What are points and miles worth? TPG’s November 2025 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.

Historically, TPG has valued points and miles based on a combination of factors: the price at which we would purchase the points or miles, award costs in the program (factoring in availability and fees), and our expertise in the program's inner workings. However, we now utilize extensive data for the top seven U.S. airline loyalty programs to more accurately estimate the value you should aim to achieve from your rewards. Read our explainer post on our data-driven valuations for a full methodology breakdown.

What are credit card points and miles worth?

What are Bilt Rewards Points worth?

What are airline points and miles worth?

*Calculated using TPG's data-backed valuations methodology launched in September 2023.

What are hotel points worth?

Top points and miles news

The new United-JetBlue Blue Sky partnership is the top points and miles news from the last month. This new partnership allows JetBlue TrueBlue members to redeem points for United-operated flights, and United MileagePlus members to redeem miles for JetBlue-operated flights. While it's not a full merger or codeshare, it marks the first time the two competitors have opened reciprocal redemption options.

However, early analysis by TPG shows that redemption pricing is often high through the partner program.

At the time of publication, TrueBlue members could book flights operated by JetBlue from as low as 1,800 TrueBlue points from Orlando International Airport (MCO) to Newark Liberty International Airport (EWR). In contrast, flights operated by United on the same route (and even the same day) start at 36,900 TrueBlue points.

If you choose to redeem United miles, it's a better deal on this route to fly United for just 7,700 MileagePlus miles, compared with paying 20,000 MileagePlus miles for JetBlue-operated flights.

Also note that the JetBlue TrueBlue program charges higher rates for United-operated flights booked close to departure compared with booking well in advance.

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The Blue Sky alliance adds flexibility and novelty, but, at least for now, doesn't deliver especially strong redemption value through partner bookings. Where you can transfer credit card rewards to JetBlue or United, you'll likely get the best rates by transferring to the loyalty program of the operating airline.

Deal alert: Points and miles travel deals for November 2025

Top offers for earning points and miles in November

Here are some of the other best options this month if you're looking for a new travel rewards card that earns transferable points or miles.

American Express Platinum Card

Find out your offer on the American Express Platinum Card and see if you are eligible for as high as 175,000 Membership Rewards points after spending $8,000 on purchases in the first six months of card membership. Welcome offers vary, and you may not be eligible for an offer.

There are a host of new benefits for the recently refreshed Platinum Card, including the following new statement credits:

• Up to a $75 quarterly Lululemon statement credit for purchases made at U.S. stores (excluding outlets) and online**
• Up to a $200 annual Oura Ring statement credit (for hardware purchases only; not for memberships)**
• Up to a $100 quarterly statement credit for U.S. Resy restaurant purchases**
• Up to a $120 annual statement credit for Uber One membership (subject to auto-renewal)**

The card's hotel statement credit increased to up to $600 each year (up to $300 biannually) when you book prepaid American Express Fine Hotels + Resorts or The Hotel Collection stays via American Express Travel®, and the digital entertainment statement credit has been raised to up to $25 per month, with Paramount+, YouTube Premium and YouTube TV added.**

**Enrollment is required.

The annual fee is now $895 (see rates and fees). To learn more about all the changes, including new hotel status and dining perks, check out our full review of the American Express Platinum Card.

Official application link: American Express Platinum Card

Chase Sapphire Reserve

The Chase Sapphire Reserve® (see rates and fees) currently offers 125,000 bonus points after you spend $6,000 on purchases in the first three months from account opening.

The recently refreshed card has updated earning rates, including 8 points per dollar spent on purchases made through Chase Travel℠ (including The Edit hotel bookings), 4 points per dollar spent on flights booked directly and 4 points per dollar spent on hotels booked directly.

The new annual fee is $795, but cardholders will get up to $500 in statement credits for hotel bookings made with The Edit each calendar year (up to $250 in credits biannually on prepaid bookings with The Edit of two or more nights), up to $300 in statement credits each calendar year for dining at restaurants that are part of Sapphire Reserve Exclusive Tables (up to $150 in credits biannually) and more.

Check out our Chase Sapphire Reserve card review to learn more.

Official application link: Chase Sapphire Reserve

Chase Sapphire Reserve for Business

Chase recently unveiled a brand-new business card, the Chase Sapphire Reserve for Business℠ (see rates and fees). This card has a massive welcome offer of 200,000 bonus points after you spend $30,000 on purchases in the first six months from account opening.

This product earns 8 points per dollar spent on purchases through Chase Travel (including The Edit), 4 points per dollar spent on flights and hotels booked directly, and 3 points per dollar spent on social media and search engine advertising. It comes with multiple flexible statement credits but has an annual fee of $795.

See our Chase Sapphire Reserve for Business card review for more information.

Official application link: Chase Sapphire Reserve for Business

Capital One Venture X Rewards Credit Card

The Capital One Venture X Rewards Credit Card is a compelling option due to its great earning rates and included perks. The card currently has a welcome offer of 100,000 bonus miles after you spend $10,000 on purchases within the first six months from account opening.

You'll earn at least 2 miles per dollar spent on purchases and get access to various useful benefits, including a $300 annual credit for bookings through Capital One Travel, 10,000 bonus miles each account anniversary and complimentary access to Capital One airport lounges.

Check out our Capital One Venture X Rewards card review for more details.

Learn more: Capital One Venture X Rewards Credit Card

Capital One Venture Rewards Credit Card

The Capital One Venture Rewards Credit Card offers 75,000 bonus miles after you spend $4,000 on purchases within the first three months from account opening. The annual fee for the Capital One Venture card is $95 — a reasonable amount for a card with such a generous welcome offer.

See our Capital One Venture Rewards card review for more details.

Learn more: Capital One Venture Rewards Credit Card

American Express Gold Card

One of the most popular cards with TPG staffers, the American Express® Gold Card lets new cardholders find out their offer and see if they are eligible for as high as 100,000 Membership Rewards points after they spend $6,000 on purchases within the first six months of card membership. Welcome offers vary, and you may not be eligible for an offer.

The American Express Gold Card is great for many everyday purchases. You'll earn 4 points per dollar spent on groceries at U.S. supermarkets (on up to $25,000 in purchases per calendar year, then 1 point per dollar spent) and 4 points per dollar spent at restaurants worldwide (on up to $50,000 in purchases per calendar year, then 1 point per dollar spent).

The card has a $325 annual fee (see rates and fees), so check out our Amex Gold review to determine whether it's a good fit.

Official application link: American Express Gold Card

For rates and fees of the Amex Platinum, click here.
For rates and fees of the Amex Gold, click here.