If you’ve ever wondered what your travel points are really worth, you’re not alone. Frequent flyers, casual vacationers, and savvy spenders alike often struggle to decode the true value of their loyalty programs. Thankfully, the experts at The Points Guy (TPG) break it down monthly, offering updated, data-driven valuations that help travellers make smarter redemption choices. I’ve personally followed their insights—thanks to my dear friend Nadine Rubin, who played a pivotal role in launching the iconic Shoppers Optimum program and continues to lead in the loyalty space. Here’s a look at April 2025’s most valuable rewards currencies and what they mean for your next trip.
Chase and Bilt Lead the Pack for Credit Card Rewards
According to TPG’s April valuations, Chase Ultimate Rewards and Bilt Rewards top the list, both valued at 2.05 cents per point. Chase continues to shine with its extended Lyft partnership and travel-friendly redemptions. Bilt, meanwhile, has evolved from a rent-reward startup to a full-fledged powerhouse, introducing a new payment platform that opens doors to broader spending and earning categories. American Express Membership Rewards also hold strong at 2.0 cents, underscoring the ongoing value of flexible, transferable points.
Capital One and Citi Offer Solid Redemption Power
Capital One Miles hold a respectable valuation of 1.85 cents per point. Their strength lies in multiple travel partners and a no-nonsense redemption system. Citi ThankYou Rewards follow closely at 1.8 cents, with a diverse transfer portfolio that makes it attractive for international travellers. Even Wells Fargo’s rewards program, typically under the radar, clocks in at 1.6 cents—a decent return for everyday spending.
Airline Miles—AAdvantage, Alaska, and Aeroplan Take Flight
Among airline loyalty programs, American Airlines AAdvantage leads the pack at 1.65 cents per mile. Their integration of Fiji Airways into the Oneworld Alliance and new international routes strengthen the program’s reach. Alaska Airlines Mileage Plan follows with a 1.5 cent valuation, bolstered by recent route expansions to South Korea. Canada’s own Aeroplan sees a slight dip to 1.4 cents, primarily due to increased dynamic pricing on partner flights like United—worth noting for those redeeming long-haul tickets.
British Airways and Delta Reflect Changing Strategies
British Airways, Iberia, and other Avios programs are also pegged at 1.4 cents. Recent changes to their elite status earning structure and program branding mark a shift toward revenue-based models. Delta’s SkyMiles, long known for unpredictability, hold steady at 1.2 cents, with a small win for travellers: the removal of surcharges on Europe-to-U.S. redemptions, making one-way returns more accessible.
Emirates, Etihad, and Asia-Based Airlines Offer Value for Strategic Travellers
For premium cabin lovers, Emirates and Etihad still deliver, both valued at 1.2 cents per mile. These programs excel when used for business or first-class bookings, especially on long-haul flights. Cathay Pacific’s Asia Miles and ANA (All Nippon Airways) offer a decent 1.3–1.4 cent range, particularly appealing for those exploring Asia or flying via Tokyo hubs.
TPG’s New Data-Driven Methodology Brings Greater Accuracy
What sets this April valuation apart is the methodology shift. TPG now uses thousands of real-time data points to compare cash prices versus award redemption rates for the top six U.S. airline loyalty programs. This empirical approach reflects the reality travellers face: award pricing is increasingly dynamic, and traditional “chart-based” values are less reliable. This evolution ensures travellers get more accurate insights for smarter planning.
Southwest in the Spotlight for April’s Noteworthy Changes
In March, Southwest made subtle but impactful changes to its Rapid Rewards pricing, increasing variability across routes. TPG is currently reviewing this shift and will offer revised valuations soon. For now, it’s a reminder that loyalty program terms can—and do—change frequently. Staying informed is the only way to keep ahead.
Why These Valuations Matter for the Purposeful Traveller
Whether you’re planning a luxury escape or a budget-savvy adventure, understanding the real value of your points ensures you don’t leave money—or miles—on the table. As loyalty programs evolve, transparency and data become your most powerful tools. Thanks to industry leaders like The Points Guy, travellers have access to monthly insights that help maximize every journey. And thanks to loyalty trailblazers like Nadine Rubin, who helped shape how Canadians view rewards, we’re reminded that travel isn’t just about the destination—it’s about unlocking value, one point at a time.
Since these valuations are updated monthly, it’s a great idea to keep The Points Guy bookmarked to stay on top of all things travel loyalty. From redemption strategies to program updates, they’re an invaluable resource for every type of traveller.
Every journey leaves a mark, and small choices can make a big difference. Choosing eco-friendly stays, supporting local communities, and being mindful of plastic use help preserve the beauty of the places we visit. Respecting wildlife, conserving resources, and traveling sustainably ensure future generations can experience the same wonders. By treading lightly and embracing responsible travel, we create meaningful connections and lasting memories. Here’s to adventures that inspire and footprints that honour our planet.
Safe and mindful travels!