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American AAdvantage miles lead the 2026 median valuations in NerdWallet’s comparison, at 1.7 cents each. Atmos points, Southwest Rapid Rewards points and JetBlue TrueBlue points are each estimated at 1.4 cents, while Delta SkyMiles and United MileagePlus miles are estimated at 1.2 cents. Those figures are benchmarks—not guaranteed cash values—so the best miles to use depend on the specific flight, award availability, taxes and fees, and booking rules.
What airline miles are worth in 2026
NerdWallet’s 2026 estimates compare the miles or points required for travel with cash prices for equivalent trips, then report a median value. A median helps compare programs, but it does not predict the value you will get on a particular route or date. Cash fares, award prices, cabin, availability, taxes and fees all affect the result.
| Program | 2026 estimated value | 2025 estimate |
|---|---|---|
| American AAdvantage | 1.7 cents per mile | 1.3 cents per mile |
| Atmos Rewards | 1.4 cents per point | 1.2 cents per point |
| Southwest Rapid Rewards | 1.4 cents per point | 1.3 cents per point |
| JetBlue TrueBlue | 1.4 cents per point | 1.4 cents per point |
| Delta SkyMiles | 1.2 cents per mile | 1.2 cents per mile |
| United MileagePlus | 1.2 cents per mile | 1.2 cents per mile |
These are NerdWallet’s estimates, not official program cash-out rates. See its 2026 valuation comparison and October 2026 points and miles values for methodology and context.
Why the highest valuation does not automatically mean the best redemption
A program can have a higher median estimate and still offer poor value for the flight you want. The estimate is not a fixed rate: compare actual prices for the same itinerary, travel dates and cabin. A redemption’s usefulness also depends on whether award seats are available when you can travel and whether the remaining out-of-pocket cost is acceptable.
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NerdWallet attributes some 2026 gains for American, Alaska/Atmos and Southwest partly to cash fares rising faster than award prices. That can raise an estimated cents-per-point value without a program-wide improvement in award terms. Carrier-imposed fees can reduce a redemption’s value, and NerdWallet says its comparison does not reflect cardholder award discounts.
How to compare an award with paying cash
- Find the cash fare for the exact trip. Match route, dates, cabin and number of travelers. Use the fare you could actually book, rather than a broad advertised price.
- Check the award price and seat availability. Search the same itinerary in the loyalty program and confirm that the seats are bookable for your dates.
- Add award taxes and fees. Include any carrier-imposed charges and other required costs in the redemption total.
- Calculate the value per mile or point. Subtract award taxes and fees from the comparable cash fare, then divide the remaining dollar amount by the miles or points required. Multiply by 100 to express the result in cents.
- Account for rules and discounts. Check change and cancellation terms, any cardholder discount you qualify for, and whether the booking option is a standard award or a separate miles-payment benefit.
For example, if a comparable ticket costs $300, an award requires 20,000 miles, and taxes and fees are $20, the calculation is ($300 − $20) ÷ 20,000 = $0.014 per mile, or 1.4 cents. That is a comparison for this booking, not a promise that your miles will always be worth that amount.
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Program details that can change the comparison
American AAdvantage
American’s award chart shows one-way starting prices for awards originating in North America; one-way awards can be combined for round-trip or multi-city travel. The airline’s cited award-use page says taxes and carrier-imposed fees start at $5.60 per person per award and vary by itinerary. A starting price is not necessarily the price or availability for your particular trip. Check the American Airlines flights award-use terms before booking.
Delta SkyMiles
For travel originating in the United States and Canada, Delta says many award tickets can be changed or canceled without a redeposit or change fee; Delta Basic experiences are excluded. Confirm the terms that apply to the specific ticket before you book.
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Delta Pay with Miles is a separate benefit for eligible Delta SkyMiles American Express cardmembers on eligible Delta-operated flights. Delta describes a discount of up to $50 per 5,000 miles. It is not the same as Miles + Cash, an award-ticket option available to SkyMiles members. Check current eligibility and terms on Delta’s Travel with Miles page.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What Episode 82 establishes—and what it does not
The October 1, 2026 Thrifty Traveler episode page says Gunnar Olson and Kyle Potter are joined by flight deal analyst Katie Rollins, and timestamps a segment on airline-program rankings at 11:30. The page does not publish a transcript or the individual rankings, so it does not establish which programs the hosts judged to be rising or falling. The episode is available from Thrifty Traveler’s Episode 82 page; the numerical program comparison above comes from NerdWallet, not an attributed episode verdict.
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
