Why a point is worth more on one card than another

A big multiplier is usually a cheap point

The two columns on the right are the ones worth reading together. A hotel program that values its own points low has to advertise a large number to look competitive, and a bank whose points transfer to airline programs does not. So the multiplier and the valuation move in opposite directions, and neither one on its own tells you what a purchase earns.

As written on the two cards, "5x on gas stations, restaurants & bars and more" and "3x on restaurants & bars and food delivery" are not comparable at all — they are prices quoted in two different currencies. Cardful multiplies each by what its own currency is worth first, which is the only step that puts them in the same unit.

What actually sets the number

Whether you can move it. Bilt Points, Chase Ultimate Rewards, Amex Membership Rewards, Citi ThankYou Points, Capital One Miles and Wells Fargo Rewards transfer into airline and hotel programs, so their value is the best redemption available across all of those partners on any given day. A currency locked to one program is worth whatever that one program charges, and nothing more.

How the program prices an award. A program that charges a fixed number of points for a seat lets a point ride the cash price up. A program that prices awards off the cash fare pins its point near a fixed number of cents, permanently, however the fare moves.

What it is worth if you never redeem well. Five of these currencies can be taken as plain cash or a statement credit, and the floor can be a long way under the headline: Capital One Miles is valued at 1.85¢ and cashes out at 0.50¢. Bilt Points, American AAdvantage, World of Hyatt, Alaska Atmos Rewards, United MileagePlus, Southwest Rapid Rewards, Delta SkyMiles, Marriott Bonvoy, Hilton Honors and IHG One Rewards have no cash redemption worth naming at all — Cardful shows no floor for them rather than assuming a cent, which it did for a year and which told holders their points were worth money the program does not pay.

If you disagree with a figure, change it

These are published valuations, not verdicts. Somebody who only ever redeems for cash should set every transferable currency to its cash floor; somebody who reliably gets outsized value from one program should raise that one. Every one of these is editable on the extension's own cheat sheet page, and every ranking Cardful shows you — the popup, the checkout overlay, the next-card suggestion — recomputes from your numbers.

They live in the extension rather than on this site for a structural reason: this page is read-only by construction. It can open an encrypted vault and can never write a record to one, so it could show you a valuation but could never take your correction.

Point values: published industry valuations, most recently read 2026-08. We track The Points Guy, Upgraded Points, NerdWallet and AwardWallet. Not re-confirmed against the latest monthly update: Capital One Miles, Wells Fargo Rewards, American AAdvantage, Alaska Atmos Rewards, United MileagePlus, Southwest Rapid Rewards and Delta SkyMiles. Every figure on this page is recomputed from that data when the site is built, so it cannot quietly disagree with what Cardful tells you at a checkout.