34 min read
Published: October 29, 2026
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What 250 million award fares reveal about what your miles can actually do
We judge loyalty programs the way travelers do: by the whole trip, not just the deal.
For years, airline rewards programs have been judged by the spectacular one-time redemption: the business class seat that normally costs thousands of dollars, or the little-known partner deal that turns 60,000 points into bragging rights.
Those deals are real, and we will always love them. But they are not how most people experience airline loyalty.
Most travelers have a destination in mind, dates they can't easily change and a points balance they've spent years building. What matters is whether they can find a seat and actually book it, at a price that feels right, without having to become an expert.
That's getting harder. In an August 2026 survey of 1,216 point.me members, 86% said award prices feel higher than they did a couple of years ago. Asked what matters most when redeeming, members were nearly evenly split: 39% prioritized finding an available seat, while 38% prioritized getting the lowest price.
As prices rise and seats get harder to find, the gap between a program’s best deal and a seat you can actually book matters more every year.
Most travelers have a destination in mind, dates they can't easily change and a points balance they've spent years building. What matters is whether they can find a seat and actually book it, at a price that feels right, without having to become an expert.
We scored 33 programs across eight categories that are useful to U.S. travelers:
What your points are worth (60%)
These three categories count the most because they decide how fast you build a balance, how far it goes and how many airlines you can spend it on. More partners also means more chances to find a seat when your own airline has none.
Ease of Earning
Redemption Rates
Partner Opportunities
How easy points are to use (25%)
These three categories measure whether you can find a seat on the dates you want, whether booking it online is simple or takes a phone call and a workaround, and whether you can hold a seat while you move points.
Award Availability
Redemption Experience
Award Holds
What happens when plans change (15%)
These two categories cover what happens after you book: whether you can get help and what it costs to change or cancel.
Customer Service
Change Fees
Drawing on more than 250 million award fares and research by our loyalty experts, we ranked 33 programs across eight categories, measuring not just the theoretical value of their miles, but how useful those miles are when it's time to book a trip.
Here’s how the 33 programs stack up, starting with the 10 that do the best job of turning the miles you’ve earned into trips you can actually take.
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Top 10 Airline Rewards Programs 2026
#1 Air France-KLM Flying Blue
2026 score: 88.8
2025 rank: #1
For the third year in a row, Air France-KLM Flying Blue is the world's best airline rewards program. It doesn't win based on just one category, either. Few programs do as well on earning, partners and availability at the same time. It's easy to build a balance and easy to spend it on an available seat.
Start with price and seats. Award prices are fair on Flying Blue's own flights and on their partners’, especially in economy and premium economy. Monthly Promo Rewards lower prices even further on select routes. Seats are easier to find than in most international programs, since they offer last-seat availability on points with competitive floor and ceiling prices.
The miles are easy to earn. Flying Blue accepts every major transferable currency, often with transfer bonuses, and families can pool miles at no cost. And those miles go a long way. Beyond SkyTeam, members can book an unusual list of airlines, including oneworld carriers like Japan Airlines and Qantas. Air France and KLM together serve a long list of U.S. gateways, and children ages 2 to 11 get discounted awards on both.
Loyalty has become a strategic lever in global aviation, and for the third year running, the data puts Flying Blue at the top. The program carries the strength of Air France, KLM, and Transavia beyond the flight, wherever our members travel and wherever they spend. That connection is one of the Group’s defining competitive advantages, and loyalty will remain at the center of how we win and keep customers.
-Benjamin Lipsey,
Senior Vice President, Loyalty, Digital, and Data | President, Flying Blue Miles
When a trip goes wrong, Flying Blue is one of the few programs that will rebook you through a nearby airport if it gives you a better itinerary. It also still offers award holds by phone – a rare safety net – while points transfer.
The trade-offs are few, but they exist. Air France and KLM can show different award prices and availability on their own websites and mobile apps, even though they share a program. Changing or canceling an award costs about $75 per person, per reservation, when leading U.S. programs let you cancel for free.
Transfer from: Amex Membership Rewards, Chase Ultimate Rewards, Capital One, Wells Fargo and Bilt (all 1:1), plus Citi ThankYou (1:1 on premium cards)
Strengths:
Every major transferable currency transfers in, often with bonuses
One of the widest partner lists in this report
Free family pooling and child award discounts
Rebooking through a nearby airport after a disruption
Watch-outs:
Change and cancel fees around $75 per person, per reservation
Air France and KLM sites and mobile apps can show different award prices and availability
#2 United MileagePlus
2026 score: 85.0
2025 rank: #5
United MileagePlus is the highest-ranked U.S. program this year. It’s still one of the easiest programs for getting on the flight you want, given that any seat United sells for cash can be booked with miles, down to the last seat on the plane. The search engine shows creative routings that mix United with its partners, which helps you book travel anywhere around the globe, and changes and cancellations are free and can be handled online. It also earns top marks for customer service, when a cancellation disrupts an award trip: United rebooks you onto its other flights regardless of current price, a strong safety net. In addition, its miles-pooling feature allows up to five people to combine their miles together at no additional cost to book an award ticket, including on partner flights.
United moved more of its value behind its credit card in April, and cardholders now get at least 10% off United-operated awards. Our scores reflect what a member can expect without it.
Earning options are narrower than with most of its peers: only Chase and Bilt transfer in. And there are no free award holds, so a transfer is a commitment.
Transfer from: Chase Ultimate Rewards (1:1), Bilt Rewards (1:1)
Strengths:
Any seat United sells for cash is bookable with miles
With mixed-airline itineraries bookable online, members have more ways to use their points to reach their destination
Free changes and cancellations
Generous rebooking policy for when trips break involuntarily
Watch-outs:
Best prices and basic economy earning now require a United card
It receives only two transferable currencies
No free award holds
#3 Air Canada Aeroplan
2026 score: 82.2
2025 rank: #7
If your goal is global reach, nobody beats Air Canada Aeroplan. You can use its points with more airlines than any program in this report, across Star Alliance and well beyond it. Booking is simple on the web and in the app, and there are no extra steps to book for someone else. Since July 2026, you can redeem Aeroplan points directly for World of Hyatt stays at fixed rates, a rare redemption option for an airline program.
Air Canada's hubs in Toronto, Montreal and Vancouver connect to U.S. cities with limited international service, like St. Louis, Cincinnati and Salt Lake City. Stopovers cost just 5,000 points, even on one-way awards.
Prices did go up this year. The June chart update raised most award prices on partner airlines, including flights from the U.S. to Europe and Asia in business class. Change and cancellation fees are among the highest in the top 10, and phone hold times can be long. But when a partner schedule change disrupts a trip, Aeroplan rebooks you on its own flights at no extra cost, even if the new flights would cost far more points.
Transfer from: Amex Membership Rewards, Chase Ultimate Rewards, Capital One and Bilt (all 1:1), plus World of Hyatt (2:1)
Strengths:
The most partner airlines of any program in this report
Global reach through Air Canada’s network, with especially strong coverage to and from the U.S.
Stopovers for 5,000 points, even on one-way awards
Rebooking help when partners involuntarily change schedules
Watch-outs:
Higher award prices after the June 2026 update
Among the highest change and cancel fees in the top 10
Long phone hold times
#4 Atmos Rewards
2026 score: 80.9
2025 rank: #3 (as Alaska Mileage Plan)
Atmos Rewards may have the most valuable miles of any U.S. program, if you can collect enough of them. The combined program from Alaska and Hawaiian pairs some of the strongest award prices in the field, especially on partners, with a simple booking flow and free changes and cancellations.
The partner list is a strength. Beyond oneworld carriers like Japan Airlines, Qantas and Cathay Pacific, members can book airlines outside the alliance, including STARLUX and Condor. Partner awards are often cheaper in miles than Alaska's own flights on the same route.
Earning, however, is a challenge. Bilt is the only major transferable currency that moves into Atmos (although starting in 2027, certain Bank of America cards will be able to transfer to Atmos Rewards). The partner booking fee also went up to $20 and it’s non-refundable when you cancel the reservation. Pooling is limited to holders of the premium Summit card, which also waives the partner booking fee.
The network is strong on the West Coast and in Hawaii and Alaska, but members east of the Rockies rely heavily on partners.
Transfer from: Bilt Rewards (1:1)
Strengths:
Strong award prices, especially on partners
A useful partner list, including STARLUX and Condor
Easy booking
Free changes and cancellations
Watch-outs:
Bilt is the only major transferable currency
Partner booking fee now $20, waived with the Summit card
A West Coast-focused route map for its own flights
#5 American Airlines AAdvantage
2026 score: 80.6
2025 rank: #2
American AAdvantage is a top pick for ease of use. It lets you hold an award seat online for free, without any miles in your account, for up to 24 hours. That's a real safety net while you wait for points to transfer or you’re deciding on a trip.
It's also one of the few North American programs still publishing an award chart for partner flights, so you can see what a trip should cost before you commit. It prices its own domestic flights competitively, though awards on its international routes can get expensive. Changes and cancellations are free on every award.
American barely changed its program this year, and for members that's mostly good news. Where AAdvantage falls short is earning and partner reach. Citi is the only bank currency that transfers in. Beyond oneworld, only a handful of airlines can be booked with miles, and outside Europe and Latin America most award trips depend on partner seats, which are often scarce in premium cabins.
Transfer from: Citi ThankYou Rewards (1:1 on Strata Premier, Strata Elite and Prestige; lower on no-annual-fee cards)
Strengths:
Free online award holds
A published partner award chart and competitive pricing on its own flights
Free changes and cancellations
Watch-outs:
Citi is the only transferable currency
A thin partner list outside oneworld
Scarce partner seats in premium cabins
#6 Qatar Airways Privilege Club
2026 score: 72.5
2025 rank: #10
Qatar Airways Privilege Club uses Avios, one of the easiest airline currencies to earn. Amex, Capital One, Citi and Bilt all transfer in directly. Avios also move freely between Privilege Club, British Airways Club, Iberia Club, AerClub and Finnair Plus, and each of those programs has its own transfer partners, so you have even more ways to build a balance. Qatar also issues two U.S. co-brand cards, which is rare for an international program.
The network is the draw. Qatar flies nearly everywhere via Doha and releases more award space to its own members than to partner programs, which makes Privilege Club the most reliable way to book QSuites, one of the best business-class seats in the air. Saver awards, partner awards and fixed-price Flexi awards are all competitively priced, though Flexi awards can be booked only online.
Booking got harder this year. Members can redeem only for themselves and up to four people on their “My List.” Travelers under 18 must go on a separate “Friends & Family” list that requires qualifying activity, so families may not be able to book their kids on points.
Costs can also catch you off guard. Taxes and fees aren’t shown until you have enough Avios to cover the flight, and they can run to hundreds or even thousands of dollars. That means you may not know the true cost until after you’ve transferred points you can’t take back. Changes and cancellations cost $25 per person more than 24 hours before departure and $100 within 24 hours.
Transfer from: Amex Membership Rewards, Capital One and Bilt (all 1:1) and Citi ThankYou (1:1 on premium cards)
Strengths:
Easy to earn through the shared Avios currency
Competitive redemption rates on own and partner flights
Global network with flexible routing via Doha
The most reliable way to book QSuites
Watch-outs:
Awards bookable only for people on “My List” or the “Friends & Family” list
Call centers can't book Flexi awards
Change fees up to $100
Award taxes and fees are hidden until you have enough Avios to book
#7 JetBlue TrueBlue
2026 score: 72.2
2025 rank: #8
JetBlue TrueBlue is one of the easiest programs for turning points into a trip. Booking is simple, there are no limits on who you can book for, and any seat JetBlue sells for cash can be booked with points. Changes and cancellations are free on core fares, and points pools can include up to seven friends or family members.
Points are easy to collect, too. Five bank currencies transfer in, though Amex and Capital One convert at less than 1:1, and the Blue Sky partnership lets members earn TrueBlue points on United flights. You can also get up to 15% of your points back as a rebate on redemptions by having its co-brand card, which helps your balance go further.
Partners are where TrueBlue still trails. JetBlue doesn’t belong to any alliances and builds partnerships one at a time, so its list is one of the shortest in the top 10. Blue Sky now lets JetBlue members redeem on United's network, and China Airlines provides a redemption option to Asia. Hold times can be long when weather disrupts Boston and New York, and canceling an award returns the taxes as JetBlue travel credit, not to your card.
Transfer from: Chase Ultimate Rewards and Wells Fargo (1:1), Amex Membership Rewards (5:4), Capital One (5:3), Citi ThankYou (1:1 on premium cards)
Strengths:
A very easy booking flow
Any JetBlue seat sold for cash is bookable with points
Free changes and cancellations on core fares
Five bank currencies transfer in
Watch-outs:
Still one of the smallest partner lists
Long hold times during disruptions
Tax refunds on canceled awards come as travel credit
#8 The British Airways Club
2026 score: 71.3
2025 rank: #6
The British Airways Club anchors Avios, one of the most flexible currencies in travel. Nearly every major transferable currency converts to Avios, and Avios move freely between British Airways, Iberia, Aer Lingus, Finnair and Qatar. Collect them from many sources, then use whichever program offers the best price.
British Airways has the largest U.S. network of any European airline, including smaller cities that aren’t known for their international flight offerings like Cincinnati, OH and Hartford, CT. The program guarantees a minimum number of award seats on long-haul flights, business class included, but its Award Availability score still slipped from last year. Award space has become harder to find, and programs with last-seat availability perform better here.
Using Avios on British Airways itself got more expensive this year: award prices rose about 10% in December 2025, and cash surcharges went up in May. Per-flight pricing means that connections add up. The booking flow takes extra clicks, booking for others requires that you add them to a list first, and U.S. phone support closes at 5 p.m. Pacific. Change fees top out around $55, but you can forfeit the taxes instead when they cost less than the change fee.
Transfer from: Amex Membership Rewards, Chase Ultimate Rewards, Capital One, Wells Fargo and Bilt (all 1:1)
Strengths:
Avios is one of the easiest currencies to build
A minimum award-seat guarantee on long-haul flights
Reasonable change fees with a taxes-forfeit option
Watch-outs:
Higher Avios prices and surcharges this year
A clunky booking flow
Limited U.S. phone hours
#9 Virgin Atlantic Flying Club
2026 score: 70.0
2025 rank: #4
Virgin Atlantic Flying Club has some of the lowest Saver prices around, if you can find them. Saver awards are priced very low in every cabin, including Upper Class (its business class product), putting a premium seat to Europe within reach without a massive balance, as long as you're flexible. Every major transferable currency moves in, though some route through sister program Virgin Red first. Either way, transfers stay at 1:1, so you don’t lose any value along the way, and those prices are easy to reach.
The trick is finding bookable seats. Since Virgin moved to dynamic pricing, those saver awards are real but not as widely available. Flexibility on dates and routes goes a long way, however, to finding that low pricing. Taxes and fees can also be high, especially leaving the UK. Holds on Virgin-operated flights are helpful while your points transfer.
The partner list goes beyond SkyTeam and includes airlines like ANA and Air New Zealand, with published charts for every partner. It’s harder to use than it looks: premium seats on those partners are rare, and most partner awards still have to be booked by phone. Change and cancellation fees are up to $100 USD or £70 GBP, depending on the departure country. If the taxes are less than the applicable fee, you can forfeit the taxes instead.
Transfer from: Amex Membership Rewards, Chase Ultimate Rewards, Capital One, Wells Fargo and Bilt (all 1:1), plus Citi ThankYou (1:1 on premium cards)
Strengths:
Very low Saver prices in every cabin
Every transferable currency moves in
Award holds on Virgin flights
Published award charts for every partner
Watch-outs:
High taxes and fees on UK departures
Most partner awards require a phone call
Change fees up to $100 USD or £70 GBP, with a taxes-forfeit option
#10 Cathay Pacific Asia Miles
2026 score: 69.4
2025 rank: #11
Cathay Pacific Asia Miles is best for travelers headed to Asia or Oceania via Asia. On its own flights, Cathay opens more award seats to Asia Miles members than to other programs, a real advantage for those seeing business- and first-class awards. Award holds and helpful service add to that, and its chat agents can book award tickets, something many programs can't do.
Miles are easy to collect from a long list of bank partners, but not every transfer is 1:1. The partner list includes every oneworld airline plus airlines like LATAM and Bangkok Airways, though many partner awards are limited to select routes.
For most U.S. travelers, Cathay itself can be hard to fly. Its U.S. network is small, and you can't add American or Alaska connections to a Cathay award, so it works best if you live in a gateway city. Booking takes patience: the site can queue you, results shift between searches, and you have to add people as “nominees” before you can book for them. Change and redeposit fees are among the steepest in the industry.
Transfer from: Amex Membership Rewards (5:4), Capital One (1:1), Wells Fargo (1:1) and Bilt (1:1), plus Citi ThankYou (1:1 on premium cards)
Strengths:
More award space on Cathay flights for Asia Miles members
Award holds and chat agents can book awards
Many bank transfer partners
Watch-outs:
A small U.S. network, with no partner airline connections on Cathay awards
Booking for others requires adding nominees first
High change and redeposit fees
Several transfer ratios below 1:1
Full List of Scores
| 1 | Air France-KLM Flying Blue | 88.8 | ||||||||
| 2 | United MileagePlus | 85.0 | ||||||||
| 3 | Air Canada Aeroplan | 82.2 | ||||||||
| 4 | Atmos Rewards (Alaska / Hawaiian Airlines) | 80.9 | ||||||||
| 5 | American Airlines AAdvantage | 80.6 | ||||||||
| 6 | Qatar Airways Privilege Club | 72.5 | ||||||||
| 7 | JetBlue TrueBlue | 72.2 | ||||||||
| 8 | The British Airways Club | 71.3 | ||||||||
| 9 | Virgin Atlantic Flying Club | 70.0 | ||||||||
| 10 | Cathay Pacific Asia Miles | 69.4 | ||||||||
| 11* | Singapore Airlines KrisFlyer | 68.1 | ||||||||
| 11* | Japan Airlines JAL Mileage Bank | 68.1 | ||||||||
| 13* | Emirates Skywards | 67.8 | ||||||||
| 13* | ANA Mileage Club | 67.8 | ||||||||
| 15* | Qantas Frequent Flyer | 67.5 | ||||||||
| 15* | Etihad Guest | 67.5 | ||||||||
| 17* | avianca lifemiles | 65.6 | ||||||||
| 17* | Aer Lingus AerClub | 65.6 | ||||||||
| 19* | Iberia Club | 65.0 | ||||||||
| 19* | EVA Air Infinity MileageLands | 65.0 | ||||||||
| 21 | Turkish Airlines Miles&Smiles | 64.4 | ||||||||
| 22* | Delta SkyMiles | 63.1 | ||||||||
| 22* | Southwest Airlines Rapid Rewards | 63.1 | ||||||||
| 24 | Finnair Plus | 60.0 | ||||||||
| 25 | Aegean Miles+Bonus | 58.1 | ||||||||
| 26 | Virgin Australia Velocity | 55.3 | ||||||||
| 27 | Miles & More | 55.0 | ||||||||
| 28 | TAP Miles&Go | 53.8 | ||||||||
| 29 | Malaysia Airlines Enrich | 50.6 | ||||||||
| 30 | SAS Eurobonus | 50.0 | ||||||||
| 31 | Korean Air SKYPASS Club | 49.4 | ||||||||
| 32 | Thai Airways Royal Orchid Plus | 48.1 | ||||||||
| 33 | Aeromexico Rewards | 46.3 |
*Result is a tie at the rank and score
NOTE: 2025 rankings are based on a list of 59 programs. This year's field is smaller at 33, which impacts rankings changes for some programs. See Methodology below.
What changed in 2026
Air France-KLM Flying Blue held the top spot for a third straight year. United (fifth to second) and Aeroplan (seventh to third) jumped into the top three, while American (second to fifth) and Virgin Atlantic (fourth to ninth) slipped. Qatar climbed to sixth and Cathay moved into the top 10 while Emirates fell out.
2026 rank | Program | 2025 rank | Change |
|---|---|---|---|
1 | Air France-KLM Flying Blue | 1 | No change |
2 | United MileagePlus | 5 | Up 3 |
3 | Air Canada Aeroplan | 7 | Up 4 |
4 | Atmos Rewards | 3 | Down 1 |
5 | American AAdvantage | 2 | Down 3 |
6 | Qatar Airways Privilege Club | 10 | Up 4 |
7 | JetBlue TrueBlue | 8 | Up 1 |
8 | British Airways Club | 6 | Down 2 |
9 | Virgin Atlantic Flying Club | 4 | Down 5 |
10 | Cathay Pacific Asia Miles | 11 | Up 1 |
Regional Winners
These are the top-scoring programs based in each region.
Americas
Winner: United MileagePlus
Runner up: Air Canada Aeroplan
View the ranking chart for the Americas →
Europe
Winner: Air France-KLM Flying Blue
Runner up: The British Airways Club
View the ranking chart for Europe →
Asia & Oceania
Winner: Cathay Pacific Asia Miles
Runners up: Japan Airlines Mileage Bank and Singapore Airlines KrisFlyer
View the ranking chart for Asia & Oceania →
Middle East
Winner: Qatar Airways Privilege Club
Runner up: Emirates Skywards
Category Winners
These are the top-rated programs in each category. When programs tie in a single category, the higher overall score determines the winner.
Ease of Earning
How easily you can build a balance through cards and transfers.
Winner: Air France-KLM Flying Blue
Runners-up:
Air Canada Aeroplan
Qatar Airways Privilege Club
Redemption Rates
What awards really cost, based on what members actually pay.
Winner: Atmos Rewards
Runners-up:
Japan Airlines Mileage Bank
ANA Mileage Club
Partner Opportunities
How many airlines you can book with your miles.
Winner: Air France-KLM Flying Blue
Runners-up:
Air Canada Aeroplan
ANA Mileage Club
Redemption Experience
How smoothly an online booking goes, from start to finish.
Winner: United MileagePlus
Runner up: Delta SkyMiles
Award Availability
How likely you are to find a seat you can book.
Winner: Air France-KLM Flying Blue
Runners-up:
United MileagePlus
Air Canada Aeroplan
Customer Service
How well a program helps when something goes wrong.
Winner: United MileagePlus
Runner up: Delta SkyMiles
Change Fees
What it costs to change or cancel after you've booked.
Winner: United MileagePlus
Runners-up:
American AAdvantage
Southwest Rapid Rewards
Award Holds
Whether you can hold a seat while you transfer points or confirm plans.
Winner: American AAdvantage
Runners-up:
Air France-KLM Flying Blue
Virgin Atlantic Flying Club
Emirates Skywards
Key Trends
A few patterns emerged this year. They explain much of what separates the programs in these rankings.
The co-brand era has arrived
A program's best award prices and seats are increasingly reserved for members who carry its credit card. United now gives cardholders at least 10% off its awards, access to Polaris saver space and miles earning on basic economy. JetBlue and Delta offer rebates or discounts on redemptions for cardholders, and Atmos waives its partner booking fee for Summit cardholders. The card in your wallet increasingly decides what you can book and what you pay.
Airlines used to sell co-brand cards to their frequent flyers. Now the cards are among their most profitable products, and programs are being rebuilt around the people who hold them. Delta alone was paid a reported $8.2 billion by American Express in a single year. When a card portfolio earns that much, it drives strategy.
The visible result is that airlines are gating awards and perks to their cardholders. United won't let you earn miles on a basic economy ticket unless you hold its card, and it opens Polaris saver space to its cardholders. JetBlue gives cardholders a 10% to 15% rebate on redemptions. Delta gives eligible Delta Amex cardholders 15% off Delta-operated award flights. The new Atmos Summit card adds a companion award, waives partner booking fees and earns a rare 3x on spending abroad.
The through-line: if you fly one airline often, its card is no longer optional if you want the program's best prices and seats.
Partner award space is vanishing
Airlines are steering their best seats, especially in premium cabins, to their own members. That makes a program's own network matter more, and it adds risk for programs that depend on partner space.
For years, a standard award-booking strategy was to book an airline through one of its partners, where the price was often better. That opening is narrowing. Our data, counting days in the next 12 months with award space at the lowest price:
Route | Booked through a partner | Booked through the airline's own program |
|---|---|---|
Etihad first class, JFK to Abu Dhabi | AAdvantage: 0 days | Etihad Guest: 118 days |
Japan Airlines business class, SFO to Tokyo | Atmos Rewards: 0 days | JAL Mileage Bank: 10 days |
United Polaris, Newark to LA | Aeroplan: 0 days | United: 38 days |
Data as of October 1, 2026
Same seat, very different access. Value still exists, but it's increasingly found in a program's own currency.
More trends we discovered
Award prices kept climbing. Aeroplan raised most partner award prices in June, and British Airways raised Avios prices by about 10% in December. avianca lifemiles also raised its rates a few times this year, though the increases were harder to track because the program doesn’t publish an award chart. Singapore KrisFlyer raised its rates last November as well, after last year’s report came out.
Where your points come from matters as much as where they go. The programs that are easiest to earn did well again. Flying Blue accepts every major transferable currency, and Avios move freely across British Airways, Iberia, Aer Lingus, Finnair and Qatar. At the other end, some of the most valuable miles are also the hardest to earn: Atmos points transfer only from Bilt, and AAdvantage miles only from Citi.
Flexibility is a real differentiator. Free changes and cancellations, and true award holds, set programs apart. American lets you hold an award online for free. Change fees remain a weak spot, even for our top program.
Methodology
How we scored the 2026 report
This year's report uses the same framework as our 2025 report: the same eight categories, at the same weights. We used a mix of quantitative and qualitative data to evaluate each program's earning options, award prices, partners, booking experience and policies as of August 1, 2026, then calculated an overall score for each program.
Categories are weighted by their impact on the everyday U.S. traveler, who usually has larger points balances earned on credit cards, limited vacation days and fixed travel dates, and often doesn’t know how to transfer points. So, we evaluated each program on what a typical traveler experiences, not on expert scenarios, and we did not consider status benefits. A program that works well in its home market can be much harder to use elsewhere, and our ratings reflect that.
Member survey. To check this framework against how people actually use their points, we surveyed 1,216 point.me members in August 2026. When asked what matters most when they redeem, 39% said finding a seat that's actually available and 38% said getting the lowest price. Those priorities are reflected across Redemption Rates, Partner Opportunities and Award Availability, which together make up half of each program's score.
Star ratings. Each category is rated on a four-star scale, in half-star increments. Overall scores, out of 100, are calculated from these ratings and their weights.
Which programs we ranked. We narrowed this year's rankings from 59 programs to 33 to focus on those offering meaningful redemption opportunities for U.S. travelers. The revised selection emphasizes competitive award pricing, practical earning options and access to useful airline partnerships.
Because the set of programs has changed, year-over-year ranking changes should be interpreted alongside changes in each program's underlying category ratings.
How to use these rankings. No single program is best for every traveler. Where you live, where you want to go, which points you hold and how flexible your plans are can matter more than a program's overall ranking. These scores are designed to measure broad usefulness, not to prescribe the best program for every trip.
What your points are worth
Ease of Earning (20%)
How easily can you build a balance?
We looked at the points available through U.S. co-brand credit cards and the major transferable bank currencies, and how far they go for a typical person who earns mostly through everyday spending rather than flying. We also considered how often programs offer transfer bonuses and discounts on buying miles, and whether members can pool miles.
Redemption Rates (20%)
How much do awards really cost?
We looked at the miles required on the most popular short-, medium- and long-haul routes from each airline's hub, like British Airways from London or Qantas from Sydney, where travelers have fewer choices. Because many programs now use dynamic pricing, we looked at typical prices as well as the lowest ones, so programs that offer more seats aren't unfairly penalized. This allows us to distinguish between the exceptional redemption that makes headlines and the prices travelers are more likely to encounter when they actually search. Our review of award prices draws on more than 250 million real award fares.
We score award prices as a loyalty member without the airline's credit card. Where a program reserves its lowest prices, discounts or rebates for cardholders, we note it in that program’s write-up.
Partner Opportunities (20%)
How far beyond its own airline can a program take you?
The best programs reach well beyond their own airline, through alliances like oneworld, SkyTeam and Star Alliance and through partnerships outside them. Airlines have wide discretion over which partner flights they release to other programs, and on what terms. So we looked at how many airlines each program can book, how useful those airlines are to U.S. travelers, and how much partner award space each program can actually book, based on point.me award search results.
How easy they are to use
Redemption Experience (10%)
How easy is it to book an award without being an expert?
Booking an award can be the hardest part of using points. We looked at how likely a non-expert is to succeed: how easy it is to search for, find and book an award on the airline's website and app, and how often you have to call to finish a booking. We also considered routing rules that block travel between certain regions, limits on stopovers and limits on who you can book for.
Award Availability on the Program's Own Airline (10%)
How likely are you to find an award seat on the program's own airline?
We looked at whether a program opens extra award space on its own flights, whether that pricing is fixed or dynamic, how much space is actually available on a given route, and how useful the airline’s route network is for U.S. travelers.
Award Holds (5%)
Can you hold an award seat while you transfer points or confirm plans, and how easy is it?
Most points are now earned on credit cards, and many transfers aren't instant, so a hold is often what turns a transfer into a booking. We looked at whether each program offers holds, the rules around them, and how easy they are to place. Programs that don't offer award holds receive zero stars in this category, a change from last year.
What happens when plans change
Customer Service Quality (7.5%)
How well does a program help when you need it?
We looked at how many calls it takes to resolve an issue, time spent on hold, whether the traveler was ultimately taken care of, and how well each program supports passengers through involuntary changes or cancellations.
Change Fees and Policies (7.5%)
What happens if your plans change?
We looked at what it costs a family of four to change or cancel an award more than 24 hours before departure. Top marks go to programs that redeposit miles for free or let you rebook for only the difference in miles, ideally without a phone call.
Why point.me
This report comes out of a problem we work on every day. There are 33 programs in these rankings, each with its own pricing, partners and rules, and the same flight can cost very different amounts depending on which one you book it through. No traveler can hold all of that in their head, and the more options there are, the more there is to compare.
That's what point.me does. We show the options across programs that are bookable with the points you actually hold, what each costs and how to complete the booking, all in a single search. If you'd rather hand it off to someone, our concierge team books it for you.
Points are only worth what you can actually book with them. That's the standard we held these programs to, and it's why we publish this report. The pricing behind these rankings comes from real searches for trips travelers wanted to take.
About point.me
point.me is the leading award travel search platform powering the future of loyalty. Founded in 2022, point.me transforms travelers' points and miles into more buying power, for consumers directly and for the financial institutions that serve them.
point.me helps travelers unlock and use their points with confidence across 150+ credit cards and loyalty programs, while enabling banks and fintechs to embed a complete travel and lifestyle redemption experience directly in their app. Already trusted by millions of travelers and backed by leading financial institutions, point.me is changing how people think about paying for travel.
Named to Fast Company's World's Most Innovative Companies list in 2024 and 2025, point.me is backed by investors including Nyca Partners, Citi Ventures, Samsung, the founders of ITA Software (Google Flights), Thayer, Jeffrey Katzenberg's WndrCo, Brian Kelly (The Points Guy), Meta and DoorDash executives, and Bethenny Frankel, alongside other top-tier venture firms.
About the author
Jimmy Yoon
point.me Head of Points Intelligence
Jimmy has been in the loyalty space since 2005 and has personally helped point.me members redeem over 1 billion miles for premium flights and hotel stays. He specializes in award availability, transfer partner strategy, and squeezing maximum value out of every mile.
