So let’s say you have some points:

• Amex Membership Rewards Points
• Chase Ultimate Rewards Points
• Citi ThankYou Points
• CapitalOne Rewards Miles (they call it miles, but it’s essentially points)
• Bilt Rewards Points

For the most part, you’ll get more value from your points redeeming them for flights. But, you can redeem for hotels.

High level how to use points for flights or hotels:

1. Search for ONE WAY flights using the “points” option on the airline web site. (Hotel booking is essentially the same steps).
2. Find the flight you want. Try and “hold” that flight via the website or by calling the airline. Some airlines do not let you do this.
3. Transfer points from Amex, Chase, etc. to the airline to cover the amount of miles needed. Most transfers are 1 point → 1 mile. Sometimes there are bonuses, which get you more.
4. Book the flight.
5. Enjoy.

Notes:

• At a bare minimum, you want to get $.02 per point. Find the cash equivalent of the flight you’re planning on using points for. Divide (the cash equivalent minus fees) / # points needed for the flight.
• Here’s some more explanation.