Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information about any information on any advertiser product, please visit their website. We have business relationships with certain partners mentioned in our communication channels. While we may receive compensation if you sign up to a product or service through our affiliate links, our analyses and content are based on objective evaluation. †Terms and conditions apply.
Discover our in-depth analysis on the value of reward points in Canada, offering valuable insights to maximize your benefits. Explore trends, best practices, and tips to optimize your savings.
Updated: January 1, 2025
You can use your rewards points in a variety of ways, depending on the terms and conditions of each rewards program:
Naturally, the best value will be obtained for what the rewards program was designed for, for example:
As a result, the value will vary greatly from one person to another depending on how they use their points.
At Milesopedia, we aim to establish an average value of what you can get from each rewards program. It also allows us to translate welcome bonuses from credit cards into cash value.
And just like currency, the value of points and miles changes regularly as each rewards program updates its rules, including devaluations, enhancements, and other changes.
That’s why this page lists Milesopedia’s semi-annual valuation of points and miles in Canada:
For each loyalty program, we have established a valuation of the reward point in cents. You will find the valuation of each program below.
For all credit card offers, we estimate the value of the welcome offer (bonus, annual fee discount) during the first year, to which is added the value of rewards earned based on your purchases indicated in the calculator for the 6 categories:
Net value in the first year = Value of the welcome bonus + Benefits (annual credit, lounges) + Rewards earned – First year annual fees
For the value of subsequent years, we take into account the rewards earned based on your purchases indicated in the calculator and any benefits offered.
Net value for subsequent years = Rewards earned + Benefits (annual credit, lounge access) – Annual fees
VIP lounges:
For credit cards offering airport lounge access, this benefit is calculated as follows:
Information: Credit cards with annual fees usually come with benefits such as annual credits, airport lounge access, or travel insurance. Keep this in mind when choosing a credit card or deciding whether to renew it each year.
The American Express Membership Rewards program offers the most flexible points in Canada. You can use them in multiple ways: flight purchases, transfer to several airline or hotel loyalty programs, Statement credit, merchandise purchases, gift cards, etc.
As this program is generally intended for travellers, the best use will be for obtaining flight tickets or transferring points to loyalty programs like Aeroplan. This explains the averafe value of 1.7¢ per point.
The BMO Rewards program offers points that can be used in multiple ways: travel purchases, investment products, Statement credit, merchandise purchases, gift cards, experiences.
As this program is generally intended for travellers, the best use will be for obtaining travel (flight tickets, hotels, cruises, car rentals). This explains the average value of 0.67¢ per point.
The NBC Rewards à la Carte program offers points that can be used in multiple ways: travel purchases, investment products, Statement credit, merchandise purchases, gift cards.
As this program is generally intended for travellers, one of the best uses will be for obtaining travel (flight tickets, hotels, Airbnb, cruises, car rentals, etc.). This explains the retained value of 0.9 ¢ per point.
The CIBC Aventura program offers points that can be used in multiple ways: travel purchases, auctions, investment products, Statement credit, merchandise purchases, gift cards, experiences.
Since this program is generally intended for travellers, one of the best uses will be when buying travel products, especially airline tickets. This explains the average value of 1.2¢ per point.
The Desjardins BONUSDOLLARS program lets you earn points that can be redeemed in multiple ways: travel purchases, investment products, account credits, merchandise, gift cards, and experiences.
This program is simple, making it easy to exchange 1 Bonusdollars for $1. This explains the average value of $1 per point.
The MBNA Rewards program offers points that can be used in multiple ways: travel purchases, Statement credit, merchandise purchases, gift cards.
As this program is generally intended for travellers, the best use will be for obtaining travel (flight tickets, hotels, Airbnb, cruises, car rentals). This explains the average value of 1¢ per point.
The RBC Rewards program offers flexible points. You can use them in multiple ways: travel purchases, transfer to several airline loyalty programs, Statement credit, merchandise purchases, gift cards, etc.
Since this program is generally aimed at travellers (with “AVION” credit cards), the best way to use your points is to redeem them for flight tickets or transfer them to loyalty programs such as British Airways Club. This explains the assumed value of 1.6 ¢ per point.
For credit cards that do not allow points to be transferred to other programs, the assumed value is 1 ¢ per point.
The Scene+ program offers points that can be used in multiple ways: travel purchases, donations, Statement credit, merchandise purchases, gift cards, experiences.
As this program is generally intended for travellers, one of the best uses will be for obtaining travel (flight tickets, hotels, Airbnb, cruises, car rentals, etc.). This explains the average value of 1¢ per point.
The TD Rewards program offers points that can be used in multiple ways: travel purchases, education, Statement credit, merchandise purchases, gift cards.
As this program is generally intended for travellers, one of the best uses will be for obtaining travel (flight tickets, hotels, cruises, car rentals, etc.). This explains the value of 0. 5¢ per point.
The Aeroplan program is the official loyalty program of Air Canada. You can use your points in multiple ways: booking flights, purchasing merchandise, gift cards, and more.
As this program is intended for air travellers, the best use will be for purchasing airline tickets. This explains the assigned value of 2 ¢ per point.
The Alaska Mileage Plan is Alaska Airlines’ loyalty 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. Ce qui explique la valeur retenue de 2 ¢ par point.
The British Airways Club program is the official loyalty program of British Airways. You can use your miles in multiple ways: purchasing flight 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 averafe value of 1.7¢ per point.
Asia Miles is Cathay Pacific’s frequent flyer program. You can use your miles in multiple ways: purchasing flight 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 average value of 1.5¢ per point.
The VIPorter program is the official loyalty program of Porter. You can use your points to book flights with Porter, Air Transat, and Alaska Airlines.
The retained value for VIPorter points is 1.5 ¢ per point.
WestJet Rewards is WestJet’s loyalty program. You can use your WestJet points to purchase flight tickets or vacation packages.
This program is straightforward: 1 WestJet point = 1 ¢. The assigned value is therefore 1 ¢ per point.
Best Western Rewards is Best Western’s loyalty program. You can use your points in multiple ways: booking hotel nights, purchasing merchandise, transferring to airline loyalty programs, gift cards, etc.
As this program is for travellers, the best use will be to book hotel nights. This explains the average value of 0.8¢ per point.
Hilton Honors is Hilton’s 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 travellers, the best use will be to book hotel nights. This explains the average value of 0.6¢ per point.
The Marriott Bonvoy program is Marriott hotels’ loyalty program. You can use your points in multiple ways: booking hotel nights, transferring to airline loyalty programs, vacation packages, merchandise, gift cards, flight tickets, or car rentals.
As this program is for travellers, the best use will be to book hotel nights. This explains the average value of 0.9¢ per point.
The AIR MILES program is one of the most well-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 miles for cashback.
The program underwent several changes in 2021 with the introduction of a dynamic pricing structure for flights, adapting to market rates.
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
The PC Optimum program is President’s Choice retailers’ loyalty program. You can use your PC Optimum points at participating retailers.
The value is 0.1¢ per point.
Savings are here (if you don’t see the sign-up form, please click here):
You can change your preferences or opt out at any time by clicking on one of the hyperlinks available at the bottom of each newsletter.
If you are already a subscriber and would like to unsubscribe, you can click on the link at the bottom of any of our e-mails.
