AIR MILES Value: Dream Rewards & Cash Rewards

Calculate the average cash value of AIR MILES Rewards Miles earned in the AIR MILES Canada program and get the list of redemption options.
Value of 1 Mile Redemption
$0.105 Cash Rewards
$0.08 to $0.13 Dream Rewards Merchandise
$0.09 to $0.15 Dream Rewards Events/Attractions
$0.10 to $0.15 Dream Rewards Flight
$0.20 to $0.30 Dream Rewards Flight Short-Haul/Last-Minute

AIR MILES are split up into two different types when it comes to redeeming them: AIR MILES Cash Rewards and AIR MILES Dream Rewards. Both methods can get you some solid value out of your AIR MILES. By default, rewards will be put towards your Dream balance, but you can opt to earn 100% towards AIR MILES Cash or set a specific percentage from 0 to 100% on how you want it split up.

AIR MILES Value Calculator

Use the AIR MILES Value Calculator to calculate the average cash value of AIR MILES based on the listed redemption options. You can enter any amount in the field below.

AIR MILES Value Calculator

Enter any amount of miles to see the average cash value.
AIR MILES Cash Rewards
10.5 Cents
Dream Rewards Merchandise
8 Cents to 13+ Cents
$0 - $0
Dream Rewards Events/Attractions
9 Cents to 15 Cents
$0 - $0
Dream Rewards Flight
10 Cents to 15 Cents
$0 - $0
Dream Rewards Flight Short-Haul/Last-Minute
20 Cents to 30+ Cents
$0 - $0

AIR MILES Cash Rewards

AIR MILES Cash Rewards can be redeemed instantly in store with your AIR MILES balance or they can be redeemed for eVouchers that you can use when shopping at partners. Most redemptions will cost 95 AIR MILES Reward Miles for a $10 reward giving AIR MILES a value of 10.5 cents each in value. Do note that Depending on which providence you're in, the sponsors will be different. You can check out the AIR MILES Sponsor Directory Page for a full list of Sponsors by providence.

earn airmiles with iga
Use AIR MILES Featured Offers to earn easy bonus points when shopping with AIR MILES Sponsors.

AIR MILES Dream Rewards

AIR MILES Dream Rewards is the standard way of earning AIR MILES Reward Miles. Redemptions for Dream Rewards consist of merchandise, entertainment, and travel. The redemption value for AIR MILES Dream Rewards will vary between 8 cents to 15+ cents per AIR MILE. You can use the Points & Miles Cash Value Calculator to calculate the exact value of your AIR MILES if you know the cost in cash and the cost in AIR MILES.


AIR MILES can be redeemed for merchandise ranging across many categories such as electronics, fashion & beauty, sports & fitness, kitchen & dining, and much more. Redeeming AIR MILES for merchandise will generally give you a wide range of 8 cents to 13+ cents. It all really depends on the average value of the item you're redeeming your points for. Certain items will be better than others when it comes to redemption cost.

Events & Attractions

AIR MILES can be redeemed for events and attractions through the Dream Rewards portal. This includes admission to parks, theatre, golf, spa, movies, and stage passes. The value of AIR MILES will vary when used in this manner depending on the redemption. I was able to find redemptions valuing between 9 cents and 15 cents per AIR MILES for various entertainment purchases.


While AIR MILES Reward Miles can be put towards many different redemptions, using them for travel will usually get you the best value. The AIR MILES travel section includes flights, hotels, car rentals, and package vacations/cruises. The value of AIR MILES will usually vary, but you can get at least 10 to 15 cents per AIR MILES Reward Mile. Be sure to look at other prices from other sites such as Expedia or Orbitz to get an idea of how much the flight would cost in cash. Sometimes the AIR MILES site tends to show higher prices than most would be willing to pay when there's better deals to be found elsewhere.

The good thing is that since AIR MILES redemptions on travel are pretty static, they can be great for last minute bookings in which the cash price may have risen significantly. This also makes them great for short-haul flights within the Canada Providences.


Regardless of the redemption option you choose, AIR MILES will still offer you great value. You can easily get more than 10 cents per miles without too much of a hassle whether that's toward cash rewards or towards various types of redemptions.

If you're looking for ways to build your AIR MILES, you can easily earn AIR MILES spending with partners. You can also earn rewards on everyday spend using great AIR MILES credit cards like the AMEX AIR MILES Reserve Card or the BMO AIR MILES World Elite Mastercard.

Updated 2021-01-23 By Robert Flowers III

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