Travel Points and Miles Valuations — How Much Are They Actually Worth? [March 2025]

Key Takeaways

• Points and miles valuations vary by program, with flexible points like Chase Ultimate Rewards and American Express Membership Rewards often valued higher.
• Alaska Airlines Mileage Plan miles offers great redemption rates and many transfer partners.
• World of Hyatt points offers reasonable redemption rates with all hotels using a standard award chart.

Credit cards, airlines, and hotels don’t publish points and miles valuations, so there are no official answers on what points and miles are worth. It’s up to you to come to your own conclusions on that value.

But we’re here to help.

Many factors come into play when determining this metric. Below are questions you should ask yourself when evaluating the value of points, and we’ve taken them all into account to create our point and mile valuations:

• How valuable are these points?
• How flexible are these points, and how many transfer partners are there?
• What are your redemption options?
• How much would you buy points and miles for?
• What’s the average redemption value from 3 different bookings?
• How abundant is award availability?

Upgraded Points’ March 2025 Points and Miles Valuations

Flexible Points Programs

Hot Tip:

Utilizing transfer partners is the best way to get the value shown above. Use our dedicated transfer partner tool calculator to review transfer ratios, times, and bonuses for all major flexible point programs.

Airline Loyalty Programs

Hotel Loyalty Programs

Upgraded Points’ Highest-Valued Points

Not all miles and points are created equal, so naturally, each category has its own winner with the most valued points. Here’s what we ranked as the highest-valued points and why:

Transferable Points: American Express Membership Rewards Points

American Express Membership Rewards continues to be the king of transferable points. Amex partners with all 3 major alliances (SkyTeam, Star Alliance, and Oneworld) and many nonalliance partners, so finding award space with them is easier than with other transferable points. Amex transfer partners include Qantas, Air Canada, and Emirates.

Hot Tip:

It is no secret that transferable points are our favorite rewards, thanks to their flexibility and the powerful redemptions they offer. If you’d like more information on the major transferable point currencies, we’ve compiled complete guides on how we value Amex Membership Rewards points, Chase Ultimate Rewards points, Capital One miles, and Citi ThankYou Points.

Airline Miles: Alaska Airlines Mileage Plan Miles

Alaska Airlines has the best of both worlds: a variety of partners and solid redemption rates. Some of Alaska’s Oneworld partners include American and Japan Airlines, and the airline’s nonalliance partners include Emirates, Korean Air, and Singapore Airlines.

Hotel Points: World of Hyatt Points

World of Hyatt has the most reasonable redemption rates of all the major hotel chains. Further, we’ve found that there are virtually no blackout dates and that all hotels are on a standard award chart, so you always pay the same price for a room at any hotel. This allows you to explore fantastic Hyatt redemption opportunities, ensuring maximum value.

Movers and News

It was a busy month in the world of points and miles. Here is what made waves last month:

Iberia Overhauls Its Loyalty Program, Makes Elite Status Harder To Reach

Iberia is making huge changes to its Iberia Plus loyalty program and status earning. Starting April 1, the loyalty program will be rebranded from Iberia Plus to Club Iberia Plus.

Under the new system, flyers will earn 1 Elite Point for every euro spent with Iberia and its subsidiaries, Iberia Regional and Iberia Express, both on airfare and on extras like additional luggage and seat selection.

Elite status will be earned based on the number of segments flown or on the number of Elite Points earned, with 1 euro spent equaling 1 Elite Point, minus taxes and fees.

One of the more complicated aspects of the overhaul is that the new Club Iberia Plus will have 7 levels of membership. Besides the basic entry level, there will be 6 levels of elite status tiers, including a new one called Platino Prime.

JetBlue Returns as a Capital One Transfer Partner — But With a Decreased Ratio

Capital One introduced its transfer partner program in 2018, significantly enhancing the value of its credit card miles. Fast-forward to today and cardholders have access to over 15 airline and loyalty programs for transferring their miles.

JetBlue TrueBlue first joined Capital One’s transfer program in 2019 with a 2:1 ratio. The transfer rate later improved to 2:1.5, but the partnership ultimately ended in late 2021. Now, eligible Capital One cardholders can once again transfer their miles to JetBlue TrueBlue at a 5:3 ratio. 

New Capital One Lounge Opens in Las Vegas

The newest Capital One Lounge at Harry Reid International Airport (LAS) measures 8,200 square feet. It’s located on the upper (departures) floor and overlooks the central atrium below. You’ll find it near the D gates in Terminal 1, making it convenient for Delta passengers. Daily hours are 5 a.m. to 11 p.m.

Amenities in the new lounge include quiet rooms with rest pods, work rooms, and ample seating space. There is also the grab-and-go food and beverage station that Capital One lounges are known for, as well as a buffet, full bar, and drink stations.

Those with the Capital One Venture X Rewards Credit Card and Capital One Venture X Business Card*×Information collected independently. Not reviewed by Capital One. have complimentary access and an unlimited number of visits. They can bring 2 complimentary guests into the lounge, while additional guests cost $45 per visit.

New Chase Sapphire Lounge by The Club Opens in Philadelphia

The new Chase Sapphire Lounge, open from 5 a.m. to 10 p.m. daily, is located post-security in the connector between Terminals D and E at Philadelphia International Airport (PHL). Amenities include food stations, a dining room, a beer garden, a game room, workspaces, a Wellness Room, a kids room, and shower suites.

The new space is over 20,000 square feet, making it one of the largest Chase Sapphire Lounges in the network, and offers a variety of upscale amenities, from a beer garden and game room to curated dining from Middle Child Clubhouse and wellness-focused relaxation areas.

Here is how you can access the new lounge:

• Chase Sapphire Reserve^®: Unlimited visits for yourself and up to 2 guests ($27 for additional guests)
• J.P. Morgan Reserve Card: Unlimited visits for yourself and up to 2 guests ($27 for additional guests)
• The Ritz-Carlton™ Credit Card: Unlimited access, unlimited guests 
• Priority Pass Members: 1 free visit per year, $75 for additional visits
• Other Guests: $100 for a day pass

World of Hyatt’s Award Category Updates for 2025

The World of Hyatt program is back again with its yearly award chart updates. This year 151 hotels are changing in price, and once again, the vast majority are increasing in price, with 118 properties going up and just 33 going down — a 78% to 22% split.

• All bookings before March 25th, 2025, will follow the current award pricing. This means that if there are any properties that are increasing in price that you want to stay at during any of your upcoming travels, you should book them before the March 25 deadline.
• After March 25, all of the hotels mentioned will follow the new pricing categories.
• If you booked an award stay before March 25 and the hotel moves to a lower category, you will receive a refund for the difference. There is no need for you to cancel and rebook.
• If you booked an award before March 25 and the hotel moves to a higher category, you will not owe extra points.
• If you booked a stay at a hotel that has increased in price before the March 25 deadline but then change or modify the date of your stay after March 25, the new pricing will apply.

Despite some nice properties that will soon be more affordable when booking with points, these changes as a whole are quite negative. This now marks 3 years in a row that the World of Hyatt program has made some rather drastic price changes to its most sought-after properties.

New Opportunities To Purchase Points

If you need to boost your mileage balances but aren’t in the market for a new credit card, here are the latest opportunities to purchase points with a bonus:

• Air Canada Aeroplan: Up to an 80% bonus (ends March 13)
• Air France-KLM Flying Blue: Up to 70% discount (ends March 9)
• American Airlines AAdvantage: Up to a 35% discount
• Avianca LifeMiles: Up to a 160% Bonus (ends March 14)
• Hilton Honors: Up to a 100% bonus (ends March 14)
• Leading Hotels of the World: Up to a 100% Bonus (ends March 28)
• Lufthansa Miles & More: Bundle Bonus (ends March 31)
• Marriott Bonovy: Up to 45% bonus (ends March 30)
• Radisson Rewards: Up to a 40% discount (ends March 9)
• Southwest: Up to a 50% discount (ends April 4)
• Virgin Atlantic Flying Club: Up to 70% bonus (ends March 7)
• World of Hyatt: Up to a 25% discount (ends April 15)

Hot Tip:

Track the latest point purchase promotions and discounts on our dedicated page, which we update each time a new promotion launches. 

New Loyalty Program Transfer Bonuses

Help stretch your points and miles even further by taking advantage of these limited-time transfer bonuses:

• Amex Membership Rewards to Hilton Honors: 25% bonus (ends March 14)
• Amex Membership Rewards to Qatar Airways Privilege Club: 25% bonus (Ends March 31)
• Chase Ultimate Rewards to Aer Lingus, British Airways, and Iberia Avios: 20% bonus (ends March 31)
• Chase Ultimate Rewards to Marriott Bonvoy: 50% bonus (ends March 31)
• Citi ThankYou Rewards to Qatar Airways Privilege Club: 20% Bonus (ends March 15)

Hot Tip:

You can stay up to date with all of the latest bonuses on our monthly credit card and loyalty program transfer bonuses guide.

Final Thoughts

The value of points and miles can vary, but you should always ensure you get great value when redeeming those hard-earned points.

When it comes to flexible points, Amex Membership Rewards points are valued the highest on a cent-per-point basis. With many Amex airline and hotel partners, these points are highly flexible. Membership Rewards also offers good transfer rates with many redemption options, helping you get the most out of your points.