What are your credit card points and miles worth?

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Credit Karma’s point valuations measure how much your credit card rewards could be worth.

It pays to think of your rewards like a currency. Just as the U.S. dollar is worth a different amount than the British pound or Mexican peso, each rewards program has its own unique value. And just as the values of those currencies can fluctuate, so can the values of points and miles.

Our credit card experts track these programs and crunch the numbers to estimate point values for some of the most popular airline, hotel and flexible rewards programs. Read on to see what we found in our latest assessment conducted in 2024.

• How our points and miles values work
• Airline rewards program values
• Hotel rewards program values
• Flexible rewards program values
• How to use our points and miles values

How our points and miles values work

Credit Karma’s points and miles values estimate how much each program currency is worth when redeemed for travel. We compare the dollar cost of specific airline and hotel bookings to those same bookings’ cost in points or miles to arrive at our values for each program. Our values our based on real travel bookings, not a general opinion of what represents good value for a program.

We have also formulated our values to meet the needs of both seasoned credit-card optimizers and those who might be new to maximizing the value of their points. While our airline and hotel values are based on real bookings only, we developed two different methodologies — one for travel rewards newcomers and one for experts — for valuing the rewards of flexible programs that allow you to transfer your points to partner airlines and hotels. 

Below, you can find our values for airlines, hotels and flexible programs, along with more notes on how to assess the values for these different kinds of programs.

Airline rewards program values

To calculate the value of these frequent-flyer points and miles, we compared the cost in dollars to the rewards required to book a one-way flight across a sample of that airline’s common routes.

When selecting flights, we avoid outliers like the most expensive or cheapest fares. Instead, we try to find a middle ground with a fare that roughly represents the most typical cost within our chosen time frame. Our selections can include both domestic and international flights, depending on our judgment of common routes for that airline.

To calculate the value of hotel rewards, we compared the cost in dollars to the rewards required to book a one-night stay (or the minimum stay required).

When selecting stays, we avoid outliers like luxury rooms or dates surrounding in-demand events in that location. Our selections can include both domestic and international locations, depending on our judgment of common bookings with that hotel.

Flexible rewards programs allow you to redeem your points either through various methods offered by the card issuer or by moving your points to a travel transfer partner. Seasoned points optimizers typically prefer earning their rewards in these programs because transfer partners allow for a flexibility not seen in specific airline or hotel programs.

These estimated point values incorporate the value you can get from both in-program redemptions and by transferring your points.

For in-program value, we use the value you get from redeeming your points for travel in that program’s dedicated travel portal. These values are determined by the card issuer.

Our estimated standard value is built for travelers who are interested in maximizing their travel rewards value, but who may not yet be fully comfortable navigating transfer partners and other next-level offers from these programs. For the standard value, we balance the value of in-program travel redemptions with that program’s transfer partner values. This mix communicates both the floor of a flexible program’s value and some of the potential offered by their transfer partners.

Our estimated optimizer value caters to more experienced cardholders who prize program flexibility and commit themselves to finding the best value when redeeming points. For this value, we take the program’s transfer partner values and apply a bonus based on the overall flexibility offered by that program. The more transfer partners a program has, the greater the boost.

You’ll also find that we sometimes list different values for credit cards within the same rewards program. Some card issuers offer different in-program travel redemption rates for different cards. For instance, Chase Sapphire Preferred® Card gives cardholders a 1.25-cent value when points are redeemed in the Chase Travel portal, and Chase Sapphire Reserve® gives a 1.5-cent value for the same redemptions.

These elevated rates affect our analysis in several ways. For our standard value, we believe a higher rate raises the rewards floor for that program and makes them more attractive to cardholders who don’t want to put in as much effort to get value from their points. For our optimizer value, we believe the higher rate influences a cardholder’s consideration of what represents good value for a redemption.

How to use our points and miles values

Our point values are ultimately meant to serve as benchmarks for your own redemptions rather than as exact representations of program value.

Depending on the flights and hotel stays you choose to book, you might find that you get a point value far greater than our estimated values, or even something closer to the in-program redemption rate. Think of our values as a starting point, not a figure you must meet every time you redeem. 

When assessing your own redemption options, divide the price you would pay in dollars by the number of points or miles required to redeem. That number will be your point value for that specific redemption. If it’s in the ballpark of our figure, you’re probably getting a good deal. Even if it’s lower, it might still be worth using your points to save money on a trip you really want to take.