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

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Jarrod West

Jarrod West

Senior Content Contributor

Countries Visited: 21U.S. States Visited: 24

Boasting a portfolio of over 20 cards, Jarrod has been an expert in the points and miles space for over 6 years. He earns and redeems over 1 million points per year and his work has been featured in o...
Edited by: Keri Stooksbury

Keri Stooksbury


Countries Visited: 39U.S. States Visited: 28

With years of experience in corporate marketing and as the Executive Director of the American Chamber of Commerce in Qatar, Keri is now Editor-in-Chief at UP, overseeing daily content operations and r...

We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

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’ September 2023 Points and Miles Valuations

Flexible Points Programs

Flexible Point ProgramAugust 2023 Value (cents/point)September 2023 Value (cents/point)Value of 50k / 100k Points
Amex Membership Rewards Points2.22.2$1,100 / $2,200
Bank of America Preferred Rewards1.01.0$500 / $1,000
Barclaycard Arrival Miles1.01.0$500 / $1,000
Bilt Rewards1.81.8$900 / $1,800
Brex Rewards1.51.0$500 / $1,000
Capital One Miles1.81.8$900 / $1,800
Chase Ultimate Rewards Points2.02.0$1,000 / $2,000
Citi ThankYou Rewards Points1.61.6$800 / $1,600
Diners Club Rewards Points2.02.0$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 ProgramAugust 2023 Value (cents/point)September 2023 Value (cents/point)Value of 50k / 100k Points
Aer Lingus AerClub Avios1.251.25$650 / $1,300
Air Canada Aeroplan Points1.51.5$750 / $1,500
Air France/KLM Flying Blue Miles1.31.3$650 / $1,300
Alaska Airlines Mileage Plan Miles1.81.8$900 / $1,800
American Airlines AAdvantage Miles1.41.4$700 / $1,400
All Nippon Airways (ANA) Mileage Club Miles1.41.4$700 / $1,400
Asiana Airlines Asiana Club Miles1.61.6$800 / $1,600
Avianca Airlines LifeMiles1.41.4$700 / $1,400
Breeze Airways BreezePoints1.01.0$500 / $1,000
British Airways Executive Club Avios1.251.25$650 / $1,300
Cathay Pacific Asia Miles1.31.3$650 / $1,300
Delta Air Lines SkyMiles1.21.2$600 / $1,200
Emirates Skywards Miles1.11.1$550 / $1,100
Etihad Airways Etihad Guest Miles1.41.4$700 / $1,400
Frontier Airlines FRONTIER Miles1.11.1$550 / $1,100
Hawaiian Airlines HawaiianMiles0.90.9$450 / $900
Iberia Plus Avios1.251.25$650 / $1,300
JetBlue TrueBlue Points1.31.3$650 / $1,300
Korean Air SKYPASS Miles1.61.6$800 / $1,600
Lufthansa Miles & More Miles1.31.3$650 / $1,300
Qatar Airways Privilege Club Avios1.251.25$650 / $1,300
Singapore Airlines KrisFlyer Miles1.351.35$675 / $1,350
Southwest Airlines Rapid Rewards Points1.31.3$650 / $1,300
Spirit Airlines Free Spirit Points1.11.1$550 / $1,100
Turkish Airlines Miles&Smiles Miles1.31.3$650 / $1,300
United Airlines MileagePlus Miles1.21.2$600 / $1,200
Virgin Atlantic Flying Club Virgin Points1.41.4$700 / $1,400

Hotel Loyalty Programs

Hotel Loyalty ProgramAugust 2023 Value (cents/point)September 2023 Value (cents/point)Value of 50k / 100k Points
ALL – Accor Live Limitless Rewards Points2.32.3$1,150 / $2,300
Best Western Rewards Points0.60.6$300 / $600
Choice Hotels Choice Privileges Points0.60.6$300 / $600
Hilton Hotels Hilton Honors Points0.50.5$250 / $500
Hyatt Hotels World of Hyatt Points1.51.5$750 / $1,500
IHG Hotels & Resorts IHG One Rewards Points0.50.5$250 / $500
Marriott Hotels Marriott Bonvoy Points0.70.7$350 / $700
Radisson Rewards Points0.250.25$125 / $250
Wyndham Hotels & Resorts Wyndham Rewards Points0.90.9$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 highest 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:

Cost of Authorized User Fees Significantly Increases for The Platinum Card® from American Express

Previously, Amex Platinum card primary account holders were charged $175 (rates and fees) for up to 3 additional users, then $175 for each card thereafter. However, with Amex’s update in August, authorized user fees for additional Amex Platinum cards jumped to $195 per card.

While it’s only a modest $20 bump for primary account holders with 1 authorized user, this change brought a massive fee increase for 3 additional Amex Platinum cards. For a cardholder with 3 users, you’d now be on the hook for $410 more in fees per year (a 230% increase).

These changes are effective immediately for new Amex Platinum cardmembers and any new authorized users added to existing accounts. However, current cardmembers should receive a notice 45 days before the effective date of the new fee for authorized users on their account.

American Will Transition to Revenue-Based Earning for British Airways and Iberia Flights

Starting on October 18, 2023, American AAdvantage members traveling on British Airways– or Iberia-marketed tickets will earn redeemable miles (as well as elite status qualifying Loyalty Points) based on the cost of the flight.

Previously, each AAdvantage airline partner earned miles differently, based on the fare class and percentage of distance flown. Now, American is adding British Airways and Iberia into its revenue-based loyalty scheme.

Here’s how that breaks down for British Airways- and Iberia-marketed flights, sans government-imposed taxes and fees.

  • No Status Member: 5 miles per dollar spent
  • Gold Member: 7 miles per dollar spent
  • Platinum Member: 8 miles per dollar spent
  • Platinum Pro Member: 9 miles per dollar spent
  • Executive Platinum Member: 11 miles per dollar spent

Capital One Adds Language Limiting Welcome Offers to Every 48 Months

There’s a vast array of rules to navigate when it comes to credit card applications. Now, Capital One is the latest issuer to explicitly state how often you can earn a welcome bonus offer on a specific card product.

Capital One has modified the terms and conditions when a customer applies for a card. In the “View Important Rates and Disclosures” section of Capital One credit card applications, the language has been altered to state the following:

“Existing or previous cardmembers are not eligible for this product if they have received a new cardmember bonus for this product in the past 48 months.”

It’s important to note that this restriction appears to not apply to card families but rather is applicable only to individual cards. For instance, if you received a welcome offer on the Capital One Venture X Rewards Credit Card, you likely would not have to wait the full 48 months to receive one on the Capital One Venture Rewards Credit Card. This is good news for potential cardholders and anyone looking to maximize the number of Capital One miles they’ll earn.

Get Paid $1,500 To Fly First Class [Enter Contest by October 6]

Upgraded Points is offering a unique opportunity. We’re looking to sponsor 1 adventurous traveler with $1,500 to make that upgrade to first class and share their candid experience. 

We’re seeking applicants who have never flown first class before, ensuring we obtain a fresh and unbiased review of the experience. The winner should plan to take a round-trip U.S. domestic flight, completing both the departure and return before December 31, 2023. Upon completion, the winner will be requested to complete a scorecard detailing their experience. Prior flying history is not a prerequisite.

To apply, you MUST FILL OUT THE FORM ON THE APPLICATION PAGE, where you’ll be asked to answer a few questions about your flying experience, what trip you’d put this towards, and why we should select you. You must also fill out the required fields, such as your name and email, so that we can notify the winner once one has been selected.

Any applicants who do not complete the entry form will not have an official entry into the candidate pool. 

The deadline for contest entries is Friday, October 6, 2023, at 11:59 PM ET. Applicants will need to submit their applications by that date to be considered.

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:

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

International Airlines

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 Capital One Venture X Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Capital One Venture Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

For rates and fees of The Platinum Card® from American Express, click here.

Frequently Asked Questions

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.

About Jarrod West

Boasting a portfolio of over 20 cards, Jarrod has been an expert in the points and miles space for over 6 years. He earns and redeems over 1 million points per year and his work has been featured in outlets like The New York Times.


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