Bilt Leads at 2.2 Cents: TPG Unveils April 2026 Points and Miles Valuations

Data-Driven Shifts Reshape Rewards Landscape (Image Credits: Unsplash)

Travel rewards enthusiasts received a timely update as The Points Guy released its April 2026 valuations for major loyalty programs. These figures help travelers gauge the real-world value of their hard-earned points and miles amid shifting program dynamics and redemption opportunities. With some currencies gaining ground and others slipping, the latest numbers offer critical insights for planning high-value trips.[1]

Data-Driven Shifts Reshape Rewards Landscape

TPG refined its approach this month by incorporating extensive data for 12 programs, including seven airlines and five hotels. This marks the first use of data from Gondola, a hotel booking platform, alongside TPG’s established methodology that weighs purchase prices, award costs, and expert analysis. Such updates ensure valuations reflect current market realities more precisely.[1]

Travelers benefit from these precise estimates when deciding where to earn or redeem. For instance, transferable points from credit cards often top the charts due to flexible transfer partners. Program changes, like new lounges or route adjustments, also influence values indirectly through better redemption prospects.

Transferable Points Dominate with Chase and Bilt on Top

Bilt Rewards surged to 2.2 cents per point, the highest among tracked programs, bolstered by its new Wyndham transfer partnership and a dedicated TPG calculator. Chase Ultimate Rewards followed closely at 2.05 cents, edging out American Express Membership Rewards at 2.0 cents. Capital One held steady at 1.85 cents, while Citi ThankYou Rewards valued at 1.9 cents and Wells Fargo at 1.65 cents.[1]

These currencies shine because of their versatility across airlines and hotels. Recent developments, such as Chase’s Q2 Freedom categories and Amex’s Las Vegas Sidecar lounge, enhance appeal. Travelers can maximize value by transferring to high-value partners during promotions.

U.S. Airlines Face Value Declines Amid Competition

United MileagePlus dropped sharply from 1.5 to 1.35 cents, despite new Polaris suites on domestic routes and strong demand signals from its CEO. Delta SkyMiles fell to 1.2 cents from 1.25, coinciding with Denver Sky Club expansions and bag policy tweaks. Southwest Rapid Rewards slipped to 1.25 cents, while Alaska Airlines dipped to 1.4 cents.[1]

Other airlines held firmer: Air Canada Aeroplan, Avianca LifeMiles, and British Airways Avios at 1.4 cents each. International options like ANA, Singapore KrisFlyer, and Flying Blue ranged from 1.3 to 1.4 cents. Low-cost carriers like Frontier at 1.3 cents outperformed Spirit at 1.1 cents.

• Aeroplan: 1.4 cents – Reliable for Star Alliance redemptions.
• JetBlue TrueBlue: 1.35 cents – Strong for domestic flights.
• United MileagePlus: 1.35 cents – New premium cabins boost potential.
• Delta SkyMiles: 1.2 cents – Dynamic pricing impacts value.
• Southwest: 1.25 cents – Companion Pass remains a draw.

Hotel Programs See Mixed Results with Hyatt Unmoved

World of Hyatt maintained its lead at 1.7 cents, supported by renovations like Grand Hyatt DFW and new Bahia Principe partnerships. Marriott Bonvoy rose to 0.75 cents from 0.7, aided by free night top-off options unlocking more properties. IHG One Rewards climbed to 0.6 cents with openings in Turks and Caicos and New York.23

Hilton Honors declined to 0.4 cents amid AI tools and new Hawaii resorts, while Wyndham Rewards plummeted to 0.65 cents. Budget chains like Choice and Best Western stayed at 0.6 cents, and Accor at 2.0 cents offered luxury appeal.

Key Takeaways for Rewards Strategists

These valuations guide smarter earning and spending decisions in a competitive landscape. For the complete breakdown, visit TPG’s valuations page.[1]

Values fluctuate with program tweaks, so check availability before transferring. What changes surprise you most this month? Share your thoughts in the comments.