Compare cash you would actually spend with the award’s taxes, extra costs and the opportunity cost of your points. Use the same trip length and passenger count. A high published fare does not equal genuine savings if you would never buy that fare.
Compare your available options
The initial values below are hypothetical examples, not live fares or award inventory. The calculation runs on your device. We do not receive your entries.
How the calculation works
Required bank points = airline miles ÷ (transfer ratio × (1 + bonus)). The result rounds up to the selected transfer increment. Effective redemption value = (cash comparison − cash-booking reward value − award cash charges − award-only extra costs) ÷ bank points × 100. Award economic cost = bank points × your valuation in dollars + award cash charges + award-only extra costs.
The decision compares award economic cost with the adjusted cash comparison. Your maximum willingness to pay can cap the comparison fare. If the published fare is $8,000 but you would choose a $2,400 alternative, use $2,400 when evaluating genuine economic savings.
Inputs that change the result
- Use equal one-way or round-trip options, including all passengers.
- Include taxes, carrier charges and booking fees in award cash charges.
- Add hotels or positioning flights needed only for the award option.
- Include the value of rewards you expect to earn only on the paid option.
- Use the actual transfer ratio and a confirmed bonus; do not assume every partner transfers 1:1.
- Choose a personal value for points. This is a planning assumption, not a market guarantee.
For points you already hold in an airline account, use a transfer ratio of 1 and bonus of 0, then value those miles directly. For a mix of existing miles and new transfers, calculate the two portions separately. The tool models one points currency at a time.
An example that avoids inflated savings
Hypothetical equal round trips: cash $2,400; award 80,000 miles plus $250; 1:1 transfer with a 25% bonus; personal bank-point value 1.5 cents; no extra costs. The transfer needs 64,000 bank points. Those points have a $960 opportunity cost, so the award’s economic cost is $1,210. The modeled advantage over cash is $1,190.
That advantage is conditional on an available award, confirmed bonus and acceptable terms. It is not cash income. If the award disappears or includes an unwanted connection, the comparison must change.
What a calculator cannot decide
A refundable cash ticket and a restricted award may not be interchangeable. Seat version, arrival time, guest access and disruption recovery also matter. If the monetary result is close, choose the itinerary whose benefits and restrictions fit your trip.
Transfers can be final and processing times vary. Verify availability and program conditions before moving points; the calculator is arithmetic, not a booking guarantee.
Sources: Chase: transfer partners and final transfers, American Express US: point-transfer guidance.
Questions, answered
What point value should I enter?
Your own conservative opportunity-cost estimate. Test several values rather than treating 1.5 cents as a universal rule.
Does the tool search awards?
No. It compares figures you supply from available options.
Does a transfer bonus make an award available?
No. It changes transfer math only; availability must be checked separately.
Sources & verification
Source review: September 30, 2026. Tables combine sourced facts with editorial decision analysis. Examples are hypothetical unless identified otherwise. Editorial methods & corrections.