At Points & Miles Calculator, we believe that points and miles do not have a single, fixed cash value. Their value depends entirely on how you redeem them. However, to provide a useful benchmark for travelers, we publish estimated baseline valuations.
Here is how we determine those numbers.
Put our methodology into practice with our free calculators:
We aggregate and review valuations published by major US and international travel media outlets, such as The Points Guy (TPG) and One Mile at a Time (OMAAT). These platforms conduct extensive, ongoing research into the purchasing power of various currencies. By averaging and referencing their established baselines, we ensure our figures represent a broad industry consensus rather than a single subjective opinion.
When evaluating a loyalty program, we look for the most common, accessible redemption patterns rather than extreme edge cases.
Transferable credit card currencies (like Chase Ultimate Rewards and Amex Membership Rewards) receive a premium valuation. The ability to transfer points to multiple different airlines and hotels protects you against sudden devaluations in any single program. Conversely, airline miles and hotel points are valued lower because they are locked into a single ecosystem.
Programs that impose high fuel surcharges (such as British Airways Avios) are penalized in their overall valuation, as these cash co-pays directly erode the value of the miles.
For the Chinese version of our site, we use the original US Cent valuations and convert them to Chinese Yuan (CNY) using a generalized exchange rate (e.g., 1 USD ≈ 7.00 CNY). These conversions are approximations meant to give local users an intuitive sense of value and do not reflect daily currency market fluctuations.
Points and miles have no legal cash value. The valuations provided on this site are editorial estimates intended solely to help you compare different redemption options. Your actual Cents Per Point (CPP) will vary for every single booking. Always run your own math using our calculators before making a final decision.