These are our editorial estimates of the realistic value you can get from each currency — not a guaranteed price. Values move as programs change award charts, so we revise them a few times a year.
Every "points" question eventually comes back to one number: what is a point actually worth? This page is the anchor — our current cents-per-point values for every major program, how we get them, and worked examples you can copy — so every decision downstream (which card to get, whether to pay cash or points, where to transfer) becomes simple arithmetic.
Advertiser disclosure: this page links to offers from our partners and we may be compensated when you're approved. It does not affect our editorial estimates.
Quick answer
- The formula: (cash price − taxes/fees on the award) ÷ points used × 100 = cents per point
- Top transferable points: Chase Ultimate Rewards, Amex Membership Rewards and Bilt at 2.0¢; Capital One 1.85¢; Citi ThankYou 1.8¢; Wells Fargo 1.65¢
- Best hotel points: World of Hyatt at 1.7¢; Hilton Honors lowest at 0.5¢ (but you earn a ton)
- Rule of thumb: beat our baseline → use points; below it → pay cash and keep them
- Biggest trap: cashing out at a flat 1¢ or less — 100,000 Amex points for cash = $600 (0.6¢ each)
Free tool: see what your Chase, Amex, Capital One, Citi or Bilt points become at every airline and hotel, with live transfer bonuses at kritdeals.com/transfer-calculator, or in the free KritDeals app for iPhone and Android.
At a glance
Transferable card points are the crown jewels — they transfer to many airlines and hotels, so their value is the best you can extract across all their partners.
| Program | Our value | Earned on |
|---|---|---|
| Chase Ultimate Rewards | 2.0¢ | Sapphire, Ink, Freedom |
| Amex Membership Rewards | 2.0¢ | Platinum, Gold, Green, Business |
| Bilt Rewards | 2.0¢ | Bilt cards (fee-free rent unlocks) |
| Capital One miles | 1.85¢ | Venture, Venture X, Spark |
| Citi ThankYou Points | 1.8¢ | Strata Premier, Strata Elite |
| Wells Fargo Rewards | 1.65¢ | Autograph, Autograph Journey |
Why they're worth the most: a single Chase point can become a United mile, a Hyatt point, an Air Canada mile, or 1–1.5¢ of cash toward paid travel — you pick the highest use at redemption time. See our transfer partners guide for every partner and ratio. Airline and hotel values follow below.
The one formula that matters
Value per point (in cents) = (cash price of the trip − taxes/fees paid on the award) ÷ points used × 100
If a flight costs $500 cash, or 25,000 miles + $5.60 in taxes on the award, then:
($500 − $5.60) ÷ 25,000 × 100 = 1.98¢ per mile
Compare that 1.98¢ to our baseline value for that program. If you're beating the baseline, it's a good redemption. If you're getting less, pay cash and keep your points. That's the whole game.
Rule of thumb: redeem for more than our baseline = great. At baseline = fine. Below baseline (e.g. cashing points out at 1¢, or "pay with points" portals at a fixed 1¢) = you're leaving money on the table.
Airline miles
| Program | Alliance | Our value | Known for |
|---|---|---|---|
 American AAdvantage |
Oneworld | 1.65¢ | Web specials, partner first class |
 Air Canada Aeroplan |
Star Alliance | 1.5¢ | No fuel surcharges, generous routing |
 Atmos Rewards (was Alaska) |
Oneworld | 1.45¢ | Partner sweet spots, stopovers — re-verify under Atmos |
 United MileagePlus |
Star Alliance | 1.35¢ | Dynamic, but huge partner network |
 Southwest Rapid Rewards |
— | 1.35¢ | Fixed-value, free cancellations |
| Air France/KLM Flying Blue | SkyTeam | 1.3¢ | Monthly Promo Rewards to Europe |
 British Airways / Avios |
Oneworld | 1.4¢ | Cheap short-haul, distance-based |
 Avianca LifeMiles |
Star Alliance | 1.4¢ | Low Star Alliance rates, no surcharges |
 Virgin Atlantic Flying Club |
SkyTeam | 1.35¢ | ANA first class, strong Delta pricing |
 JetBlue TrueBlue |
— | 1.3¢ | Fixed-value, family pooling |
 Delta SkyMiles |
SkyTeam | 1.2¢ | No award chart, but flash sales |
| ANA Mileage Club | Star Alliance | 1.4¢ | Round-the-world, cheap biz on United |
| Singapore KrisFlyer | Star Alliance | 1.35¢ | Only way into Singapore Suites |
 Turkish Miles&Smiles |
Star Alliance | 1.3¢ | 15K United domestic (post-Dec 2025 cuts), 45K to Europe |
| Emirates Skywards | — | 1.2¢ | First class + shower spa |
| Qatar Privilege Club Avios | Oneworld | 1.4¢ | Qsuite business class |
 Cathay Asia Miles |
Oneworld | 1.3¢ | Distance-based, Cathay first |
 Qantas Frequent Flyer |
Oneworld | 1.3¢ | A380 First to Australia; cheap partner awards |
| Etihad Guest | — | 1.2¢ | Occasional partner sweet spots |
Hotel points
Hotel points swing more than airline miles — a Hyatt point in a top suite can beat a Hilton point 4-to-1. Treat these as averages; the value on any given night depends entirely on that hotel's cash rate.
| Program | Our value | Notes |
|---|---|---|
| World of Hyatt | 1.7¢ | Best-in-class; a real award chart with caps |
| Wyndham Rewards | 0.9¢ | Flat tiers; villas at ~15K/bedroom/night |
| Marriott Bonvoy | 0.8¢ | Huge footprint, dynamic pricing |
| IHG One Rewards | 0.6¢ | 4th-night-free card perk (PointBreaks ended ~2020) |
| Choice Privileges | 0.6¢ | Cheap European partner redemptions |
| Hilton Honors | 0.5¢ | You earn a ton, so still useful |
| Accor Live Limitless | ~2.0¢ | Fixed value (2,000 pts ≈ €40) |
Don't be fooled by the low cents-per-point on Hilton and Marriott. They hand out points fast (10x+ base earning at Hilton), so a "cheaper" point you earn 3× as many of can still out-earn a "premium" point. Value per point ≠ value per dollar spent.
Worked examples — the same points, wildly different value
Example 1 — Domestic economy (baseline redemption). A $220 nonstop from Chicago to New York. United charges 12,500 miles + $5.60. ($220 − $5.60) ÷ 12,500 × 100 = 1.71¢/mile. Above our 1.35¢ baseline → transfer Chase points to United and book it.
Example 2 — Transatlantic business class (the "aspirational" redemption). A $4,800 lie-flat seat to Europe. Air France Flying Blue prices it at 55,000 miles + ~$250. ($4,800 − $250) ÷ 55,000 × 100 = 8.3¢/mile. More than 6× baseline. This is why people chase points.
Example 3 — Hyatt suite (why Hyatt wins hotels). A Category 4 Hyatt suite going for $520/night books at ~15,000 points for a standard room on a mid-level date + a suite upgrade, or ~26,000 for the suite directly. (Since May 2026 Hyatt prices each category across five demand-based levels, so check your dates.) $520 ÷ 26,000 × 100 = 2.0¢/point — and as a Globalist you might get it as a free upgrade on a 15K standard-room night, pushing effective value past 3.4¢.
Example 4 — The trap: cashing out. 100,000 Amex points "redeemed for cash" = $600 (0.6¢ each). The same points, topped up to 110,000 → 55,000 miles each for two people in business class to Europe = $8,000+ of flights. Cashing out threw away ~92% of the value.
Example 5 — Wyndham villa (a hidden gem). A 2-bedroom Vacasa villa listing at $600/night books at 30,000 Wyndham points (15K per bedroom). $600 ÷ 30,000 × 100 = 2.0¢/point — more than double our 0.9¢ average.
How to actually use these numbers
- Before you book anything, price it both ways: cash vs. points + taxes.
- Run the formula. Compare to the baseline in the tables above.
- Beat the baseline → use points. Below it → pay cash, keep points for a redemption that beats it.
- Never redeem transferable points at a flat 1¢ (cash-out or "use points at checkout") unless you have no travel plans at all.
- Transfer only when you're ready to book — points in your card account are flexible; once moved to an airline, they're stuck there.
Where these currencies come from
Each program below has its own guide — how to earn, its best "sweet spot" redemptions, and worked examples:
- Cards: Chase Sapphire Preferred · Amex Platinum · Capital One Venture X · Citi Strata Premier · Bilt
- Airlines: United · Delta · American · Air Canada Aeroplan · Avios
- Hotels: World of Hyatt · Marriott Bonvoy · Hilton Honors
The full library is in our Guides section.
Bottom line
Price every trip both ways, run the formula, and use points only when you beat our baseline. Transferable points (2.0¢ for Chase, Amex and Bilt) are the most valuable because you choose the partner at redemption time — and cashing them out at a flat 1¢ or less is the fastest way to throw that value away.
FAQ
How do I calculate what a point is worth? Use (cash price of the trip − taxes/fees paid on the award) ÷ points used × 100. A $500 flight that costs 25,000 miles + $5.60 works out to 1.98¢ per mile.
What are Chase Ultimate Rewards points worth? Our value is 2.0¢ per point — the same as Amex Membership Rewards and Bilt Rewards — because they transfer to many airline and hotel partners.
Are Hilton and Marriott points worthless because their cents-per-point is low? No. They hand out points fast (10x+ base earning at Hilton), so value per dollar spent can still be strong. Value per point ≠ value per dollar spent.
Should I cash out my points? Usually not. Cashing out 100,000 Amex points gets $600 (0.6¢ each); the same points toward business class to Europe can be worth $8,000+ in flights.
When should I transfer points to an airline or hotel? Only when you're ready to book — points in your card account are flexible, but once moved to an airline they're stuck there.
