What are points and miles worth? TPG’s July 2026 monthly valuations – Image for illustrative purposes only (Image credits: Unsplash)
Many frequent travelers are now reassessing how they use accumulated rewards after fresh valuations placed different worth on points and miles across major programs. These monthly updates from The Points Guy reflect both market data and program changes, which can alter the real cost of an award ticket or hotel stay. For cardholders and loyalty members, the differences matter most when planning trips later this year or into 2027.
Chase Sapphire Preferred Refresh Brings Mixed Results for Cardholders
The Chase Sapphire Preferred card received several updates effective in mid-June 2026. Cardholders now earn three points per dollar on gas stations, electric vehicle charging, and select vacation rentals through platforms such as Airbnb and Vrbo. The annual travel credit doubled to $100, which helps offset the unchanged $95 fee for many users.
Yet the transfer ratio to World of Hyatt points moved from one-to-one to four-to-three for new applicants approved on or after June 15. Existing cardholders retain the original ratio until October 1. At the same time, the card revived its highest public welcome bonus of 100,000 points after $5,000 in spending within three months.
Airline Programs Show Both Gains and Declines
Several airline currencies increased in estimated value this month. Air Canada Aeroplan rose to 1.5 cents per point, Alaska Airlines Atmos Rewards reached 1.55 cents, Avianca LifeMiles moved to 1.45 cents, Flying Blue climbed to 1.55 cents, and Virgin Atlantic Flying Club advanced to 1.5 cents. These adjustments stem from updated data on award availability and redemption options.
Other programs moved lower. American Airlines AAdvantage dropped to 1.4 cents per mile, while United MileagePlus fell to 1.3 cents. Delta SkyMiles remained at 1.2 cents amid route adjustments that include restored service to Costa Rica from New York and new flights from its Austin hub.
Hotel Loyalty Currencies Record Modest Increases
Hotel programs also posted changes. Choice Privileges rose to 0.7 cents per point, Hilton Honors advanced to 0.4 cents, IHG One Rewards reached 0.6 cents, and World of Hyatt increased to 1.6 cents. These figures incorporate recent data on award pricing and occupancy patterns.
Wyndham Rewards stayed at 0.7 cents while preparing to introduce four award tiers, with top properties priced up to 45,000 points. Accor Live Limitless held steady at 2.0 cents, the highest among hotel currencies tracked.
Current Card Offers Highlight Transferable Rewards Options
Several premium cards carry elevated welcome bonuses this month. The Delta SkyMiles Reserve American Express Card offers up to 125,000 miles after meeting spending thresholds by July 15. The Chase Sapphire Reserve provides 100,000 points after $6,000 in three months, and the Capital One Venture X Business card delivers 150,000 miles after $30,000 in three months.
American Express cards such as the Platinum and Gold continue to feature targeted offers that can reach 175,000 and 100,000 Membership Rewards points respectively, though eligibility varies by applicant. These promotions allow new cardholders to build balances in programs that transfer to multiple airlines and hotels.
| Program | July 2026 Value (cents) | Change |
|---|---|---|
| World of Hyatt | 1.6 | Up from 1.55 |
| Flying Blue | 1.55 | Up from 1.3 |
| Alaska Airlines Atmos Rewards | 1.55 | Up from 1.4 |
| American Airlines AAdvantage | 1.4 | Down from 1.6 |
| United MileagePlus | 1.3 | Down from 1.35 |
These valuation adjustments ultimately affect how travelers weigh the return on their spending and which programs they prioritize for future redemptions. Individuals holding balances across multiple currencies may find it worthwhile to compare current award charts before locking in summer or fall travel.
