How A lot Are Factors Value? (Quarter 3 2025)

We’re now in Quarter 3 of 2025, and it’s as soon as once more time to revisit our Factors Valuations, which we replace on a quarterly foundation.

Late in Quarter 2, 2025, Aeroplan made probably the most vital adjustments to this system since its relaunch in Fall 2020 with the debut of a revamped Flight Reward Chart.  This system must be updating the median values any day now, and I’m eager to see what (if something) adjustments.

On April 30, 2025, WestJet Rewards underwent a large transformation. WestJet {dollars} grew to become WestJet factors, and lots of the program’s earlier ache factors have been eradicated. 

In the meantime, Porter Airways launched a duo of co-branded bank cards with BMO this spring. VIPorter factors at the moment are simpler than ever earlier than to earn, and as an added bonus, there are glorious redemption alternatives for financial system journey inside North America.

South of the border, Amex US Membership Rewards has seen a couple of reasonably vital adjustments within the latest previous. You’re now not capable of convert MR factors into HawaiianMiles (and thus to Alaska miles), and the switch ratio to Emirates Skywards has been devalued.

Earlier than we delve into the valuations, a pleasant reminder that the main target of those valuations lies within the goal redemption worth of every factors foreign money, reasonably than the acquisition price that you simply would possibly incur (which might fluctuate considerably relying on how you like to earn factors).

Air Canada Aeroplan

In late March, Aeroplan printed a brand new Flight Rewards Chart, and made probably the most vital adjustments to this system we’ve seen since its relaunch in Fall 2020.

A handful of companion airways – formally termed as Choose Companions – grew to become topic to dynamic pricing, and our preliminary evaluation confirmed a little bit of a combined bag.

One side of the brand new chart that I’m conserving an in depth eye on is the median values, that are alleged to be up to date each quarter. I haven’t observed a refreshed Flight Reward Chart but, however I’m curious to see what adjustments (if something does).

Aeroplan stays a wonderful loyalty program – the most effective on the planet – and we’re lucky in Canada to have so some ways to entry it. 

• Continued valuation: 2.1 cents per level (CAD)

WestJet Rewards

In late April, WestJet Rewards underwent a major overhaul as WestJet {dollars} grew to become WestJet factors, and the methods in which you’ll be able to earn and redeem WestJet factors have been expanded.

It’s true that this system is best than it was, whereas it’s necessary to acknowledge that there have been unfavourable adjustments introduced final fall, too. Lots of the ache factors – like solely with the ability to redeem WestJet factors towards the bottom fare – have been eliminated, and this system stays a easy, easy program (which is by design).

In my view, this system nonetheless doesn’t actually enable for lots of intrigue, because it’s primarily a fixed-value factors program that’s extra aligned with Scene+, CIBC Aventura, TD Rewards, BMO Rewards, and so forth., than it’s with, say, Aeroplan or VIPorter. 

In actual fact, in case your main purpose is to save cash on WestJet flights by means of incomes rewards on bank cards, I’d argue you’re a lot better off incomes Scene+ factors as an alternative.

In some instances, you will get a slight quantity of outsized worth by means of Member Unique Fares, however most often, you may redeem WestJet factors at 1 cent per level (towards base fares, Different ATC, baggage charges, and seat choice charges throughout the reserving course of), or for barely much less for third-party taxes and charges or redemptions utilized after the reserving.

• Valuation: 1 cent per level (CAD)

VIPorter

This spring, Porter Airways launched its first-ever co-branded bank cards at the side of BMO. Previous to this, coming throughout VIPorter factors was reasonably troublesome, which was a disgrace for the reason that program provides glorious alternatives for financial system redemptions.

Presently, Porter Airways is present process a fast growth of its fleet, and it provides a rising roster of locations throughout Canada, the US, Mexico, the Caribbean, and Costa Rica.

For those who’re primarily based in Toronto, Ottawa, and even Montreal, you’ll have the most effective entry to Porter’s community, and this system ought to undoubtedly be in your radar for nice financial system redemptions inside North America.

It’s not unusual to get redemption values north of two–3 cents per level, which is a excessive normal for financial system redemptions. 

Plus, the transatlantic redemption charges with Air Transat are a terrific deal, and Porter’s rising relationship with Alaska Airways (and different carriers) is certainly one thing to control.

For now, we’ll keep a really conservative valuation of VIPorter factors, although I think about this determine will develop as this system provides much more flexibility to members.

• Valuation: 1.5 cents per level (CAD)

American Categorical US Membership Rewards

In the US, American Categorical Membership Rewards has seen some changes to its roster of switch companions within the latest previous.

Ever since 1:1 factors transfers between Alaska Airways Mileage Plan and HawaiianMiles grew to become attainable, many members of the Miles & Factors group have been changing their US MR factors into Hawaiian miles, after which to Alaska miles.

This represented an impressive alternative to pad your Mileage Plan steadiness, as Alaska miles are typically fairly troublesome to earn.

As of June 30, 2025, HawaiianMiles is now not a switch companion with US Membership Rewards, which signifies that Alaska miles are as soon as once more comparatively inaccessible.

In the meantime, the switch ratio for Emirates Skywards was lately devalued from 1:1 to five:4. In different phrases, you’ll get 20% fewer Skywards miles than you used to. 

There are nonetheless loads of excellent methods to get outsized worth out of your US MR factors, however they’re not fairly as versatile as they was.

• Continued valuation: 2.5 cents per level (CAD) / 1.8 cents per level (USD)

Factors Valuations, Quarter 3 2025

Right here’s a abstract of our Factors Valuations for Quarter 3 of 2025. You’ll be able to seek advice from the Factors Valuations web page for a full record with further notes.

Conclusion

The second quarter of 2025 noticed some constructive enhancements which is nice for Miles & Factors fanatics, whereas others modified for the more serious.

Bear in mind, deal with these numbers as merely a suggestion for affordable goal redemption values when deciding whether or not to redeem factors or pay money on your subsequent journey.

Finally, the worth derived from each redemption might be subjective to the person traveller, and our valuations are designed for instance a mean benchmark throughout the group to assist inform your resolution as you think about your subsequent factors redemption.