The Lingo
New to the world of points and miles? Here's a glossary of common terms you'll encounter.
A
Aeroplan – Air Canada's loyalty program and Canada's most versatile frequent flyer currency. Earnable through Amex, TD, and CIBC credit cards.
Alliance – A partnership of airlines that coordinate schedules, share lounges, and allow cross-redemption of miles. The three major alliances are Star Alliance, oneworld, and SkyTeam.
Award Availability – The number of seats an airline makes available for points/miles redemptions on a given flight. Limited availability is the main challenge in booking award flights.
Award Chart – A pricing table showing how many points/miles are required for flights between different regions. Some programs (like Aeroplan) use distance-based charts; others use zone-based or dynamic pricing.
B
Booking Class – A letter code that identifies the fare type and cabin. "J" typically means business class, "F" means first class, "Y" means economy.
C
Cents Per Point (cpp) – A measure of redemption value. If you redeem 50,000 points for a $1,000 flight, that's 2.0 cpp. Higher is better.
Co-branded Card – A credit card affiliated with a specific airline or hotel (e.g., TD Aeroplan Visa Infinite). Points earn directly into that program.
D
Dynamic Pricing – Award pricing that fluctuates based on demand, similar to cash fares. Programs like Delta SkyMiles and United MileagePlus use this model. Generally less favourable for travellers than fixed award charts.
E
Elite Status – Tiered membership levels in loyalty programs earned through qualifying activity (flights, nights, spending). Benefits include upgrades, lounge access, and bonus earning.
F
First-Year Value (FYV) – The total value of a credit card in its first year, accounting for welcome bonus, earning on regular spending, credits, and fees. Used to compare cards objectively.
Fuel Surcharges – Additional fees some airlines charge on award tickets, beyond the standard taxes. Can range from $0 (Aeroplan on partners) to $1,000+ (British Airways on own metal).
J
J Class – Industry shorthand for business class, derived from the booking class code.
L
Lounge Access – Entry to airport lounges, typically included with premium credit cards (e.g., Priority Pass, Maple Leaf Lounge access) or elite status. Includes food, drinks, Wi-Fi, and quiet seating.
M
MR (Membership Rewards) – Amex's transferable points currency in Canada. Transferable to Aeroplan, British Airways, Marriott, Hilton, and other partners at various ratios.
O
oneworld – An airline alliance including British Airways, Cathay Pacific, Japan Airlines, Qantas, and American Airlines.
P
Points Transfer – Moving points from a credit card program (like Amex MR) to an airline or hotel loyalty program. Transfer ratios vary – 1:1 is ideal.
Priority Pass – A lounge network with 1,400+ locations worldwide, typically included with premium travel credit cards.
R
Revenue-Based – Programs where points are earned and redeemed based on the dollar value of purchases/bookings rather than fixed charts. WestJet Rewards and Scene+ are examples.
S
SkyTeam – An airline alliance including Air France, KLM, Delta, Korean Air, and others.
Star Alliance – The largest airline alliance, including Air Canada, United, ANA, Singapore Airlines, Lufthansa, and others.
Stopover – A break in your itinerary of 24+ hours at a connecting city. Aeroplan allows one free stopover on round-trip awards – a powerful feature for visiting two destinations on one booking.
Sweet Spot – A redemption that offers exceptionally good value relative to the cash price. Often involves finding the right program for a specific route.
T
Transferable Currency – A points currency (like Amex MR or RBC Avion) that can be moved to multiple airline and hotel partners, providing flexibility in how you use your points.
W
Welcome Bonus – The points or miles offered when you sign up for a new credit card and meet the minimum spending requirement. The single biggest source of points for most travellers.
Missing a term? Ask Prince of Travel – it knows the lingo too.