When I go to https://thepointsguy.com/guide/monthly-valuations/ , I see that an American Airlines AAdvantage mile is worth 1.7 cents, and a Wells Fargo point is 1.6 cent. But when I go to https://www.bankrate.com/credit-cards/travel/points-and-miles-valuations/#card , a AA mile and a Wells Fargo point are both work 1 cent.
So is right? Is there another web site that is more accurate than these 2 on the value of points?
Miles and points values are not set in stone, they vary. I just booked an AA one way flight for a mile value of 2.96 cents per mile, while another was 2.3 cents RT.
You can very easily see what your value for any airline would be in miles booking on their Website.
Therefore, there is no site to give you a true value, only an avg. at best.
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@longtimelurker wrote:
@redpat wrote:Miles and points values are not set in stone, they vary. I just booked an AA one way flight for a mile value of 2.96 cents per mile, while another was 2.3 cents RT.
You can very easily see what your value for any airline would be in miles booking on their Website.
Therefore, there is no site to give you a true value, only an avg. at best.
Right. The average is a little useful in evaluating SUB say, but you might do better or worse if you work at it. But the bankrate 1cpp just seems a lazy evaluation, it would be interesting to know how they arrived at that
ETA
They do give a lot of detail. I don't see the Amerocan Airline 1cpp there though
At some point I grabbed a valuation of 1.4 for AA, and that's the one I run with. Recent Marriott purchase came out at only 0.5 cents, oof.
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@villemiami wrote:When I go to https://thepointsguy.com/guide/monthly-valuations/ , I see that an American Airlines AAdvantage mile is worth 1.7 cents, and a Wells Fargo point is 1.6 cent. But when I go to https://www.bankrate.com/credit-cards/travel/points-and-miles-valuations/#card , a AA mile and a Wells Fargo point are both work 1 cent.
So is right? Is there another web site that is more accurate than these 2 on the value of points?
I have found that these great travel points sites, which can be very helpful in many other ways, are useless to me for the purpose of determining value of the points, because the ways their writers and testers use the cards are different than the way I would use the cards in my world.
E.g., they will say that a particular card's points are worth 4 cents per point, based on such transactions as upgrades to First Class on Singapore Airlines. But in my world, I will probably never fly first class or on Singapore Airlines, and I would consider the first class fares to be wildly overpriced to begin with.
So my method in valuing points is to look at the cash price of something I would actually pay for with my hard earned money, and compare the points price. In my travel world, which consists exclusively of budget travel, Jet Blue points were worth 1.2 cents to 1.5 cents, Hilton points were worth .4 cents to .45 cents, and Hyatt points were worth 1.5 cents to 3.5 cents. Also I valued Amex MR's at around 1 cent and Citi Thank You Points at 1.2 to 1.5 cents, based on their value in exchanges for Jet Blue points.
Unless one never ever travels, and would never have a travel use for the points, I think @FicoMike0 's valuation based on cash conversion is not helpful. I never ever would cash in a travel point for cash, because the cash price is always less than what value you could get in even the cheapest travel transactions.
@FicoMike0 wrote:Actually, I did take a quick look at the sub travel site before cashing. I only looked at hotel deals, since that's been my primary travel expense this year. It seemed peculiarly me, but they showed 24,000 points for the same room they offered for $225 cash. I saw no savings at all using points. Maybe usb connect is just a crap travel card. I only signed up for the $500 sub, lol. I liked it so much I got the shoppers card too. Usb actually allows you to use the points or cb you earn to pay the bill which includes purchases on which you earned the cb.
Compared to what? By my calculations your test showed the points to be worth .93 cents, which is a lot more than the Hilton and Marriott cards are worth, but less than the 1 cent you were able to achieve with cash redemption.
I'm sure other point systems, like amex and chase are worth more on travel. Then again, if some points pays for a $500 fare on united and I can book the same destination for $200 on southwest, it's not worth $500 in my value system.
In my value system as well. The reason I mentioned Jet Blue points, and the reason I valued them, is that Jet Blue was always giving me the best cash price for the places we were going to.