How much are points worth?
How much are points worth?
⏳ Last updated: June 26, 2023
Welcome to your go-to guide for deciphering the complex world of credit card and rewards points in Canada! If you’ve ever wondered “What’s the real value of my points?” you’ve come to the right place. We’re all about simplifying this often-bewildering landscape and helping you understand your points’ worth in tangible Canadian dollars.
We’ve decoded various points programs for you, providing easy-to-understand conversions from seemingly abstract points into real-world currency. However, while we strive for accuracy, our evaluations should be seen as best estimates rather than absolute truths. The exciting (and sometimes daunting) world of points programs is ever-evolving, with values fluctuating as programs change and grow.
Keeping up with this dynamic landscape might seem like a Herculean task, but that’s where we come in. We’re constantly on the pulse of changes in the points programs, and we update this page regularly to ensure the information stays current and useful for you.
So, get ready to navigate the rewarding maze of points programs with ease. And remember, whether you’re a seasoned points collector or just getting started, understanding the value of your points can help you get the most out of your rewards.
Stay tuned and explore the exciting world of credit card and rewards points valuations, right here, right now.
Aeroplan
💵 2.1¢/point
Aeroplan stands out as one of the most flexible programs for long-distance international journeys in Canada.
Its generous stopover rules enable you to plan some remarkable trips that would be hard to achieve with just cash.
With its continuously expanding list of partner airlines, you get the chance to experience some of the industry’s top-notch offerings like ANA First Class, Emirates First Class, Etihad Airways First Class, Lufthansa First Class, and more. It’s not unusual to see value of over 10 cents per point when points are used for travel in high-end cabins.
While getting good value from domestic redemptions might be a bit trickier, aiming for a value of 1.5-2 cents per point is still quite achievable.
Air Miles
💵 10.5¢/mile
Air Miles Cash Rewards are usually exchanged at a rate of 95 Air Miles for $10, thus establishing a fundamental value of 10.5 cents per mile. From time to time, promotions may increase the redemption value of Cash Rewards.
Alternatively, you can choose to accumulate Dream Rewards, which can be used for global flights and in any service class. However, the value is not always competitive and seldom surpasses 11.5 cents per mile.
AmeX Membership Rewards
💵 2.2¢/point
American Express Membership Rewards (AMEX MR) stands out as the most adaptable travel rewards currency in Canada. Ideally, its best use is likely via a 1:1 transfer to Aeroplan, equating to 2.1 cents per point.
The program’s overall versatility, encompassing other airline and hotel partners, Amex Fixed Points Travel, among others, adds an additional value push, bringing it up to 2.2 cents per point.
BMO Rewards
💵 0.67¢/point
BMO Rewards can be used for travel booked via BMO’s own travel agency or transferred into a BMO investment account, with an exchange ratio of 150 points to $1, resulting in a value of 0.67 cents per point. This value can also be applied to any travel purchase made with the card.
Other options for redeeming BMO Rewards, such as exchanging them for gift cards or merchandise, generally offer less value and are therefore less attractive.
CIBC Aventura
💵 1.25¢/point
CIBC Aventura points primarily offer a standard redemption option, allowing you to cover travel costs booked through CIBC’s in-house travel agency at a rate of 1 cent per point.
The fixed-value travel schedule provides some additional value to the program, enabling you to obtain up to 2.2 cents per point on certain redemptions.
Also, there’s a unique promotion running through July 16, 2023, where cardholders can redeem points against any travel purchase at twice the standard rate – 1.25 cents per point rather than the usual 0.625 cents per point.
HSBC Rewards
💵 0.8¢/point
HSBC Rewards points carry a base value of 0.5 cents per point, as you can apply them against any travel expense on your card with a conversion rate of 200 points to $1.
Moreover, the option to transfer HSBC Rewards points to Cathay Pacific Asia Miles, Singapore Airlines KrisFlyer, or British Airways Avios, enhances the value of the program.
National Bank À la carte rewards
💵 1¢/point
National Bank’s proprietary loyalty program, À la carte Rewards, provides the best value when redeemed through the program’s online travel portal, yielding a value of 1 cent per point for travel reservations.
If you prefer to book directly with service providers, you can still use À la carte Rewards for a statement credit, though at a lesser value. Redeeming under 55,000 points will give you a value of 0.83 cents per point, while redeeming over 55,000 points increases the value to 0.91 cents per point.
RBC Avion
💵 2¢/point
RBC Avion points stand out among the Big 5 banks in Canada due to their flexibility to be transferred to a diverse array of airline partners.
Typically, the best use of these points is likely the conversion to British Airways Avios or Cathay Pacific Asia Miles at a 1:1 ratio. However, the value of RBC Avion is significantly enhanced by frequent conversion bonuses. Additionally, the option to redeem points using the RBC Travel Redemption Chart could offer up to 2 cents per point in value, further boosting the program’s overall worth.
Scotiabank Scene+
💵 1¢/point
Straightforward and simple, Scene+ points can be applied to cover the cost of travel expenses charged to your card, providing a value of 1 cent per point. They come in handy for cutting down your out-of-pocket travel costs, but don’t offer much beyond that.
TD Rewards
💵 0.5¢/point
TD Rewards can be used with a value of 0.5 cents per point through the Expedia for TD online portal for things like flights, hotel bookings, car rentals, and vacations. If you opt not to use Expedia for TD, the value drops to 0.4 cents per point.
Much like the points from the other Big 5 banks (with the exception of RBC Avion), their value is somewhat restricted.
Westjet Rewards
💵 1.02¢/point
WestJet Rewards stands out with its use of “Dollars” as their rewards currency: 1 WestJet Dollar equates to $1 off on a WestJet flight.
Furthermore, WestJet’s Member Exclusive fares provide slight reductions on the cost of a WestJet flight when you book using WestJet Dollars. Thus, the valuation is slightly above the standard.
Disclaimer
Here, we offer rough values for various points currencies in Canada and worldwide. Keep in mind these figures are fluid and serve as a general guide, not a promise. We update our Points Valuations quarterly, so check back often
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