Savings Info
Reward programs can be complicated.
With different earn rates, a whole bunch of partner stores, a slew of credit card options…it can be overwhelming.
And that’s not even the end of it. Next comes actually redeeming your points…
Since being part of a reward program won’t do you much good if you don’t actually use their benefits, redeeming rewards is pretty important.
But the problem arises with the many different options a rewards program gives you for redemption. And most of the time, these options all have different values attached to them.
This means that when you’re redeeming for travel, say, you get a different value for your points than when you redeem for a gift card. The number of points you need to make up $1 in real money may be drastically less when maximizing your travel redemptions.
Some programs make it easy on you and only give one redemption option, say 10 points = $1. But other programs can have more than 8 options, all with different point values attached to them…So what will give you the best value?
We’ve done the math for a bunch of Canadian reward programs, so you don’t have to.
Simply pick the program you’re curious about, enter how many points you have with them, and we’ll tell you the dollar value of your collection so far.
Let’s take Air Miles for example.
Here’s the breakdown of their point values on average:
- Flights: 10.5 CPM
- Car rentals: 12.7 CPM
- Attractions: 10.8 CPM
- Hotels: 9.8 CPM
- Vacation packages: 11 CPM
- Cash: 10.5 CPM
- Merchandise: 9.5 CPM
It’s important to make sure you’re maximizing your points so you avoid essentially throwing them away. You work hard for them.
Keep in mind our numbers are averages, so what you could actually get may differ from our numbers as well.
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- 5 Best Ways To Redeem Your Air Miles
- How To Earn And Redeem More Air Miles
- What Is An Aeroplan Mile REALLY Worth?
- Air Miles vs. Aeroplan: Compare Canada’s Two Top Rewards Programs
- PC Optimum Points – Your Ticket To Free Groceries
- Best Credit Cards In Canada
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