Points valuations tell you what each point or mile is worth in cents, so you can compare redemptions across programs and decide when to redeem versus hold. These are not aspirational ceilings — they are realistic ranges based on redemptions that normal people can actually book.
The formula: CPP = (cash price in cents) / (points used). A $500 hotel room booked for 25,000 points = 2.0 cpp. A $200 flight booked for 20,000 miles = 1.0 cpp.
Transferable Credit Card Currencies
Chase Ultimate Rewards: 1.5-2.5 cpp (realistic) | 2.05 cpp (TPG average)
Floor: 1.0 cpp as cash back, 1.25 cpp via portal (Preferred), 1.5 cpp via portal (Reserve). Ceiling: 10-20+ cpp via Virgin Atlantic to ANA First. Realistic sweet spot: 1.8-2.5 cpp via Hyatt transfers. Chase UR is the most versatile currency because Hyatt consistently delivers 1.8+ cpp with no effort.
Amex Membership Rewards: 1.5-2.5 cpp (realistic) | 2.0 cpp (TPG average)
Floor: 0.6 cpp as statement credit, 1.0 cpp via Amex Travel portal. Ceiling: 10-20+ cpp via ANA First. Realistic sweet spot: 1.5-3.0 cpp via Avianca LifeMiles, Flying Blue Promo Rewards, or Virgin Atlantic. Amex MR runs the most frequent transfer bonuses, which boost effective value by 15-40%.
Capital One Miles: 1.5-2.0 cpp (realistic) | 1.85 cpp (TPG average)
Floor: 1.0 cpp as travel eraser. Ceiling: 10-20+ cpp via premium cabin transfers. Note: some partners transfer at reduced ratios (Emirates 2:1.5, EVA Air 2:1.5, JAL 2:1.5, JetBlue 5:3). Stick to 1:1 partners for best value.
Citi ThankYou Points: 1.5-2.0 cpp (realistic) | 1.8 cpp (TPG average)
Floor: 0.8 cpp via Shop with Points. The unique value: American Airlines at 1:1 (only transferable program with AA) and Choice Hotels at 1:2 (double your points). The Choice transfer to Japan hotels is one of the best-kept secrets in the hobby — 6,000 TYP = 12,000 Choice points = a $200+ hotel night.
Bilt Rewards: 1.5-2.5 cpp (realistic) | 2.2 cpp (TPG average — highest rated)
Floor: 1.0 cpp toward rent. Ceiling: 10-20+ cpp via premium transfers. Bilt earns the highest TPG valuation because points cost nothing extra (earned on rent) and the transfer partner list is exceptionally strong with exclusive Alaska Atmos access. Rent Day bonuses (100-150% for Platinum tier) can push effective value even higher.
Airline Miles
United MileagePlus: 1.2-1.8 cpp
Dynamic pricing keeps domestic redemptions around 1.2-1.4 cpp. International business class (Polaris, partners) pushes to 1.5-2.5 cpp. Excursionist Perk adds a free stopover on multi-city itineraries.
Delta SkyMiles: 1.0-1.5 cpp
Fully dynamic, highly variable. Domestic economy averages 1.1-1.3 cpp. Never use SkyMiles for Delta One transatlantic — book through Virgin Atlantic instead (50K vs 200K+ SkyMiles for the same seat). TakeOff 15 benefit gives cardholders 15% off.
American AAdvantage: 1.3-1.8 cpp
Fixed partner chart is where value lives. Qatar Qsuites at 70K one-way, JAL First at 80K, JAL Business at 60K. Dynamic pricing on AA's own flights is less favorable. No fuel surcharges on AA, Qatar, JAL, Cathay, or Qantas bookings.
Southwest Rapid Rewards: 1.3-1.5 cpp
Revenue-based with a fixed cpp range on Wanna Get Away fares (1.4-1.5 cpp). Companion Pass doubles the effective value if you have it. Hawaii routes at 8,500 points one-way are strong.
Alaska Mileage Plan (Atmos): 1.5-2.5 cpp
Fixed distance-based partner charts with no fuel surcharges. Cathay First US-HKG at 70K, JAL First at 70K, Emirates First at 100K, Qantas Business to Australia at 55K. Free stopovers on one-way partner awards. Only accessible via Bilt transfers — no Chase, Amex, Cap One, or Citi access.
Hotel Points
World of Hyatt: 1.7-1.8 cpp
The most valuable hotel currency by far. All-inclusive resorts at 3-5+ cpp. Park Hyatts consistently deliver 1.5-2.5 cpp. The May 2026 chart expansion to 5 tiers will push top-end Cat 8 to 75K, slightly lowering average value at the top, but mid-tier remains excellent.
Marriott Bonvoy: 0.7-0.8 cpp
Dynamic pricing keeps most redemptions mediocre. Best value at luxury properties during peak season (St. Regis, Ritz-Carlton) and with 5th night free. Transfer bonuses from Chase (historically 40-70%) can boost effective value.
Hilton Honors: 0.4-0.6 cpp
Lowest per-point value but easiest to earn in bulk. Amex MR transfers at 1:2 (effectively 0.8-1.2 cpp of MR value). 5th night free on standard awards. The Aspire card's uncapped free night certificate is the best single hotel card benefit.
IHG One Rewards: 0.5-0.7 cpp
Dynamic pricing, most properties 10K-100K range. The 4th night free (IHG Premier card benefit) is better than Marriott/Hilton's 5th night free — a 25% discount vs 20%. Never transfer Chase UR to IHG at 1:1 — destroys value.
When to Redeem vs. Hold
Redeem when your CPP exceeds the baseline for that currency. For Chase UR, that baseline is 1.5 cpp (what you get through the portal with the Sapphire Preferred). For Hyatt, anything above 1.5 cpp is fine. For Marriott, look for 0.9+ cpp.
Hold when you do not have a specific trip planned, when the redemption CPP is below baseline, or when a devaluation is not imminent. Points generally lose value over time as programs devalue, so do not hoard indefinitely — but do not waste them on sub-par redemptions either.
The golden rule: the best redemption is the one you actually use. A 1.5 cpp Hyatt stay that you enjoy is better than holding out for a 5 cpp unicorn booking that never materializes.