Rewards
How to Redeem Credit Card Points in Canada
The same points are worth different amounts depending on how you use them. In the programs we have reviewed, the recorded value ranges from 1 ¢ a point to 0.1 ¢ a point.
What is a point worth in each program?
WalletReturn records a reviewable value per point for each program it has certified, and shows it beside the restrictions that go with it.
| Program | Value per point |
|---|---|
| TopAeroplan | 1 ¢ |
| Scene+ | 1 ¢ |
| Membership Rewards | 1 ¢ |
| CIBC Aventura (flexible travel) | 1 ¢ |
| CIBC Aventura (Payment with Points) | 0.625 ¢ |
| Avios | 1 ¢ |
| Marriott Bonvoy | 0.7 ¢ |
| BMO Rewards | 0.67 ¢ |
| National Bank À la carte | 0.83 ¢ |
| PC Optimum | 0.1 ¢ |
These are the values our calculators use. They are not the highest value any point could ever reach, and they do not apply to a program we have not reviewed — where a value is unapproved, we show the program’s facts without a dollar figure.
Put it into practiceRewards Program CentreCan the same points be worth two different amounts?
Yes. CIBC Aventura points are recorded at 1 ¢ each when redeemed as flexible travel and 0.625 ¢ when applied against a purchase.
Twenty thousand points are worth $200 one way and $125 the other — a difference of $75 from the redemption method alone, before any travel you might or might not take.
The method you choose decides the value, so compare the redemptions your program actually offers before you assume a point is worth a cent.
Which redemption methods usually pay the most?
Travel booked through the program’s own portal or transferred to an airline or hotel partner usually pays the most, followed by statement credits, with merchandise and gift cards at the low end.
Transfer partners help only if you would book with that airline or hotel anyway. A flexible chart that is generous in theory can be worth less than a statement credit you would actually use.
Some programs require a minimum number of points before any redemption, and points can expire after a period of inactivity. Check the program’s own terms for both.
What should I avoid when redeeming?
Redeeming for cash at a poor rate, letting points expire, and treating a promotional redemption as the normal value of the program.
A statement credit is applied to the account; it is not a deposit into your bank account, and the rate it pays per point is often lower than a travel redemption. Merchandise and gift cards usually carry the weakest rate of all.
A temporary promotion can raise the value of a redemption for a short window. That is a fact about the promotion, not a new value for the program, so our estimates do not change because of it.
How do I compare redemptions before I spend points?
Work out the dollars you receive divided by the points you spend, and compare that with what the same points buy another way.
Our Rewards Calculator converts earning into dollars using the same recorded values, and each program page lists the restrictions that come with them.
Keep reading
RewardsHow Much Are 50,000 or 100,000 Points Worth in Canada?What 10,000, 25,000, 50,000 and 100,000 points are worth in dollars in Aeroplan, Amex Membership Rewards, Scene+, CIBC Aventura, Marriott Bonvoy, BMO Rewards and PC Optimum, using WalletReturn’s point values.
RewardsAIR MILES Is Now Blue Rewards: What Changed in CanadaAIR MILES has become Blue Rewards. What happened to your miles, what Blue Points are worth, how BMO’s cards earn now, and which partners changed.
RewardsAeroplan Points Explained: Value, Flight Costs and Expiry in CanadaHow far Aeroplan points go: the points a flight costs on Air Canada’s current chart, what a point is worth, how to tell a good redemption from a poor one, how to keep points from expiring and which cards earn the most.
RewardsScene+ Points Explained: Value, Earning and Redeeming in CanadaWhat Scene+ points are worth, how fast you earn them at Sobeys, Home Hardware, Cineplex and Scene+ Travel, every way to redeem them, whether they expire and which Scotiabank card earns the most.
Official sources and further reading
Terms vary by product. Confirm the provider’s current terms before acting. This guide does not predict approval, realized value or credit-score changes. How WalletReturn calculates value