Credits Rule
60%
By default, non-point credits and benefits that require real effort to use are valued at 60% of face value.
Methodology
How We Value Rewards
This is the source of truth for the welcome-offer and perk valuations we use in BestNextCard. The same baseline values feed card comparisons and the internal offer research workflow.
Last reviewed: 2026-04-10
Automation
12
Reward programs currently mapped into the automatic valuation layer for offer research and ranking.
Edge Cases
3
Perks we track separately because one universal dollar value would be misleading.
Methodology Notes
We use conservative operational values rather than best-case redemption stories.
Fixed-value cash back, statement credits, and issuer credits default to face value unless explicitly discounted elsewhere.
For non-point benefits and credits that require real effort to use, we value them at 60% of face value by default.
Transferable and loyalty currencies are valued using current public reference points from rewards evaluators, then rounded to a conservative operating value for site decisions.
We do not automatically assign a universal dollar value to highly variable perks like companion passes or free-night certificates without an explicit rule.
Benefit Rules
Default non-point credit rule
When a card advertises a first-year credit or coupon-like benefit with real breakage risk, we apply the default 60% realization rate unless a more specific rule exists.
Applied rate
60%
Program Values
Cash back / statement credits
Fixed-value rewards are valued at face value.
Operational value
1 cpp
Used in automation
Chase Ultimate Rewards (transferable)
We use a conservative transferable Ultimate Rewards valuation for Sapphire and Ink Preferred style offers.
Operational value
1.60 cpp
Used in automation
Reference sources
TPG April 2026 monthly valuations
The Points Guy | Observed: 2.05 cpp
https://thepointsguy.com/loyalty-programs/monthly-valuations/NerdWallet Chase Ultimate Rewards value guide
NerdWallet | Observed: 1.0 to 1.8 cpp depending on use
https://www.nerdwallet.com/article/travel/chase-ultimate-rewards-points-valueChase Ultimate Rewards (cash-style cards)
Freedom and similar Chase cash-back products earn Ultimate Rewards points, but the public offer is a fixed cash-equivalent bonus unless paired with a premium transfer card.
Operational value
1 cpp
Used in automation
Reference sources
NerdWallet Chase Ultimate Rewards value guide
NerdWallet | Observed: 1 cpp baseline for cash-style UR redemptions
https://www.nerdwallet.com/article/travel/chase-ultimate-rewards-points-valueSouthwest Rapid Rewards
We use a conservative Southwest point value because awards are revenue-linked and can vary with dynamic pricing.
Operational value
1.25 cpp
Used in automation
Reference sources
TPG April 2026 monthly valuations
The Points Guy | Observed: 1.25 cpp
https://thepointsguy.com/loyalty-programs/monthly-valuations/NerdWallet Southwest point value guide
NerdWallet | Observed: 1.3 cpp
https://www.nerdwallet.com/travel/learn/how-much-are-my-southwest-rapid-rewards-points-worthUnited MileagePlus
We currently use the latest TPG operating valuation for United miles.
Operational value
1.35 cpp
Used in automation
Reference sources
TPG April 2026 monthly valuations
The Points Guy | Observed: 1.35 cpp
https://thepointsguy.com/loyalty-programs/monthly-valuations/World of Hyatt
Hyatt remains one of the strongest hotel currencies, so we use the latest TPG valuation directly for now.
Operational value
1.70 cpp
Used in automation
Reference sources
TPG April 2026 monthly valuations
The Points Guy | Observed: 1.7 cpp
https://thepointsguy.com/loyalty-programs/monthly-valuations/IHG One Rewards
IHG point values vary widely, so we stick to a conservative current public reference point.
Operational value
0.60 cpp
Used in automation
Reference sources
TPG April 2026 monthly valuations
The Points Guy | Observed: 0.6 cpp
https://thepointsguy.com/loyalty-programs/monthly-valuations/Marriott Bonvoy
We use the latest current public Marriott valuation and keep certificates as a separate manual edge case.
Operational value
0.75 cpp
Used in automation
Reference sources
TPG April 2026 monthly valuations
The Points Guy | Observed: 0.75 cpp
https://thepointsguy.com/loyalty-programs/monthly-valuations/Avios
Aer Lingus, British Airways, and Iberia Chase offers all map into the Avios family, so we use a shared value.
Operational value
1.40 cpp
Used in automation
Reference sources
TPG April 2026 monthly valuations
The Points Guy | Observed: 1.4 cpp
https://thepointsguy.com/loyalty-programs/monthly-valuations/Air Canada Aeroplan
We use the latest public TPG valuation for Aeroplan in the automation layer.
Operational value
1.40 cpp
Used in automation
Reference sources
TPG April 2026 monthly valuations
The Points Guy | Observed: 1.4 cpp
https://thepointsguy.com/loyalty-programs/monthly-valuations/Amazon Rewards
Amazon rewards are treated as fixed-value cash-equivalent rewards.
Operational value
1 cpp
Used in automation
Disney Rewards Dollars
Disney Rewards Dollars are treated as fixed-value credits.
Operational value
1 cpp
Used in automation
Edge Cases We Treat Separately
Southwest Companion Pass
Companion Pass value depends heavily on travel frequency, timing, and taxes/fees, so we do not assign one universal dollar value in the automated bonus estimate.
Manual / editorial
Hotel free-night certificates
Free-night certificates can be worth far more or less than their nominal cap depending on redemption timing and property choice, so they need explicit rules instead of a one-size-fits-all point conversion.
Manual / editorial
Issuer portal or boost redemptions
Portal redemptions and temporary boost mechanics can move around too much to hardcode into the baseline welcome-offer value.
Manual / editorial
What This Means For Offer Research
The internal Chase research tool uses these values when it estimates `sub_value` for points and miles offers. If a reward needs a one-off rule instead of a simple cents-per-point conversion, we flag it as an edge case rather than pretending the estimate is more precise than it really is.