Valuations
Updated 2026-09
Point valuations, September 2026
One conservative cents-per-point number per currency, next to the portal rate, the cash rate and what others quote. Planning numbers, not promises.
| Program | Our value | Portal value | Cash value | Others quoteTPG | Others quoteUpgraded Points | Others quoteFrequent Miler | Checked |
|---|---|---|---|---|---|---|---|
| Chase Ultimate Rewards | 1.5¢ | 1.0¢ | 1.0¢ | 2.05¢ | 2.0¢ | 1.5¢ | Checked 2026-09source |
| Amex Membership Rewards | 1.5¢ | 1.0¢ | 1.0¢ | 2.0¢ | 2.2¢ | 1.5¢ | Checked 2026-09source |
| Capital One Miles | 1.45¢ | 1.0¢ | 1.0¢ | 1.85¢ | 1.8¢ | 1.45¢ | Checked 2026-09source |
| Citi ThankYou Points | 1.5¢ | 1.0¢ | 1.0¢ | 1.9¢ | 1.6¢ | 1.5¢ | Checked 2026-09source |
| Bilt Points | 1.55¢ | 1.25¢ | 1.0¢ | 2.2¢ | 2.0¢ | 1.55¢ | Checked 2026-09source |
| Cash back | 1.0¢ | 1.0¢ | 1.0¢ | — | — | — | Checked 2026-09 |
Cents per point. Our value is what the planner uses when it turns a trip into a points target.
How we value points
Editorial estimates of what a point is reasonably worth when redeemed well, set deliberately below optimistic industry headline values. Transferable-currency values assume you transfer to airline/hotel partners for good (not once-in-a-lifetime) redemptions; portal values are the fixed rate the issuer's own travel portal pays. These are planning numbers, not promises — always check the live award price before you transfer. Our figure tracks Frequent Miler's Reasonable Redemption Value, the most conservative of the three published valuations we check (TPG, Upgraded Points, Frequent Miler); all three are shown per currency.
Recent changes
- 2026-09Chase Ultimate RewardsSet to 1.5¢
- 2026-09Amex Membership RewardsSet to 1.5¢
- 2026-09Capital One MilesSet to 1.45¢
- 2026-09Citi ThankYou PointsSet to 1.5¢
- 2026-09Bilt PointsSet to 1.55¢
- 2026-09Cash backSet to 1.0¢
Questions
How do you decide what a point is worth?
We set an editorial estimate of what a point is reasonably worth when redeemed well, deliberately below optimistic headline values. Transferable-currency values assume you move points to airline or hotel partners for good, repeatable redemptions, not once-in-a-lifetime ones.
Why is your number lower than the others quoted in the table?
Our figure tracks the most conservative of the three published valuation tables we check, and all three are shown per currency so you can see the spread. A lower planning number means the planner asks you to earn a little more than you may need, never less.
What are the portal and cash columns?
Portal value is the fixed rate the issuer’s own travel portal pays per point; cash value is what a point is worth taken as a statement credit or cash back. Both are floors: if a transfer cannot beat them for your trip, book through the portal or take the cash.
Independent. No card affiliate links or ads today, so nothing here is paid placement. Numbers checked 2026-09. How we make money · Data status