{"name":"Travel Points Math Points Value Index — September 2026","snapshot":"2026-09","inputsCheckedOn":"2026-09-15","publishedOn":"2026-09-15","publisher":"Travel Points Math","url":"https://travelpointsmath.com/index/2026-09","units":{"cpp":"US cents per card point or mile","ratio":"partner units received per 1 card point or mile","breakEvenPartnerCpp":"US cents per partner mile at which a transfer only matches the issuer's standard fixed rate"},"formulas":{"fixedRateValue":"dollars = points × rate_cpp ÷ 100","cppFromIssuerExample":"rate_cpp = dollars ÷ points × 100","transferValue":"dollars = points × ratio × partner_cpp ÷ 100","effectiveTransferCpp":"card_cpp = ratio × partner_cpp","breakEven":"partner_cpp_break_even = standard_fixed_cpp ÷ ratio"},"currencies":[{"key":"chase","program":"Chase Ultimate Rewards","unit":"point","cashOut":{"published":true,"rangeCpp":{"min":1,"max":1},"rates":[{"label":"Cash back or statement credit","cpp":1,"source":"chase-ur-how"}]},"travelPortal":{"published":true,"rangeCpp":{"min":1,"max":2},"rates":[{"label":"Chase Travel standard","cpp":1,"source":"chase-reserve"},{"label":"Points Boost ceiling: Sapphire Preferred, Ink Business Preferred, Ink Plus","cpp":1.5,"source":"chase-reserve"},{"label":"Points Boost ceiling: Sapphire Reserve, J.P. Morgan Reserve, Sapphire Reserve for Business","cpp":2,"source":"chase-reserve"}]},"transfer":{"airlineRatioRange":{"min":1,"max":1},"hotelRatioRange":{"min":0.75,"max":1},"standardFixedCpp":1,"airlineBreakEvenPartnerCppRange":{"min":1,"max":1},"hotelBreakEvenPartnerCppRange":{"min":1,"max":1.33}}},{"key":"amex","program":"Amex Membership Rewards","unit":"point","cashOut":{"published":true,"rangeCpp":{"min":0.6,"max":0.6},"rates":[{"label":"Cover eligible charges","cpp":0.6,"source":"amex-points-value"}]},"travelPortal":{"published":true,"rangeCpp":{"min":0.7,"max":1},"rates":[{"label":"Flights via Amex Travel","cpp":1,"source":"amex-points-value"},{"label":"Other Amex Travel, e.g. prepaid hotels","cpp":0.7,"source":"amex-points-value"}]},"transfer":{"airlineRatioRange":{"min":0.8,"max":1.6},"hotelRatioRange":{"min":0.25,"max":2},"standardFixedCpp":1,"airlineBreakEvenPartnerCppRange":{"min":0.63,"max":1.25},"hotelBreakEvenPartnerCppRange":{"min":0.5,"max":4}}},{"key":"citi","program":"Citi ThankYou Rewards","unit":"point","cashOut":{"published":true,"rangeCpp":{"min":0.5,"max":1},"rates":[{"label":"Strata Premier or Strata Elite","cpp":0.75,"source":"citi-points-to-dollars"},{"label":"Double Cash or Custom Cash","cpp":1,"source":"citi-points-to-dollars"},{"label":"Citi Strata or AT&T Points Plus","cpp":0.5,"source":"citi-points-to-dollars"}]},"travelPortal":{"published":true,"rangeCpp":{"min":1,"max":1},"rates":[{"label":"Citi Travel (all six cards Citi lists)","cpp":1,"source":"citi-points-to-dollars"}]},"transfer":{"airlineRatioRange":{"min":0.56,"max":1},"hotelRatioRange":{"min":0.35,"max":2},"standardFixedCpp":1,"airlineBreakEvenPartnerCppRange":{"min":1,"max":1.79},"hotelBreakEvenPartnerCppRange":{"min":0.5,"max":2.86}}},{"key":"capital-one","program":"Capital One miles","unit":"mile","cashOut":{"published":false,"rangeCpp":null,"rates":[]},"travelPortal":{"published":false,"rangeCpp":null,"rates":[]},"transfer":{"airlineRatioRange":{"min":0.6,"max":1},"hotelRatioRange":{"min":0.5,"max":2},"standardFixedCpp":null,"airlineBreakEvenPartnerCppRange":null,"hotelBreakEvenPartnerCppRange":null}}],"transferRatios":[{"group":"chase","label":"Chase (Sapphire Preferred / Reserve, Ink Business Preferred)","source":"chase-preferred-benefits","partners":[{"partner":"Aer Lingus AerClub","kind":"airline","from":1000,"to":1000,"ratio":1,"stated":"issuer says most partners transfer 1:1","breakEvenPartnerCpp":1},{"partner":"Air Canada 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Rewards","kind":"airline","from":1000,"to":1000,"ratio":1,"stated":"issuer says most partners transfer 1:1","breakEvenPartnerCpp":1},{"partner":"United MileagePlus","kind":"airline","from":1000,"to":1000,"ratio":1,"stated":"issuer says most partners transfer 1:1","breakEvenPartnerCpp":1},{"partner":"Virgin Atlantic Flying Club","kind":"airline","from":1000,"to":1000,"ratio":1,"stated":"issuer says most partners transfer 1:1","breakEvenPartnerCpp":1},{"partner":"IHG One Rewards","kind":"hotel","from":1000,"to":1000,"ratio":1,"stated":"issuer says most partners transfer 1:1","breakEvenPartnerCpp":1},{"partner":"Marriott Bonvoy","kind":"hotel","from":1000,"to":1000,"ratio":1,"stated":"issuer says most partners transfer 1:1","breakEvenPartnerCpp":1},{"partner":"World of Hyatt","kind":"hotel","from":1000,"to":750,"ratio":0.75,"breakEvenPartnerCpp":1.33},{"partner":"Wyndham Rewards","kind":"hotel","from":1000,"to":1000,"ratio":1,"stated":"issuer says most partners transfer 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SkyMiles","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Emirates Skywards","kind":"airline","from":1000,"to":800,"ratio":0.8,"breakEvenPartnerCpp":1.25},{"partner":"Iberia Club","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"JetBlue TrueBlue","kind":"airline","from":250,"to":200,"ratio":0.8,"breakEvenPartnerCpp":1.25},{"partner":"Qantas Frequent Flyer","kind":"airline","from":500,"to":500,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Qatar Airways Privilege Club","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Singapore Airlines KrisFlyer","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"British Airways Club","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Virgin Atlantic Flying Club","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Choice Privileges","kind":"hotel","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Hilton Honors","kind":"hotel","from":1000,"to":2000,"ratio":2,"breakEvenPartnerCpp":0.5},{"partner":"Marriott Bonvoy","kind":"hotel","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Leading Hotels of the World Leaders Club","kind":"hotel","from":1000,"to":250,"ratio":0.25,"breakEvenPartnerCpp":4}]},{"group":"citiPremium","label":"Citi (Strata Premier, Strata Elite, Prestige)","source":"citi-transfer","partners":[{"partner":"American AAdvantage","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Avianca LifeMiles","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Cathay Pacific Asia Miles","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Emirates Skywards","kind":"airline","from":1000,"to":800,"ratio":0.8,"breakEvenPartnerCpp":1.25},{"partner":"Etihad Guest","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"EVA Air Infinity MileageLands","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Air France-KLM Flying Blue","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"JetBlue TrueBlue","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Qantas Frequent Flyer","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Qatar Airways Privilege Club","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Singapore Airlines KrisFlyer","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Thai Royal Orchid Plus","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Turkish Airlines Miles&Smiles","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"Virgin Atlantic Flying Club / Virgin Red","kind":"airline","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1},{"partner":"ALL Accor","kind":"hotel","from":1000,"to":500,"ratio":0.5,"breakEvenPartnerCpp":2},{"partner":"Choice Privileges","kind":"hotel","from":1000,"to":1500,"ratio":1.5,"breakEvenPartnerCpp":0.67},{"partner":"Preferred Hotels I Prefer","kind":"hotel","from":1000,"to":2000,"ratio":2,"breakEvenPartnerCpp":0.5},{"partner":"Wyndham Rewards","kind":"hotel","from":1000,"to":1000,"ratio":1,"breakEvenPartnerCpp":1}]},{"group":"citiOther","label":"Citi (Strata, Double Cash, Custom Cash, ThankYou Preferred)","source":"citi-transfer","partners":[{"partner":"American AAdvantage","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"Avianca LifeMiles","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"Cathay Pacific Asia Miles","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"Emirates Skywards","kind":"airline","from":1000,"to":560,"ratio":0.56,"breakEvenPartnerCpp":1.79},{"partner":"Etihad Guest","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"EVA Air Infinity MileageLands","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"Air France-KLM Flying Blue","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"JetBlue TrueBlue","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"Qantas Frequent Flyer","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"Qatar Airways Privilege Club","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"Singapore Airlines KrisFlyer","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"Thai Royal Orchid Plus","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"Turkish Airlines Miles&Smiles","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"Virgin Atlantic Flying Club / Virgin Red","kind":"airline","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43},{"partner":"ALL Accor","kind":"hotel","from":1000,"to":350,"ratio":0.35,"breakEvenPartnerCpp":2.86},{"partner":"Choice Privileges","kind":"hotel","from":1000,"to":1050,"ratio":1.05,"breakEvenPartnerCpp":0.95},{"partner":"Preferred Hotels I Prefer","kind":"hotel","from":1000,"to":1400,"ratio":1.4,"breakEvenPartnerCpp":0.71},{"partner":"Wyndham Rewards","kind":"hotel","from":1000,"to":700,"ratio":0.7,"breakEvenPartnerCpp":1.43}]},{"group":"capitalOne","label":"Capital One (Venture family)","source":"capone-transfer","partners":[{"partner":"Aeromexico Rewards","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Air Canada Aeroplan","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Avianca LifeMiles","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"British Airways Club","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Cathay Pacific Asia Miles","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Etihad Guest","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Finnair Plus","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Air France-KLM Flying Blue","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Qantas Frequent Flyer","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Qatar Airways Privilege Club","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Singapore Airlines KrisFlyer","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"TAP Miles&Go","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Turkish Airlines Miles&Smiles","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Virgin Red","kind":"airline","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Emirates Skywards","kind":"airline","from":2,"to":1.5,"ratio":0.75,"breakEvenPartnerCpp":null},{"partner":"EVA Air Infinity MileageLands","kind":"airline","from":2,"to":1.5,"ratio":0.75,"breakEvenPartnerCpp":null},{"partner":"Japan Airlines Mileage Bank","kind":"airline","from":2,"to":1.5,"ratio":0.75,"breakEvenPartnerCpp":null},{"partner":"JetBlue TrueBlue","kind":"airline","from":5,"to":3,"ratio":0.6,"breakEvenPartnerCpp":null},{"partner":"Choice Privileges","kind":"hotel","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"Wyndham Rewards","kind":"hotel","from":1,"to":1,"ratio":1,"breakEvenPartnerCpp":null},{"partner":"I Prefer Hotel Rewards","kind":"hotel","from":1,"to":2,"ratio":2,"breakEvenPartnerCpp":null},{"partner":"Accor Live Limitless","kind":"hotel","from":2,"to":1,"ratio":0.5,"breakEvenPartnerCpp":null}]}],"sources":[{"id":"chase-ur-how","publisher":"Chase","title":"Chase Ultimate Rewards: How Our Program Works","url":"https://www.chase.com/personal/credit-cards/education/basics/how-chase-ultimate-rewards-works","checkedOn":"2026-09-15","says":"Each point is worth 1 cent when redeemed for cash back or a statement credit (10,000 points ≈ $100)."},{"id":"chase-reserve","publisher":"Chase","title":"Chase Sapphire Reserve card page (Points Boost disclosure)","url":"https://creditcards.chase.com/rewards-credit-cards/sapphire/reserve","checkedOn":"2026-09-15","says":"Points are worth $0.01 each through Chase Travel; with a Points Boost promotion on select flights and hotels, 100 points could be worth up to $1.50 (Sapphire Preferred, Ink Business Preferred, Ink Plus) or up to $2.00 (Sapphire Reserve, J.P. Morgan Reserve, Sapphire Reserve for Business)."},{"id":"chase-preferred-benefits","publisher":"Chase","title":"Chase Sapphire Preferred Benefits (Transfer Points panel)","url":"https://www.chase.com/sapphire-cards/personal/preferred","checkedOn":"2026-09-15","says":"Points transfer to “most travel partners at a rate of 1:1”; World of Hyatt transfers at 4:3 (1,000 → 750), except accounts opened before June 15, 2026 keep 1:1 to Hyatt through September 30, 2026. Lists 10 airline and 4 hotel partners."},{"id":"chase-transfer-how","publisher":"Chase","title":"How to transfer points through Chase Ultimate Rewards","url":"https://www.chase.com/personal/credit-cards/education/basics/how-to-transfer-chase-ultimate-rewards-points","checkedOn":"2026-09-15","says":"Transfers need a Sapphire Preferred, Sapphire Reserve, or Ink Business Preferred card; points move in 1,000-point increments."},{"id":"amex-points-value","publisher":"American Express","title":"How Much Are American Express Membership Rewards Points Worth? (Credit Intel)","url":"https://www.americanexpress.com/en-us/credit-cards/credit-intel/american-express-points-value/","checkedOn":"2026-09-15","pageDate":"2026-04-30","says":"Covering eligible charges: 0.6 cents per point. Flights booked through Amex Travel: 1 cent per point. Other Amex Travel purchases such as prepaid hotels: 0.7 cents per point. Most transfer partners are 1:1, with some exceptions."},{"id":"amex-transfer","publisher":"American Express","title":"Membership Rewards Transfer Partners (U.S.)","url":"https://global.americanexpress.com/rewards/transfer","checkedOn":"2026-09-15","says":"Lists 20 partners (16 airline, 4 hotel) with ratios, e.g. 1,000 points = 1,000 Delta miles; 1,000 = 800 Emirates Skywards miles; 1,000 = 2,000 Hilton Honors points."},{"id":"citi-points-to-dollars","publisher":"Citi ThankYou Rewards","title":"See what ThankYou Points are worth (Points to Dollars tool)","url":"https://www.thankyou.com/pointsTransparency.htm","checkedOn":"2026-09-15","says":"For 5,000 points: Cash Back (statement credit, direct deposit, or check) is $25.00 on Citi Strata and AT&T Points Plus, $37.50 on Strata Premier and Strata Elite, and $50.00 on Double Cash and Custom Cash; Travel is $50.00 on all six cards. “Redemption options and values vary by credit card selected.”"},{"id":"citi-transfer","publisher":"Citi ThankYou Rewards","title":"ThankYou Rewards Points Transfer partner listing","url":"https://www.thankyou.com/partnerProgramsListing.htm","checkedOn":"2026-09-15","says":"Each partner shows two rates by card: e.g. AAdvantage 1,000 → 1,000 for Strata Elite, Strata Premier, Prestige; 1,000 → 700 for ThankYou Preferred, Strata, Double Cash, Custom Cash."},{"id":"capone-transfer","publisher":"Capital One","title":"Capital One Miles Transfer Partners: A How-To Guide","url":"https://www.capitalone.com/learn-grow/money-management/venture-miles-transfer-partnerships/","checkedOn":"2026-09-15","pageDate":"2026-01-29","says":"14 airline partners at 1:1; Emirates, EVA Air, and Japan Airlines at 2:1.5; JetBlue at 5:3; Choice and Wyndham 1:1; I Prefer 1:2; Accor 2:1."},{"id":"capone-venture","publisher":"Capital One","title":"Venture Rewards card page","url":"https://www.capitalone.com/credit-cards/venture/","checkedOn":"2026-09-15","says":"Miles redeem “for statement credits, gift cards, travel and more”; footnote: “Redemption rates for these options may vary and are subject to change.” Its earnings slider frames 52,800 miles as “$528 toward travel.” No fixed per-mile cash-out or travel rate is published."}],"limitations":["Only rates printed on issuers' public U.S. pages are used; logged-in account screens, targeted offers, and business-card variants not named on those pages are excluded.","Travel-portal ceilings include promotional rates (Chase Points Boost) that apply only to select bookings.","No value per partner mile is asserted: it depends on the specific award and cash fare. Transfer mode is reported as ratios and break-even values.","Capital One publishes transfer ratios but no fixed cash-out or travel rate on the public pages checked, so those cells are 'not published'."]}