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? [June 2025]

Updated: June 30, 2025, 3:48pm CDT

Edited by:

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Table of Contents

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

Flexible Points Programs

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Flexible Point Program	May 2025 Value (cents/point)	June 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	2.0	2.0	$1,000	$2,000
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
Mesa Points	1.3	1.3	$650	$1,300
Rove Miles	1.5	1.5	$750	$1,500
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	May 2025 Value (cents/point)	June 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 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
Club 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	May 2025 Value (cents/point)	June 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:

Big News: JetBlue and United Link Loyalty Programs, United Will Return to JFK

The deal we thought was being negotiated has just been finalized. Whether you’re a United MileagePlus or a JetBlue TrueBlue member, you’ll soon be able to earn and redeem points with the other airline.

As the Blue Sky initiative rolls out, passengers will also enjoy reciprocal elite status benefits when flying the other airline. For example, United MileagePlus elite status holders will benefit from priority boarding and check-in, the ability to make same-day flight changes, and the preselection of priority seating free of charge.

Additionally, beginning in 2027, JetBlue will grant United slot access for up to 7 daily departures at JFK. This is a tactical move for United, as it affords the airline access to JFK — an airport dominated by American, Delta, and, of course, JetBlue.

Bilt Rewards Adds Japan Airlines and Qatar Airways as Points Transfer Partners

Bilt Rewards members can now transfer their points to JAL’s Mileage Bank and Qatar Airways Privilege Club at a 1:1 rate. This brings the Bilt program up to 22 total transfer partners.

Both are welcome additions. Using your Bilt points, you can book highly sought-after experiences in Japan Airlines’ first and business class and Qatar Airways’ QSuite.

Citi Strata Card Replaces Citi Rewards+ With Bigger, Better Perks

The Citi Rewards+^® Card is officially being rebranded as the Citi Strata℠ Card, and the previous version will be fully discontinued on July 20.

The new Citi Strata card will feature a new design made from mostly recycled plastic, expanded bonus categories, and higher earning rates on everyday purchases.

Moreover, Citi is also rolling out an elevated welcome bonus for new Citi Strata card applicants when it becomes available later this year, where they can earn 30,000 bonus points after spending $1,000 within the first 3 months of account opening, adding even more value to this refreshed no-annual-fee card.

Emirates Makes First Class Awards Available Only to Elite Members

As of May 12, first class awards on Emirates using Skywards miles can be booked only by Silver, Gold, or Platinum members of the airline’s Skywards frequent flyer program.

If you don’t have Emirates elite status, you aren’t necessarily shut out of booking first class awards. There are 2 other ways you can still pull it off. T

he first tactic is booking Emirates business class with miles, then upgrading a step to first class, also using miles. Upgrades to first don’t appear to be restricted to elite flyers.

The other tactic is to earn Emirates Skywards elite status through a credit card, such as the Emirates Skywards Rewards World Elite Mastercard^® and Emirates Skywards Premium World Elite Mastercard^®.

Hilton Honors Devalues Points Again, Raises Award Rates at Top Properties

Hilton Honors has quietly increased the number of points required for award redemptions at some of its most sought-after properties — again.

While not all hotels were affected, these increases primarily targeted properties already known for their high award costs. And now, we’re seeing a price hike again on some aspirational properties like the Waldorf Astoria Los Cabos Pedregal and Waldorf Maldives Ithaafushi, with prices for standard award nights topping out at 200,000 points.

The Upgraded Points Podcast Is Here [Follow on YouTube, Spotify, and More]

We’re so excited to announce that “The Upgraded Points Podcast” is finally here. This brand-new weekly travel podcast, hosted by Katie Corrigan Seemann and Chris Hassan, will help you level up your travel experiences and maximize your points and miles like a pro.

You’ll get insider tips, hear about real-world travel experiences, and get answers to your biggest travel questions. Whether you’re a points and miles beginner or a seasoned expert, we’ll help you travel smarter, save money, and unlock next-level adventures.

Tune in each Monday morning for a new episode of “The Upgraded Points Podcast” on YouTube, Spotify, or your favorite podcast platform.

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 France-KLM Flying Blue: Up to an 80% bonus (ends June 25)
American Airlines AAdvantage: Up to a 35% discount (ends TBD)
Choice Privileges: Up to a 30% discount (ends June 20)
Garuda Indonesia: 100% bonus (ends June 21)
Hilton Honors: Up to a 80% bonus (ends TBD)
JetBlue TrueBlue: Up to 125% bonus (ends June 9)
Leading Hotels of the World: Up to a 100% bonus (ends June 20)
Marriott Bonvoy: Up to a 40% bonus (ends July 16)
Radisson Rewards: 50% bonus (ends June 11)
Spirit Airlines: Up to an 80% bonus (ends June 12)
United Airlines: Up to a 30% discount or 60% bonus (ends December 31)
World of Hyatt: 20% discount (ends July 21)

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 Aer Lingus, British Airways, and Iberia: 30% bonus (ends July 15)
Chase Ultimate Rewards to Air Canada Aeroplan: 20% bonus (ends July 17)
Chase Ultimate Rewards to Virgin Atlantic Flying Club: 30% bonus (ends June 15)
Citi ThankYou Rewards to Wyndham Rewards: 25% bonus (ends June 21)

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.