What are points and miles worth? June 2021 monthly valuations

Jun 4, 2021

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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.

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.

Note: These valuations are not provided by card issuers.


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I’ve included my valuations from one year ago and from last month to give you some context. Given the ongoing pandemic, we are not adjusting valuations at the moment, barring major devaluations and new program launches.

Despite some encouraging signs for the travel industry from the summer, we still see a lot of uncertainty — and some analysts say travel won’t fully rebound until 2024. As a result, it’s still too soon to analyze the long-term impact the outbreak will have on the value of the various currencies below.

That said, we’re currently hard at work on preparing a new methodology for these valuations that’ll kick in when travel ramps back up. Scroll to the bottom for more information.

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 June 2020 (Cents) May 2021 (Cents) June 2021 (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

Announced end of Emirates partnership, start of Oneworld award redemptions.

American AAdvantage 1.4 1.4 1.4
American Express Membership Rewards 2.0 2.0 2.0

Announced 25% transfer bonus to Hawaiian Airlines.

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

Iberia Plus eliminated American award chart sweet spots.

Bank of America Premium Rewards 1.0 1.0 1.0
Barclaycard Arrival Miles 1.0 1.0 1.0
Best Western Rewards 0.6 0.6 0.6
Brex Exclusive Rewards 1.7 1.7 1.7
Capital One Rewards 1.4 1.7 1.7

Announced 25% transfer bonus to Avianca LifeMiles.

Chase Ultimate Rewards 2.0 2.0 2.0
Choice Privileges 0.6 0.6 0.6
Citi ThankYou Points 1.7 1.7 1.7
Delta SkyMiles 1.2 1.1 1.1
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
Frontier Miles 1.1 1.1 1.1
HawaiianMiles 0.9 0.9 0.9
Hilton Honors 0.6 0.6 0.6

Some awards rising in price by 25%.

IHG Rewards Club 0.5 0.5 0.5

Launched new 3x points promotion.

JetBlue TrueBlue Rewards Program 1.3 1.3 1.3
Korean Air SkyPass 1.7 1.7 1.7
Marriott Bonvoy 0.8 0.8 0.8

Devalued Points Advance program.

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

Introduced new promo award tier.

Southwest Rapid Rewards 1.5 1.5 1.5
Spirit Airlines Free Spirit 0.4 1.1 1.1
Turkish Airlines Miles and Smiles 1.3 1.3 1.3
U.S. Bank FlexPerks 1.5 1.5 1.5
United MileagePlus 1.3 1.3 1.3
Virgin Atlantic Flying Club 1.6 1.5 1.5
Wells Fargo Go Far Rewards 1.5 1.5 1.5
World of Hyatt Loyalty Program 1.7 1.7 1.7
Wyndham Rewards 1.1 1.1 1.1

Launched new luxury brand.

Related: Beyond coronavirus — what the future of travel will look like for all of us

Key points and miles news

May was a quiet month for points and miles news. The biggest news came from Alaska Airlines and Emirates, who announced they’re ending their partnership. This change means Alaska members will no longer be able to redeem miles on Emirates flights starting July 31, 2021. Alaska and Emirates elites will also lose reciprocal lounge access. On the bright side, Alaska announced plans to start Oneword award bookings for its new Oneworld partners.

Unfortunately, we also saw Hilton raise the cost of some award nights and Marriott devalue its Points Advance program. Iberia Plus also devalued its American Airlines award chart.

Other notable news includes new transfer bonuses from American Express Membership Rewards and Capital One. Amex is offering transfer bonuses to HawaiianMiles, Hilton Honors and Marriott Bonvoy.

Related: Your complete guide to earning and redeeming with Alaska Airlines Mileage Plan

New travel credit card offers

During the pandemic, we saw several credit card issuers struggle with assessing creditworthiness. We also saw various bonuses and new perks launch for existing cardholders, aimed at keeping them engaged. Now, as we move into the new year, we’re seeing some incredible new welcome bonuses on some popular cards — including the following:

Capital One Venture Rewards Credit Card

(Photo by The Points Guy)

The Capital One Venture Rewards Credit Card is one of the easiest-to-use travel rewards cards. It offers 2x miles per dollar spent on all purchases, so there’s no worrying about bonus categories. You’ll earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening. You can still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months.

For more details, check out our full review of the Capital One Venture card.

Chase Sapphire Preferred Card

Chase Sapphire Preferred Card
(Photo by John Gribben for The Points Guy)

The Chase Sapphire Preferred Card is often seen as the quintessential travel rewards card. With its current welcome offer, you’ll earn an impressive 100,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. These points are worth $2,000 toward travel (based on TPG’s most recent point valuations), so you’re looking at $2,000 in value from just the welcome offer.

For more details, check out our full review of the Chase Sapphire Preferred card.

American Express® Gold Card

(Photo by The Points Guy)

One of the most popular cards for TPG staffers during the pandemic, the Amex Gold is offering 60,000 Membership Rewards points after spending $4,000 on eligible purchases on your new card within the first six months of card membership. This bonus is worth $1,200 based on our valuations, but be sure to check the CardMatch Tool to see if you’re targeted for an even higher offer (subject to change at any time).

The card is also great for many everyday purchases. You’ll earn 4x points at U.S. supermarkets (on up to $25,000 in purchases per calendar year, then 1x) and 4x points at restaurants. The card has a $250 annual fee (see rates and fees).

For more details, check out our full review of the Amex Gold card.

The Platinum Card® from American Express

(Photo by Eric Helgas/The Points Guy)

Even better, you’ll earn a huge 10x points on eligible purchases at U.S. gas stations and U.S. supermarkets, on up to $15,000 in combined eligible purchases, during your first six months of card membership. That’s equivalent to a 20% return (based on TPG valuations) on gas in the U.S. and groceries at U.S. supermarkets, which is hard to beat.

Of course, the card is jam-packed with benefits like airport lounge access, hotel elite status and more. These benefits can make your post-pandemic travel experience smoother and more luxurious than ever before. The card has a $550 annual fee (see rates and fees). Enrollment is required for select benefits.

For more details, check out our full review of the Amex Platinum card.

The Business Platinum Card® from American Express

(Photo by Isabelle Raphael / The Points Guy)
(Photo by Isabelle Raphael / The Points Guy)

The Business Platinum card also offers an enhanced bonus: 125,000 Membership Rewards points after you spend $15,000 on eligible purchases with your card in the first three months of account opening.

The card also provides a slew of additional perks similar to (but slightly different from) the personal version — you can compare the two cards in this guide to see which one would be a better fit for your wallet.

For more details, check out our full review of the Amex Business Platinum card.

Airline credit cards

Aer Lingus, British Airways and Iberia — the three Avios airlines — have nice welcome offers on their respective cobrand credit cards. The Aer Lingus and Iberia cards offer up to 100,000 bonus Avios after meeting the spend requirement, while the British Airways card offers 50,000 Avios and a Travel Together Ticket.

Here’s a closer look at all three offers:

  • Aer Lingus Visa Signature Card: Earn 50,000 bonus Avios after you spend $3,000 on purchases within the first 3 months of account opening. Earn an additional 50,000 Bonus Avios after you spend $20,000 total on purchases within your first year of account opening.
  • British Airways Visa Signature Card: Earn 50,000 bonus Avios after you spend $3,000 on purchases within the first 3 months from account opening. Plus, earn a Travel Together Ticket after spending $20,000 total on purchases within your first year of account opening.
  • Iberia Visa Signature Card: Earn 50,000 bonus Avios after you spend $3,000 on purchases within the first 3 months of account opening. Earn an additional 50,000 Bonus Avios after you spend $20,000 total on purchases within your first year of account opening.

Related: A guide to airline credit card companion tickets

Hotel credit cards

Several hotel credit card sign-up bonuses provide a simple way to boost your point balances when travel returns in full force. Hilton is currently offering increased welcome offers on two of its cards — here’s a snapshot of what’s currently available:

  • Hilton Honors American Express Card: Earn 80,000 bonus points after you spend $1,000 in purchases on the Hilton Honors American Express Card in the first 3 months of card membership. Plus, you can earn an additional 50,000 points after spending a total of $5,000 in purchases on the card in the first 6 months.
  • Hilton Honors American Express Surpass® Card: Earn 130,000 bonus points after you spend $2,000 in eligible purchases on the card in the first 3 months of card membership. Plus, you earn an additional 50,000 points after spending a total of $10,000 in purchases on the card in the first six months.
  • Hilton Honors American Express Aspire Card: Earn 150,000 bonus points after you spend $4,000 in purchases on the card within your first three months of card membership.
  • The Hilton Honors American Express Business Card: Earn 130,000 Hilton Honors Bonus Points after you spend $3,000 in eligible purchases on the card in the first 3 months of card membership.

The information for the Hilton Aspire Amex Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Other hotel credit cards to consider include:

  • IHG Rewards Club Premier Credit Card: Earn 150,000 bonus points after spending $3,000 on purchases within the first three months of account opening.
  • Marriott Bonvoy Boundless Credit Card: Earn 3 Free Night Awards (each free night award has a redemption value up to 50,000 bonus points, that’s a value of up to 150,000 total points) after you spend $3,000 on purchases in the first 3 months from account opening. Plus, earn 10X total points on up to $2,500 in combined purchases at grocery stores, restaurants, and gas stations within the first 6 months from account opening.

All of these new offers put you in a great position to earn a ton of bonus points or miles as you get ready to travel again, and there may be more to come. 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 pandemic and its impact on the travel industry.

Related: Beginner’s Guide to Award Searches on ExpertFlyer

The future: New methodology

As the travel industry continues to rebound from the coronavirus outbreak, our team is already 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 several popular currencies, so stay tuned for that.

For rates and fees of the Amex Gold card, click here.
For rates and fees of the Amex Platinum card, click here.

Featured illustration by The Points Guy


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.

Delta SkyMiles® Platinum American Express Card

Earn 90,000 bonus miles after you spend $3,000 in purchases within the first three months of card membership. Plus, earn a $200 statement credit after your first Delta purchase within the first three months. Offer ends 7/28/21.

With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.

Apply Now
More Things to Know
  • Limited Time Offer: Earn 90,000 Bonus Miles after spending $3,000 in purchases on your new Card in your first 3 months and a $200 statement credit after you make a Delta purchase with your new Card within your first 3 months. Offer expires 7/28/2021.
  • Limited Time Offer: Plus, get a 0% intro APR on purchases for 12 months from the date of account opening, then a variable 15.74%-24.74%. Offer expires 7/28/2021.
  • Accelerate your path to Medallion Status, with Status Boost®. Plus, in 2021 you can earn even more bonus Medallion® Qualification Miles (MQMs) to help you reach Medallion Status.
  • Earn 3X Miles on Delta purchases and purchases made directly with hotels.
  • Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
  • Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
  • Enjoy your first checked bag free on Delta flights.
  • Fee Credit for Global Entry or TSA Pre✓®.
  • Enjoy an exclusive rate of $39 per person per visit to enter the Delta Sky Club® for you and up to two guests when traveling on a Delta flight.
  • No Foreign Transaction Fees.
  • $250 Annual Fee.
  • Terms Apply.
  • See Rates & Fees
Intro APR on Purchases
0% on purchases for 12 months
Regular APR
15.74%-24.74% Variable
Annual Fee
$250
Balance Transfer Fee
N/A
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

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.