How Much Is Each Point Worth?
Last updated: Quarter 4 2020
This page aims to provide a valuation of the major points currencies in Canada.
Valuing points currencies is a highly subjective exercise, and the value of a point in each program is constantly changing as the program itself changes. These valuations should therefore be treated as a general guideline, taking into account the general best-case usage of each program, rather than a definite representation of how much value you will get out of each point you earn.
Valuations for most programs are provided in Canadian dollars. For the programs with significant participation from US residents, I’ve included the value in US dollars as well.
I’ll be adding new valuations and updating existing ones as time goes by, so make sure to check back often.
Aeroplan is one of Canada's most versatile programs for long-haul international travel. Its advantageous stopover policies allow you to book some pretty amazing trips, like the Aeroplan Mini-RTW, that you'd never be able to pull off using cash.
Air Miles Cash Rewards are typically redeemed at a ratio of 95 Air Miles = $10, giving you a baseline value of 10.5 cents/mile.
If redeemed in the right circumstances (i.e., when the cash price of the corresponding flight is artificially high), Air Miles Dream Rewards can deliver very good value. Last-minute, short-haul domestic flights tend to work best.
Alaska Airlines Mileage Plan
2.3 cents/mile ▼
Alaska Mileage Plan features a wide array of unique airline partners, including some of the world's best premium cabins.
American Express (Canada)
Amex MR is by far the most flexible travel rewards currency in Canada. All things being equal, its optimal usage is probably through a 1:1 transfer to Aeroplan (2.1 cents/mile).
American Express (Canada)
1.4 cents/point ▲
Without the ability to transfer to airline partners, Amex MR Select is more limited in value compared to regular MR points.
Best Western Rewards
Best Western Rewards redemptions cost up to 70,000 points per night, with the pricing movements generally reflecting the nightly cash rate.
BMO Rewards can be redeemed towards the cost of travel booked through BMO's in-house travel agency at a rather perplexing ratio of 140 points = $1, thus giving you 0.7 cents/point.
British Airways Avios
With a unique distance-based award chart, British Airways Avios has a wide range of redemption sweet spots. Examples might include Toronto–Dublin on Aer Lingus or Seattle–Hawaii on Alaska Airlines.
Cathay Pacific Asia Miles
Asia Miles's very generous routing rules, reasonable award pricing for business class and First Class, and access to additional availability on Cathay Pacific's own flights make it a very strong program for Canadians travelling to Asia and points beyond.
CIBC Aventura points offer a baseline redemption option of offsetting the cost of travel booked through the CIBC in-house travel agency at 1 cent/point.
Hilton Honors does not publish an award chart, so each hotel's award price point can vary based on many factors. On balance, 0.7 cents/point is a reasonable target to aim for.
HSBC Rewards points are worth 0.5 cents/point at a minimum, since you can use them to offset any travel purchase on your card at a ratio of 2 points = $1.
Marriott Bonvoy is one of the most useful hotel loyalty programs in Canada. The value in redeeming points for hotel nights is quite variable, as there are plenty of high-value and low-value opportunities. Overall, I'd say that 1 cent/point is a reasonable target to aim for.
Unique among the Big 5 banks in Canada, RBC Avion points can be transferred to a wide range of airline partners.
Nothing fancy here: Scotia Rewards can be used to offset the cost of travel purchases charged to your card at 1 cent/point. They're useful to collect for the purpose of reducing your out-of-pocket travel expenses, but not much more.
TD Rewards can be redeemed at a value of 0.5 cents/point via the ExpediaforTD online portal towards flights, hotels, car rentals, vacations, etc. If you don't go through ExpediaforTD, the value is lower at 0.4 cents/point.
WestJet is unique in using "Dollars" as their rewards currency: 1 WestJet Dollar can be redeemed towards the cost of $1 off a WestJet flight.