Points & Miles Valuation
Points and miles can be redeemed for flights, hotel nights, travel packages, cash back, gift cards, merchandise and investment products. The best value comes from using each program the way it was designed; value varies by how you redeem.
We set average valuations to express card welcome offers in dollars; these values change regularly as the programs evolve.
Our valuation method
- Point value: in cents per point, for each program.
- First-year value: welcome bonus or rebate + rewards across 11 categories (groceries, gas, transit, restaurants, pharmacy, travel, bills, telecom, entertainment & streaming, office supplies, other) − the first-year annual fee. On some cards, accelerated (bonus) rates are capped, and the calculation takes these caps into account.
- Subsequent-year value: rewards − annual fee.
- Cards with annual fees: they usually bundle annual credits, lounge access and travel insurance.
Financial institutions
| Program | Value | Key details |
|---|---|---|
| American Express – Membership Rewards | 1.7 ¢/pt | fixed award chart 2.0¢Aeroplan transfer 2.0¢British Airways 1.7¢Asia Miles 1.5¢Marriott Bonvoy 1.08¢statement credit 1.0¢gift cards 0.7¢merchandise 0.7¢ |
| BMO – BMO Rewards | 0.67 ¢/pt | travel 0.67¢investment products 0.67¢experiences 0.62¢gift cards 0.54¢merchandise 0.50¢statement credit 0.33¢ |
| NBC – À la carte Rewards | 0.9 ¢/pt | À la carte plan 1.0¢bookings ≥55K pts 0.91¢bookings 0.83¢investments 0.83¢gift cards 0.78¢merchandise 0.60¢statement credit 0.40¢ |
| CIBC – Aventura | 1.2 ¢/pt | fixed award chart 2.3¢bookings 1.0¢donations 1.0¢investments 0.83¢gift cards 0.71¢merchandise 0.71¢statement credit 0.63¢ |
| Desjardins – Bonidollars | $1/pt | travel $1investments $1donations $1shows $1gift cards $0.96merchandise $0.90 |
| MBNA – MBNA Rewards | 1 ¢/pt | travel 1¢gift cards 0.92¢merchandise 0.88¢statement credit 0.83¢ |
| RBC – RBC Avion | 1.6 ¢/pt | fixed award chart 2.3¢British Airways 1.7¢Asia Miles 1.5¢American AAdvantage 1.5¢bookings 1.0¢WestJet 1.0¢donations 1.0¢investments 0.8¢merchandise 0.75¢gift cards 0.7¢statement credit 0.58¢ (non-transfer cards: 1 ¢/pt) |
| Scotia – Scene+ | 1 ¢/pt | bookings 1¢merchandise/Best Buy/Apple 0.9¢gift cards 0.74¢donations 0.74¢statement credit 0.70¢experiences 0.60¢ |
| TD – TD Rewards | 0.5 ¢/pt | Expedia For TD 0.5¢bookings 0.4¢education products 0.4¢gift cards 0.25¢statement credit 0.25¢merchandise 0.22¢ |
Airlines
| Program | Value | Key details |
|---|---|---|
| Air Canada – Aeroplan | 2 ¢/pt | business/first >6¢short-haul 4¢medium-haul 3¢long-haul 2¢AC gift cards 1¢car rental 0.9¢vacation packages 0.83¢hotels 0.80¢gift cards 0.7¢merchandise 0.7¢ |
| British Airways – Executive Club | 1.7 ¢/pt | business/first >5¢short-haul 3¢medium-haul 2¢long-haul 1¢car rental 0.8¢hotels 0.7¢gift cards 0.5¢ |
| Cathay Pacific – Asia Miles | 1.5 ¢/pt | business/first >5¢short-haul 2¢medium-haul 1.5¢long-haul 1¢hotels 0.8¢merchandise 0.5¢ |
| WestJet – WestJet Rewards | 1 ¢/pt | flights 1¢vacation packages 1¢ |
Hotels
| Program | Value | Key details |
|---|---|---|
| Best Western Rewards | 0.8 ¢/pt | hotel nights 0.8¢BW gift cards 0.59¢gift cards 0.55¢Aeroplan transfer 0.5¢ |
| Hilton Honors | 0.6 ¢/pt | hotel nights 0.6¢Aeroplan transfer 0.25¢car rental 0.2¢ |
| Marriott Bonvoy | 0.9 ¢/pt | hotel nights 0.9¢airline transfers 0.8¢tickets 0.4¢merchandise 0.35¢gift cards 0.35¢car rental 0.1¢ |
Other programs
| Program | Value |
|---|---|
| Canadian Tire – Triangle | $1/pt (rebate) |
| President's Choice – PC Optimum | 0.1 ¢/pt (rebate) |
Default spending assumptions
Our calculators start from a monthly spending profile representative of a Canadian household, so each card's value can be expressed in dollars. The amounts are grounded in Statistics Canada's Survey of Household Spending (2023, the latest published), projected to 2026 using the Consumer Price Index, and limited to spending realistically chargeable to a credit card.
| Category | Monthly default | Statistics Canada basis (2023 → 2026) |
|---|---|---|
| Groceries | $700 | Food from stores (and convenience stores) |
| Gas & EV | $200 | Gasoline : average monthly spend (volatile prices ± 5%) |
| Transit | $100 | Public transit : fares and passes |
| Restaurants | $300 | Restaurants and food delivery |
| Pharmacy | $50 | Pharmacy : everyday medication and health items |
| Travel | $150 | Flights and lodging : lumpy spend, smoothed over the year |
| Bills & recurring payments | $250 | Card-payable recurring household bills and services |
| Telecom | $150 | Telecom : mobile, internet, TV |
| Entertainment & streaming | $100 | Streaming subscriptions and everyday leisure |
| Office supplies | $0 | Office supplies : nil for a consumer profile |
| Other | $500 | Clothing, personal & health care, miscellaneous |
| Monthly total | $2,500 | ≈ a typical Canadian household's card spending |
- Card-chargeable : we exclude spending that generally can't be put on a credit card (rent and mortgage, vehicle purchase, insurance, taxes), keeping only what actually gets charged to a card.
- Indexation 2023 → 2026 : projected with Statistics Canada's CPI: groceries +7.8%, restaurants +8.0%, all-items +5.7%. Gasoline prices are volatile (± 5%).
- Adjustable : these amounts are only a starting point: anyone can enter their own spending (and point valuation) in the calculator for a tailored result.
Average expenditures are from Statistics Canada; their projection to 2026 and card-spend allocation are estimates established by Milesopedia.
Spending by persona
Starting from Statistics Canada's actual data (Survey of Household Spending 2023, projected to 2026 via CPI), here is the spending realistically charged to a credit card by persona, grouped into the comparator's 7 broad categories. Monthly amounts in dollars. We exclude rent and mortgage, vehicle purchase, insurance and taxes (not chargeable to a card).
| Category (monthly, $) | Single / Student / Young pro1 | Under 302 | Couple, no children | Family | Retirees 65+2 |
|---|---|---|---|---|---|
| Groceries | 414 | 515 | 740 | 1,161 | 609 |
| Restaurants | 169 | 355 | 306 | 412 | 188 |
| Gas and transit | 220 | 329 | 371 | 577 | 254 |
| Travel (flights and hotels) | ~60 | ~60 | ~130 | ~160 | ~60 |
| Bills and recurring (telecom, services) | ~380 | ~540 | ~570 | ~810 | ~455 |
| Entertainment and leisure | ~212 | ~328 | ~498 | ~603 | ~302 |
| Other (clothing, care, health, misc.) | ~330 | ~525 | ~570 | ~810 | ~400 |
| Total card-chargeable | ~1,780 | ~2,650 | ~3,185 | ~4,530 | ~2,270 |
- 1 “Single” = one-person household (table 11-10-0224-01, Statistics Canada actuals). Statistics Canada has no “student” or “young professional” segment: proxy values.
- 2 “Under 30” and “Retirees 65+” = by age of the reference person (table 11-10-0227-01); these brackets cover all household types, not just single people: directional.
Our default profile of $2,500/mo matches a typical household, between a single person (~$1,780) and a couple with no children (~$3,185): roughly a young professional or a cautious couple, which fits our points-optimizer audience. In Québec, spending runs about 85% of the national average, but unevenly: housing 72%, groceries 102% (no discount on groceries), restaurants 74%, education 60%.
Estimates established by Milesopedia, not provided or approved by the issuing institutions.