How Much Are Points Worth? (Quarter 4 2022)

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Now that Quarter 4 of 2022 has arrived, it’s erstwhile again clip to revisit our Points Valuations, which we update connected a quarterly basis.

During the erstwhile quarter, the biggest quality came with the ongoing demise of Air Miles. While the programme is inactive dilatory falling retired of relevance connected the Canadian loyalty scene, Scene+ is gladly taking its place.

Meanwhile, changes are besides afoot for 2 large loyalty programs successful the coming months. Marriott Bonvoy is transitioning to dynamic pricing, and Alaska Airlines Mileage Plan cryptically announced upcoming changes to its grant chart.

Otherwise, the loyalty country remains reasonably unchangeable this quarter.

Before we delve into the valuations, I should punctual you that the absorption of these valuations lies successful the target redemption value of each points currency, alternatively than the acquisition cost that you mightiness incur (which tin alteration importantly depending connected however you similar to gain points).

Air France/KLM Flying Blue

Air France/KLM Flying Blue miles proceed to go much absorbing and readily available. Each month, the programme unveils its Promo Rewards, which trim the outgo of redemptions connected circumstantial routes.

In October, the outgo for an system formation betwixt galore cities successful the United States and Europe dropped down to lone 11,250 miles from the East Coast and 15,000 miles from the West Coast. 

Even though flying successful system isn’t the astir glamorous mode to travel, it doesn’t get overmuch cheaper than that for a long-haul formation crossed the Atlantic. 

Our valuation of Flying Blue miles remains changeless this quarter, but hopefully we’ll spot adjacent much improvements to the programme that effect successful an upward displacement successful the adjacent future.

  • Continued valuation: 1.3 cents/mile (USD), 1.6 cents/mile (CAD)

Alaska Airlines Mileage Plan

After officially joining the Oneworld Alliance, Alaska Airlines has been engaged adding a fig of spouse airlines for earning and redeeming connected its Mileage Plan loyalty program. While the redemption rates with immoderate leaves a batch to beryllium desired, the outgo for others, specified arsenic Air Tahiti Nui, is rather favourable… astatine slightest for now.

Recently, Alaska Airlines Mileage Plan fired a informing shot, signalling that changes to its loyalty programme are coming by the extremity of 2022. While the nonstop details of the changes person yet to beryllium revealed, the quality came arsenic an ominous motion for the program’s galore saccharine spots. 

The existent grant pricing remains until Alaska Airlines announces otherwise. Be definite to fastener successful your redemptions with Japan Airlines First Class, oregon if you tin find grant space, Cathay Pacific First Class, earlier the changes instrumentality effect.

While the valuation of Alaska miles remains unchanged this quarter, this whitethorn not beryllium the lawsuit successful Q1 of 2023 if we spot a devaluation with the revised grant pricing structure.

  • Continued valuation: 1.8 cents/mile (USD), 2.3 cents/mile (CAD)

CIBC Aventura: 1.25cpp Extended Through to December 31

In the 2nd 4th of 2022, CIBC’s Aventura programme enactment connected a peculiar promotion, allowing cardholders to usage points to redeem against immoderate question acquisition astatine treble the accustomed rate: 1.25 cents/point alternatively of 0.625 cents/point.

This promotion, which was primitively acceptable to expire connected June 15, and past September 15, has been extended to December 31, 2022.

This promotion came to prominence backmost erstwhile CIBC was offering 45,000 Aventura points with nary minimum walk and the first-year interest waived connected their CIBC Aventura Visa Infinite and Gold cards, resulting successful a nett $563 net per paper that you applied for.

For the remainder of the year, the worth of CIBC Aventura points is temporarily elevated to 1.25cpp (cents per point).

We expect this to instrumentality to our regular valuation of 1.2cpp, which factors successful the baseline redemption of 1cpp against question purchases positive the imaginable upside of the CIBC Aventura fixed-value redemption chart, adjacent 4th erstwhile the promotion ends. 

  • Continued valuation: 1.25 cents/point (CAD)

Marriott Bonvoy

The timepiece is ticking for Marriott Bonvoy’s imminent transition to afloat dynamic pricing in 2023. Earlier this year, we saw the elimination of edifice categories and a measurement towards dynamic pricing, but the afloat translation has yet to instrumentality place.

We don’t yet cognize what the aboriginal holds for Marriott Bonvoy, but it’s precise apt that aspirational hotels are going to get overmuch much costly arsenic of adjacent quarter. Be definite to fastener successful immoderate aspirational stays earlier the caller year, different you whitethorn upwind up losing worth from your Bonvoy points.

All signs are pointing towards a devaluation adjacent quarter, but for now, the worth remains the same.

  • Continued valuation: 0.7 cents/point (USD), 0.9 cents/point (CAD)

National Bank À la carte Rewards

A caller summation to our points valuations this 4th comes successful the signifier of National Bank À la carte Rewards. The loyalty programme has precise precocious go much absorbing with the latest circular of credit paper offers from National Bank, which are valid until January 13, 2023.

The National Bank World Elite Mastercard, which is successful a league of its ain for security coverage, has a invited connection worthy up to $300 for question booked done the À la carte Rewards portal.

Aside from the invited bonus, the National Bank World Elite Mastercard comes with a 5x multiplier for groceries and restaurants, making it precise casual to rack up À la carte Rewards points.

You’ll person to redeem points done the online question portal to get 1 cent per point, but if you similar to publication question straight with vendors, you tin inactive redeem À la carte Rewards for a connection recognition astatine a little value. You’ll get 0.83 cents per constituent if you redeem less than 55,000 points, and 0.91 cents per constituent erstwhile redeeming much than 55,000 points.

Having different points currency astatine your disposal tin ne'er hurt, particularly erstwhile you tin usage them for question expenses that different loyalty programs don’t cover.

  • Starting valuation: 1 cent/point (CAD)

Points Valuations, Quarter 4 2022

Here’s a summary of our Points Valuations for Quarter 4 of 2022. You tin notation to the Points Valuations leafage for a afloat database with further notes.

Points Program

Value (CAD)

Value (USD)


2.1 cents/point

1.7 cents/point

Air France/KLM

Flying Blue

1.6 cents/mile

1.3 cents/mile

Air Miles

11 cents/mile 

Alaska Airlines

Mileage Plan

2.3 cents/mile

1.8 cents/mile

American Airlines


1.7 cents/mile

1.4 cents/mile

American Express (Canada)

Membership Rewards

2.2 cents/point

American Express (US)

Membership Rewards

2.3 cents/point

1.8 cents/point

Best Western Rewards

0.7 cents/point

0.6 cents/point

BMO Rewards

0.67 cents/point

British Airways Avios

1.9 cents/Avios

1.5 cents/Avios

Cathay Pacific Asia Miles

1.6 cents/mile

1.3 cents/mile

Chase Ultimate Rewards

2.1 cents/point

1.7 cents/point

CIBC Aventura

1.25 cents/point

Citi ThankYou

2.1 cents/point

1.7 cents/point

Delta SkyMiles

1.5 cents/point

1.2 cents/mile

Hilton Honors

0.6 cents/point

0.5 cents/point

HSBC Rewards

0.8 cents/point

IHG Rewards

0.5 cents/point

0.4 cents/point

Marriott Bonvoy

0.9 cents/point

0.7 cents/point

National Bank À la carte Rewards

1 cent/point

RBC Avion

2.0 cents/point


1 cent/point

Singapore Airlines


1.8 cents/point 

1.4 cents/point

TD Rewards

0.5 cents/point

WestJet Rewards

$1.02/WestJet Dollar

World of Hyatt

1.9 cents/point

1.5 cents/point


The 3rd 4th of 2022 has seen comparatively insignificant developments successful the loyalty landscape.

CIBC’s Aventura programme extended the temporarily inflated redemption rates it offers, which is simply a boon for Canadians who gain points successful the program. Meanwhile, determination are imminent, apt antagonistic changes coming to Marriott Bonvoy and Alaska Airlines Mileage Plan, truthful fastener successful your edifice and formation bookings earlier it’s excessively late.

Remember, dainty these numbers arsenic simply a proposition for tenable people redemption values erstwhile deciding whether to redeem points oregon wage currency for your adjacent trip.

Ultimately, the worth derived from each redemption volition beryllium subjective to the idiosyncratic traveller, and our valuations are designed to exemplify an mean benchmark crossed the assemblage to assistance pass your determination arsenic you see your adjacent points redemption.   

The station How Much Are Points Worth? (Quarter 4 2022) appeared archetypal connected Prince of Travel by Ricky Zhang.

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