Points valuation · Updated 2026-06-17
What are frequent flyer points worth in Australia?
A point is only worth what you redeem it for. We value each program from the bottom up: take the points an award seat costs, divide by the cash fare we'd otherwise pay, and express it as cents of value per point. The figures below average our modelled costs across 14 reference routes per program, split by cabin — because business-class redemptions almost always return more per point than economy.
| Program | Overall | Economy | Business |
|---|---|---|---|
| Virgin Australia Velocity Frequent Flyer | 2.5c | 2.0c | 3.0c |
| Cathay Asia Miles | 2.3c | 1.8c | 2.8c |
| Air Canada Aeroplan | 2.3c | 1.7c | 2.9c |
| Qantas Frequent Flyer | 2.1c | 1.6c | 2.5c |
Cents of modelled fare value per point. A higher number means each point stretches further.
The best redemption we model per program
- Virgin Australia Velocity Frequent Flyer: Hong Kong in business — 119,200 points against a $4,050 fare (~3.4c per point).
- Cathay Asia Miles: Hong Kong in business — 120,000 points against a $4,050 fare (~3.4c per point).
- Air Canada Aeroplan: Los Angeles in business — 180,000 points against a $6,300 fare (~3.5c per point).
- Qantas Frequent Flyer: Los Angeles in business — 220,000 points against a $6,300 fare (~2.9c per point).
How we calculate this
These valuations are derived from the same source-checked award costs and reference fares that power our card modelling — not a survey or a marketing figure. Award points come from each program's published award guidance; reference fares are indicative return economy fares scaled for business. Taxes and carrier charges on award bookings are excluded, so real-world value is typically a little lower. Full methodology.
A point’s value is not taxable income
For most Australians, points earned on personal card spending are not assessable income — so the cents-per-point above is value you keep, not income you declare. Are frequent flyer points taxable?
Modelled estimates for general information only — not financial advice and not an approval or availability prediction. Verify current award charts and fares independently.