The Points Standard Index · Oct 1, 2026
What your points are actually worth.
The canonical CAD value of every major Canadian loyalty currency: Aeroplan, Amex Membership Rewards, RBC Avion, Scene+, Avios, and more. Two numbers per program: the Standard value an informed user can realistically achieve, and the easy floor anyone can get without effort, plus a confidence rating and the month-over-month move.
Two numbers, one program
Aeroplan
- Easy floor
- 1.00¢
- Standard value
- 1.90¢
What anyone gets with no planning at all.
What an informed, ordinary traveller should expect.
Every dollar figure on this site (every welcome-offer value, every first-year net, every score) is computed at the Standard mark.
The Index at a glance
Highest Standard values this month
13 programs are marked monthly; the complete index, sortable with confidence ratings and the basis for every number, is below.
13 programs
Every program we mark
Sortable, with the confidence rating and the published basis for each mark. This is the table every other number on the site is computed from.
Sorted by standard value (high to low).
| Program | Standard value | Easy floor | MoM change | 6-month trend | Confidence | Last updated |
|---|---|---|---|---|---|---|
| Aeroplan | 1.90¢ | 1.00¢ | flat | Trend over 6 readings: from 2.10 to 1.90 cents. | Medium confidence | 2026-10-01 |
| Basis for AeroplanBusiness-class partner redemptions vs. ~1.0-1.5¢ on economy dynamic pricing; marked down for the June 1, 2026 award-chart increases (+7-21% on premium long-haul). Excludes taxes and fees paid in cash | ||||||
| Amex Membership Rewards | 1.90¢ | 1.00¢ | flat | Trend over 6 readings: from 2.00 to 1.90 cents. | Medium confidence | 2026-10-01 |
| Basis for Amex Membership Rewards1:1 Aeroplan transfers set the ceiling (marked down with Aeroplan's June 2026 chart); Flying Blue now transfers 1:1; 1¢ statement/travel credit sets the floor | ||||||
| RBC Avion | 1.60¢ | 1.00¢ | flat | Trend over 6 readings: from 1.60 to 1.60 cents. | Medium confidence | 2026-10-01 |
| Basis for RBC AvionAir Travel Redemption Schedule on short-haul flights; 1¢ via gift cards | ||||||
| British Airways Avios | 1.60¢ | 0.80¢ | flat | Trend over 6 readings: from 1.70 to 1.60 cents. | Low confidence | 2026-10-01 |
| Basis for British Airways AviosShort-haul partner awards on Alaska/AA; BA-metal value trimmed by the May 2026 Reward Flight Saver cash-element increase (+10-33%). Poor value on cash-style redemptions | ||||||
| Asia Miles | 1.50¢ | 0.70¢ | flat | Trend over 5 readings: from 1.50 to 1.50 cents. | Medium confidence | 2026-10-01 |
| Basis for Asia MilesThree Canadian valuators (Prince of Travel, Milesopedia, Frugal Flyer) put Cathay Pacific Asia Miles at 1.5–1.6¢ CAD in 2026, corroborated by Frequent Miler's 1.1¢ USD RRV. We mark 1.5¢: a floor near 0.7¢ for non-flight redemptions (Cathay Shop, hotels, car rentals) and a ~3¢ ceiling for a well-booked long-haul oneworld business award, excluding rare Cathay First flagship space. Reflects the April 2025 and May 2026 award-chart increases; fuel surcharges on carriers like BA and Qatar erode value, so the mark assumes surcharge-aware booking. Promoted from an off-index reference rate to a full Index row in the July 2026 cycle | ||||||
| CIBC Aventura | 1.25¢ | 1.00¢ | flat | Trend over 6 readings: from 1.25 to 1.25 cents. | Medium confidence | 2026-10-01 |
| Basis for CIBC AventuraFlight Rewards chart sweet spots; 1¢ standard travel redemptions | ||||||
| Scene+ | 1.00¢ | 1.00¢ | flat | Trend over 6 readings: from 1.00 to 1.00 cents. | High confidence | 2026-10-01 |
| Basis for Scene+Fixed 1¢ on travel and most redemptions: simple, no upside | ||||||
| WestJet points | 1.00¢ | 1.00¢ | flat | Trend over 6 readings: from 1.00 to 1.00 cents. | High confidence | 2026-10-01 |
| Basis for WestJet pointsFixed 1¢ per point on WestJet fares (100 points = $1 off base fares; taxes and fees redeemable at 105–110 points per $1). Formerly WestJet Dollars, converted 1:100 in April 2025 | ||||||
| National Bank Rewards | 1.00¢ | 0.40¢ | flat | Trend over 5 readings: from 1.00 to 1.00 cents. | Medium confidence | 2026-10-01 |
| Basis for National Bank RewardsRealized value depends on the redemption: points are worth 1¢ each booked through the À la carte Rewards travel portal (the informed standard), roughly 0.8¢ as gift cards, and only about 0.4¢ taken as a statement credit against a purchase. No airline or hotel transfer partners and no award chart, so the travel portal's 1¢ is the ceiling. Promoted from an off-index reference rate to a full Index row in the July 2026 cycle | ||||||
| Marriott Bonvoy | 0.90¢ | 0.70¢ | flat | Trend over 5 readings: from 0.90 to 0.90 cents. | Low confidence | 2026-10-01 |
| Basis for Marriott BonvoyEveryday, mid-market Bonvoy redemptions return roughly 0.7–1.0¢ CAD per point against cash rates; that band is our own, and its floor is the easy-floor figure beside this row. The published third-party estimates genuinely disagree, so what follows names the currency behind each: a US analysis and a Canadian one are not the same number, and folding them into one band is what we were doing wrong before. Stated in CAD: Milesopedia marks 0.90¢ CAD outright (re-checked 2026-08-02; they publish a 0.5–1.5¢ range by use case and settle on 0.9¢), and Prince of Travel's Q2 2026 update puts typical mid-tier properties nearer 0.8¢. Stated in USD: FrequentMiler's multi-million-redemption work has landed between 0.73¢ and 0.77¢, and WalletHub's 2026 estimate is 0.79¢. Converting those at the Bank of Canada's 2026-07-31 rate of 1 USD = 1.4029 CAD gives 1.02–1.11¢ CAD, at or ABOVE our mark, not below it. Normalized to one currency the four sources span about 0.8–1.11¢ CAD, and 0.9¢ sits inside that rather than at the top of it. We hold card math at 0.9¢ CAD on that basis: the Canadian source that states its currency says 0.9¢, and nothing in the US data argues for less once converted. Reviewed 2026-08-02 and deliberately held rather than re-marked. Confidence stays low because the spread is real, not because the sources are weak. Promoted from an off-index reference rate to a full Index row on 2026-07-16 (unchanged figure). Excludes rare flagship/peak-demand redemptions, which run well above this and are not representative; see the guide for why we don't chase that headline number | ||||||
| BMO Rewards | 0.67¢ | 0.67¢ | flat | Trend over 6 readings: from 0.67 to 0.67 cents. | High confidence | 2026-10-01 |
| Basis for BMO RewardsFixed 150 points = $1 on travel | ||||||
| TD Rewards | 0.50¢ | 0.50¢ | flat | Trend over 6 readings: from 0.50 to 0.50 cents. | High confidence | 2026-10-01 |
| Basis for TD RewardsFixed 200 points = $1 on travel via Expedia for TD; other redemptions pay less. TD consolidated its redemption channels on 2026-09-01 (merchandise is now Amazon.ca only, through Shop with Points on an enrolled TD card, and Book Any Way moved to phone-only), but the Expedia for TD rate that sets this mark is unchanged at 200 points per dollar, so the mark holds. The change moves where you redeem, not what the travel rate pays; it does cut the non-travel floor, since Amazon Shop with Points runs about 0.33¢ against the 0.5¢ travel rate | ||||||
| PC Optimum | 0.10¢ | 0.10¢ | flat | Trend over 5 readings: from 0.10 to 0.10 cents. | High confidence | 2026-10-01 |
| Basis for PC OptimumFixed: 10,000 points = $10 at Loblaw banners (Loblaws, No Frills, Real Canadian Superstore) and Shoppers Drug Mart/Pharmaprix. There is no travel chart, no transfer partner, and no premium redemption; the base rate holds at 0.1¢ apart from occasional Shoppers 'redeem for more' events (~0.15¢). Promoted from an off-index reference rate to a full Index row in the July 2026 cycle (unchanged figure, first monthly mark) | ||||||
How to read these numbers
A mark without a basis is marketing, not measurement.
Three things worth knowing before you use any of these figures, ours or anyone else’s.
Aeroplan’s current mark. It means an informed, ordinary traveller (someone who compares a few options before redeeming, not an award-booking hobbyist) should expect around this much per point.
The same program’s easy floor: what you can always get with near-zero effort. A valuation quoted with no floor beneath it is a best case dressed up as an average.
Every Standard value is conservative, redemption-weighted, and breakage-discounted; confidence ratings reflect how much realized value varies by redemption choice. The full detail is in the Standard Score methodology.
Off-index currencies
The reference rates behind our card math
Dollar-denominated scrip and fixed-rate programs don’t need a monthly mark, because they don’t move. These are the exact conversions used in every bonus value and first-year figure on our reviews.
| Currency | Reference rate | Basis |
|---|---|---|
| United MileagePlus | 1.5¢/pt | Working informed-travel value in CAD for United and Star Alliance flight awards. Dynamic award pricing, taxes, and route availability make realized value variable; the card review flags this as an off-index estimate rather than a guaranteed cash value |
| VIPorter | 1¢/pt | Porter award pricing is dynamic but clusters near 1¢ per point against cash fares |
| MBNA Rewards | 0.83¢/pt | 1¢ per point booked as travel; the World Elite's cash/statement-credit redemption pays ~0.83¢ and gift cards ~0.85–1.08¢ (Milesopedia, creditcardGenius). Marked conservatively at the 0.83¢ World Elite cash rate; travel is the 1¢ ceiling |
| BMO Blue Rewards | 0.67¢/pt | Same 150-points-per-$1 travel redemption as BMO Rewards while the AIR MILES transition settles |
| CT Money | $1 = $1 | Dollar-denominated scrip: 1 CT Money = $1 at Canadian Tire banners. Earn rates on the cards are effectively cash-back percentages |
| Desjardins BONUSDOLLARS | $1 = $1 | Dollar-denominated: 1 BONUSDOLLAR = $1 toward travel booked with Desjardins or financial products |
| Brim Rewards | 1¢/pt | Fixed 1¢ per point, redeemable against any purchase in-app, functionally cash back |
| Walmart Reward Dollars | $1 = $1 | Dollar-denominated scrip: 1 Walmart Reward Dollar = $1 at Walmart in Canada (redeemed in $5 increments), Walmart-only. Earn rates on the cards are effectively cash-back percentages |
Update policy
When the Index moves, everything moves with it.
The Index is refreshed monthly and re-dated. Devaluations, award-chart changes, and transfer-bonus patterns trigger an interim update to the affected row.
Every bonus value
A welcome offer quoted in points is converted at that program’s current mark, so a devaluation lowers the offer’s published value the same day it lowers the points.
Every first-year net
First-year figures are recomputed from the new mark, which can move a card’s first-year rating up or down its anchor ladder.
Every ranking
Scores move, and so do the lists built from them, including the welcome bonus rankings. Material changes are dated in the change log.
Valuations are editorial estimates based on observable award pricing, not guarantees of value you will receive.
Go deeper
A full guide for every program on the Index
Each one carries the sweet spots, the transfer partners, the redemptions to avoid, and a calculator for your own balance.
All program guides