What Your Points Are Actually Worth to Europe

What a point is actually worth

These are our own valuations, in US cents, for transatlantic redemptions, and they are deliberately lower than the headline numbers you will see elsewhere. Most published valuations are built on the single best outlier redemption anyone found that year. A number you cannot book on your dates is not a valuation, it is a story.

Hotel points are excluded from the chart because they are not really airfare currency, but Marriott Bonvoy at 0.7¢ transfers to airlines, so it has a page. The ratio is poor enough that it is a way to use points you already have rather than a reason to earn them.

The pattern to take from that chart: transferable currencies sit at the top, and that is not a coincidence. A Chase or Amex point is worth more than an airline mile because you have not committed it yet. You transfer once you know where the award space actually is, which is the opposite order from how most people accumulate.

The transfer routes that actually reach Europe

Scored 0–100 for Europe specifically, blending the destination program’s value with the friction of actually booking it. A cheap award you cannot find space on is not cheap.

Which cards earn what on airfare

Airfare multipliers only, because that is the spend this site is about. A card that earns 4× on flights and 1× elsewhere is a different tool from one that earns 3× on groceries.

* Earn rate flagged for re-verification against the issuer’s own page. We show the flag rather than quietly publishing a number two sources disagree on.

Common questions

What are airline miles actually worth?

Our valuations run 1.1 to 1.6 cents per point for airline programs and 1.5 to 1.8 for transferable bank currencies. They are deliberately lower than the numbers usually quoted, because those are built on the single best outlier redemption. A valuation is only useful if you can book it on the dates you want.

Which points are best for flying to Europe?

Transferable bank currencies, because they keep your options open until you know where award space actually is. Chase, Amex and Bilt all value at 1.8 cents here. The strongest single play in our data is Amex MR to Virgin at 1:1: Amex points to Virgin Atlantic, then book Delta One to Europe. Frequent transfer bonuses make this even better.

Should I use points or pay cash for a flight to Europe?

Divide the cash price by the miles required and compare the result against the valuation for that program. In the October-to-March window, transatlantic economy fares are low enough that cash usually wins; points are better saved for summer or for a business-class seat whose cash price is genuinely out of reach. Our calculator does this arithmetic properly.

How often are these valuations updated?

Quarterly, or immediately when a program devalues. Last reviewed August 2026. Alaska Mileage Plan became Atmos Rewards in 2025, Aeroplan devalued transatlantic business in June 2026, and Turkish devalued in December 2025 — all reflected here.

To run the arithmetic on a specific award, use the Points vs. Cash Calculator. For what a cash fare actually costs before you decide, see every European city priced and which airlines are cheapest.