What are points and miles worth? April 2021 monthly valuations

2d ago

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One of the questions we are asked most often here at TPG U.K. is “How much is a point or mile worth?” The answer varies from person to person, and depends on how well you can maximise a particular loyalty currency. Still, some rewards are clearly worth more than others — our goal is to give you a sense of how they stack up.

These valuations are based on a combination of what we would pay to buy points if given the opportunity and the overall value we could get from redeeming them, factoring in variables like award availability, fees and change/cancellation policies. We encourage you to share your thoughts where you think we are off base (and on point, no pun intended), and we’ll take feedback from TPG readers into consideration when we regularly update the valuations.

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Given the ongoing outbreak of the novel coronavirus, we are still seeing a lot of uncertainty — and some analysts are saying travel won’t fully rebound until 2024.

PROGRAMME March 2021 VALUATIONS (PENCE) April 2021 VALUATIONS (PENCE)
Air Canada Aeroplan 1.3p 1.3p
American Airlines AAdvantage 1.2p 1.2p
American Express Membership Rewards 1.4p 1.4p
Alaska Mileage Plan 1.4p 1.4p
British Airways Avios 1.1p 1.1p
British Airways On Business Points 3.3p 3.3p
Delta SkyMiles 0.8p 0.8p
Emirates Skywards 0.9p 0.9p
Etihad Guest 1.1p 1.1p
Flying Blue (Air France/KLM) 1.0p 1.0p
Hilton Honors 0.4p 0.4p
HSBC Premier Rewards 0.6p 0.6p
IHG Rewards Club 0.4p 0.4p
Marriott Bonvoy 0.7p 0.7p
Lufthansa Miles & More 1.1p 1.1p
Radisson Rewards 0.3p 0.3p
Qantas Points 0.8p 0.8p
Qatar Qmiles 0.6p 0.6p
Singapore KrisFlyer 1.2p 1.2p
United MileagePlus 1.0p 1.0p
Virgin Atlantic Flying Club 1.2p 1.2p
World of Hyatt 1.5p 1.5p

Movers and Shakers

As noted above, the biggest news of the past couple of months has been the coronavirus outbreak. Some airlines have completely suspended operations during the pandemic, while others have filed for bankruptcy — which may or may not affect their respective frequent flyer programmes. We’ve also seen elite status extensions from almost every major airline and hotel programme, ensuring that loyal members can retain their benefits in 2021.

March’s big news was Alaska Airlines officially joining the Oneworld alliance. Members can earn miles on Oneworld partners immediately, while redemptions will start this summer. Likewise, Alaska elites gained Oneworld elite status benefits on 31 March 2021.

Another big announcement came in early April when Virgin Atlantic started allowing one-way awards on ANA. This means you can now book a one-way business class ticket from the U.K. to Japan, starting at 45,000 miles one-way. Remember, you can transfer American Express Membership Rewards to Virgin Atlantic Flying Club.

Delta also announced a promotion that awards bonus Medallion Qualifying Miles (MQM), Medallion Qualifying Segments (MQS) and Medallion Qualifying Dollars (MQD) on all flights through the end of the year. This includes award flights, which could make earning Delta elite status far easier for some travellers. This is extremely important during a pandemic where many current Delta elites aren’t travelling as much.

We also saw IHG make its new dynamic award pricing more volatile. This makes some awards more expensive and others cheaper, based on our initial tests. Because it’s still possible to get at least 0.4p in value per point, we’re not devaluing IHG Rewards points for now. But it’s worth keeping in mind if you’re sitting on a stash of IHG points.


This is The Points Guy UK’s permanent page for the most up-to-date valuations, so you can bookmark it and check back each month for updates. 

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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