Same 100,000 points, half the cash
What are your points really worth? The one-minute answer.
Cash out 100,000 Chase points and you get $1,000. Cash out 100,000 Capital One miles and you get $500. Same number of points. Half the money.
That cash value is what we call the floor: what the card program pays if you just take the money. We don't set these rates, and nobody promises them forever. The programs set them and can change them. But today, the floor is the most solid value your points have.
The other way to use points is to move them ("transfer" them) to an airline or hotel and book a trip. That can be worth more. But the airline or hotel sets the price of the trip, and the card program sets how many points arrive. Both can change, so we count everything above the floor as at risk.
The floor, per 100,000 points
| Program | 100,000 points in cash | Per point |
|---|---|---|
| Chase Ultimate Rewards | $1,000 | 1.00¢ |
| Citi ThankYou Points | $500 to $1,000 | 0.50¢ to 1.00¢ |
| Amex Membership Rewards | $600 to $1,100 | 0.60¢ to 1.10¢ |
| Bilt Points | about $550 | about 0.55¢ |
| Capital One Miles | $500 | 0.50¢ |
- Citi pays more if you hold certain Citi cards: $500 with only the no-fee Strata card, $750 with a Strata Premier, Strata Elite or Prestige card, and $1,000 if you also have a Double Cash or Custom Cash card.
- Amex pays $600 as a credit on your card bill, on most cards. The Schwab version of the Platinum card can pay up to $1,100 into a Schwab investing account, on up to 1,000,000 points a year.
- Capital One calls its points miles. It pays $500 as cash, but $1,000 if you use the miles to pay off travel you've charged to the card. If you travel, that doubles your floor.
- Bilt lets cardholders take a statement credit but doesn't publish a single value. The rate above is a points-site estimate.
Sources checked October 23, 2026.
Floors move too
Citi cut the cash rate for its Strata Premier card from $1,000 to $750 per 100,000 points on August 24, 2025. That's why every number here has a source and a date, and why we recheck them before we publish.
A date to know: December 31, 2026
You can move Bilt points into World of Hyatt, Hyatt's hotel program. Through December 31, 2026, 100,000 Bilt points become 100,000 Hyatt points. Starting January 1, 2027, they become 75,000.
If a Hyatt stay is already in your plans, the better deal ends at year end. Moving points is one-way, so only do it for a stay you can actually book.
Next
Sapphire Reserve: some of your points lose $500 per 100,000 in 2027. Which points qualify, and what to do before October 26, 2027.
Not financial advice. Rates change. Confirm with the program before you redeem.
Sources
- Chase: cash value of Ultimate Rewards points: Chase, checked October 23, 2026
- Citi: cash value by card, and combining accounts: TravelFreely, checked October 23, 2026
- Citi: the 2025 cut to the Strata Premier cash rate: Frequent Miler, checked October 23, 2026
- Amex: statement-credit value of Membership Rewards points: Upgraded Points, checked October 23, 2026
- Amex: Schwab Platinum cash-out rate and yearly cap: Frequent Miler, checked October 23, 2026
- Capital One: cash and travel values, and the 90-day window: point.me, checked October 23, 2026
- Bilt: statement credits for cardholders: Bilt Rewards, checked October 19, 2026
- Bilt: no published point value: Bilt Rewards, checked October 23, 2026
- Bilt: estimated statement-credit value: point.me, checked October 23, 2026
- Bilt: transfer partners and the 2027 Hyatt change: Upgraded Points, checked October 23, 2026
- Chase: Sapphire Reserve changes and the October 26, 2027 deadline: Chase (press release), checked October 23, 2026
Every source we use: pointsfloor.com/sources