How Much Are Travel Points and Miles Worth in 2024?

Updated: October 8, 2024

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The world of travel rewards can be confusing and overwhelming. Each rewards program usually comes with its own rewards currency, value-per-point/mile, transfer partners and redemption policies. As such, it can take some work to determine which rewards programs offer you the best value and will suit your lifestyle and spending habits. To make this process a little easier, MoneyGeek broke down how much airline miles and points are worth in a specific program.

What We're Geeking Out On

MoneyGeek’s Takeaways

The value of airline miles and hotel points can vary based on the rewards program and your booking details.

Co-branded credit cards are ideal for individuals who favor a specific airline or hotel chain.

You may have more flexibility in redeeming miles or points if you use a general travel credit card.

How Much Are Airlines Miles/Points Worth?

Airline miles are the currency used by airlines to reward frequent fliers. You can typically earn airline miles by flying with a specific airline, using that airline’s shopping portal or participating in the airline’s dining program. Alternatively, you can get a credit card that rewards you with miles when you spend. Once you’ve racked up enough airline miles, you can redeem them for discounted or free flights.

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You can calculate the value of airline miles by subtracting the taxes paid from the cash price of your ticket and dividing the difference by the number of miles required to book a flight. So, if the flight costs $398.20 or 30,000 miles plus $11.20 in taxes and fees, the value would be roughly 1.3 cents per mile.

To maximize the airline miles you earn, make sure to get the right credit card based on your traveler profile. A co-branded credit card is preferable if you frequently travel with one airline, whereas a general travel card is ideal if you don’t have a preferred airline. You can also maximize your miles by taking advantage of welcome bonuses offered by airlines or travel cards.

Value of Airline Point/Mile per Dollar
Airlines Rewards Program
Value per Mile/Point
Why We Geek Out

1.4 cents to 1.8 cents per mile

Can fly to approximately 1,100 destinations worldwide.

1.1 cents to 1.2 cents per mile

Miles are unlimited and have no expiration date.

1.3 cents to 1.4 cents per mile per mile

Allows you to pool points with family members and friends.

1.4 cents per point

Companion Pass allows a guest to fly with you for almost free.

1.2 cents to 1.3 cents per mile

Member of Star Alliance, the first global aviation alliance.

In general, you're not usually able to transfer airline miles between rewards programs. You may, however, use your miles to book a flight with an airline partner. For instance, American Airlines allows you to earn and redeem miles with its partner airlines, including Alaska Airlines, British Airways, Japan Airlines and more. If you're using a travel credit card like Citi Premier, you may be allowed to convert points to miles by transferring them to a frequent flyer program.

How Much Are Hotel Points Worth?

Hotel points are a hotel’s currency that you can typically spend within the hotel chain. In general, you accrue hotel points based on how much you spend at a hotel. But you also stand to earn hotel points when you use hotel shopping portals or participate in hotel dining programs. These points can be redeemed for discounted rooms or award stays.

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To calculate the value of hotel points, you need to divide the actual price of the booking by the number of points needed to book a room. That means if you need 30,000 points to book a $250 room, the value of each point is 0.83 cents.

Like with airline miles, there are various ways to maximize your hotel points. You may get a co-branded hotel card if you favor one hotel chain or a general travel card if you want to earn rewards on hotel purchases regardless of where you stay. Alternatively, you can maximize your hotel points by keeping an eye out for various hotel offers.

Value of Hotel Points per Dollar
Hotel Rewards Program
Value per Point
Why We Geek Out

1.7 cents to 2.8 cents per point

Offers greater redemption value at high-end hotels.

0.5 cents to 0.6 cents per point

No resort fee when you use your points on reward stays.

0.5 cents to 0.7 cents per point

Its rewards program is suited for both budget-conscious
and luxury travelers.

0.7 cents to 0.9 cents per point

Has over 8,000 properties spread across 30 brands.

Some hotel loyalty programs allow you to convert hotel points to airline miles by transferring them to frequent flyer programs. These include the Marriott Bonvoy and World of Hyatt programs. That said, the number of airline miles you receive for your hotel points will depend on the hotel and its airline partner.

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You can redeem a free night at a Hilton property for a minimum of 5,000 points. However, the actual number of points required may increase depending on various factors, such as the type of property you choose and your desired travel dates.

How Many Points Does It Take to Travel?

Credit card companies often provide incentives or benefits to entice you to sign up with them. For instance, a rewards credit card can help you earn points on eligible purchases that you may convert to hotel points, airline miles or travel credits.

It’s worth noting that converting your points to miles by transferring them to a frequent flyer program can cause their value to change. That’s why it’s important to check the transfer ratio before doing this. Keep in mind that once you convert your points to miles, you usually can’t convert them back.

Value of Credit Card Points/Miles per Dollar
Credit Card Rewards Program
Approximate Value per Point
Why We Geek Out

0.5 cents per point

Cardholders can transfer their Membership Rewards points to
20 airline and hotel loyalty programs.

1 cent per point

To boost your card’s reward-earning potential even more, you
can enroll in Bank of America’s Preferred Rewards program if you
currently have an eligible Bank of America personal checking account.

1.5 cents per mile

Depending on the Capital One credit card you own, you can earn
up to 10X miles on hotels and rental car bookings and up to
5X miles on flight tickets.

2 cents per point

Chase Ultimate Rewards transfer partners include domestic and
international airlines, such as British Airways and Southwest, and
hotel chains, such as Hyatt, InterContinental Hotels Group and Marriott.

1 cent per point

Citi's transfer partners cover all three major airline alliances
(Oneworld, SkyTeam and Star Alliance), giving cardholders more
redemption options for flying.

Best Credit Cards With Travel Perks

Travel credit cards are ideal for individuals who want to earn points and redeem them for travel. These cards usually offer more freedom since they are not affiliated with a particular airline or hotel. However, they often come with annual fees.

Credit Card Points/Miles Earned per Dollar
Credit Card Name
Points Earned per Dollar Spent

1–5 points per dollar

1.5 points per dollar

2 miles per dollar

1–3 points per dollar

1–3 points per dollar

Best Co-Branded Hotel Credit Cards

When you use a co-branded hotel card, you stand to earn hotel points in a specific loyalty program when you make purchases with that credit card. Some cards can grant you elite hotel status, while others may offer free account anniversary nights.

Hotel Points Earned per Dollar
Credit Card Name
Points Earned per Dollar Spent

3–7 points per dollar

3–12 points per dollar

3–12 points per dollar

1–2 points per dollar

1–9 points per dollar

Best Co-Branded Airline Credit Cards

Co-branded airline credit cards work with a specific airline or airline partner to reward you for everyday purchases. In most cases, you earn airline miles for flights and seat upgrades. Additionally, these cards often come with benefits such as free checked bags or early boarding.

Airline Miles Earned per Dollar
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When you earn rewards with a credit card, it’s wise to spend your points as you would your cash — strategically. Loyalty programs want you to earn points and redeem them as quickly as possible. Redemptions such as merchandise and magazine subscriptions are likely not to earn you a solid value. So be sure to save your points as you would cash, and redeem your rewards for high-value travel. Brett Holzhauer, contributing expert for MoneyGeek

What Do These Values Mean?

Because airlines, hotels and credit card issuers don’t often provide their own point and mile valuations, MoneyGeek’s valuations can help you estimate how much each program’s rewards are worth. In addition, they can give you a baseline to decide whether you are getting a good deal for your redemption. That can, in turn, help you understand how and when to redeem your points or miles to get the most from your chosen loyalty program.

To determine our valuations, MoneyGeek gathered and analyzed data on various flights and hotel stays. Afterward, we divided the cost of each booking by its cost in rewards to determine the cash value of a mile/point for a given flight or hotel stay. Note that these valuations may change or fluctuate depending on the airlines’ or hotels’ policies.

Other Questions You May Have About Travel Points and Miles

Which rewards programs do not expire?
Can I transfer my hotel reward points to miles?
Can I transfer my hotel reward points to other hotel programs?
Can I convert my airline miles to cash?
Can I transfer my airline miles to other airline points?
Can I convert my regular credit card points to points/miles?
Are frequent flyer miles worth it?
Are hotel rewards points worth it?

Next Steps

More Travel Points and Miles Pages

Compare and Review Credit Cards

About Doug Milnes, CFA


Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.


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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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