Updated: March 1st, 2024
You can use your points and miles in a variety of ways depending on the terms and conditions of each reward program:
- Flights
- Hotel nights
- Travel
- Cash back
- Gift cards
- Merchandise
- Investment products
- And more!
Naturally, the best value will be obtained for what the reward program was made for, for example:
- An airline loyalty program will generally offer better value for airline tickets than for merchandise.
- A hotel group loyalty program will generally offer better value for hotel nights than for gift cards.
Thus, the value will vary greatly from person to person depending on its use.
We are looking to establish an average value of what you can get out of each program. It also translates welcome bonuses from credit cards into monetary value.
And like currency, the value of points and miles changes regularly as the rules of each reward program change: devaluations, upgrades, etc.
Hence this page lists the semi-annual value of points and miles in Canada.
Our valuation calculation
Reward points value
We have established a valuation of the reward point in cents for each loyalty program. You will find the valuation of each program below.
First-year value
For all credit card offers, we estimate the value of the welcome offer (bonus, annual fee rebate) in the first year, plus the value of the rewards earned based on your purchases entered in the calculator for the 6 categories:
- Groceries
- Gas/Transit
- Dining
- Travel
- Bills
- Other purchases
First Year Offer Value = Welcome Bonus Value + Rewards Earned – First Year Annual Fee
Value of subsequent years
For the value of subsequent years, we take into account the rewards earned based on your purchases in the calculator.
Value of offer in subsequent years = Rewards earned – Annual fee
Credit cards with annual fee
Information: Credit cards with an annual fee usually come with benefits such as annual credits, airport lounge visits or travel insurance. Please consider this when choosing a card or at annual renewal.
Financial institutions
American Express - Membership Rewards
The American Express Membership Rewards program offers the most flexible points in Canada. You can use them in a variety of ways: flight purchases, transfer to multiple airline or hotel loyalty programs, account credit, purchase merchandise, gift cards, etc.
Since this program is generally intended for travellers, the best use will be for obtaining airline tickets or transferring points to loyalty programs like Aeroplan. This explains the averafe value of 1.7¢ per point.
| Redemption | Value |
| Fixed reward chart for flights | 2.0¢ / point |
| Transfer to Aeroplan | 2.0¢ / point |
| Transfer to British Airways Executive Club | 1.7¢ / point |
| Transfer to Asia Miles | 1.5 ¢ / point |
| Transfer to Marriott Bonvoy | 1.08 ¢ / point |
| Statement credit for any purchase | 1.0 ¢ / point |
| Gift Cards | 0.7¢ / point |
| Merchandise | 0.7¢ / point |
| Average value | 1.7¢ / point |
BMO - BMO Rewards
The BMO Rewards program offers points that can be used in a variety of ways: travel purchases, investment products, account credit, merchandise purchases, gift cards, experiences.
Since this program is generally intended for travellers, the best use will be for travel (plane tickets, hotels, cruises, car rentals) through the BMO Rewards platform. This explains the average value of 0.67¢ per point.
| Redemption | Value |
| Travel through BMO Rewards | 0.67 ¢ / point |
| BMO Investment Products | 0.67 ¢ / point |
| Experiences | 0.62 ¢ / point |
| Gift cards | 0.54 ¢ / point |
| Merchandise | 0.50 ¢ / point |
| Statement credit | 0.33 ¢ / point |
| Average value | 0.67 ¢ / point |
NBC - NBC À la carte Rewards
The NBC À la Carte Rewards program offers points that can be used in a variety of ways: travel purchases, investment products, account credit, merchandise purchases and gift cards.
Since this program is generally for travelers, one of the best uses will be for buying travel products (airline tickets, hotels, Airbnb, cruises, car rentals, etc.). This explains the average value of 0.9¢ per point.
| Redemption | Value |
| Travel with Plan à la Carte NBC | 1¢ / point |
| Trips booked and paid for with the card (from 55,000 points) | 0.91¢ / point |
| Trips booked and paid for with the card | 0.83 ¢ / point |
| Investment products NBC | 0.83 ¢ / point |
| Gift cards | 0.78 ¢ / point |
| Merchandise | 0.60 ¢ / point |
| Statement credit | 0.40 ¢ / point |
| Average value | 0.9¢ / point |
CIBC - Aventura
The CIBC Aventura program offers points that can be used in a variety of ways: travel purchases, auctions, investment products, account credit, merchandise purchases, gift cards, experiences.
Since this program is generally intended for travelers, one of the best uses will be when buying travel products, especially airline tickets. This explains the average value of 1.2¢ per point.
| Redemption | Value |
| Fixed reward chart for flights | 2.3 ¢ / point |
| Trips booked and paid for with the card | 1¢ / point |
| Donations | 1¢ / point |
| CIBC Investment Products | 0.83 ¢ / point |
| Gift cards | 0.71 ¢ / point |
| Merchandise | 0.71 ¢ / point |
| Statement credit | 0.63 ¢ / point |
| Average value | 1.2 ¢ / point |
Desjardins - Bonusdollars
The Desjardins Bonidollars program offers points that can be used in a variety of ways: travel purchases, investment products, account credit, merchandise purchases, gift cards, experiences.
This program is simple, making it easy to exchange 1 Bonusdollars for $1. This explains the average value of $1 per point.
| Redemption | Value |
| Trips booked and paid for with the card | 1 $ / point |
| Desjardins investment products | 1 $ / point |
| Donations | 1 $ / point |
| Entertainment | 1 $ / point |
| Gift cards | 0.96$ / point |
| Merchandise | 0.90 $ / point |
| Average value | 1 $ / point |
MBNA - MBNA Rewards
The MBNA Rewards program offers points that can be used in a variety of ways: travel purchases, account credit, merchandise purchases, gift cards.
Since this program is generally intended for travelers, the best use will be for purchasing travel products (airline tickets, hotels, Airbnb, cruises, car rentals). This explains the average value of 1¢ per point.
| Redemption | Value |
| Trips booked and paid for with the card | 1¢ / point |
| Gift cards | 0.92 ¢ / point |
| Merchandise | 0.88 ¢ / point |
| Statement credit | 0.83 ¢ / point |
| Average value | 1¢ / point |
RBC - RBC Rewards
The RBC Rewards program offers flexible points. You can use them in a variety of ways: travel purchases, transfers to multiple airline loyalty programs, account credits, merchandise purchases, gift cards, etc.
Since this program is generally for travelers (Airline credit cards), the best use will be for obtaining airline tickets or transferring points to loyalty programs such as British Airways Executive Club. This explains the value of 1. 6¢ per point.
| Redemption | Value |
| Fixed reward chart for flights | 2.3 ¢ / point |
| Transfer to British Airways Executive Club | 1.7¢ / point |
| Transfer to Asia Miles | 1.5 ¢ / point |
| Transfer to American AAdvantage | 1.5 ¢ / point |
| Trips booked and paid for with the card | 1¢ / point |
| Transfer to WestJet Rewards | 1¢ / point |
| Transfer to HBC Rewards | 1¢ / point |
| Donations | 1¢ / point |
| RBC Investment Products | 0.8 ¢ / point |
| Merchandise | 0.75 ¢ / point |
| Gift cards | 0.7¢ / point |
| Statement credit | 0.58 ¢ / point |
| Average value | 1.6¢ / point |
For credit cards that do not allow points to be transferred to other programs, the value is 1¢ per point.
Scotia - Scene+
The Scotia Rewards program offers points that can be used in a variety of ways: travel purchases, donations, account credits, merchandise purchases, gift cards, experiences.
Since this program is generally for travelers, one of the best uses will be for buying travel products (airline tickets, hotels, Airbnb, cruises, car rentals, etc.). This explains the average value of 1¢ per point.
| Redemption | Value |
| Trips booked and paid for with the card | 1¢ / point |
| Merchandise (Best Buy, Apple) | 0.9¢ / point |
| Gift cards | 0.74 ¢ / point |
| Donations | 0.74 ¢ / point |
| Statement credit | 0.70 ¢ / point |
| Experiences | 0.60 ¢ / point |
| Average value | 1¢ / point |
TD - TD Rewards
The TD Rewards program offers points that can be used in a variety of ways: travel purchases, education, account credit, merchandise purchases, gift cards.
Since this program is generally intended for travelers, one of the best uses will be for purchasing travel products (airline tickets, hotels, cruises, car rentals, etc.). This explains the value of 0. 5¢ per point.
| Redemption | Value |
| Travel through Expedia for TD | 0.5 ¢ / point |
| Trips booked and paid for with the card | 0.4 ¢ / point |
| Education Products | 0.4 ¢ / point |
| Gift cards | 0.25 ¢ / point |
| Statement credit | 0.25 ¢ / point |
| Merchandise | 0.22 ¢ / point |
| Average value | 0.5 ¢ / point |
Airlines
Air Canada - Aeroplan
Aeroplan is Air Canada’s loyalty program. You can use your points in many ways: purchase airline tickets, merchandise, gift cards, etc.
As this program is intended for air travellers, the best use will be for purchasing airline tickets. This explains the value of2¢ per point.
| Redemption | Value |
| Flights (Business Class, First Class) | > 6 ¢ / point |
| Flights (Short-haul) | 4 ¢ / point |
| Flights (Medium-haul) | 3 ¢ / point |
| Airline ticket (Long-haul) | 2 ¢ / point |
| Gift cards (Air Canada) | 1¢ / point |
| Car rentals | 0.9¢ / point |
| Air Canada Vacation Packages | 0.83 ¢ / point |
| Hotels | 0.80 ¢ / point |
| Gift cards | 0.7¢ / point |
| Merchandise | 0.7¢ / point |
| Average value | 2 ¢ / point |
Alaska Airlines - Alaska Mileage Plan
The Alaska Mileage Plan is Alaska Airlines’ frequent flyer program. You can use your points in a variety of ways: purchase airline tickets, hotels, magazine subscriptions, etc.
As this program is intended for air travellers, the best use will be for purchasing airline tickets. This explains the value of2¢ per point.
| Redemption | Value |
| Flights (Business Class, First Class) | > 7 ¢ / point |
| Magazine subscriptions | 5 ¢ / point |
| Flights (Short-haul) | 4 ¢ / point |
| Flights (Medium-haul) | 3 ¢ / point |
| Airline ticket (Long-haul) | 2 ¢ / point |
| Hotels | 1¢ / point |
| Average value | 2 ¢ / point |
British Airways - Executive Club
The British Airways Executive Club program is British Airways’ frequent flyer program. You can use your miles in a variety of ways: purchase airline tickets, purchase merchandise, gift cards, etc.
As this program is intended for air travellers, the best use will be for purchasing airline tickets. This explains the averafe value of 1.7¢ per point.
| Redemption | Value |
| Flights (Business Class, First Class) | > 5 ¢ / point |
| Flights (Short-haul) | 3 ¢ / point |
| Flights (Medium-haul) | 2 ¢ / point |
| Airline ticket (Long-haul) | 1¢ / point |
| Car rentals | 0.8 ¢ / point |
| Hotels | 0.7¢ / point |
| Gift cards | 0.5 ¢ / point |
| Merchandise | 0.5 ¢ / point |
| Average value | 1.7¢ / point |
Cathay Pacific - Asia Miles
Asia Miles is Cathay Pacific’s frequent flyer program. You can use your miles in a variety of ways: purchase airline tickets, purchase merchandise, gift cards, etc.
As this program is intended for air travellers, the best use will be for purchasing airline tickets. This explains the average value of 1.5¢ per point.
| Redemption | Value |
| Flights (Business Class, First Class) | > 5 ¢ / point |
| Flights (Short-haul) | 2 ¢ / point |
| Flights (Medium-haul) | 1.5 ¢ / point |
| Airline ticket (Long-haul) | 1¢ / point |
| Hotels | 0.8 ¢ / point |
| Merchandise | 0.5 ¢ / point |
| Average value | 1.5 ¢ / point |
WestJet - WestJet Rewards
WestJet Rewards is WestJet’s loyalty program. You can use your WestJet dollars to purchase airline tickets or vacation packages.
This program is simple: 1 WestJet Dollar = $1. The average value is therefore $1 per point.
| Redemption | Value |
| Flights | 1 $ / point |
| Holiday packages | 1 $ / point |
| Average value | 1 $ / point |
Hotels
Best Western - Best Western Rewards
Best Western Rewards is Best Western’s loyalty program. You can use your points in many ways: hotel reservations, merchandise purchases, transfers to airline loyalty programs, gift cards, etc.
As this program is for travelers, the best use will be to book hotel nights. This explains the average value of 0.8¢ per point.
| Redemption | Value |
| Hotel nights | 0.8 ¢ / point |
| Best Western Gift Cards | 0.59 ¢ / point |
| Gift cards | 0.55 ¢ / point |
| Transfer to Aeroplan | 0.5 ¢ / point |
| Transfer to AIR MILES | 0.28 ¢ / point |
| Average value | 0.8 ¢ / point |
Hilton - Hilton Honors
Hilton Honors is the Hilton Honors loyalty program. You can use your points in a variety of ways: hotel reservations, car rentals, transfers to airline loyalty programs.
As this program is for travelers, the best use will be to book hotel nights. This explains the average value of 0.6¢ per point.
| Redemption | Value |
| Hotel nights | 0.6 ¢ / point |
| Transfer to Aeroplan | 0.25 ¢ / point |
| Car rentals | 0.2 ¢ / point |
| Average value | 0.6 ¢ / point |
Marriott - Marriott Bonvoy
The Marriott Bonvoy program is the loyalty program of Marriott Hotels. You can use your points in a variety of ways: hotel reservations, transfers to airline loyalty programs, vacation packages, merchandise, gift cards, airline tickets or car rentals.
As this program is for travelers, the best use will be to book hotel nights. This explains the average value of 0.9¢ per point.
| Redemption | Value |
| Hotel nights | 0.9¢ / point |
| Transfer to airline partners | 0.8 ¢ / point |
| Flights | 0.4 ¢ / point |
| Merchandise | 0.35 ¢ / point |
| Gift cards | 0.35 ¢ / point |
| Car rentals | 0.1 ¢ / point |
| Average value | 0.9¢ / point |
Other programs
AIR MILES
The AIR MILES program is one of the best known programs in Canada. You can use your DREAM miles for airfare, car rentals, theme park or show tickets, hotels, vacation packages or merchandise. You can use your CASH rewards for cash back.
The program has undergone several changes in 2021 with the introduction of a dynamic fare structure for flights, adapting to market rates.
| Redemption | Value |
| Show ticket | 20¢ / DREAM mile |
| Car rentals | 16¢ / DREAM mile |
| Amusement park tickets | 13¢ / DREAM mile |
| Cash Back (Promotion) | 13¢ / CASH mile |
| Flights | 12¢ / DREAM mile |
| Hotels | 12¢ / DREAM mile |
| Holiday packages | 11¢ / DREAM mile |
| Cash Back | 10,5¢ / CASH mile |
| Merchandise | 7¢ / DREAM mile |
| Average value | 11.5 ¢ / mile |
Canadian Tire - Triangle
Triangle Rewards is Canadian Tire’s loyalty program. You can use your Canadian Tire Money at participating retailers.
The value is simple: $1 Canadian Tire = $1
| Redemption | Value |
| Cash Back | 1 $ / point |
| Average value | 1 $ / point |
President's Choice - PC Optimum
The PC Optimum program is the loyalty program of President’s Choice retailers. You can use your PC Optimum points at participating retailers.
The value is 0.1¢ per point.
| Redemption | Value |
| Cash Back | 0.1 ¢ / point |
| Average value | 0.1 ¢ / point |