How do you calculate cents per point?
Subtract the taxes and fees you'd pay on the award from the cash price, divide by the points or miles it costs, and multiply by 100. A $420 round-trip flight that costs 25,000 miles plus $11.20 in taxes and fees works out to ($420 − $11.20) ÷ 25,000 × 100 = 1.64¢ per mile. If that beats what the miles are usually worth, using them beats paying cash.
- Find the cash price of the same flight, room or booking, on the same dates.
- Subtract the cash you'd still pay on the award: taxes, fees, and the cash part of a points + cash price.
- Divide by the points or miles the award costs, then multiply by 100 to get cents.
- Compare the result with the program's usual value. Above it, use points; below it, pay cash and save them.
Worked examples
Awards priced against an expensive cash fare tend to beat a program's value, while cash-outs rarely do: below, the United Airlines MileagePlus flight returns 1.64¢ a mile, and American Express Membership Rewards points used to cover a card charge return 0.60¢ against a 2.1¢ value.
| Redemption | Cash price | Award | Cents per point | Verdict |
|---|---|---|---|---|
| Round-trip economy flight in the USUnited Airlines MileagePlus | $420 | 25,000 + $11.20 | 1.64¢ | Great dealvs 1.25¢ value |
| One-way economy flight in the USSouthwest Airlines Rapid Rewards | $250 | 18,000 + $5.60 | 1.36¢ | Fair dealvs 1.25¢ value |
| Points + cash flight in the USJetBlue TrueBlue | $300 | 10,000 + $155.60 | 1.44¢ | Fair dealvs 1.3¢ value |
| Short US flight on saleDelta Air Lines SkyMiles | $129 | 12,500 + $5.60 | 0.99¢ | Poor dealvs 1.2¢ value |
| One-way business class to EuropeAmerican Airlines AAdvantage | $3,800 | 60,000 + $200 | 6.00¢ | Great dealvs 1.45¢ value |
| Points as cash backChase Ultimate Rewards | $100 | 10,000 | 1.00¢ | Poor dealvs 2¢ value |
| Points to cover a card chargeAmerican Express Membership Rewards | $60 | 10,000 | 0.60¢ | Poor dealvs 2.1¢ value |
The $5.60 and $11.20 fees are TSA's September 11 Security Fee, charged on flights from US airports at $5.60 each way and no more than $11.20 a round trip. The two cash-outs are at the banks' own rates: 1¢ a point for Chase cash back and 0.6¢ a point for Amex points used to cover a charge.
What is a good cents per point value?
Anything above what the points are usually worth. Points Frog values Chase Ultimate Rewards points at 2¢, American Express Membership Rewards points at 2.1¢, United Airlines MileagePlus miles at 1.25¢ and Delta Air Lines SkyMiles at 1.2¢. This calculator calls a redemption great at 20% or more above that value (2.4¢ or more for Chase Ultimate Rewards), fair from 10% below to 20% above, and poor below that.
| Program | Points Frog value | Great deal at | Poor deal under |
|---|---|---|---|
| Bank and card points | |||
| American Express Membership Rewards points | 2.1¢ | 2.52¢+ | 1.89¢ |
| Bilt Rewards points | 2.1¢ | 2.52¢+ | 1.89¢ |
| Capital One Miles miles | 1.8¢ | 2.16¢+ | 1.62¢ |
| Chase Ultimate Rewards points | 2¢ | 2.4¢+ | 1.8¢ |
| Citi ThankYou Rewards points | 1.75¢ | 2.1¢+ | 1.58¢ |
| Wells Fargo Rewards points | 1.6¢ | 1.92¢+ | 1.44¢ |
| Airline miles and points | |||
| Air Canada Aeroplan points | 1.45¢ | 1.74¢+ | 1.31¢ |
| Air France-KLM Flying Blue miles | 1.3¢ | 1.56¢+ | 1.17¢ |
| Alaska Airlines Atmos Rewards miles | 1.55¢ | 1.86¢+ | 1.4¢ |
| American Airlines AAdvantage miles | 1.45¢ | 1.74¢+ | 1.31¢ |
| ANA Mileage Club miles | 1.4¢ | 1.68¢+ | 1.26¢ |
| Avianca LifeMiles miles | 1.4¢ | 1.68¢+ | 1.26¢ |
| Cathay Pacific Cathay (Asia Miles) miles | 1.2¢ | 1.44¢+ | 1.08¢ |
| Delta Air Lines SkyMiles miles | 1.2¢ | 1.44¢+ | 1.08¢ |
| Emirates Skywards miles | 1.2¢ | 1.44¢+ | 1.08¢ |
| JetBlue TrueBlue points | 1.3¢ | 1.56¢+ | 1.17¢ |
| Qatar Airways Privilege Club Avios | 1.3¢ | 1.56¢+ | 1.17¢ |
| Singapore Airlines KrisFlyer miles | 1.3¢ | 1.56¢+ | 1.17¢ |
| Southwest Airlines Rapid Rewards points | 1.25¢ | 1.5¢+ | 1.13¢ |
| The British Airways Club Avios | 1.3¢ | 1.56¢+ | 1.17¢ |
| United Airlines MileagePlus miles | 1.25¢ | 1.5¢+ | 1.13¢ |
| Virgin Atlantic Flying Club points | 1.4¢ | 1.68¢+ | 1.26¢ |
Is cash back a good use of points?
Usually not, for points that transfer to airlines and hotels. Chase pays 1¢ a point as cash back and American Express 0.6¢ a point to cover a card charge, well under the 2¢ and 2.1¢ Points Frog values them at. Cashing out can still make sense when you need the money, have no travel planned, or hold points that don't transfer.
Amex also lists 0.7¢ to 1¢ a point for Pay with Points at checkout, up to 1¢ for gift cards, and 1¢ for flights booked through Amex Travel. Transferring points to airline and hotel partners is how they usually reach more, though what you get depends on the award.
How the calculator works
- Cash saved is the cash price minus everything you'd still pay on the award: taxes, fees and any cash part.
- Cents per point is the cash saved divided by the points, times 100.
- Your points are valued at Points Frog's value for the program, and the difference from the cash saved is how far using points beats paying cash, or falls short.
- A redemption is great at 20% or more above the program's value, fair from 10% below to 20% above it, and poor more than 10% below it. Values are averages, so an award a little under one is still about even with paying cash.
- Break-even is the most points the award could cost and still be worth the cash it saves at the program's value.