By admin 
One of the questions people often ask us is, “How much is a point or mile worth?”
The true answer varies from point to point and person to person. It also depends on your travel goals and how much you maximize a particular loyalty currency. Still, some credit card rewards are worth more than others, and our goal is to give you a sense of how they stack up.
Highest-ever offer: Chase Sapphire Preferred® Card — Earn 100,000 bonus points after spending $5,000 in the first three months from account opening (see rates and fees).
Historically, TPG has valued points and miles based on a combination of factors: the price at which we would purchase the points or miles, award costs in the program (factoring in availability and fees) and our expertise in the program’s inner workings. However, we now use extensive data for the top six U.S. airline loyalty programs to better estimate the value you should aim to get from your rewards. Read our explainer post on our data-driven valuations for a full methodology breakdown.
What are credit card points and miles worth?
| Program | April 2025 valuation (cents) | Latest news |
|---|---|---|
| American Express Membership Rewards | 2.0 | |
| Bilt Rewards | 2.05 | Bilt’s new payment platform will pave the way for new reward categories. |
| Capital One | 1.85 | |
| Chase Ultimate Rewards | 2.05 | Chase extended its Lyft partnership with decreased earning rates for some cards. |
| Citi ThankYou Rewards | 1.8 | |
| Wells Fargo Rewards | 1.6 |
What are airline points and miles worth?
*Calculated using TPG’s data-backed valuations methodology launched in September 2023.
What are hotel points worth?
News highlight of the month
March was dominated by a slew of (mostly negative) changes announced by Southwest Airlines. Of most note to points and miles enthusiasts was Southwest’s adjusting of its Rapid Rewards dynamic pricing toward the end of last month to make the rates even more variable. Our data team is busy crunching how many routes have increased or decreased in price because of this change, and we will have a full report and updated data-backed valuation soon.
In much happier news, we are celebrating one of our favorite travel rewards cards, the Chase Sapphire Preferred® Card (see rates and fees), launching its highest-ever welcome offer. For a limited time, you can earn 100,000 bonus Ultimate Rewards points after spending $5,000 in the first three months from account opening. In this month’s valuations, we value that bonus at an incredible $2,050, an astonishing offer for a card with a modest $95 annual fee.
The card also offers a $50 annual hotel credit for reservations made through Chase Travel℠ and a 10% anniversary points bonus based on your previous year’s spending.
There are many ways to redeem Ultimate Rewards points for amazing value, whether it’s the simplicity of redeeming through the Chase Travel portal or transferring to Ultimate Rewards partners at a 1:1 ratio. At TPG, we love transferring our Ultimate Rewards points to World of Hyatt, Air Canada Aeroplan and Air France-KLM Flying Blue.
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Whether you want to fly first class to Europe, enjoy all-inclusive accommodation in Mexico or take the family to Hawaii, you’ll find plenty of ways to redeem 100,000 Chase points. This is the highest welcome offer we’ve ever seen on this card, so it’s the perfect time to consider adding it to your wallet. For more details, check out our Chase Sapphire Preferred Card review.
Official application link: Chase Sapphire Preferred Card
Here are some of the best other options if you’re looking for a new travel rewards card that earns transferable points or miles.
Capital One Venture X Rewards Credit Card
The Capital One Venture X Rewards Credit Card is a compelling option due to its great earning rates and included perks. The card currently has a welcome offer of 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening.
You’ll earn at least 2 miles per dollar spent on purchases and get access to a variety of useful benefits, including a $300 annual credit for bookings through Capital One Travel, 10,000 bonus miles each account anniversary and complimentary access to Capital One airport lounges for you and up to two guests per visit. Check out our Capital One Venture X card review for more details.
Learn more: Capital One Venture X Rewards Credit Card
Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card has a limited-time welcome offer of 75,000 bonus miles when you spend $4,000 on purchases within the first three months from account opening, plus a $250 Capital One Travel credit to use in your first cardholder year.
The annual fee for the Capital One Venture card is $95 — a reasonable amount for a card with such a generous welcome offer. See our Capital One Venture card review for more details.
Learn more: Capital One Venture Rewards Credit Card
The Platinum Card from American Express
With the current welcome offer on The Platinum Card® from American Express, you’ll earn 80,000 Membership Rewards points after you spend $8,000 on purchases in the first six months of card membership. However, you may be targeted for a higher offer through the CardMatch tool. (This offer is subject to change at any time.)
Our valuations peg 80,000 Membership Rewards points at $1,600 based on the value you can get when leveraging the Membership Rewards transfer partners. The Amex Platinum is packed with benefits, so read our Amex Platinum review for all the details. The Amex Platinum has a $695 annual fee (see rates and fees).
Official application link: The Platinum Card from American Express
American Express Gold Card
One of the most popular cards with TPG staffers, the American Express® Gold Card offers new cardholders the ability to earn 60,000 bonus points after spending $6,000 on purchases in the first six months of card membership. Based on our valuations, this welcome offer is worth $1,200. Check the CardMatch tool to see if you’re targeted for an even higher offer. (This offer is subject to change at any time.)
The Amex Gold is great for many everyday purchases. You’ll earn 4 points per dollar spent on groceries at U.S. supermarkets (on up to $25,000 in purchases per calendar year, then 1 point per dollar) and 4 points per dollar spent at restaurants worldwide (on up to $50,000 in purchases per calendar year, then 1 point per dollar). The card has a $325 annual fee (see rates and fees), so check out our Amex Gold review to see whether it makes sense for you.
Official application link: American Express Gold Card
The Business Platinum Card from American Express
The Business Platinum Card® from American Express offers new cardholders the opportunity to earn 150,000 Membership Rewards points after they spend $20,000 on eligible purchases with their card in the first three months of membership. Plus, earn a $500 statement credit after spending $2,500 on qualifying flights booked directly with airlines or through American Express Travel in the first three months of card membership. You can earn one or both of these offers. Offer ends June 30. Per our valuations, this welcome offer is worth up to $3,500, including the statement credit.
You’ll find many lesser-known Amex Business Platinum perks similar to (but slightly different from) those of the personal version. For more details, check out our Amex Business Platinum review. Then, check out our comparison of the Amex Platinum and the Business Platinum to see which card better fits your wallet.
Official application link: The Business Platinum Card from American Express
Ink Business Preferred Credit Card
The Ink Business Preferred® Credit Card (see rates and fees) has a welcome offer of 90,000 bonus points after you spend $8,000 on purchases in the first three months from card opening. Based on our current valuation of Chase Ultimate Rewards points, this welcome bonus is worth $1,845.
The Ink Business Preferred can be a great option for business owners who want to benefit from a generous welcome bonus but might not meet the higher spending requirements of other cards. Business owners may also appreciate that the Ink Business Preferred offers 3 points per dollar on the first $150,000 in combined travel, shipping and advertising (i.e., with social media sites and search engines) purchases and internet, cable and phone services each account anniversary year. For more details, check out our Ink Business Preferred Credit Card review.
Official application link: Ink Business Preferred Credit Card
For rates and fees of the Amex Platinum, click here.
For rates and fees of the Amex Gold, click here.