What Your Points Are Actually Worth to Europe

What your points are competing with

Start with a current cash itinerary you would accept. Our carrier grid supplies historical context, but it does not search award availability or establish the fare on your dates. The table groups cash observations by alliance; programs can also have partners outside those alliances.

Star Alliance had the lowest economy median in this sample, at $842, compared with $930 for oneworld. Each alliance covers a different set of routes, and the business and economy samples can differ too. These medians cannot tell you which credit card to choose, which award is available, or what a particular seat saves you.

What a point is actually worth

These are editorial planning benchmarks in US cents per point. We have not measured enough completed redemptions to call them average returns. Use a value that reflects your alternatives and how readily you can use the balance; no valuation promises an available seat on the dates you need.

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.

We assign a higher benchmark to flexible bank currencies because they can preserve multiple options. That is an editorial choice, not a guaranteed exchange value. Search and price the complete award before making a transfer that may be irreversible.

The transfer routes that actually reach Europe

These scores are editorial judgments for Europe, not booking success rates. The list is a shortlist, not a complete partner directory. Confirm current transfer partners, ratios and timing with your issuer before moving points.

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 editorial benchmarks run 1.1 to 1.6 cents per point for airline programs and 1.5 to 1.8 for transferable bank currencies. They are planning assumptions, not measured average returns. Your redemption value is the comparable cash price minus all award taxes and fees, divided by the points required.

Which points are best for flying to Europe?

A transferable currency can preserve options before you find award space. Our editorial benchmarks value Chase, Amex and Bilt at 1.8 cents, but that does not make one card or program best for every trip. Find available seats, compare the total points and cash charges, and confirm your issuer's current transfer options before moving points.

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

Compare the complete award with a cash itinerary you would actually buy, matching dates, airports, cabin and one-way or round-trip direction. Subtract all award taxes and fees from that cash price, then divide by the points required. Also compare baggage, changes and cancellation terms. A network-wide cash median cannot decide a specific booking.

Which airline alliance is cheapest to fly to Europe?

Star Alliance had the lowest economy cash median in our snapshot observed August 31 – September 1, 2026, at $842 across 662 routes. The alliance samples have different route coverage and routings, so this does not establish the cheapest alliance on your trip or the best points program. Programs may also have partners outside their alliance, and cash availability does not establish award space.

How often are these valuations updated?

The target is quarterly, with additional review after a material program change. The valuation dataset was last reviewed August 2026. The date is separate from fare observation dates and this page's editorial review. Check current award and transfer terms before booking.

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.