What are points and miles worth? March 2020 monthly valuations

Mar 13, 2020

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One of the questions I’m asked most often is “How much is a point or mile worth?” The answer varies from person to person, and depends on how well you can maximize a particular loyalty currency. Still, some rewards are clearly worth more than others — my goal is to give you a sense of how they stack up.

Related: How (and why) to calculate award redemption values

These valuations are based on a combination of what I would pay to buy points if given the opportunity and the overall value I could get from redeeming them, factoring in variables like award availability, fees and change/cancellation policies. I encourage you to share your thoughts where you think I’m off base (and on point, no pun intended), and I’ll take feedback from TPG readers into consideration when I update the valuations each month.


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To give you some context, I’ve included my valuations from one year ago and from last month. However, it’s worth noting that this month, we are not making any adjustments given the ongoing outbreak of the novel coronavirus, COVID-19. This is having a monumental impact on the overall travel industry, including airline and hotel loyalty programs. It’s too soon to analyze the long-term impact the outbreak will have on the value of the various currencies below, but as business rebounds, we’ll be back to consider just how it has affected the world of points and miles.

Read on for more details, and check the last column of the chart below for some of the most important loyalty program news from the last month.

Program March 2019 (Cents) February 2020 (Cents) March 2020 (Cents) Note
Accor Le Club 2.0 2.0 2.0
Aeroplan Loyalty Program 1.5 1.5 1.5
Alaska Mileage Plan 1.8 1.8 1.8
American AAdvantage 1.4 1.4 1.4

Book Qantas premium economy awards. New fast-track offers to AAdvantage elite status.

American Express Membership Rewards 2.0 2.0 2.0
Amtrak Guest Rewards 2.5 2.5 2.5
ANA Mileage Club 1.4 1.4 1.4
Asia Miles 1.3 1.3 1.3
Avianca LifeMiles 1.7 1.7 1.7
Avios 1.5 1.5 1.5

Earn a 50% bonus when you buy Avios.

Bank of America Premium Rewards 1.0 1.0 1.0
Barclaycard Arrival Miles 1.0 1.0 1.0
Best Western Rewards 0.7 0.6 0.6
Brex Exclusive Rewards - 1.7 1.7
Capital One Rewards 1.4 1.4 1.4
Chase Ultimate Rewards 2.0 2.0 2.0
Choice Privileges 0.6 0.6 0.6

New promotion offers 8k points after two stays.

Citi ThankYou Points 1.7 1.7 1.7
Delta SkyMiles 1.2 1.2 1.2
Diners Club Rewards 2.1 2.1 2.1
Discover Rewards 1.0 1.0 1.0
Emirates Skywards 1.2 1.2 1.2
Etihad Guest 1.4 1.4 1.4
Flying Blue 1.2 1.2 1.2

Buy Flying Blue miles with a 75% bonus.

Frontier Miles 1.1 1.1 1.1
HawaiianMiles 1.2 0.9 0.9
Hilton Honors 0.6 0.6 0.6
IHG Rewards Club 0.5 0.5 0.5
JetBlue TrueBlue Rewards Program 1.3 1.3 1.3

Earn a 40% bonus when you buy TrueBlue points.

Korean Air SkyPass 1.7 1.7 1.7
Marriott Bonvoy 0.9 0.8 0.8

New promotion offers 2k points per stay. Announces coronavirus changes.

Miles & More 1.4 1.4 1.4
Qatar Airways Qmiles 0.8 0.8 0.8
Radisson Rewards 0.4 0.4 0.4
Singapore Krisflyer 1.3 1.3 1.3
Southwest Rapid Rewards 1.5 1.5 1.5
Spirit Airlines Free Spirit 0.4 0.4 0.4
Turkish Airlines Miles and Smiles 1.3 1.3 1.3
U.S. Bank FlexPerks 1.5 1.5 1.5
United MileagePlus 1.4 1.3 1.3

New MilePlay promotion launches.

Virgin Atlantic Flying Club 1.5 1.6 1.6
Wells Fargo Go Far Rewards 1.5 1.5 1.5
World of Hyatt Loyalty Program 1.7 1.7 1.7

New fast-track offers to Hyatt elite status. Announced coronavirus changes, including delay to new award chart.

Wyndham Rewards 1.2 1.1 1.1

New promotion offers 7,500 points after two stays.

 

Key points and miles news

As noted above, the biggest news of the past month has been the coronavirus outbreak, and loyalty programs have launched a number of changes in light of the travel restrictions and ongoing efforts to contain the virus’ spread. Here’s a sample of what we’ve seen thus far:

These updates won’t be the last by any stretch, so if you haven’t already, be sure to sign-up for our daily newsletter. You can also bookmark our coronavirus hub page for up-to-date information on the outbreak.

The future: New methodology

Once the coronavirus outbreak is contained, our team will be diving into the data in greater depth for all airline and hotel programs. I wouldn’t be surprised to see future adjustments to our value for a number of popular currencies, so stay tuned for that.


This is The Points Guy’s permanent page for the most up-to-date valuations, so you can bookmark it and check back each month for updates. Keep in mind you may see some reader comments referring to older valuations below.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.