How we ranked these programs
Ranked the 11 US airline loyalty programs in the Points Frog list_point_values catalog by their USD cents-per-mile redemption estimates, from the catalog snapshot dated September 20, 2026 (still the live values on October 25, 2026). Estimates are typical travel redemption values, not cash prices. Ties share a rank and are listed in catalog order. Program rule changes, partners and card offers are not part of the sort order; they are noted for context, citing Alaska Air Group, American Airlines and Southwest Airlines releases.
1.55 cents per point. Alaska and Hawaiian's program; members can choose to earn by distance, price or segments from October 1, 2026.
Explore Atmos Rewards →1.45 cents per mile. American is rolling out cash-and-miles bookings on aa.com and its app.
Explore AAdvantage →1.3 cents per point. JetBlue's program sits third, ahead of United and Delta.
Explore TrueBlue →1.25 cents per mile, tied with Southwest. 50,000 miles is worth about $625 at this estimate.
Explore MileagePlus →1.25 cents per point, tied with United. New Silver, Gold and Platinum tiers start January 1, 2027.
Explore Rapid Rewards →1.2 cents per mile, the lowest of the big three legacy carriers in our catalog.
Explore SkyMiles →1.1 cents per mile, the top of the low-cost group.
Explore Frontier Miles →1.0 cent per point, tied with Breeze and Sun Country.
Explore Allways Rewards →1.0 cent per point, tied with Allegiant and Sun Country.
Explore Breezy Rewards →1.0 cent per point, tied with Allegiant and Breeze.
Explore Sun Country Rewards →0.9 cents per point, last of the 11 US programs in our catalog.
Explore Free Spirit →
Which US airline currency is worth the most? We ranked 11 US airline programs by the cents-per-mile estimates in the Points Frog points value catalog. These are the live values on October 25, 2026, from a catalog snapshot dated September 20, 2026.
Alaska and Hawaiian's Atmos Rewards leads at 1.55 cents. American AAdvantage is next at 1.45 cents. Spirit's Free Spirit points land last at 0.9 cents.
These numbers are travel redemption estimates, not cash prices. One great award can beat the average, and a poor one can fall well below it.
The full ranking
| Rank | Program | Cents each |
|---|---|---|
| 1 | Atmos Rewards (Alaska, Hawaiian) | 1.55 |
| 2 | American AAdvantage | 1.45 |
| 3 | JetBlue TrueBlue | 1.30 |
| 4 | United MileagePlus | 1.25 |
| 4 | Southwest Rapid Rewards | 1.25 |
| 6 | Delta SkyMiles | 1.20 |
| 7 | Frontier Miles | 1.10 |
| 8 | Allegiant Allways Rewards | 1.00 |
| 8 | Breeze Breezy Rewards | 1.00 |
| 8 | Sun Country Rewards | 1.00 |
| 11 | Spirit Free Spirit | 0.90 |
Ties share a rank. United and Southwest both sit at 1.25 cents. Allegiant, Breeze and Sun Country all sit at 1.0 cent.
What 50,000 miles is worth
The gap looks small per mile. It grows with a real balance. Here is what 50,000 miles or points is worth at each estimate:
- Atmos Rewards: about $775
- AAdvantage: about $725
- TrueBlue: about $650
- MileagePlus or Rapid Rewards: about $625
- SkyMiles: about $600
- Frontier: about $550
- Allegiant, Breeze or Sun Country: about $500
- Free Spirit: about $450
So the same 50,000-mile balance swings by about $325 between the top and the bottom of the list.
Why the top two lead
Alaska Airlines and American Airlines are both oneworld alliance members. That gives Atmos Rewards and AAdvantage members partner airlines to book on, not just their own flights.
Both programs are also changing. Atmos Rewards now lets members choose to earn by distance, by price paid, or by segments flown, starting October 1, 2026, according to Alaska Air Group. American says it is rolling out cash-and-miles bookings on aa.com and its app. Neither change has moved our estimate yet.
The big three are bunched together
United at 1.25 cents and Delta at 1.2 cents are close. On a 50,000-mile balance, the gap is only about $25. For most travelers, which airline flies from their home airport matters more than that.
Southwest ties United at 1.25 cents. Southwest has announced a new Rapid Rewards lineup for January 1, 2027, with Silver, Gold and Platinum tiers.
The low-cost carriers
The budget airlines sit at or near 1 cent in our catalog. That is still real value if you already fly them. It just leaves less upside than the bigger programs.
How to use the ranking
Use the order to size a balance, not to pick an airline. The best currency is the one that books the trip you want at the fewest miles after taxes and fees.
- Price the cash fare first. Divide the cash fare, minus any award taxes, by the miles needed. Compare that with the number above.
- Do not chase the top spot. A 1.2-cent SkyMile that books your flight beats a 1.55-cent Atmos point that sits unused.
- Check bank points too. Transferable bank points rank higher in our catalog. See our bank points ranking.
You can check any balance with our points value calculator.