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Are loyalty programs are even worth it anymore? Watch this recorded webinar to learn more

Nov. 12, 2021
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4 min read
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Article banner for Travel Week at the 2021 TPG Awards

Whenever a loyalty program makes a negative change — be it removing award charts or adjusting prices with little to no notice — the doom-and-gloom crowd comes out in full force. They lament the end of outsized value for points and miles while simultaneously lambasting the offending company.

And the last several weeks provided plenty of fodder.

With Marriott announcing that it would soon get rid of published award charts, American announcing a major overhaul of how you’ll earn AAdvantage elite status in coming years, it has a lot of readers asking a simple question: Are loyalty programs even worth it anymore?

Well here at The Points Guy, we wanted to tackle that question head on — and we did just that on our most recent TPG Talks webinar, part of Travel Week at the 2021 TPG Awards.

During the session, I sat down with fellow editorial team members Summer Hull, Benét Wilson and Benji Stawski to discuss our own take on this pressing question. Together, we bring decades of cumulative experience in earning and redeeming travel rewards across virtually every loyalty program out there.

And if you missed the live webinar, you're in luck — as the full recording is below.

Why we held this session

We frequently tout the value of top loyalty programs at TPG, and there are still ways to make the most of these currencies. Plus, not all of them are going backwards. We even honored one program — Air Canada’s Aeroplan — with our Investment in Airline Loyalty award last week.

Nevertheless, gone are the days of many lucrative sweet spots like:

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  • A Hilton Honors award chart that topped out at 50,000 points per night (now 120,000 points — though with no published chart)
  • A one-way flight in Cathay Pacific first class from the U.S. to Asia for 67,500 AAdvantage miles (now 110,000 miles)
  • A round-trip, business-class flight to the Seychelles with a free stopover in Paris for 120,000 Delta SkyMiles (now … well, who knows?)

Even well regarded programs like the World of Hyatt aren’t immune to this trend, as the program just introduced peak and off-peak pricing on award stays last month (albeit after multiple delays due to the pandemic).

Read more: TPG special analysis — How Hyatt’s peak and off-peak pricing changed average award rates

And with the increasing prominence of fixed-value programs — including Capital One Rewards, which launched its new premium Capital One Venture X Rewards Credit Card earlier this week, and the underrated Hotels.com Rewards program — why should an average traveler even worry about these airline- and hotel-specific programs?

Key takeaways from the session

We covered a lot of ground during the session, but here's a snapshot of what we discussed:

So ultimately, are loyalty programs worth it? The general consensus was, "Yes, but ..."

In other words, there are still ways to make the most of these programs. And since they're all free to join (and some have points and miles that don't expire – including United, Southwest and Virgin Atlantic), there's no harm to signing up for any and all of them.

That said, they're not for everyone. So make a plan that works best for you — and be prepared to adapt when things change.

Full recording

If you want to catch more of the discussion, be sure to review the full recording right here:

Featured image by ZACH GRIFF/THE POINTS GUY
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Apply for American Express® Gold Card
at American Express's secure site
Terms & restrictions apply. See rates & fees
Best for dining at restaurants

American Express® Gold Card

TPG Editor‘s Rating
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Rewards Rate

4XEarn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
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  • Intro Offer

    As High As 100,000 points. Find Out Your Offer.

  • Annual Fee

    $325

  • Recommended Credit

    Excellent to Good

Why We Chose It

There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)

Pros

  • 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
  • 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
  • Packed with credits foodies will enjoy
  • Solid welcome bonus

Cons

  • Not as useful for those living outside the U.S.
  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
  • Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
  • Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
  • Terms Apply.