What are points and miles worth? TPG's August 2026 monthly valuations

One of the questions people often ask us is, "How much is a point or mile worth?"

The true answer varies from point to point and person to person. It also depends on your travel goals and how much you maximize a particular loyalty currency. Still, some rewards are worth more than others, and our goal is to give you a sense of how they stack up.

What are credit card points and miles worth?

What are Bilt Points worth?

What are airline points and miles worth?

*Calculated using data provided by Points Path.

What are hotel points worth?

**Calculated using data from Gondola (a free hotel search and direct booking platform for frequent travelers).

Top points and miles news for August

TPG calculates new valuations for this guide each month. These valuations provide you with a benchmark for deciding whether to redeem rewards or pay cash for your travel. As such, our valuations are estimates of what a typical traveler can reasonably expect from a currency's most valuable everyday uses: hotel stays for hotel points, flights for airline miles and high-value transfer partners for transferable rewards.

We recently published a guide on how we determine our points and miles valuations. It's worth checking out that guide for all the details, but here's an overview.

For some airline programs (marked with an * above), our valuations are based on millions of searches captured by Points Path. Each valuation considers searches across the previous three months for travel within a defined 10-month period. We subtract taxes and fees from the comparable cash fare, divide the remainder by the miles required and take a trimmed average that strips out outliers at either end.

Valuations for select hotel programs (marked with an ** above) are based on data from Gondola. For our hotel valuations, we calculate the median of the data collected by Gondola. We consider stays that were bookable shortly before each valuation's publish date, but we only consider one-night stays.

Where the Points Path or Gondola data isn't deep enough, a small team of TPG experts determines the valuation using award pricing, availability, fees and the cost of buying the currency outright. We value fixed-value programs, such as Accor Live Limitless, at their exact rates.

Our valuations for transferable currencies are based on their cash-equivalent and travel-redemption floors, as well as the number and quality of their transfer partners.

To decide whether you'll get good value from your next redemption, divide the cash price, minus taxes and fees, by the required points, then compare that to TPG's valuation for the currency. Alternatively, you can use our handy points versus cash calculator to help you decide.

Related: How (and why) to calculate award redemption values

Top offers for earning points and miles in August

August's cobranded credit card offer of the month is the suite of Atmos Rewards credit cards, where you can earn up to 80,000 valuable bonus Atmos Rewards points, companion awards and more.

Here are some of the best welcome offers this month for those seeking a new travel rewards card that earns transferable points or miles.

• American Express Platinum Card®: Find out your offer and see if you are eligible for as high as 175,000 Membership Rewards points after spending $12,000 on purchases in the first six months of card membership. Welcome offers vary, and you may not be eligible for an offer.
• Chase Sapphire Reserve® (see rates and fees): Earn 100,000 bonus points after you spend $6,000 on purchases in the first three months from account opening.
• Chase Sapphire Reserve for Business℠ (see rates and fees): Earn 200,000 bonus points after you spend $30,000 on purchases within the first six months from account opening.
• Capital One Venture X Business: New applicants can earn 150,000 bonus miles after spending $30,000 on purchases in the first three months from account opening.
• Capital One Venture Rewards Credit Card: New cardholders can earn 75,000 bonus miles after spending $4,000 on purchases within the first three months from account opening.
• American Express® Gold Card: Find out your offer and see if you are eligible for as high as 100,000 Membership Rewards points after spending $8,000 on purchases within the first six months of card membership. Welcome offers vary, and you may not be eligible for an offer.