The Points Standard Index · 2026-08-01
What your points are 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.
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.
The full index
Every program we mark
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 | 2026-08-01 |
| 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 | 2026-08-01 |
| 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 | 2026-08-01 |
| 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 | 2026-08-01 |
| 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 3 readings: from 1.50 to 1.50 cents. | Medium confidence | 2026-08-01 |
| 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 | 2026-08-01 |
| 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 | 2026-08-01 |
| 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 | 2026-08-01 |
| 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 3 readings: from 1.00 to 1.00 cents. | Medium confidence | 2026-08-01 |
| 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 3 readings: from 0.90 to 0.90 cents. | Low confidence | 2026-08-01 |
| 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 | 2026-08-01 |
| 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 | 2026-08-01 |
| Basis for TD RewardsFixed 200 points = $1 on travel via Expedia for TD; other redemptions pay less | ||||||
| PC Optimum | 0.10¢ | 0.10¢ | flat | Trend over 3 readings: from 0.10 to 0.10 cents. | High confidence | 2026-08-01 |
| 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) | ||||||
Off-index currencies: the reference rates behind our card math
Some cards we score earn currencies that don’t need a monthly mark — dollar-denominated scrip and fixed-rate programs don’t move. For those, this table documents the exact conversion used in every bonus value and first-year figure on our reviews, so you can audit any number on this site back to its rate:
| Currency | Reference rate | Basis |
|---|---|---|
| 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 |
How to read these numbers
Take Aeroplan’s current Standard value of 1.9¢: it means an informed, ordinary traveller — someone who compares a few options before redeeming, not an award-booking hobbyist — should expect around that much value per point. The floor is what you can always get with near-zero effort. If someone quotes you a point value with no basis and no floor, they are marketing, not measuring.
Methodology, in brief
Every Standard value is conservative, redemption-weighted, and breakage-discounted, and confidence ratings reflect how much realized value varies by redemption choice. The full detail — and how these numbers feed every card score and ranking on this site — is in the Standard Score methodology.
Update policy
The Index is refreshed monthly and re-dated; devaluations, award-chart changes, and transfer-bonus patterns trigger interim updates to the affected row. When the Index moves, every bonus value, first-year net figure, and ranking moves with it — including the welcome bonus rankings.
Valuations are editorial estimates based on observable award pricing, not guarantees of value you will receive.
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