What are points and miles worth?

There is no single set value for most points and miles programs. The valuation is entirely subjective and depends on what points are worth to you and how you plan to redeem them.

Why do Upgraded Points valuations change month to month?

Loyalty programs and the points or miles associated with them are constantly changing. Programs gain or lose transfer partners, change the miles required for a given route, or sometimes ditch their award charts altogether. When these things happen, certain programs’ miles or points can increase or decrease in usefulness based on the changes made.

Are points and miles the same thing?

The terms points and miles are used interchangeably, and it just depends on which term a given program calls its loyalty currency. Some loyalty programs refer to their currency as miles and others as points, but they have the same function.

How many points do you need for a free flight?

That depends entirely on the type of points you have and where you’re hoping to fly. Each airline loyalty program has its method for pricing redemptions. Some use an award chart where the number of miles needed for a certain flight route is predetermined. Others use revenue-based redemptions where the number of points needed for a free flight depends on how expensive the cash price of the ticket is.

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Travel Points & Miles Valuations — How Much Are They Actually Worth? [November 2024]

Updated: October 31, 2024, 11:47am CDT

Edited by:

Key Takeaways
Upgraded Points’ October 2024 Points and Miles Valuations
Upgraded Points’ Highest-Valued Points
Movers and News
Final Thoughts

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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 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’ October 2024 Points and Miles Valuations

Flexible Points Programs

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Flexible Point Program	September 2024 Value (cents/point)	October 2024 Value (cents/point)	Value of 50K or 100K Points
Amex Membership Rewards Points	2.2	2.2	$1,100 / $2,200
Bank of America Preferred Rewards	1.0	1.0	$500 / $1,000
Barclaycard Arrival Miles	1.0	1.0	$500 / $1,000
Bilt Rewards	1.8	1.8	$900 / $1,800
Brex Rewards	1.0	1.0	$500 / $1,000
Capital One Miles	1.8	1.8	$900 / $1,800
Chase Ultimate Rewards Points	2.0	2.0	$1,000 / $2,000
Citi ThankYou Rewards Points	1.6	1.6	$800 / $1,600
Diners Club Rewards Points	2.0	2.0	$1,000 / $2,000
Wells Fargo Rewards Points	1.5	1.5	$750 / $1,500

Hot Tip:

Use our dedicated transfer partner tool calculator to review transfer ratios, times, and bonuses for all major flexible point programs.

Airline Loyalty Programs

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Airline Loyalty Program	September 2024 Value (cents/point)	October 2024 Value (cents/point)	Value of 50K or 100K Points
Aer Lingus AerClub Avios	1.25	1.25	$625 / $1,250
Air Canada Aeroplan Points	1.5	1.5	$750 / $1,500
Air France-KLM Flying Blue Miles	1.3	1.3	$650 / $1,300
Alaska Airlines Mileage Plan Miles	1.6	1.6	$800 / $1,600
American Airlines AAdvantage Miles	1.4	1.4	$700 / $1,400
All Nippon Airways (ANA) Mileage Club Miles	1.4	1.4	$700 / $1,400
Asiana Airlines Asiana Club Miles	1.6	1.6	$800 / $1,600
Avianca Airlines LifeMiles	1.4	1.4	$700 / $1,400
Breeze Airways BreezePoints	1.0	1.0	$500 / $1,000
British Airways Executive Club Avios	1.25	1.25	$625 / $1,250
Cathay Pacific Asia Miles	1.3	1.3	$650 / $1,300
Delta Air Lines SkyMiles	1.2	1.2	$600 / $1,200
Emirates Skywards Miles	1.1	1.1	$550 / $1,100
Etihad Airways Etihad Guest Miles	1.4	1.4	$700 / $1,400
Frontier Airlines FRONTIER Miles	1.1	1.1	$550 / $1,100
Hawaiian Airlines HawaiianMiles	0.9	0.9	$450 / $900
Iberia Plus Avios	1.25	1.25	$625 / $1,250
JetBlue TrueBlue Points	1.3	1.3	$650 / $1,300
Korean Air SKYPASS Miles	1.6	1.6	$800 / $1,600
Lufthansa Miles & More Miles	1.3	1.3	$650 / $1,300
Qatar Airways Privilege Club Avios	1.25	1.25	$625 / $1,250
Singapore Airlines KrisFlyer Miles	1.35	1.35	$675 / $1,350
Southwest Airlines Rapid Rewards Points	1.3	1.3	$650 / $1,300
Spirit Airlines Free Spirit Points	1.1	1.1	$550 / $1,100
Turkish Airlines Miles&Smiles Miles	1.3	1.3	$650 / $1,300
United Airlines MileagePlus Miles	1.2	1.2	$600 / $1,200
Virgin Atlantic Flying Club Virgin Points	1.4	1.4	$700 / $1,400

Hotel Loyalty Programs

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Hotel Loyalty Program	September 2024 Value (cents/point)	October 2024 Value (cents/point)	Value of 50K or 100K Points
ALL – Accor Live Limitless Rewards Points	2.3	2.3	$1,150 / $2,300
Best Western Rewards Points	0.6	0.6	$300 / $600
Choice Hotels Choice Privileges Points	0.6	0.6	$300 / $600
Hilton Hotels Hilton Honors Points	0.5	0.5	$250 / $500
Hyatt Hotels World of Hyatt Points	1.5	1.5	$750 / $1,500
IHG Hotels & Resorts IHG One Rewards Points	0.5	0.5	$250 / $500
Marriott Hotels Marriott Bonvoy Points	0.7	0.7	$350 / $700
Radisson Rewards Points	0.25	0.25	$125 / $250
Wyndham Hotels & Resorts Wyndham Rewards Points	0.9	0.9	$450 / $900

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 non-alliance 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 non-alliance 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:

Alaska Airlines and Hawaiian Airlines Complete Merger — Launch 1:1 Point Transfers, Reciprocal Benefits, and Plans for Hawaiian to Join Oneworld

Now that the FAA and the USDOT have approved the merger between Alaska Airlines and Hawaiian Airlines, the programs have been busy ironing out the details of the merger.

As of September 18, 2024, reciprocal benefits from Alaska Airlines Mileage Plan and Hawaiian Airlines HawaiianMiles are starting to roll out. First, miles in both programs are retaining their value and won’t be devalued, as the airlines promised the DOT.

You are now able to move your miles between Alaska Mileage Plan and HawaiianMiles seamlessly. Not only that, but you’d also be able to do so at a 1:1 ratio.

Additionally, Alaska Lounge members can access these lounges when flying on Hawaiian Airlines. Hawaiian’s Million Milers will also enjoy elevated perks when flying with Alaska Airlines.

Other benefits aren’t launching just yet, and they may take time to roll out. This includes the ability to earn miles on paid flights with the other airline, starting “in the coming months.” In 2025, the airlines plan to merge their loyalty programs into a single, unified program. We’ll also see the ability to redeem Alaska Airlines miles for Hawaiian Airlines flights or combined Hawaiian-Alaska itineraries.

Lastly, Alaska Airlines has now confirmed that the plan is for Hawaiian Airlines to become a Oneworld member in 2026.

JetBlue To Open Lounges in Boston and New York

JetBlue has announced that it will open 2 lounges on the East Coast: 1 in Boston (BOS) and 1 in New York (JFK).

The Boston lounge will span 11,000 square feet, while the lounge at New York-JFK will be 8,000 total square feet.

Amenities will include a full-service bar with alcoholic and nonalcoholic cocktails, private workspaces, and food and beverage options.

The lounge at JFK will open inside Terminal 5 (home to the airline’s operations) in late 2025. The Boston lounge will open in Terminal C “soon after,” though JetBlue didn’t list an exact timing for that location.

Here’s what you need to get into the JetBlue lounges:

A new premium JetBlue credit card (JetBlue says it will announce more details soon)
TrueBlue Mosaic 4 membership
Transatlantic Mint ticket

New ‘Protect Your Points Act’ Aims To Prevent No-Notice Devaluations

Senator Dick Durbin (D-IL) announced a new proposal, the Protect Your Points Act, which seeks to prevent airlines from enacting no-notice devaluations and other similar measures.

This new act, if passed, prevent airlines from changing the cost of award tickets overnight, including:

Require 1 year’s notice for any changes to terms of service for either airline reward programs or co-branded credit cards.
Require airlines to display the value of their rewards on every page of their website.
Require airlines to display both cash and points pricing simultaneously.
Prohibit airlines from charging fees to transfer airline miles to others.
Prohibit airlines from capping how many miles can be transferred to another account each year.
Prohibit airline miles from expiring.

There’s a lot to chew on in this piece of legislation — and we’re in favor of parts of it. After all, it would be nice to transfer and combine your miles without being charged to do so or being subject to limitations about their use once you do. It’d also be great to never worry about when your miles will expire, especially if you need to take some time off from traveling.

However, at this point, there’s so much unknown — and so many factors at play here — that it’s simply impossible to tell whether this will be a net positive or a net negative for travelers right now.

New Welcome Bonus on Chase Sapphire Preferred Card [60K Points and $300 Travel Credit]

One of our favorite travel rewards cards, the Chase Sapphire Preferred^® Card, has a new and improved welcome bonus offer. In fact, this popular credit card has never offered such a unique combination of bonus points and a travel credit before.

Earn 60,000 points after $4,000 in purchases in your first 3 months; plus, get up to $300 in statement credits on Chase Travel purchases within your first year.

The previous welcome bonus offered just 60,000 bonus points, and now, you’ll receive an additional $300 credit for any purchases made through Chase Travel for the same minimum spend requirement.

We value Chase Ultimate Rewards points at 2.0 cents per point, giving this welcome bonus an incredible value of $1,500 when you combine the points’ value with the travel credit.

Southwest Unveils Details on Assigned Seating, Premium Cabin, and Its First Partner

Southwest Airlines revealed the first details about its plans to sell assigned seats and introduce “premium” extra-legroom seats to its planes in 2025 during its “Investor Day” to improve the customer experience and improve financial performance.

Southwest plans to begin selling assigned seating in the “second half of 2025,” which is a sharp departure from its current open-seating policy.

In the future, guests will continue to board using position numbers and following gate signage. However, Southwest’s most loyal customers and those who purchase premium seating will be assigned to a higher boarding group, allowing them to board earlier.

In addition to assigning seats, Southwest will also introduce premium, extended-legroom seats that will account for roughly 33% of seats across its fleet.

Finally, beginning in 2025, Southwest will partner with Icelandair, marking Southwest’s first partnership with another carrier. The initiative aims to link Southwest customers with a broader range of global destinations while also fostering increased travel demand throughout the Southwest network.

Virgin Makes Every Seat Bookable With Points, Introduces Dynamic Pricing

Virgin Atlantic is making big changes to its Flying Club program, including new earning rates and the opportunity to book any Virgin seat with points. However, these seats (and the new Saver award seats) will be sold using a dynamic pricing model.

Virgin Atlantic announced that starting October 30, 2024, every seat onboard Virgin flights will be bookable with Virgin Points. Currently, only a fixed number of award seats are available per flight at fixed rates. The quantity is changing, and time will tell about the pricing.

In addition, Virgin Atlantic Flying Club will introduce Saver award seats, which will be sold at the lowest rates possible, some starting even cheaper than the current fixed rates — which is good news.

However, the rest of the seats will “vary in line with demand, in a similar way to standard tickets.” In other words, if the seat is expensive in cash, it will be expensive in points.

And let’s not forget that Virgin award tickets often come with eye-watering taxes and fees.

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:

Hot Tip:

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

New Airline Route Changes

Here are the airlines that announced last month that they were adding, removing, or relaunching routes:

U.S. Airlines

International Airlines

New Hotel Openings

Here’s the latest on hotel openings:

Hilton

Hyatt

IHG

Marriott

Boutique and Luxury Properties

Accor Opens Its First 5-Star Hotel in West Africa’s Benin

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, ensuring you can get the most out of your points.