The Three Types of Points & Miles
1. Flexible Credit Card Points
Examples: Chase Ultimate Rewards, Amex Membership Rewards, Citi ThankYou Points, Capital One Miles, Bilt Rewards
How they work: These points transfer 1:1 (or close to it) to multiple airline and hotel partners. Chase UR transfers to 14 partners including United, Southwest, Hyatt, and IHG. Amex MR transfers to 20+ partners including Delta, Air Canada, British Airways, and Hilton.
Why they're best: You're not locked into one airline or hotel. If United has no award seats, try Air Canada or British Airways. If Hyatt is sold out, try Marriott.
2. Airline Miles
Examples: United MileagePlus, Southwest Rapid Rewards, Delta SkyMiles, American AAdvantage
How they work: These miles only work with one airline (and sometimes their partners). United miles book United flights. Southwest miles book Southwest flights.
When they're useful: If you fly one airline frequently (Southwest in California, United on the coasts), earning that airline's miles directly can make sense. But you lose flexibility.
3. Hotel Points
Examples: World of Hyatt, Marriott Bonvoy, Hilton Honors, IHG One Rewards
How they work: These points only work with one hotel chain. Hyatt points book Hyatt hotels. Marriott points book Marriott properties.
When they're useful: Hyatt has exceptional point value (1.5-2.5 cents per point). If you like Hyatt properties, earning Hyatt points directly or transferring from Chase is valuable.
Which Type Should You Start With?
Start with flexible credit card points.
Specifically, Chase Ultimate Rewards (Chase Sapphire Preferred) or Amex Membership Rewards (Amex Gold or Platinum).
Why? You keep your options open. You can transfer to airlines when you find a good flight, or to hotels when you find a good stay. You're not locked in.
Point Values Compared
Average redemption values:
- Chase Ultimate Rewards: 2.0 cents per point (cpp)
- Amex Membership Rewards: 2.0 cpp
- Capital One Miles: 1.7 cpp
- Bilt Rewards: 2.2 cpp (driven by Hyatt transfers)
- United MileagePlus: 1.3 cpp
- Southwest Rapid Rewards: 1.4 cpp
- World of Hyatt: 1.8 cpp
- Marriott Bonvoy: 0.8 cpp
See full monthly valuation table →
Next Steps
In Lesson 3, we'll set a specific travel goal (where you want to go, when, and for how many people). Having a goal makes it easier to choose the right cards and redemption strategy.