Compare Loyalty Programs
Which points are actually worth collecting? Every program ranked by the effective cash back you get back on your spend.
Comparing programs...
How the cash back rate is calculated
Two numbers drive every program on this page. The acquisition cost is what you have to spend to earn a single point. The redemption value is what that point is worth when you actually spend it on a flight or a hotel night. Divide the second by the first and you get an effective cash back rate: a 10% rate means every $100 of spend earns points worth $10 in travel.
Because both figures are measured in the program's own base currency, the ratio cancels out the exchange rate — an Australian program and a Canadian one can be compared directly. Turning on top status earn rates applies each program's best earning tier, which lowers the cost per point and lifts the cash back rate accordingly.
A high rate is not the whole story. Programs vary in how easy the points are to earn in the first place, how much award availability they release, and how well they hold their value. See our valuations methodology for how the underlying numbers are built, or run your own numbers in the points calculator.