The receipts: every point, valued at the floor

We calculate with a conservative baseline and publish a higher achievable estimate separately. Here we explain the gap between our two values. Every figure below is our own, published and dated.

programs valued at our planning baseline

27%

average baseline shortfall versus our achievable estimate

other publishers' values included in this comparison

1The gap, in one line

Across the programs we track, our conservative baseline averages 27% below our higher achievable estimate. The widest gap is for Chase Ultimate Rewards at 50% below our achievable estimate. For 100,000 of those points, our two values differ by $1,000. Actual redemption values vary.

The full per-program table: floor, best case, gap and dollar cost for each program, with the method and how to cite it: is the points-valuation hype-gap study. Below is the part that lives here: why each floor is where it is, and the rules we hold ourselves to.

2The basis and limits of each baseline

Read the recorded rationale behind each planning baseline. These notes explain the assumptions; they do not establish current prices or availability. For the operating rules, see how we stay honest.

Chase Ultimate Rewards1¢⌄

We use 1c for cash or standard Chase Travel redemptions. Points Boost applies to selected bookings; legacy portal values depend on the card and eligible points. Neither is assumed here. 2c is an editorial transfer target, not a guaranteed rate. Chase baseline and transfer terms checked September 7, 2026; other valuations were not re-reviewed.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

Amex Membership Rewards1.1¢⌄

Membership Rewards shine on transfers (ANA, Air France/KLM, Virgin). Portal value is mediocre, so beginners often under-realize these. Watch the fine print: Etihad Guest transfers are being discontinued (permanent, effective June 30, 2026), and Cathay/Emirates moved to a worse 5:4 ratio. Frequent transfer bonuses (often 20-30%) are the real edge.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

Bilt Rewards1.1¢⌄

Unique value is earning points on rent with no fee. Transfer partners are solid (Hyatt, United, Atmos/Alaska). Note American AAdvantage dropped as a Bilt partner in June 2024 (reach AA only via oneworld partners like British Airways or Cathay now).Source date 2026-06-08. Check current program terms and live availability before using this estimate.

Citi ThankYou Points1¢⌄

ThankYou points are underrated for transfers but the everyday floor is modest. Full 1:1 ratios require a premium card (Strata Elite/Premier or legacy Prestige); non-premium cards transfer at a reduced ~1:0.7, so check your card before assuming 1:1.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

Capital One miles1¢⌄

Simplest program: 1c as a straight travel eraser, no thinking required. Transfers can beat that but partners are weaker than Chase/Amex (Sept 2025 added JAL, Qatar, I Prefer; JAL/EVA/Emirates transfer at a poor ~2:1.5). Frequent transfer bonuses help close the gap.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

Wells Fargo Rewards1¢⌄

Newer transfer program, still maturing but growing (added Cathay Pacific in April 2026). Airlines transfer 1:1. Treat 1c as the safe floor.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

World of Hyatt1.7¢⌄

World of Hyatt is still the rare hotel program worth chasing: a published award chart means 1.7-2.3c is realistic, among the strongest per-point hotel values of the programs we track. The May 2026 chart replaced the old 3 tiers (off-peak/standard/peak) with 5 (Lowest/Low/Moderate/Upper/Top) and pushed many properties higher (Top Cat 8 now up to 75k/night), so target the Lowest-tier rates to hold value. We set a conservative baseline of 1.7c and an achievable estimate of 2.3c.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

Atmos Rewards (Alaska)1.4¢⌄

Alaska Mileage Plan rebranded to Atmos Rewards after the Hawaiian merger (miles are now 'points', moved 1:1, HawaiianMiles folded in Oct 2025). Still strong partner awards and stopovers, so a motivated booker does well. 1.4c is the honest everyday floor.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

Hilton Honors0.4¢⌄

Hilton Honors points are plentiful but worth little each. We set a conservative baseline of 0.4c and an achievable estimate of 0.5c. The card math depends on using the free nights and status.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

American AAdvantage1.3¢⌄

AAdvantage still publishes partner saver awards, so motivated bookers beat the floor. Everyday value sits around 1.3c.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

Marriott Bonvoy0.7¢⌄

Marriott Bonvoy points run ~0.7c. The honest value is free-night certificates used near their cap, not raw point redemptions.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

IHG One Rewards0.5¢⌄

IHG One Rewards points are plentiful and cheap (~0.5c). Value comes from the fourth-night-free perk and anniversary nights, not the points themselves.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

Delta SkyMiles1.1¢⌄

Delta SkyMiles are reliable but among the weakest airline currencies: fully dynamic, often near 1.1-1.3c. Treat 'SkyPesos' jokes as a warning, not points to hoard.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

JetBlue TrueBlue1.1¢⌄

JetBlue TrueBlue points are revenue-based (~1.1-1.3c), no award chart, few partners. Value is predictable but capped: don't stockpile them.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

United MileagePlus1.3¢⌄

United MileagePlus is dynamically priced with no award chart, so value swings. 1.3c is a fair everyday floor; Star Alliance partner awards reach a bit higher.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

Southwest Rapid Rewards1.3¢⌄

Southwest Rapid Rewards are pegged to cash fares (~1.3-1.4c), so there's little upside but also no devaluation surprise. Companion Pass is the real prize, not per-point value.Source date 2026-06-08. Check current program terms and live availability before using this estimate.

How we stay honest: operating rules and current card status

3The rules behind these receipts

What we always do

Bill every point at the conservative floor, everywhere.
Publish our baseline, achievable estimate, and Source date.
Check current program terms before using a baseline. Terms can change between source updates.

What we never do

Lead with the “up to” max value → that number sells cards; it doesn't reflect your wallet.
Reprint a competitor's valuation table → we won't put numbers in their mouth or pretend to keep theirs current. The gap above is measured with our own figures.

4Common questions

Why might your point valuations differ from other publishers?

Different valuations use different assumptions. We calculate with a conservative baseline and publish a higher achievable estimate separately. Check the award you can actually book before deciding whether a redemption is worth it.

Do you reprint other sites' valuation tables?

No. We compare our own conservative baseline with our own higher achievable estimate. This is a comparison within our model, not a measurement of another publisher's numbers.

What does the '100,000 points' figure mean?

It is the dollar difference between valuing 100,000 points at our achievable estimate and valuing them at our conservative baseline. It is a planning comparison, not a measured loss or a competitor comparison.

Is the 'best case' number fake?

No. Our achievable figure estimates a strong redemption a motivated traveler may find through transfer partners. Availability and value vary. We use the conservative baseline for planning calculations.

Valuations: Source date 2026-06-08. See the full methodology for how each floor is set, or the citable hype-gap study.