Redemption methods ranked
How reward point values really work
📊 Three program families: fixed-rate programs are predictable, bank programs with multiple tiers reward careful redemption, and transferable travel currencies such as MR, Aeroplan, Avion, and Avios offer the highest potential — with the greatest variability.
Official ratios, terms, and estimates revalidated on . Public catalogue samples listed on this page remain dated September 2; the TELUS observation is from that date as well.
TELUS Rewards: value depends on the reward
In the TELUS Rewards catalogue observed September 2, 2026, value ranged from about 0.071 to 0.087¢ per point depending on the reward. A $10 TELUS bill credit for 14,000 points yields about 0.0714¢/point; a $50 TELUS Mastercard for 59,500 points, about 0.0840¢/point; and a $100 Nintendo card for 115,000 points, about 0.0870¢/point.
Cash Instinct therefore uses ≈ 0.08¢/point as a reference value, not as a fixed or guaranteed rate. The catalogue can change. For the program and its referral offer, see the TELUS Rewards guide.
Comparison table — lower-value option vs highest potential
Medals rank the options; badges describe only the source of the data. A “published catalogue rate” may vary by item and is not a guaranteed floor; an “observed catalogue rate” comes from an authenticated observation at a given date and is not a permanent public chart.
| Program | Lower-value option | Highest potential | 10,000 pts = |
|---|---|---|---|
| Aeroplan | EDITORIAL ESTIMATEabout 1.00¢ (poorly optimized redemption) | EDITORIAL ESTIMATE2.5 to 4¢+ (premium/partners) | $100 – $400+ |
| CIBC Aventura | PUBLISHED BY PROGRAM0.625¢ (payment) | PUBLISHED BY PROGRAM4.00¢ chart maximum (selected round-trip flights) | $62.50 – up to $400 |
| British Airways Club (Avios) | EDITORIAL ESTIMATE0.8 to 1.0¢ | EDITORIAL ESTIMATE3¢+ (partner sweet spots) | $80 – $300+ |
| RBC Avion Rewards | PUBLISHED BY PROGRAM0.58¢ (Avion Select/ION/ION+) | EDITORIAL ESTIMATE2.9¢+ (temporary transfer bonuses) | $58 – $290+ |
| MR (Amex) | PUBLISHED BY PROGRAM1.00¢ | EDITORIAL ESTIMATE1.7 to 2.2¢ (transfer) | $100 – $220 |
| Marriott Bonvoy | EDITORIAL ESTIMATE0.10¢ (car rental) | EDITORIAL ESTIMATE1.0 to 1.5¢ (high-value hotel stays) | $10 – $150 |
| Scene+ (Scotiabank) | PUBLISHED BY PROGRAM0.67¢ (Points for Credit) | PUBLISHED BY PROGRAM1.00¢ (travel/groceries) | about $66.67 – $100 |
| MBNA Rewards | PUBLISHED BY PROGRAM0.50 to 0.83¢ (by card) | PUBLISHED BY PROGRAM1.00¢ (travel) | $50 – $100 |
| NBC À la carte | PUBLISHED BY PROGRAM0.40¢ (eligible personal cards) | PUBLISHED BY PROGRAM1.00¢ (travel agency) | $40 – $100 |
| BMO Rewards (card) | PUBLISHED BY PROGRAM0.50¢ (statement credit) | PUBLISHED BY PROGRAM0.67¢ (travel) | $50.00 – $66.67 |
| Blue Rewards (BMO) | PUBLISHED BY PROGRAM0.667¢ in store and for many gift cards | $66.67 | |
| TD Rewards | PUBLISHED CATALOGUE RATEabout 0.23–0.25¢ | PUBLISHED BY PROGRAM0.50¢ (Expedia for TD) | about $23 – $50 |
| PC Optimum | PUBLISHED BY PROGRAM0.07¢ (statement credit) | PUBLISHED BY PROGRAM0.10¢ (in store) | $7 – $10 |
| TELUS Rewards | OBSERVED CATALOGUE RATEabout 0.0714¢ (bill credit) | OBSERVED CATALOGUE RATEabout 0.087¢ (some gift cards) | about $7.14–$8.70 |
Programs sorted by highest to lowest optimal potential. Detailed sources at the bottom of the page.
Point value and promotion value
Point value is only one part of a broader offer. To separate rewards, fees, conditions and usable value, see the real-value promotion method.
Frequently Asked Questions
How is the value of a reward point calculated?
It is calculated by dividing the dollar value obtained by the number of points required, expressed in cents per point. For example, if 1,000 points yield a $10 travel credit, the rate is 1 cent per point. Most programs have multiple redemption methods with different rates — the best rate isn't always the most convenient.
Why does the value of the same point change depending on the redemption method?
Issuers (banks, Amex) set different rates based on where the points are spent: statement credit, gift cards, merchandise catalogs, or transfer to a travel partner. Travel/transfer redemptions generally yield the best rate within travel-points programs; gift cards and merchandise catalogs often yield less, but always check the ratio for the specific program and reward.
Which program has the easiest rate to evaluate?
Several programs publish simple ratios for specific redemptions. Blue Rewards publishes 1,500 points = $10 in store and for many gift cards, without necessarily applying that ratio to its entire catalogue. Scene+ publishes 100 points = $1 for travel, 1,000 points = $10 for groceries, and 150 points = $1 for Points for Credit on an eligible linked card.
Which program has the highest potential value?
Aeroplan has the highest documented potential in this calculator. Premium-cabin awards, partner airlines, and sweet spots can exceed 4 cents per point, but that value is highly variable and depends on award availability. A poorly optimized redemption may approach 1 cent per point; this is not an official floor.
Are Blue Rewards and BMO Rewards the same thing?
No, they are two distinct BMO programs. Blue Rewards is the new coalition program that replaces AIR MILES (Blue Points earned via debit card or receipt scanning). BMO Rewards is the points program attached to BMO credit cards (like the BMO World Elite Mastercard). The two point currencies are not interchangeable.
Are these rates guaranteed?
No. Badges distinguish data published by the program, rates calculated from a public official catalogue, rates calculated from an authenticated observed catalogue, and editorial estimates. Even published data can change; a catalogue rate depends on the item, while an editorial estimate depends on the redemption, availability, taxes, and fees.
Can Shoppers Drug Mart events increase the value of PC Optimum points?
Yes. The regular in-store rate is 10,000 points = $10. Temporary Shoppers Drug Mart offers can boost a redemption. An official Shoppers Drug Mart event advertised through October 7, 2026 offered up to $65 for 50,000 points, $140 for 100,000, $300 for 200,000, and $500 for 350,000. The Black Friday 2025 Super Redemption event went further: up to $900 for 500,000 points, or 0.18 cents per point. The 200,000-point tier yielded 0.15 cents per point, compared with the usual 0.10 cents; the highest-dollar tier is not necessarily the best rate. Terms vary, and no specific Black Friday redemption event is guaranteed. Points-earning offers increase the balance earned but do not change the regular redemption rate.
- Precise official ratios and charts: Amex statement credit and airfare chart; NBC's two travel options and NBC redemption types and minimums and April 2025 À la carte Plan (PDF); current Avion travel rates; TD pay-off-purchases values and TD program terms; Blue Rewards redemptions; Scene+ Scotiabank — travel and Points for Credit, Scene+ Tangerine, and groceries and partner redemptions; PC Optimum statement credit, PC Optimum standard value and redemption events, and Shoppers Drug Mart current offers; BMO Rewards — 150/200 points per dollar; MBNA Platinum Plus and World Elite; CIBC airfare chart and payments with points.
- Official rules without a universal fixed value: Aeroplan flight-reward pricing, RBC Avion terms and chart (PDF), how Avios work, and Marriott Bonvoy flexible pricing. These links confirm program mechanics, not community ranges.
- Recognized analysis from the Canadian travel-rewards community: Prince of Travel's Q2 2026 valuations, Milesopedia's Aeroplan guide, Milesopedia's RBC Avion valuation, and Milesopedia's Marriott Bonvoy valuation updated in September 2026. They inform an editorial synthesis and are neither official proof nor contractual rates.
- Observed catalogue: official TELUS Rewards catalogue viewed in an authenticated account on September 2, 2026. The TELUS ratios shown here are editorial calculations from the rewards displayed at that time; they are not a permanent public chart.
- Black Friday 2025 historical schedule (editorial source): PC Optimum Super Redemption summary. This community source is not official; the tiers are presented as an editorial estimate and are not guaranteed to return.