Reward Points Value in Canada: How Much Are They Worth


How much are your reward points actually worth? Loyalty programs and rewards credit cards are a great way to save money on your purchases and earn free stuff. But the competition for your cash is fierce and there is no shortage of reward programs to choose from. The redemption value of your reward points will differ considerably across credit cards and retailers.

How quickly you earn reward points, number of points per redemption, and what you can use them for is only part of the equation. The other part depends on your needs, preferences, and shopping habits. It’s hard to know if you’re getting the best value for your money. That’s why we calculated the reward points value for some of Canada’s most popular programs, so you don’t have to. Get the best bang for your buck and never miss another great deal.

Monetary value of reward points per program

PROGRAMVALUE IN ¢Main categoriesHow to earn points
Aeroplan Rewards1.7Travel Register to the Aeroplan program
Use a credit card such as the Aeroplan American Express
AIR MILES Rewards10.5TravelUse a credit card like the BMO AIR MILES Mastercard
American Express Membership Rewards0.7-1.3Travel, ShoppingGet an American Express credit card like the American Express Cobalt card
Rewards Zone (Laurentian Bank)1.0ShoppingGet a Laurentian Bank credit card
À la carte Rewards (National Bank)0.4-1.0Travel, Financial products, Eco-friendly rewardsUse a credit card like the National Bank Platinum Mastercard
Scene Plus Rewards1.0Shopping, EntertainmentUse the no-fee Scotiabank Visa Scene card
BMO Rewards0.5-0.7Travel, Financial products, ShoppingUse a credit card like BMO’s Ascend World Elite
Capital One Rewards1.0Account credit, Gift cards, TravelUse a Capital One credit card
CIBC Aventura Rewards1.7TravelGet the no-fee Visa Aventura CIBC
BONUSDOLLARS Rewards100Travel, Restaurants, DonationsPick a Desjardins credit card
Marriott Bonvoy Rewards0.8Marriott expensesUse the Marriott Bonvoy American Express credit card
MBNA Rewards0.9Shopping, Gift cardsShop with the MBNA Platinum Plus Rewards credit card
moi Rewards Program0.8Groceries, Drug storesGet your moi card
Use the moi RBC Visa credit card
PC Optimum0.1Groceries, Drug stores, GasApply for a PC Optimum card
Use a PC Finance Mastercard credit card
RBC Avion Rewards2.0Travel, ShoppingRegister for the Value Program
Get an RBC Avion Visa Infinite credit card
Second Cup Rewards0.9-1.2CoffeeCreate your account in the Second Cup app
Starbucks Rewards2.0-5.0CoffeeCreate your account in the Starbucks app
TD Rewards0.5Travel, ShoppingUse a TD Rewards credit card
Tims Rewards0.5Coffee, MealsCreate an account in the Tims app
Expedia Rewards1.0TravelReach higher member status (Silver, Gold) for more discounts
Mileage Plan1.6TravelGet an Alaska Airlines credit card
Avios0.8-1.5TravelJoin one of the following programs: AER Club, British Airways Executive Club, Vueling Club, Iberia Plus
Use the RBC British Airways Visa Infinite
Hilton Honors0.5HotelsUse a Hilton affiliated credit card

Why should I know the value of my points?

Rewards programs like AIR MILES and Aeroplan have been around for quite a long time. It is relatively easy to get an idea about the monetary value of your points. However, reward program offers and redemption values have grown and shifted rapidly over the past few years. This may make it difficult to evaluate a program based on a single reward.

This highlights the need to compare rewards programs. In any comparison of these programs, it is helpful to consider the number of points needed to redeem a flight, the other rewards offered, welcome bonuses and how to earn points.

How to choose a rewards program?

There are many rewards programs out there and it can be difficult to find the right one for you. These offer a variety of benefits, but how do you know which one is right for you?

The first step would be to determine what type of rewards program you want. Do you want a points-based program that offers discounts on airfare or hotels? Or would a cash back or cash equivalent program better suit your needs? Once you’ve made that decision, it’s easier to figure out which specific programs offer the most relevant type of reward for you. Besides the value of the points, take into account how you can earn them. Will you find it easy to collect your points? Is there a welcome offer to give you a boost?

What is the difference between rewards points and cash back?

The value of your rewards points varies depending on the type of program you are enrolled in. If you’re part of a points-based program, you earn points on your purchases and redeem them for rewards, usually a discount on the price of an item or service.

If you are part of a cashback program, your rewards points will depend on the cashback amount or percentage. Some programs offer better value than others and it is worth clicking on the links in the table above to see if there are any additional or special offers before deciding which program you want to join.

Charles is a digital marketing enthusiast with a knack for search engine optimization (SEO). He is responsible for content optimization and data analysis. In addition to his marketing responsibilities, he also assists other departments when possible. He is also a true fan of personal finance. Since he was very young, he has been interested in this field.