Points, miles and cashback: what are rewards really worth?
In short
A reward is only worth what you can realistically redeem it for, after it posts and before it expires. Cashback is closest to cash; points and miles vary widely by redemption. Earning and spending the same reward must never be counted as two separate savings.
The life of a reward
Earned: the purchase qualifies. Pending: the reward is promised but not yet credited. Posted: it appears in your balance. Spendable: you can use it. Redeemed, transferred or expired: it leaves your balance. Each step has its own date.
Points are not automatically money
Many programs let you redeem points at different rates for flights, products or statement credit. A point has no single cash value; its value depends on the redemption you will actually use.
Transfers and conversions
Some programs let you move points to partners at a fixed ratio, often with minimums, fees and delays. A conversion is only useful if the target program has a redemption you need before the points expire.
Avoid counting twice
If a purchase earns 1,000 points and you later use those points on another purchase, the saving happens once – when you redeem them. AIPromo tracks rewards as one balance across your plan so they are never counted twice.
Questions and answers
How much is one point worth?
It depends on the program and the redemption. Use the value of the redemption you will actually make, not the best possible rate.
Do rewards expire?
Many do. Check each program's expiry rules; AIPromo shows expiry dates next to rewards.