Edited by: Keri Stooksbury
& Juan Ruiz
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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:
|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 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 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|
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:
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.
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.
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.
It was a busy month in the world of points and miles. Here is what made waves last month:
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.
Other changes will include:
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 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 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 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:
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:
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.
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:
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.
Here are the airlines that announced last month that they were adding, removing, or relaunching routes:
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.
For rates and fees of Delta SkyMiles® Reserve American Express Card, click here.
For rates and fees for the Delta SkyMiles® Reserve Business American Express Card, click here.
For rates and fees of The Platinum Card® from American Express, click here.
For rates and fees of The Business Platinum Card® from American Express, click here.
For rates and fees of the American Express® Business Gold Card, click here.
For rates and fees of the American Express® Gold Card, click here.
Unfortunately, there is no single set value for most points and miles programs. So the valuation is entirely subjective and depends on what the points are worth to you, and how you plan to redeem them.
Loyalty programs, and the points or miles associated with them, are constantly changing. Programs often gain or lose transfer partners, change the number of miles required for a given route, or sometimes even ditch their award charts altogether. When these things happen, certain programs’ miles or points can increase or decrease in usefulness based on the changes that were made.
The terms points and miles are used interchangeably, and it really just depends on which term a given program calls its loyalty currency. Some loyalty programs refer to their currency as miles, and others points, but they ultimately have the same function.
That will depend entirely on the type of points you have, and where you’re hoping to fly. Each airline loyalty program has its own 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 will depend on how expensive the cash price of the ticket is.
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UP's Bonus Valuation
This bonus value is an estimated valuation calculated by UP after analyzing redemption options, transfer partners, award availability and how much UP would pay to buy these points.