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Editor’s note: This is a recurring post, regularly updated with new information and offers. These valuations are not provided by card issuers.

One of the questions people often ask us is, “How much is a point or mile worth?”

The true answer varies from point to point and person to person. It also depends on your travel goals and how much you maximize a particular loyalty currency. Still, some rewards credit cards are worth more than others, and our goal is to give you a sense of how they stack up.

Historically, TPG has valued points and miles based on a combination of factors: the price at which we would purchase the miles, award costs in the program (factoring in availability and fees) and our expertise in the program’s inner workings. However, we now use extensive data for the top six U.S. airline loyalty programs to better estimate the value you should aim to get from your rewards. Read our explainer post on our data-driven valuations for a full methodology breakdown.

What are credit card points and miles worth?

What are airline points and miles worth?

*Calculated using TPG’s data-backed valuations methodology launched in September 2023.

What are hotel points worth?

News highlight of the month

Would you fly to Europe in a single-aisle aircraft?

Recent advancements in aircraft technology mean eight-plus-hour flights on narrow-body aircraft are now a reality. While airlines like JetBlue and Scandinavian Airlines have for several years connected the northeast of the United States to the edges of Western and Northern Europe via the Airbus A321LR aircraft (the “LR” stands for “Long Range”), the new chapter took to the skies in November.

Spanish carrier Iberia launched passenger service on the world’s first Airbus A321XLR aircraft (eXtra Long Range), and TPG was on the first transatlantic service from Adolfo Suárez Madrid-Barajas Airport (MAD) to Boston Logan International Airport (BOS). With a range of up to 4,700 nautical miles, the possibilities of this “small” new aircraft are staggering; it’s capable of flying farther than any other single-aisle passenger plane. Specifically, this aircraft can fly from John F. Kennedy International Airport (JFK) deep into mainland Europe, potentially as far as Turkey’s Istanbul Airport (IST).

Iberia’s plan for the A321XLR is to turn seasonal routes from airports like BOS and Dulles International Airport (IAD) into year-round services. When demand drops over the slower northern winter period, Iberia can now switch to the smaller A321XLR plane — which is much easier to fill with its 182 seats — rather than completely cut a route usually operated by a 300-plus-seat wide-body A330 or A350 aircraft.

The next airline to receive the new plane will be the Irish carrier Aer Lingus, which is taking a different approach. Rather than using the aircraft on existing routes to flex with demand, Aer Lingus will use the aircraft to launch new routes from Dublin Airport (DUB) to Nashville International Airport (BNA) and Indianapolis International Airport (IND). With fewer seats to fill on the smaller aircraft, this comes with much lower risk than launching a new route on a larger wide-body plane.

If you have Avios or one of the many transferable currencies that convert to Avios at a 1:1 rate, these aircraft offer an exciting new chapter in transatlantic travel. They will open new possibilities for redeeming your points and miles.

American Airlines has orders for 50 A321XLRs, the first of which should join the fleet in 2025 and will initially take over premium transcontinental routes currently operated by the A321T aircraft.

Related: The best ways to travel to Europe using points and miles

Travel credit card offers

Here are some of the best options if you’re looking for a new travel rewards card that earns transferable points.

Chase Sapphire Preferred Card

The Chase Sapphire Preferred® Card is one of our favorite travel rewards cards, especially if you’re just getting started with points and miles. The Chase Sapphire Preferred currently offers a welcome bonus of 60,000 Chase Ultimate Rewards points after you spend $4,000 on purchases in the first three months from account opening. Per our valuations, this welcome bonus is worth $1,230 if you leverage the Ultimate Rewards transfer partners or $750 if you redeem through Chase Travel℠ at 1.25 cents per point.

The card comes with a $95 annual fee but offers many perks, including a $50 annual hotel credit for reservations made through Chase Travel and a 10% anniversary points bonus based on your previous year’s spending. For more details, check out our Chase Sapphire Preferred Card review.

Official application link: Chase Sapphire Preferred Card

Capital One Venture X Rewards Credit Card

The Capital One Venture X Rewards Credit Card is a compelling option due to its great earning rates and included perks. The card currently has a welcome offer of 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening. Due to the value you can get when redeeming with the Capital One transfer partners, our valuations peg the value of this welcome bonus at $1,388.

You’ll earn at least 2 miles per dollar spent on purchases and get access to a variety of useful benefits, including a $300 annual credit for bookings through Capital One Travel, 10,000 bonus miles each account anniversary and unlimited complimentary access to Capital One airport lounges for you and up to two guests per visit. Check out our Capital One Venture X card review for more details.

Learn more: Capital One Venture X Rewards Credit Card

Capital One Venture Rewards Credit Card

The Capital One Venture Rewards Credit Card has a welcome offer of 75,000 bonus miles when you spend $4,000 on purchases within the first three months from account opening.

If you plan to transfer your miles to Capital One’s hotel or airline partners, this welcome offer is worth around $1,388. The annual fee for the Capital One Venture card is $95 — a reasonable amount for a card with such a generous welcome offer. See our Capital One Venture card review for more details.

Learn more: Capital One Venture Rewards Credit Card 

The Platinum Card from American Express

With the current welcome offer on The Platinum Card® from American Express, you’ll earn 80,000 Membership Rewards points after you spend $8,000 on purchases in the first six months of card membership. However, you may be targeted for a higher offer through the CardMatch tool. (This offer is subject to change at any time.)

Our valuations peg 80,000 Membership Rewards points at $1,600 based on the value you can get when leveraging the Membership Rewards transfer partners. The Amex Platinum is packed with benefits (enrollment is required for select benefits), so read our Amex Platinum review for all the details. The Amex Platinum has a $695 annual fee (see rates and fees).

Official application link: The Platinum Card from American Express

American Express Gold Card

One of the most popular cards with TPG staffers, the American Express® Gold Card offers new cardholders the ability to earn 60,000 bonus points after spending $6,000 on purchases in the first six months of card membership. Based on our valuations, this welcome offer is worth $1,200. Check the CardMatch tool to see if you’re targeted for an even higher offer. (This offer is subject to change at any time.)

The Amex Gold is great for many everyday purchases. You’ll earn 4 points per dollar spent at U.S. supermarkets (on up to $25,000 in purchases per calendar year, then 1 point per dollar) and 4 points per dollar spent at restaurants (on up to $50,000 in purchases per calendar year, then 1 point per dollar). The card has a $325 annual fee (see rates and fees), so check out our Amex Gold review to see whether it makes sense.

Official application link: American Express Gold Card

The Business Platinum Card from American Express

The Business Platinum Card from American Express offers new cardholders the opportunity to earn 150,000 Membership Rewards points after spending $20,000 on eligible purchases with their card in the first three months of membership. Per our valuations, this welcome offer is worth $3,000.

You’ll find many lesser-known Amex Business Platinum perks similar to (but slightly different from) those of the personal version. For more details, check out our Amex Business Platinum review. Then, check out our comparison of the Amex Platinum and the Business Platinum to see which card better fits your wallet.

Official application link: The Business Platinum Card from American Express

Capital One Venture X Business

The Capital One Venture X Business offers a welcome bonus of 150,000 miles after you spend $30,000 in the first three months from account opening. While that’s a large spending requirement, those rewards can go a long way toward your next trip. Our valuations peg the value of this welcome bonus at $2,775.

The Venture X Business features perks that are nearly identical to those on the personal version of the card — including a $300 annual credit for bookings through Capital One Travel, extensive airport lounge access, and 10,000 bonus miles each year after your cardholder anniversary. Check out our Capital One Venture X Business card review for more details.

Learn more: Capital One Venture X Business

Ink Business Preferred Credit Card

The Ink Business Preferred® Credit Card has a welcome offer of 90,000 bonus points after you spend $8,000 on purchases in the first three months from card opening. Based on our current valuation of Chase Ultimate Rewards points, this welcome bonus is worth $1,845.

The Ink Business Preferred can be a great option for business owners who want to benefit from a generous welcome bonus but might not meet higher spending requirements. Business owners may also appreciate that the Ink Business Preferred offers 3 points per dollar spent on the first $150,000 in combined travel, shipping and advertising (i.e., with social media sites and search engines) purchases and internet, cable and phone services each account anniversary year. For more details, check out our Ink Business Preferred Credit Card review.

Official application link: Ink Business Preferred Credit Card

For rates and fees of the Amex Platinum, click here.
For rates and fees of the Amex Gold, click here.