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.

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 and Miles Valuations — How Much Are They Actually Worth? [April 2025]

Updated: April 2, 2025, 4:10am CDT

Edited by:

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Table of Contents

Key Takeaways
Upgraded Points’ April 2025 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 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’ April 2025 Points and Miles Valuations

Flexible Points Programs

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Flexible Point Program	March 2025 Value (cents/point)	April 2025 Value (cents/point)	Value of 50K Points	Value of 100K Points
American Express Membership Rewards Points	2.2	2.2	$1,100	$2,200
Bank of America Preferred Rewards Points	1.0	1.0	$500	$1,000
Barclaycard Arrival Miles	1.0	1.0	$500	$1,000
Bilt Rewards Points	1.8	1.8	$900	$1,800
Brex Rewards Points	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:

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

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Airline Loyalty Program	March 2025 Value (cents/point)	April 2025 Value (cents/point)	Value of 50K Points	Value of 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 Cathay 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	March 2025 Value (cents/point)	April 2025 Value (cents/point)	Value of 50K Points	Value of 100K Points
ALL – Accor Live Limitless Reward Points	2.2	2.2	$1,100	$2,200
Best Western Rewards Points	0.6	0.6	$300	$600
Choice Privileges Points	0.6	0.6	$300	$600
Hilton Honors Points	0.5	0.5	$250	$500
IHG One Rewards Points	0.5	0.5	$250	$500
Marriott Bonvoy Points	0.7	0.7	$350	$700
Radisson Rewards Points	0.25	0.25	$125	$250
World of Hyatt Points	1.5	1.5	$750	$1,500
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 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:

Air Canada Aeroplan Introduces Dynamic Pricing

Air Canada’s Aeroplan loyalty program has introduced dynamic pricing — at least partially.

Some Aeroplan partner airlines, including United, are now part of a new dynamic chart that includes Air Canada, which uses variable pricing. Other partner airlines will still be in the current chart with fixed pricing.

Air Canada specifies that the flight reward chart for Air Canada flights will expand to include United, Emirates, flydubai, Etihad, and Canadian regional airline partners Canadian North, Calm Air, and PAL (Provincial Airlines). This is the dynamic chart, which will offer “starting” and “median” (but no maximum) award rates.

Air France Unveils New La Première First Class, Confirms New York as First Destination

When it comes to first class, it doesn’t get much more exclusive and chic than Air France’s La Première. Air France’s new La Première cabins will be installed in 19 of the airline’s workhorse Boeing 777-300 aircraft.

Like the current version, the cabins will still feature 4 seats. However, with a total area of around 38 square feet, Air France has still managed to increase the space available in the new suites by around 25%.

Passengers flying the new La Première will enjoy 2 separate seating areas, a fifth window, a backward-facing armchair and a forward-facing chaise lounge instead of a single forward-facing armchair, and a wireless touchscreen tablet to control various suite functions, from lighting and seat recline to the window shades and the IFE system.

Big Changes to Chase’s United Airlines Credit Cards: New Perks, Higher Annual Fees

The United Airlines co-branded credit card lineup is going to look different going forward, both for United personal cards and United business cards.

Chase seems to be taking a page out of the American Express playbook by adding numerous spending credits to its United Airlines credit cards. Some of them are related to travel, but others aren’t.

The cards are gaining interesting perks like seat upgrades, increased spending capacity toward elite status, award discounts, and more. However, those additional perks come with increased annual fees. To soften the blow, these cards have some fantastic welcome bonuses available for a limited time.

Southwest Airlines Ends Free Bags, Introduces Basic Fare, and Reshapes Loyalty Program

Southwest Airlines is making some of the biggest changes in its history, shaking up key policies that have long set it apart from the competition.

The Dallas-based airline announced that it will start charging most passengers for checked bags, introduce a new “basic” fare, and adjust its Rapid Rewards loyalty program with more dynamic pricing. Additionally, Southwest is moving away from its open seating policy and will soon move to assigned seating and offer extra legroom seating.

Most of these changes take effect for flights booked on or after May 28, 2025 — meaning travelers still have a short window to lock in flights under the current, more generous policies.

Spirit Airlines Exits Bankruptcy After 4 Months

Spirit Airlines has exited bankruptcy after filing for Chapter 11 protection almost 4 months ago, completing a process that turned approximately $795 million of debt into equity. As part of the restructuring, Spirit said, it has also received a $350 million equity investment from existing investors.

Spirit is adopting a new business model in an attempt to make profits again, which it hasn’t done since 2020, by going more upscale.

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 a 30% discount (ends May 14)
American Airlines AAdvantage: Up to a 35% discount
British Airways: Up to a 40% bonus (ends April 4)
Choice Privileges: Up to a 60% bonus (ends April 8)
Copa Airlines: Up to a 60% bonus (ends April 18)
Hilton Honors: Up to a 90% bonus
JetBlue TrueBlue: Up to 120% bonus (ends April 20)
Southwest: Up to a 50% discount (ends April 4)
World of Hyatt: Up to a 25% discount (ends April 14)
Wyndham Rewards: Up to an 80% bonus (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 AeroMexico Rewards: 20% bonus (ends April 30)
Amex Membership Rewards to Etihad Guest: 20% bonus (Ends April 30)
Chase Ultimate Rewards to IHG One Rewards: 80% bonus (ends April 30)
Citi ThankYou Rewards to Avianca LifeMiles: 25% Bonus (ends April 12)

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.