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? [December 2024]

Updated: December 15, 2024, 3:12am CST

Edited by:

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Key Takeaways
Upgraded Points’ December 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’ December 2024 Points and Miles Valuations

Flexible Points Programs

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Flexible Point Program	November 2024 Value (cents/point)	December 2024 Value (cents/point)	Value of 50K or 100K Points
American Express 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	November 2024 Value (cents/point)	December 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 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	November 2024 Value (cents/point)	December 2024 Value (cents/point)	Value of 50K or 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 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:

Airlines Will Use Apple AirTags To Find Your Lost Luggage

Using Apple AirTags to track luggage is about to become easier. Apple has introduced a feature that allows an AirTag to share its location with more than 15 airlines.

A new feature called Share Item Location in Apple’s iOS operating system can help recover a misplaced item by sharing the location of an AirTag or another Find My network accessory with third parties such as airlines. Apple says this can be done “easily and securely.”

To protect privacy and safety, Apple says the shared location of an AirTag will be disabled as soon as a user is reunited with their item. The feature can be disabled by the owner at any time and will automatically expire after 7 days.

Capital One Landing, a New Airport Lounge Dining Concept, Officially Opens

Capital One’s long-awaited new airport lounge dining concept has finally opened its first location at Ronald Reagan Washington National Airport (DCA). The 5,500-square-foot lounge is located in Terminal 2’s National Hall near Concourse D.

Guests can expect a thoughtfully crafted food and beverage menu by chef José Andrés and a chic bar with talented mixologists and wine directors on site, ready to attend to guests.

The lounge is open daily from 6 a.m. to 9 p.m. daily, and eligible guests must show their boarding pass to enter. Travelers can access the lounge up to 3 hours before their departure time. The On the Fly section (featuring takeaway items) is open from 5 a.m. to 10 p.m.

Hot Tip:

Our guide to Capital One Lounge and Landing locations details which Capital One cardholders have access, guest privileges, and day pass costs.

New British Airways First Class Product Unveiled — What To Know

British Airways released renderings of its new first-class suite, which will be installed on the airline’s Airbus A380 aircraft by mid-2026.

This new British Airways first class has a slew of premium features, like a 32-inch 4K inflight entertainment screen, a lie-flat seat with a 79-inch bed, and dedicated luggage storage for your carry-on bag.

These new suites will be introduced in a 1-2-1 configuration. Each seat will have a privacy door and a 60-inch curved wall that gives travelers more privacy in the air. Seats are 36.5 inches wide and 79 inches long in the lie-flat position.

Oman Air Will Join the Oneworld Alliance in June 2025

The Oneworld alliance, which includes Alaska Airlines and American Airlines, officially gains a new member next year: Oman Air.

Oman Air has a small fleet of just 40 aircraft, compared with the more than 250 of future alliance partner and Gulf neighbor Qatar Airways, but those aircraft offer a luxurious onboard experience.

On the ground, Oman Air also offers the alliance newfound access to its lounges in Bangkok (BKK), Muscat (MCT), and Salalah (SLL) for all Oneworld Emerald and Sapphire members and premium cabin flyers.

Spirit Airlines Has Filed for Bankruptcy but Will Keep Flying

Spirit Airlines, the largest ultra-low-cost carrier in the U.S., has declared bankruptcy under Chapter 11, but the airline will continue to operate as it restructures its business. This comes after news that Spirit and rival Frontier broke off talks to possibly revive their merger, which had been stalled in 2022.

A Chapter 11 filing for bankruptcy means the airline will negotiate with its creditors to obtain new terms on its debts and restructure its business. Spirit would likely emerge from bankruptcy as a smaller company.

People who have bought tickets for Spirit flights can expect to travel as usual, though. “Guests can continue to book and fly without interruption and can use all tickets, credits, and loyalty points as normal,” the statement said.

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 Loyalty Program Transfer Bonuses

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

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