium-haul) | 2 ¢ / point |
| Airline ticket (Long-haul) | 1¢ / point |
| Car rentals | 0.8 ¢ / point |
| Hotels | 0.7¢ / point |
| Gift cards | 0.5 ¢ / point |
| Merchandise | 0.5 ¢ / point |
| Average value | 1.7¢ / point |
Cathay Pacific - Asia Miles
Asia Miles is Cathay Pacific’s frequent flyer program. You can use your miles in a variety of ways: purchase airline tickets, purchase merchandise, gift cards, etc.
As this program is intended for air travellers, the best use will be for purchasing airline tickets. This explains the average value of 1.5¢ per point.
| Use | Value |
| Flights (Business Class, First Class) | > 5 ¢ / point |
| Flights (Short-haul) | 2 ¢ / point |
| Flights (Medium-haul) | 1.5 ¢ / point |
| Airline ticket (Long-haul) | 1¢ / point |
| Hotels | 0.8 ¢ / point |
| Merchandise | 0.5 ¢ / point |
| Average value | 1.5 ¢ / point |
WestJet - WestJet Rewards
WestJet Rewards is WestJet’s loyalty program. You can use your WestJet dollars to purchase airline tickets or vacation packages.
This program is simple: 1 WestJet Dollar = $1. The average value is therefore $1 per point.
| Use | Value |
| Flights | 1 $ / point |
| Holiday packages | 1 $ / point |
| Average value | 1 $ / point |
Hotels
Best Western - Best Western Rewards
Best Western Rewards is Best Western’s loyalty program. You can use your points in many ways: hotel reservations, merchandise purchases, transfers to airline loyalty programs, gift cards, etc.
As this program is for travelers, the best use will be to book hotel nights. This explains the average value of 0.8¢ per point.
| Use | Value |
| Hotel nights | 0.8 ¢ / point |
| Best Western gift cards | 0.59 ¢ / point |
| Gift cards | 0.55 ¢ / point |
| Transfer to Aeroplan | 0.5 ¢ / point |
| Transfer to AIR MILES | 0.28 ¢ / point |
| Average value | 0.8 ¢ / point |
Hilton - Hilton Honors
Hilton Honors is Hilton’s loyalty program. You can use your points in a variety of ways: hotel reservations, car rentals, transfers to airline loyalty programs.
As this program is for travelers, the best use will be to book hotel nights. This explains the average value of 0.6¢ per point.
| Use | Value |
| Hotel nights | 0.7¢ / point |
| Transfer to Aeroplan | 0.25 ¢ / point |
| Car rentals | 0.2 ¢ / point |
| Average value | 0.6 ¢ / point |
Marriott - Marriott Bonvoy
The Marriott Bonvoy program is Marriott hotels’ loyalty program. You can use your points in a variety of ways: hotel reservations, transfers to airline loyalty programs, vacation packages, merchandise, gift cards, airline tickets or car rentals.
As this program is for travelers, the best use will be to book hotel nights. This explains the average value of 0.9¢ per point.
| Use | Value |
| Hotel nights | 0.9¢ / point |
| Transfer to air partners | 0.8 ¢ / point |
| Flight tickets | 0.4 ¢ / point |
| Merchandise | 0.35 ¢ / point |
| Gift cards | 0.35 ¢ / point |
| Car rentals | 0.1 ¢ / point |
| Average value | 0.9¢ / point |