What Are Your Points and Miles Actually Worth?
Why a point is not a point
The single biggest mistake in rewards is comparing currencies by their number. A 60,000-point welcome bonus sounds the same everywhere, but it is not: 60,000 Hilton points are worth about $330, 60,000 World of Hyatt points around $1,000, and 60,000 Chase or Amex points roughly $1,200 when transferred well. Same headline, three to four times the value. Knowing what each currency is actually worth is what separates a great bonus from a mediocre one. These figures are typical estimates from industry valuations and real redemptions; actual value depends entirely on how you redeem. See current industry valuations.
What every major currency is worth
| Points currency | Typical value | What it is good for |
|---|---|---|
| Bilt Rewards | ~2.1 cents | Earns on rent; transfers to top airlines and Hyatt |
| Chase Ultimate Rewards | ~2.0 cents | Hyatt and strong airline partners; the best all-rounder |
| Amex Membership Rewards | ~2.0 cents | The widest transfer network |
| Citi ThankYou | ~1.9 cents | Cheap Star Alliance via Turkish |
| Capital One Miles | ~1.85 cents | Simple, with a growing partner list |
| Wells Fargo Rewards | ~1.7 cents | Smaller but solid transfer network |
| World of Hyatt | ~1.7 cents | By far the most valuable hotel points |
| Marriott Bonvoy | ~0.8 cents | Needs volume; fifth night free helps |
| Wyndham Rewards | ~0.7 cents | Flat 7,500 to 30,000 point nights |
| IHG One Rewards | ~0.6 cents | Fourth reward night free stretches it |
| Choice Privileges | ~0.6 cents | Cheap European redemptions |
| Hilton Honors | ~0.55 cents | Earns fast, but you need huge balances |
Read this top to bottom and the pattern is clear: flexible bank points and Hyatt are worth roughly two to four times what the weaker hotel currencies are. Hilton, IHG, Wyndham, and Choice points are not bad, they just take a lot more of them to equal a night, which is why their welcome bonuses come with such big numbers.
The flexible bank currencies win
The most valuable everyday currencies are the transferable bank points, Bilt, Chase, Amex, Citi, Capital One, and Wells Fargo, because you can move them to whichever airline or hotel partner gives the best deal. That optionality is what pushes them toward 2 cents: you only ever transfer when the math beats cash. If you are choosing one ecosystem to build, a flexible bank currency is almost always the right backbone. See transferable points explained and which cards transfer to hotels.
Hyatt is the hotel king; the rest need volume
Among hotel programs the gap is huge. World of Hyatt, with its published chart, is worth roughly 1.7 cents and routinely delivers outsized value, even after its 2026 devaluation. Marriott sits near 0.8 cents, and Hilton, IHG, Wyndham, and Choice land around 0.55 to 0.7 cents. None are worthless, but a Hilton or Wyndham bonus has to be several times larger than a Hyatt one to match it, so weigh the number against the value. Airline miles vary even more: American is around 1.6 cents, while sweet-spot programs like Turkish or ANA can be worth far more on the right premium-cabin award.
What this means for welcome bonuses and our ratings
Two takeaways. First, judge a welcome bonus by its value, not its headline number: a 50,000-point Hyatt or Chase offer can beat a 150,000-point Hilton one. Second, this is exactly why Cardocrat values every point at a flat 1 cent in its rankings, the conservative cash floor, so no program can inflate its way up the list with fantasy math. The transfer upside in this guide is real, but it is on top of that floor, and only if you actually redeem for it. See the worst ways to redeem to avoid giving that value back, and why we value points at 1 cent.
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