Data verified: Jun 2026 · Source: The Points Guy monthly valuations, June 2026
A credit card points calculator: the same 100,000 points can be worth $600 or $2,050 depending purely on how you choose to redeem them.
Your details
Best available value
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Three ways to redeem
Your specific booking
✓That booking returns — per point, which beats the — benchmark for this program. Book it.
⚠That booking returns only — per point, below the — you would get by taking cash back. Paying cash and keeping the points is the better move.
⚠This program's valuation is less settled than the others and spans a wider range across sources. Treat the figure as indicative and check a current valuation before making a decision on it.
Value by redemption route
Route
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How this is calculated
A point has no fixed value. What it is worth depends entirely on how you redeem it, and the spread between the worst and best route is enormous — often three or four times. Cash back is usually the floor. Booking through the issuer's travel portal is a little better. Transferring to an airline or hotel partner and redeeming for premium travel is where the outsized value lives.
The valuations here are published benchmarks — informed estimates of what a competent redeemer achieves on average. They are not prices. Nobody will buy your points at these rates, and a poor redemption will not magically hit them.
The last line is the one that matters in practice. Divide what the booking would have cost in cash by the points it consumes to get the cents per point you personally achieved.
Worked example
100,000 Chase Ultimate Rewards points at the June 2026 benchmark of 2.05 cents.
Transfer-partner benchmark: 100,000 × 2.05¢$2,050
Travel portal at about 1.25¢$1,250
Cash back at 1.0¢$1,000
Difference between best and worst$1,050
Work out your own cents per point
Take the cash price of the booking you actually want, divide by the number of points it costs, and multiply by 100. That is your real rate. If it beats the benchmark, it is a good redemption. If it falls below what cash back would give you, pay cash and keep the points — a bad redemption is worse than no redemption.
Do not compare against inflated cash prices
The classic self-deception is valuing a first-class seat at its full published fare, which you would never have paid. If you would only ever have bought economy, the honest comparison is against the economy fare. Points redeemed for something you would not have bought at any price are worth what the equivalent cash trip cost you, not what the airline lists.
Points are a depreciating currency
Programs devalue without notice and without compensation. Award charts get replaced with dynamic pricing, and dynamic pricing drifts upwards. Holding a large balance for years is a bet against the issuer that you will usually lose. Earn them, use them.
Transfers are usually one-way
Once you move points to an airline or hotel partner you cannot move them back. Confirm award availability before transferring, not after — stranded points in a program you never use are a common and entirely avoidable mistake.
Frequently asked questions
Where do these valuations come from?
They are published benchmark valuations, revised roughly monthly by industry publications, estimating what a well-executed redemption typically returns. The date they were last checked is shown on this page. They are informed estimates rather than prices, and no one will buy your points at these rates.
Why is cash back worth so much less?
Because issuers price cash back at a fixed low rate, often one cent per point and sometimes less. Transfer partners let you access airline and hotel award pricing that can be worth several times that on premium cabins and high-end properties, which is where the entire value gap between redemption routes comes from.
Should I always transfer to partners?
Only when award availability actually exists at a good rate for a trip you genuinely want. Transfers cannot be reversed, so confirm availability before transferring rather than afterwards. Stranded points sitting in an airline program you never use are a common and entirely avoidable mistake that destroys their value.
What is a good cents-per-point figure?
For flexible issuer currencies, anything above about 2 cents is strong and above 3 cents is excellent. Below your own cash-back rate is a bad redemption regardless of how attractive the booking looks, because you could have taken the cash and paid for it outright with money left over.
Do points expire?
Flexible issuer points usually last while the account remains open and in good standing. Airline and hotel points often expire after a defined period of inactivity, though qualifying activity can be as small as a single transaction. Closing a card can forfeit the balance outright, so transfer or redeem before you close it.
Are points taxable?
Points earned from spending are treated as a rebate on purchases and are not taxable income. Points or cash received as a sign-up bonus without any spending requirement, or for opening a bank account, can be reportable income and may generate a 1099. The distinction is whether you had to spend to earn them.
Estimates for general information only, not financial advice. Valuations are subjective monthly benchmarks published by third parties, not market prices, and programs devalue without notice. Verify current award pricing before transferring points.