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Direct answer: Using the issuers' own numbers: Chase points are worth 1 cent through Chase Travel, up to 1.5 or 2 cents with Points Boost; Amex points 1 cent on flights through Amex Travel but 0.6 cents covering charges; Capital One miles 1 cent toward travel. Citi doesn't publish a value.
By the numbers: American Express says 50,000 points could cover a $500 plane ticket through Amex Travel (1 cent each) but cover eligible charges at 0.6 cents per point. Source: American Express, last updated Apr. 30, 2026
“Points earned with your card are worth $0.01 each when redeemed through Chase Travel.” — Chase, Sapphire Reserve card terms
Updated 2026-10-20
Chase says points are worth $0.01 each through Chase Travel and through Pay Yourself Back on non-promotional purchases, and $0.008 at Amazon.com or PayPal checkout. Points Boost offers on select flights and hotels can make them worth up to 1.5 cents (Sapphire Preferred, Ink Business Preferred, Ink Plus) or 2 cents (Sapphire Reserve cards).
In American Express's own Platinum Card examples: 1 cent for flights through Amex Travel, 0.7 cents for other prepaid travel like hotels, up to 1 cent for gift cards, 0.7 to 1 cent with Pay with Points at checkout, and 0.6 cents to cover charges on your statement.
Capital One says 10,000 miles equal $100 toward travel, which is 1 cent per mile, and shows 52,800 miles as a $528 value. Its public pages we read did not state a value for cash back or gift cards, so check your account first.
Citi doesn't publish one number. It says ThankYou point values may vary depending on your card and the reward, and its terms say point value may vary. Log in at ThankYou.com to see the dollar value before redeeming.
The banks publish transfer ratios, not a dollar value for the partner's miles. What a transferred mile is worth depends on the award you book, so we don't put a number on it. Compare the award's cash price to the points it costs before you transfer, because transfers are final.
Among the issuer-published options, the lowest are Amex Cover Your Charges at 0.6 cents per point and Chase Amazon/PayPal checkout at 0.8 cents. Using the same points through the issuer's travel site is worth 1 cent each, so 60,000 Amex points are $600 on flights versus $360 against charges.
As of Oct. 20, 2026
Use the issuer's 1-cent travel option, and only redeem for less if you've decided the cash matters more. For Chase, book through Chase Travel (or Pay Yourself Back), and look for a Points Boost tag on the trip you want. For Amex, book flights through Amex Travel instead of covering charges. For Capital One, use miles toward travel. For Citi, check the dollar value in your account, because Citi doesn't publish one.
The math:
Sources: Chase Sapphire Reserve page · Chase Ultimate Rewards · Amex: points worth · Capital One Venture X · Citi ThankYou FAQ
A best fit for the situation described, not financial advice or a buy/sell recommendation. Partner links never change a pick.
Uses only the issuer's published rate. Fees and taxes on award bookings are not included.
| Program | Way to redeem | Value per point | Note | Source |
|---|---|---|---|---|
| Chase Ultimate Rewards | Book through Chase Travel | 1¢ | Every Ultimate Rewards card. | Chase Sapphire Reserve page |
| Chase Ultimate Rewards | Points Boost on select flights/hotels (Sapphire Preferred, Ink Business Preferred, Ink Plus) | 1¢ to 1.5¢ | Up to 1.5 cents. Promotional; only on trips tagged Points Boost. | Chase Sapphire Reserve page |
| Chase Ultimate Rewards | Points Boost on select flights/hotels (Sapphire Reserve, J.P. Morgan Reserve, Sapphire Reserve for Business) | 1¢ to 2¢ | Up to 2 cents. Promotional; only on trips tagged Points Boost. | Chase Sapphire Reserve page |
| Chase Ultimate Rewards | Pay Yourself Back statement credit (purchases not in a promotional category) | 1¢ | Purchases in the last 90 days. | Chase Ultimate Rewards |
| Chase Ultimate Rewards | Pay with points at Amazon.com or PayPal checkout | 0.8¢ | Chase Ultimate Rewards | |
| Amex Membership Rewards | Flights booked through American Express Travel | 1¢ | Amex's example uses the Platinum Card. | Amex: points worth |
| Amex Membership Rewards | Other prepaid travel through Amex Travel (e.g. hotels) | 0.7¢ | Amex: points worth | |
| Amex Membership Rewards | Gift cards | 1¢ | "Up to" 1 cent, depending on the brand; we use 1 cent as the top. | Amex: points worth |
| Amex Membership Rewards | Pay with Points at checkout (participating brands) | 0.7¢ to 1¢ | Amex: points worth | |
| Amex Membership Rewards | Cover eligible charges on your statement | 0.6¢ | Amex: points worth | |
| Capital One miles | Capital One Travel or cover a recent travel purchase | 1¢ | Capital One: 10,000 miles = $100 toward travel. | Capital One Venture X |
| Capital One miles | Cash back, gift cards | Not published | Not published on the public pages we read; check your account before redeeming. | Capital One: redeem miles |
| Citi ThankYou | Any redemption | Not published | Citi says values vary by card and reward; log in at ThankYou.com to see yours. | Citi ThankYou FAQ |
¢ = cents per point or mile, as the issuer states it. "Up to" values are the most the issuer says you can get.
Values change. These are the issuers' published figures on the dates shown. Your card's terms and the amount shown in your account at redemption are what count.
Chase says points are worth $0.01 each through Chase Travel and through Pay Yourself Back on non-promotional purchases, and $0.008 at Amazon.com or PayPal checkout. Points Boost offers on select flights and hotels can make them worth up to 1.5 cents (Sapphire Preferred, Ink Business Preferred, Ink Plus) or 2 cents (Sapphire Reserve cards).
In American Express's own Platinum Card examples: 1 cent for flights through Amex Travel, 0.7 cents for other prepaid travel like hotels, up to 1 cent for gift cards, 0.7 to 1 cent with Pay with Points at checkout, and 0.6 cents to cover charges on your statement.
Capital One says 10,000 miles equal $100 toward travel, which is 1 cent per mile, and shows 52,800 miles as a $528 value. Its public pages we read did not state a value for cash back or gift cards, so check your account first.
Citi doesn't publish one number. It says ThankYou point values may vary depending on your card and the reward, and its terms say point value may vary. Log in at ThankYou.com to see the dollar value before redeeming.
The banks publish transfer ratios, not a dollar value for the partner's miles. What a transferred mile is worth depends on the award you book, so we don't put a number on it. Compare the award's cash price to the points it costs before you transfer, because transfers are final.
Among the issuer-published options, the lowest are Amex Cover Your Charges at 0.6 cents per point and Chase Amazon/PayPal checkout at 0.8 cents. Using the same points through the issuer's travel site is worth 1 cent each, so 60,000 Amex points are $600 on flights versus $360 against charges.
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