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Calculator: What's The Value of AIR MILES Rewards?

AIR MILES Calculators
Want to know the value of your AIR MILES rewards? Use this calculator to find out how much they are worth for flights, hotels, vacations, and more.
By Robert Flowers III - 2023-06-16

What Are AIR MILES?

AIR MILES Canada is the largest and most popular coalition loyalty program in Canada. It's a free-to-join program that allows you to earn points with participating retailers and redeem those points for rewards.

AIR MILES are split up into two different types: Cash Rewards and Dream Rewards. When you collect AIR MILES as Cash Rewards, you'll be able to redeem them for eVouchers and discounts on everyday purchases with in-store partners. When you collect them as Dream Rewards, you will be able to use them for experiences, merchandise, and more.

How do you earn AIR MILES?

AIR MILES are best earned spending at participating retailers and by using an co-branded AIR MILES credit cards.

Unlike your traditional rewards program in which you earn a certain amount of points for every $1 spent, with AIR MILES you will usually earn 1 AIR MILES Reward Mile for every $20 spent.

While this sounds extremely low, AIR MILES are worth anywhere from 9.5 to 20 cents each depending on how you redeem them, so you're still earning a great return when earning them.

Here are the credit cards you can use to earn AIR MILES:

Credit Card Benefits Annual Fee
Best For Earning AIR MILES
  • Earn 3 Miles for every $12 spent with AIR MILES partners
  • Earn 2 Miles for every $12 spent at eligible grocery stores
  • Earn 1 Mile for every $12 spent everywhere else
  • 25% discount on one worldwide AIR MILES flight redemption each year
  • Airport lounge access via Mastercard Travel Pass provided by DragonPass
  • Bonus AIR MILES and discounts on National Car Rental and Alamo Rent-A-Car rentals
  • Travel and shopping insurance
$120
  • Earn 3 Miles for every $25 spent with AIR MILES partners
  • Earn 2 Miles for every $25 spent at eligible grocery stores
  • Earn 1 Mile for every $25 spent on all other purchases
  • Bonus AIR MILES and discounts on National Car Rental and Alamo Rent-A-Car rentals
  • Shopping insurance
$0

How much are AIR MILES worth?

AIR MILES redeemed for Cash Rewards have a value of 10.5 cents. Every 95 AIR MILES that you redeem as cash rewards will give you a $10 discount or eVoucher for in-store purchases.

AIR MILES redeemed for Dream Rewards miles are worth anywhere from 9 to 20 cents each depending on the redemption. They can be used for merchandise, travel, and be put towards charitable donations.

AIR MILES value

AIR MILES Value
Redemption Value per reward mile in cents
Dream rewards used for short-haul and last minute flights 15 - 20
Dream rewards used for car rentals 13 - 15
AIR MILES redeemed as cash rewards 10.5
Dream rewards used for standard flights 10 - 15
Dream rewards redeemed for merchandise 9 - 13
Dream rewards used to book hotels 9 - 11

Redeeming AIR MILES Cash Rewards

If you're looking for simple redemptions and want to always know how much your AIR MILES reward miles are worth, collecting AIR MILES as Cash Rewards will be the best option.

With Cash Rewards, every 95 AIR MILES you redeem is worth $10 towards your purchases instantly in-store with participating partners. You can also redeem them at the same rate for eVouchers online which are good at any time.

The participating partners for the program will vary by region, but some examples include:

  • Staples
  • JeanCoutu
  • Sobeys
  • Shell
  • Uber Eats
  • Cineplex
  • IGA
  • Foodland & Participating Co-ops

AIR MILES Cash Rewards value

Use the AIR MILES to cash calculator to determine how much your cash rewards miles are worth when redeemed towards in-store purchases and eVouchers.

Enter any amount of AIR MILES cash rewards miles see how much they are worth when collected and redeemed as Cash Rewards.
Points
Cash value when used in-store and for eVouchers: $0

Redeeming AIR MILES Dream Rewards

AIR MILES collected as Dream Rewards is the standard way of earning AIR MILES Reward Miles and is the default option when you first signup for an AIR MILES account.

AIR MILES Dream Miles have an average value ranging from 10 to 15 cents each but can be worth more or less depending on the exact redemption. They can be used for travel, merchandise, and donations.

Flights

Redeeming AIR MILES for flights when collecting them as Dream Rewards will typically give your reward miles the best value. This will give you an average of 10 to 15 cents per reward mile meaning that 1,000 AIR MILES be worth roughly $100 to $150 in cash value.

Since AIR MILES redemptions on travel are pretty static, you can get even higher value for last minute bookings in which the cash price may have risen significantly. High value can also be found on short-haul flights within the Canada providences.

If you have an AIR MILES account, you can calculate how many points it will cost you to fly between two points using the AIR MILES Flights Map.

Hotels

AIR MILES collected as Dream Rewards can be redeemed for hotels through the AIR MILES Hotels + Cars portal. When making comparisons of the AIR MILES portal vs booking directly with various hotels, this gives an average value of about 9 to 11 cents per reward mile.

Car rentals

AIR MILES collected as Dream Rewards can also be used for car rentals through the AIR MILES Hotels + Cars portal. When compared with booking cars directly through a car rental agency, this gives an average value of about 13 to 15 cents per reward mile.

avis vancouver hornby st

Other forms of travel

AIR MILES can also be redeemed for vacation packages, cruises, and U.S. park tickets. All of these redemptions are redeemed through AIR MILES partner redtag.ca.

Merchandise

AIR MILES can be redeemed for merchandise ranging across many categories such as electronics, fashion & beauty, sports & fitness, kitchen & dining, and much more.

The value you get out of redeeming AIR MILES for merchandise will heavily vary. When comparing the cost between various items and their average retail price, I found redemptions giving as low as 9 cents per point and as high as 13 cents per point.

Convert Dream Miles to dollars

Use the AIR MILES Dream Miles Calculator to determine your dream miles value when used for flights, car rentals, hotels, and more.

Enter any amount of AIR MILES rewards miles see how much they are worth when collected and redeemed as Dream Rewards.
Points
Dream Miles redemptions Average dollar value
Short-haul and last minute flights $0 - $0
Car rentals $0 - 0
Flights (standard/average) $0 - $0
Merchandise $0 - 0
Booking hotels $0 - 0

AIR MILES to dollars calculator

Calculate the exact cash value of your AIR MILES based on the cost of a redemption in cash versus the cost in rewards miles. This tool is useful when trying to decide if a redemption is worth it or not.

Cost of Redemption In Cash
Enter how much the flight or redemption would cost you if you paid cash.
$
Cost of Redemption In AIR MILES
Enter how much the flight or redemption would cost you in AIR MILES along with any taxes, fees, or additional cash cost you would have to pay.
AIR MILES
Miles
Taxes/Fees
$
Redemption Value
This is how much your AIR MILES are worth based on the values entered above.
- Cents Per Point

FAQs

How much are AIR MILES worth when redeemed for Dream Rewards?

The Point Calculator values Dream Rewards AIR MILES at 12.5 cents on average, but they can be worth up to 20 cents or more based on the flight.

How much are AIR MILES worth when redeemed for Cash Rewards?

AIR MILES are worth around 10.5 cents each when redeemed for cash rewards.

Is AIR MILES Dream Rewards or Cash Rewards better?

AIR MILES Dream Rewards will typically always provide the better value over AIR MILES Cash Rewards.

Tangerine Money-Back Credit Card

Earn 2% back in up to three categories of your choice with no limit to the amount you can earn. Rewards are paid monthly.

For A Limited Time: Get 10% back, up to $100, when you spend up to $1,000 in your first 2 months.