Cash or Miles? The 2025 Points Valuations That Could Change How You Travel

Sep 3, 2025

Craig Joseph, a key member of NerdWallet's travel team, sheds light on the evolving value of points and miles for 2025. He discusses whether to opt for flight vouchers or airline miles, emphasizing the importance of informed decision-making. Tune in for insights on maximizing loyalty programs, the benefits of recent airline partnerships, and tips for saving points on close-in bookings. Craig also offers a spicy take on airport lounges and explores the challenges posed by recent devaluations in travel rewards.

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ADVICE

Use Valuations To Decide Redemptions

Compare a redemption's cents-per-point to NerdWallet's program valuation before using points.
If the redemption value exceeds the program valuation, prefer points; otherwise pay cash.

INSIGHT

Valuations Turn Points Into Dollars

Valuations let you compare programs, portals, and signup bonuses using a single dollar metric.
Multiply a signup bonus by the program valuation to judge whether a card's fee is justified.

ADVICE

Pick The Best Transfer Partner

When valuing transferable credit card points, use your most valuable transfer partner as the baseline.
For Chase, transfer to Hyatt for the highest typical value of Ultimate Rewards.

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Get fresh NerdWallet data on what your points and miles are really worth in 2025 — and why the answer might change how you book travel.

Should you take a $650 flight voucher or 32,500 miles? How much are your points and miles actually worth? Hosts Sally French and Meghan Coyle break down the latest NerdWallet valuations to help you make smarter redemption choices. But first, they cover the week’s biggest travel headlines, including Southwest Airlines’ new partnership with EVA Air, Frontier’s companion certificate promotion and status match, and JetBlue opening up award bookings with Condor Airlines.

Then, travel Nerd Craig Joseph joins Meghan to discuss NerdWallet’s latest airline, hotel, and credit card point valuations, with tips and tricks on comparing loyalty programs, maximizing transfer partners, and deciding when cash is more valuable than points. They also discuss the impact of devaluations, how close-in bookings can save you points, and why premium cabins can sometimes offer outsized redemption value. Plus: Craig’s hot take on airport lounges.

Card benefits, terms and fees can change. For the most up-to-date information about cards mentioned in this episode, read our reviews:

Is the Frontier Airlines World Mastercard Worth Its Annual Fee? https://www.nerdwallet.com/article/travel/is-the-frontier-airlines-world-mastercard-worth-its-annual-fee
Citi Strata Credit Card Review: Solid Rewards for No Annual Fee https://www.nerdwallet.com/reviews/credit-cards/citi-strata
Citi Double Cash Review: A Solid Choice for Everyday Spending https://www.nerdwallet.com/reviews/credit-cards/citi-double-cash
Citi Custom Cash Card Review: Low-Maintenance 5% Cash Back https://www.nerdwallet.com/reviews/credit-cards/citi-custom-cash
Citi Strata Premier: Big Rewards Across Top Spending Categories https://www.nerdwallet.com/reviews/credit-cards/citi-strata-premier
Is the New Alaska Atmos Summit Card Worth a $395 Annual Fee? https://www.nerdwallet.com/article/travel/is-the-alaska-airlines-atmos-summit-card-worth-its-annual-fee

Resources discussed in this episode:

Airline Miles vs. Cash Calculator https://www.nerdwallet.com/article/travel/calculator-should-you-book-a-flight-with-cash-or-miles
How Much Are Travel Points and Miles Worth in 2025? https://www.nerdwallet.com/article/travel/airline-miles-and-hotel-points-valuations

Want even more tips and tricks to get the most out of your travel dollars? Subscribe to TravelNerd, our free newsletter designed to help you crack the code on spending less on your travel.

In this episode, the Nerds discuss: points and miles valuation, airline miles value, hotel points value, credit card points value, Southwest EVA Air partnership, Frontier Companion Certificate, JetBlue Condor award booking, Citi American Airlines transfer, Amex Membership Rewards value, Capital One points value, Bilt points value, Hyatt points value, Hilton points value, Marriott points value, Wyndham points value, IHG points value, Alaska miles value, JetBlue points value, American Airlines miles value, United miles value, Southwest points value, Virgin Atlantic miles value, ANA miles value, Avianca LifeMiles value, best way to use Amex points, best way to use Citi points, best way to use Capital One points, use cash or points for flights, last minute award flight value, premium cabin redemption value, economy flight points value, airline devaluation, hotel point devaluation, cash vs points travel booking, when to transfer credit card points, how to maximize travel rewards, and NerdWallet points and miles calculator.

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