Discover our in-depth analysis of the value of reward points in Canada, offering valuable insights to maximize your benefits. Explore trends, best practices and tips for optimizing your savings.
Update: January 1, 2025
You can use your reward points in a variety of ways, depending on the terms and conditions of each reward program:
Naturally, the best value will be obtained for what the reward program was made for, for example:
As a result, the value will vary greatly from one person to another, depending on its use.
On Milesopedia, we establish an average value of what you can get from each program. It also allows us to translate welcome bonuses from credit cardsinto cash value.
And like currencies, the value of points and miles change regularly as the rules of each reward program are modified: devaluations, upgrades, etc.
Hence, this page lists the semi-annual value of points and miles in Canada according to Milesopedia:
We have established a valuation of the reward point in cents for each loyalty program. You will find the valuation of each program below.
For all credit card offers, we estimate the value of the welcome offer (bonus, discount on annual fees) in the first year, to which is added the value of the rewards earned based on your purchases indicated in the calculator for the six categories:
First-year net value = Value of welcome bonus + Benefits (annual credit, lounges) + Rewards earned – First-year annual fee
For the value of subsequent years, we consider the earned rewards based on your purchases indicated in the calculator and any benefits offered.
Net value in subsequent years = Rewards earn + Benefits (annual credit, lounges) – Annual fees
VIP lounges:
For credit cards offering access to airport lounges, this benefit is calculated as follows:
Information: credit cards with annual fees usually come with benefits such as annual credits, access to airport lounges or travel insurance. Please consider this when choosing a card or at annual renewal.
The American Express Membership Rewards program offers the most flexible points program in Canada. You can use them in a wide variety of ways: to purchase airline tickets, transfer them to various airline or hotel loyalty programs, use statement credit, purchase merchandise, use gift cards, and more.
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.
The BMO Rewards program offers points that can be used in a variety of ways: travel purchases, investment products, statement credit, merchandise purchases, gift cards and experiences.
As this program generally aims at travellers, the best use will be for travel (flights, hotels, cruises, car rentals). This explains the average value of 0.67¢ per point.
The NBC À la carte Rewards program offers points that can be used in various ways: travel purchases, investment products, statement credit, merchandise purchases and gift cards.
As this program is generally aimed at travelers, one of the best uses will be for obtaining travel (plane tickets, hotels, Airbnb, cruises, car rentals, etc.). This explains the average value of 0.9¢ per point.
The CIBC Aventura program offers points that can be used in various ways: travel purchases, auctions, investment products, Statement credit, merchandise purchases, gift cards and 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 offers points that can be used in various ways: travel purchases, investment products, statement credit, merchandise purchases, 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 various ways: travel purchases, statement credit, merchandise purchases and gift cards.
As this program generally aims at travellers, the best use will be for travel (plane 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 a variety of ways: travel purchases, transfers to various airline frequent flyer programs, statement credit, merchandise purchases, gift cards, and more.
Since this program is generally for frequent flyers, the best use will be for booking flights or transferring points to loyalty programs such as British Airways Executive Club. This explains the value of 1. 6¢ per point.
For credit cards that do not allow points to be transferred to other programs, the value is 1¢ per point.
The program Scene+ offers points that can be used in various ways: travel purchases, donations, Statement credit, merchandise purchases, gift cards and experiences.
As this program is generally aimed at travelers, one of the best uses will be for obtaining travel (plane 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 various ways: travel purchases, education, statement credit, merchandise purchases and gift cards.
As this program is generally aimed at travellers, one of its best uses will be for travel (plane tickets, hotels, cruises, car rentals, etc.). This explains the value of 0. 5¢ per point.
The program Aeroplan is Air Canada’s loyalty program. You can use your points in a variety of ways: purchase of 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.
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.
The British Airways Executive Club is the British Airways frequent flyer program. You can use your miles in a variety of ways: purchase of airline tickets, 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 averafe value of 1.7¢ per point.
Asia Miles is Cathay Pacific’s frequent flyer program. You can use your miles in a variety of ways: purchase of airline tickets, 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 average value of 1.5¢ per point.
VIPorter is Porter’s loyalty program. You can use your points to purchase flights with Porter, Air Transat and Alaska Airlines.
VIPorter points are valued at 1.5¢ per point.
WestJet Rewards is WestJet’s loyalty program. You can use your WestJet points to purchase airline tickets or vacation packages.
The program is simple: 1 WestJet point = 1¢. The value is therefore 1¢ per point.
Best Western Rewards is Best Western’s loyalty program. You can use your points in various 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.
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 travelers, 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 various 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.
The AIR MILES program is one of Canada’s best-known programs. 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 many changes for 2021, with the introduction of a dynamic fare 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 redeem 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):
