Travel Points & Miles Valuations – How Much Are They Actually Worth? [December 2023]

Credit cards, airlines, and hotels don’t give out their own point and mile valuations, so, unfortunately, there are no official answers on what points and miles are actually worth. Therefore, it’s up to you to make your own conclusions on that value. However, 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 what we’ve taken 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 2023 Points and Miles Valuations

Flexible Points Programs

Flexible Point Program	November 2023 Value (cents/point)	December 2023 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 or $1,000
Barclaycard Arrival Miles	1.0	1.0	$500 or $1,000
Bilt Rewards	1.8	1.8	$900 / $1,800
Brex Rewards	1.5	1.0	$500 or $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

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

Airline Loyalty Program	November 2023 Value (cents/point)	December 2023 Value (cents/point)	Value of 50k or 100k Points
Aer Lingus AerClub Avios	1.25	1.25	$650 / $1,300
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	1.8	1.8	$900 / $1,800
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 or $1,000
British Airways Executive Club Avios	1.25	1.25	$650 / $1,300
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	$650 / $1,300
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	$650 / $1,300
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

Hotel Loyalty Program	November 2023 Value (cents/point)	December 2023 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 why we ranked the highest-valued points as such:

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), along with many non-alliance partners, so it’s easier to find award space compared to other transferable points. Some of the Amex transfer partners include Qantas, Air Canada, and Emirates.

Hot Tip: It is no secret that transferable points are our favorite rewards to earn, thanks to their flexibility and the powerful redemptions they offer. If you’d like more information on the major transferable point currencies, we’ve put together 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, Singapore Airlines, and more. Redemption rates are lower than other partners across the board.

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’ll 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 Is Completely Overhauling Its Award Charts in 2024

Say goodbye to some of your favorite sweet spots, Alaska Airlines loyalists. Starting in March 2024, Alaska is moving to a distance-based redemption system.

It will include 3 regional award charts for travel to and from the U.S.: the Americas; Europe, the Middle East, and Africa; and Asia and the Pacific. The airline’s subregions, including Hawaii, the Caribbean, and Central America, will now be considered part of North America.

The new charts will apparently mean the end of some of our longtime favorite Alaska Airlines redemptions, like Cathay Pacific.

Other changes will include:

• Short-haul awards starting at 4,500 miles each way instead of 7,500
• Premium economy awards starting at 6,000 miles instead of 12,500
• Business class awards starting at 9,000 miles instead of 20,000
• Premium economy redemptions with more airline partners
• One-way redemption pricing for all partner airlines, making it easier to mix and match routes

The upcoming redemption changes to the Mileage Plan program will not go into effect until March 2024. Therefore, it is premature to draw definitive conclusions about these changes’ impact on points-and-miles flyers. That said, we will be monitoring the changes over the coming months and adjusting our valuation of Alaska miles accordingly.

Marriott Introduces Nightly Upgrade Awards in Place of Suite Night Awards

Marriott Bonvoy is revamping its Suite Night Award program for Platinum and Titanium Elites.

When you earn Marriott Bonvoy Platinum Elite or Titanium Elite status, you get to choose from several choice benefits, one of which is the former Suite Night Awards, now rebranded as Nightly Upgrade Awards.

Marriott Bonvoy is changing how these certificates work:

• The awards are changing to Nightly Upgrade Awards, which reflect the broad use of these certificates. They’re no longer meant for upgrading just into suites, but also preferred or larger rooms. If you want a better view room, for example, you can use a Nightly Upgrade Award on that better room. Of course, you’re still eligible for on-arrival upgrades depending on your status, and these upgrades certainly could include those better rooms. The point of using a certificate is to guarantee the upgrades in advance.
• Previously, you could not use a Suite Night Award at Aloft, EDITION, Element, Protea, and The Ritz-Carlton hotels. Effective January 1, 2024, you can use your Nightly Upgrade Award certificates at these brands.
• Nightly Upgrade Awards will now only clear 3 days in advance of check-in, a change from the 5 days that were allowed for Suite Night Awards. This means the hotel has a few more days to potentially sell these better rooms.

The new changes to the Nightly Upgrade Awards are definitely a mixed bag. While more rooms will be available for upgrade, you’ll also see a shorter window in which those upgrades can be confirmed. 

United Tweaks MileagePlus Status Earning Structure

United MileagePlus has shared some changes it’s making to its MileagePlus elite status program for 2024.

The primary takeaway here is that United isn’t making any changes to the requirement thresholds for any of its status tiers — great news for flyers who want to re-qualify for status or make a go at it for the first time.

Starting next year, anyone with a United co-branded credit card will earn 25 PQPs for every $500 in qualifying purchases. Previously, this rate was 500 PQPs for every $12,000 in qualifying purchases, so this change really is a significant improvement.

Currently, there’s a cap of 15,000 PQPs able to be earned from card spend per account holder. As of next year, this maximum across all cards will go away, though each United co-branded card has its own individual cap, which makes things a little confusing:

• Those with the United Club℠ Infinite Card will be able to earn a maximum of 10,000 PQPs (this is up from the current 8,000-PQP maximum)
• Those with the United Quest℠ Card will be able to earn a maximum of 6,000 PQPs (unchanged)
• Those with the United℠ Explorer Card will be able to earn a maximum of 1,000 PQPs (unchanged)
• Those with the United℠ Business Card will be able to earn a maximum of 1,000 PQPs (unchanged)

Also starting in 2024, all PQPs earned through credit card spend will count toward all status tiers, including Premier 1K. As it stands now, PQPs earned from credit card spending do not count toward earning 1K status unless the 54 PQF requirement is also satisfied.

Additionally, on February 1, 2024, United will deposit a lump sum of PQPs into the account of anyone who earned elite status this year (except those who earned their status by way of a match or challenge), according to the following breakdown:

• Premier Silver members will receive 250 PQPs
• Premier Gold members will receive 500 PQPs
• Premier Platinum members will receive 750 PQPs
• Premier 1K members will receive 1,250 PQPs

World of Hyatt Changes Milestone Rewards and Guest of Honor Bookings

Hyatt is making a few notable changes regarding Milestone Rewards and Guest of Honor Awards, with new changes set to take effect on January 1, 2024.

For starters, Hyatt will refresh existing Milestone Rewards and add new tiers — up to 150 nights — incentivizing those who love the brand even further:

Qualifying Nights/Base Points Earned	Current Milestone Rewards	Milestone Rewards (Effective January 1, 2024)
20 nights or 35,000 base points	2 Club Lounge Access Awards	2K Next Stay Reward, 2 Club Lounge Access Awards or $25 FIND experience credit
30 nights or 50,000 base points	1 Category 1-4 Free Night Award and 2 Club Lounge Access Awards	1 Guest of Honor Award and your choice of 2 Club Lounge Access Awards or a $25 FIND experience credit
40 nights or 65,000 base points	5,000 bonus points, a $100 Hyatt gift card or a $150 FIND experience credit	1 Category 1-4 Free Night Award and your choice of 5,000 bonus points, 1 Suite Upgrade, or a $150 FIND experience credit
50 nights or 80,000 base points	2 Suite Upgrade Awards	Your choice of 5,000 bonus points, 1 Suite Upgrade, or a $150 FIND experience credit
60 nights or 100,000 base points	1 Category 1-7 Free Night Award and 2 Suite Upgrade Awards and Access to My Hyatt Concierge	2 Guest of Honor Awards, 1 Category 1–7 Free Night Award, 2 Suite Upgrade Awards, and Access to My Hyatt Concierge
70, 80, or 90 nights	10,000 bonus points or 1 Suite Upgrade Award	1 Guest of Honor Award and your choice of 10,000 bonus points, 1 Suite Upgrade Award, or a $300 FIND experience credit
100 nights	10,000 bonus points or 1 Suite Upgrade Award	1 Category 1-7 Free Night Award and your choice of 10,000 bonus points, 1 Suite Upgrade Award, or a Miraval Extra Night
110, 120, 130, or 140 nights	N/A	1 Guest of Honor Award and your choice of 10,000 bonus points, 1 Suite Upgrade Award, or a Miraval Extra Night
150 nights	N/A	Ultimate Free Night Award and your choice of 10,000 bonus points, a Suite Upgrade Award, or a Miraval Extra Night

Additionally, come the new year, the Guest of Honor program will be gutted for most Globalist members. While Globalist members will start off with 5 Guest of Honor Awards next year, it will then be a milestone reward available to members starting at 40 nights or 65,000 base points, with the potential to earn up to 10 awards per year.

That said, the new Guest of Honor program is now bookable on paid or award bookings, up to a 7-night maximum. Also, the Globalist member will earn 1 elite night credit toward their status when their Guest of Honor completes their stay. Both of which are positive additions. 

New Opportunities To Purchase Points

If you need to boost your mileage balances but you aren’t in the market for a new credit card, here are the latest opportunities to purchase points with a bonus:

• American Airlines — Up to 35% Bonus
• Flying Blue — Up to 100% Bonus
• Mileage Plan — Up to 50% Bonus
• IHG One Rewards — Up to 100% Bonus

Hot Tip: Keep track of 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

• Alaska Airlines Adds New Nonstops to Honolulu and Miami
• Alaska Airlines Launches Portland to Nashville Route
• American Airlines Plans New Routes to Tulum, Tokyo, and More in 2024
• Breeze Adds 2 Routes in the West, Brings Commercial Flights Back to Ogden
• JetBlue Adds 5 New Routes, Including to the Caribbean
• JetBlue Inaugurates St. Kitts and Nevis Service From New York-JFK
• New Hawaiian Airlines Routes From Sacramento and Salt Lake City
• Spirit Airlines Set To Cut All Denver Flying From Early Next Year
• United Adds More Florida Routes for Winter
• United Launches Tulum Flights From Chicago, Houston, LA, and Newark in 2024

International Airlines

• Aeromexico Announces New Daily Service to Raleigh-Durham
• Etihad’s A380 Will Fly to New York in 2024 [AUH to JFK]
• WestJet Will Connect More of the U.S. and Canada in 2024

Final Thoughts

While the value of points and miles can vary, you want to ensure you’re getting 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. These points are extremely flexible given the number of Amex airline and hotel partners. Membership Rewards also offers good transfer rates with a ton of redemption options, ensuring you can get the most out of your points.

The information regarding The Hilton Honors American Express Surpass^® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. 
The information regarding the Hilton Honors American Express Aspire Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

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