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? [July 2025]

Updated: July 8, 2025, 8:54am CDT

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Table of Contents

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

Flexible Points Programs

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Flexible Point Program	June 2025 Value (cents/point)	July 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	June 2025 Value (cents/point)	July 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	June 2025 Value (cents/point)	July 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:

Amex Overhauls Confirmed for Later This Year

American Express has confirmed changes are coming to The Platinum Card^® from American Express and The Business Platinum Card^® from American Express “later this year.”

In the announcement confirming upcoming modifications to the cards, Amex touted a few key elements:

Its large lounge network
Its Resy dining platform
Partnerships with other brands
Unique event experiences

Other than that, Amex has been very tight-lipped thus far about what upcoming changes it has planned for its 2 flagship cards.

Chase Launches New ‘Points Boost’ Feature — But Is It Really Worth It?

Chase launched the new Points Boost feature on June 23, 2025. This feature applies to credit cards that earn Ultimate Rewards points, and it applies when using your points to book travel in the Chase Travel portal.

This new feature replaces the old way of using points (and their relative value) in the travel portal, and Points Boost may provide a higher value for your points, depending on what type of travel you’re booking. It offers potentially more value than what your points were previously worth when using them in the Chase Travel portal. However, that won’t always be the case.

As our test searches show, inexpensive hotels and economy plane tickets are less likely to provide Points Boost-eligible reservations. While you may get as much as 2 cents per point on bookings going forward, thanks to Points Boost, you may not — and you most likely won’t if you’re not booking high-end hotels or premium plane tickets.

JetBlue Airways has launched an exciting “25 For 25” promotion.

The promotion is broken down into 3 tiers on flights flown between June 25 and December 31, 2025. Here’s what you’ll need to complete and what you’ll earn:

15 destinations: Earn 150,000 bonus TrueBlue points
20 destinations: Earn an additional 200,000 bonus TrueBlue points
25 destinations: Earn 350,000 TrueBlue points, plus JetBlue Mosaic status for 25 years

This promo might be one of the most exciting airline deals we’ve seen in years. After just 25 destinations, you can earn Mosaic 1 status for 25 years, plus earn 350,000 points worth over $4,500!

First Look: New Capital One Lounge at John F. Kennedy International Airport

Capital One has officially launched its first location in New York City, which is set to be its flagship offering across its entire lounge network.

The lounge, which spans 13,500 square feet, is Capital One’s largest lounge and offers a variety of great amenities, including specially curated premium food and beverage offerings in partnership with celebrated New York businesses and artisans.

The new Capital One lounge will be open 24 hours daily and is located on the lower level of JFK‘s Terminal 4 retail hall. Those with the Capital One Venture X Rewards Credit Card and Capital One Venture X Business CardInformation collected independently. Not reviewed by Capital One. enjoy unlimited complimentary access. Plus, cardholders currently can bring 2 guests at no charge, but that’s changing on February 1, 2026.

First Look at the Delta One Lounge in Seattle, Overlooking the New Sky Club

Delta’s premium-only Delta One Lounge has finally arrived at Seattle-Tacoma International Airport (SEA), becoming the fourth hub in its network to unveil this exclusive space.

Spanning the upstairs level only, this premium lounge measures around 10,000 square feet, seating up to 221 people. The new space is designed to feel like an upscale restaurant, and all meals are served à la carte, with menus provided when you’re seated.

The lounge also features a fully covered outdoor terrace that wraps around 270 degrees and accommodates up to 72 guests.

The Delta One Lounge at SEA will operate from 8:30 a.m. to 8 p.m. daily. However, access is limited to travelers flying in Delta One (on either international or domestic routes) or in business and first class on SkyTeam partner airlines, and you can enter when departing or arriving. In addition, Delta 360° members with a same-day Delta first class ticket can also access the lounge before or after their flight.

Refreshed Chase Sapphire Reserve^® Launches

One of the best premium travel rewards cards on the market, the Chase Sapphire Reserve card, has gone through a major refresh, with a new earning structure, perks, and benefits. Here are a few of the highlights:

8x points on all Chase Travel purchases
5x points on Lyft rides (through September 30, 2027)
4x points on flights and hotels booked directly
3x points on all dining purchases worldwide
$300 annual travel credit
$500 annual The Edit credit
$300 annual dining credit
$300 annual StubHub and viagogo credit
$120 in annual Lyft in-app credits
Complimentary IHG One Rewards Platinum Elite status

New Sapphire Reserve for Business℠ Launches

Last month, Chase introduced the new Chase Sapphire Reserve Business card, which comes with a laundry list of perks and credits:

8x points on all Chase Travel purchases
5x points on Lyft rides (through September 30, 2027)
4x points on flights and hotels booked directly
3x points on advertising purchases made with social media sites and search engines
Over $1,800 worth of annual statement credits
Airport lounge access
IHG One Rewards Platinum Elite status
Excellent travel and purchase protection

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:

American Airlines AAdvantage: Up to a 35% discount (ends TBD)
Avianca LifeMiles: Up to a 160% bonus (ends July 14)
Etihad Guest: Up to a 40% bonus (ends July 6)
Garuda Indonesia: 35% bonus (ends July 16)
Hilton Honors: Up to a 100% bonus (ends July 24)
IHG One Rewards: Up to a 100% bonus (ends July 17)
JetBlue TrueBlue: Up to a 125% bonus (ends August 11)
Marriott Bonvoy: Up to a 40% bonus (ends July 16)
Southwest Rapid Rewards: Up to a 50% discount (ends July 22)
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)
Amex Membership Rewards to Marriott Bonvoy: 20% bonus (ends July 14)
Chase Ultimate Rewards to Air Canada Aeroplan: 20% bonus (ends July 17)
Chase Ultimate Rewards to Marriott Bonvoy: 50% bonus (ends August 15)
Citi ThankYou Rewards to Air France-KLM Flying Blue: 20% bonus (ends July 19)
Citi ThankYou Rewards to Accor Live Limitless: 50% bonus (ends July 19)

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.