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Updated: January 18, 2023

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loyalty programs, financial reviews

The Canadian Loyalty Program Bible

Chay_Tee / Shutterstock


Updated: January 18, 2023

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware that some (or all) products and services linked in this article are from our sponsors.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware this post may contain links to products from our partners. We may receive a commission for products or services you sign up for through partner links.

There are a number of loyalty/rewards programs in Canada today, and chances are you’ve already collected some points from one or more of them. But what are these points really worth, and what can you use them for?

How loyalty programs work

Click a link above to jump straight to everything you need to know about your favourite Canadian loyalty program. Aside from breaking down each point’s real value, we’ll tell you what you can redeem the points for, which other rewards programs they can be transferred to, as well as other must-know details.

We’ve pored over the fine print so you don’t have to!


Source: Aeroplan

Single Point Canadian Dollar Value (general average): $0.0109

Aeroplan has recently overhauled its program which includes introducing a new rewards chart. In some cases, you will now need more points to fly or purchase merchandise than you did in the previous version of the program. However, there are still some deals to be found. Typically speaking, Aeroplan points go the furthest when put towards travel. Specifically, for business and first class flights. The number of points required depends on where you are starting from, where you are flying to, miles travelled, and the popularity of the route.

Flights: As the pricing is now dynamic, rather than fixed, for Air Canada flights it’s difficult to attribute a specific value to each mile. There is a pretty large range of miles required depending on the factors listed above. Value of redemption is very sensitive to your home city as well as your final destination.

You are able to calculate the value yourself with a fairly simple equation: retail price- fees/Miles = dollar value.

For example, Toronto- Ottawa is less than 5,000 miles which means, depending on the factors above, it will cost you 6,000 miles on the low end and 10,000 miles on the high end. A one-way flight from Toronto to Ottawa is $206. Minus taxes, it’s $150.

150/6000= 0.025

150/10,000= 0.015

Which means that you can expect the point value to be $0.025 at the best and $0.015 at the lowest.

Remember, the main goal is to get that $0.0109 value or, ideally, better.

Taxes and Fees: You can use your Aeroplan points to cover taxes and fees, however, it’s not necessarily the best value for your miles.

Expiration: Your Aeroplan miles don’t have a set expiry date, however, if you remain inactive for 18 consecutive months then they will expire. To keep your points from expiring you need to use, earn, or donate your miles.

Transferability: Aeroplan points cannot be transferred to other loyalty programs, however, you can transfer points from other loyalty programs to Aeroplan.

  • American Express offers a transfer rate of 1:1
  • Marriott Bonvoy offers a transfer rate of 3:1 plus a 5,000-mile bonus for every 60,000 points transferred
  • Capital One offers transfers at a rate of 2:1.5.

Additionally, you can now transfer Aeroplan miles with the family sharing program for free. Family sharing allows up to 8 people to create a pool with their miles.

Redemption: Your Aeroplan miles can be redeemed easily online at either or via the Air Canada app. Remember, seats on Air Canada flights now follow dynamic pricing while partner airlines still have fixed pricing. It’s also worth noting that there are no more fuel surcharge fees, however, booking with a partner airline will incur a partner booking fee of $39.

As mentioned above, the best value for your Aeroplan miles is to put them towards travel. However, should you decide to use your points outside of the travel sector, they can be redeemed for:

  • Merchandise: Items such as Sony cameras, RayBan sunglasses, and Cuisinart Kitchen gadgets
  • Gift cards from top brands like Apple, Best Buy, Indigo, Amazon, Starbucks, and more.

You can learn more about the Aeroplan program by reading our complete Aeroplan Points Guide.

Air Miles

Source: Air Miles

Single Point Canadian Dollar Value: $0.105 (AirMiles Cash)

The value of Air Miles for the classic Air Miles Dream account varies depending on what you are redeeming the Air Miles for and where they are in the country. For example, a mile used to book a hotel in a small town often goes further than a mile used to book a hotel in a big city. Flights also have different mile values depending on where you are flying and the time of year. The following is a rough average (all values expressed in Canadian cents):

  • Hotels – $0.194
  • Flights – $0.168
  • Car Rentals – $0.157
  • Events – $0.144
  • Attractions – $0.132
  • Merchandise – $0.12

Covers Taxes and Fees: No, but Air Miles do cover fuel surcharges on flights.

Expiration: Technically no, but if no new Air Miles are posted  or are used in your account for 24 consecutive months, your remaining miles may be cancelled without notice.

Transferability: A large number of other reward programs allow you to convert their points to Air Miles, including HBC Rewards, RBC Rewards and in one case, Esso Extra using However, Air Miles cannot be converted to any other rewards program.

Redemption: Since 2011, Air Miles have been split into two redemption paths: Air Miles Cash and Air Miles Dream.

  • With Air Miles Cash, members can instantly redeem their points for purchases in store or online at participating retailers like Sobeys, Shell, Rona, IGA, Safeway and more. The minimum redemption value at any retail partner is 95 Air Miles ($10 off) up to the equivalent of $100 per day (950 Air Miles).
  • Air Miles Dream is the classic method of redeeming Air Miles for flights, hotel stays, car rentals, vacation packages, event tickets, attractions, gift certificates and merchandise by saving up the required amount of miles.
  • Flights are available from a wide variety of national and international airlines including Air Canada, WestJet, American Airlines, Southwest Airlines, Lufthansa and British Airways. Hotel stay providers are Hilton, IHG, Marriott, Starwood and Best Western. However, the availability of flights and hotels and the value of the Air Miles you use to redeem them vary according to where you’re flying or staying, when you’re booking (high seasons: March 1-March 31, June 1-September 15, December 16-January 7 or low seasons: January 8-February 28, April 1-May 31, September 16-December 15), the carrier you choose, and whether you’re booking a connecting or direct flight.
  • Outside of travel, brand partners for merchandise, vacation packages, gift certificates, rental cars, events and attractions include Panasonic, Nikon, Broadway Across Canada, Big White Ski Resort, Cineplex, Enterprise Rent-A-Car, Club Med, Sunquest, Legoland, Vitamix and more. However, the miles have different values depending on the category you’re buying from, with flights and hotels near the top and merchandise, attractions and vacation values near the bottom.

You can learn more about the AIR MILES program by reading our complete AIR MILES guide. Or apply for some of the best rewards cards that earn Air Miles:

Alaska Airlines Mileage Plan Miles

Source: Alaska Airlines

Single Point Canadian Dollar Value: $0.01–$0.02

Covers Taxes and Fees: No

Expiration: None, as long as the account is in active use. If an account is inactive for two years, it may be closed by Alaska Airlines. Deleted miles can be reinstated for a fee for up to one year.

Transferability: There is no mileage transferability to other reward point programs, but you can transfer Mileage Plan miles to other account holders in increments of 1,000 miles up to 30,000 miles per transaction and 100,000 miles per year. The cost is $10.00 USD per 1,000 miles plus a $25 USD processing fee for each transaction, as well as applicable taxes for Canadian residents. Transfers are not reversable or refundable and do not count toward MVP Gold account status. EasyBiz company accounts cannot transfer miles.

Redemption: Mileage Plan miles can be used for discounts on one-way or round-trip flights—10,000 Mileage Plan miles give you a $100 discount and 20,000 Mileage Plan miles give you $200 off—or first class upgrades for 15,000 Mileage Rewards.

Mileage Plan miles can not only be redeemed for flights on Alaska Airlines, but you can also redeem for free stopovers on select award flight tickets and flights on the following partner airlines:

  • Aer Lingus
  • American Airlines
  • British Airways
  • Cathay Pacific
  • Condor
  • Emirates
  • Fiji Airways
  • Finnair
  • Hainan Airlines
  • Icelandair
  • Japan Airlines
  • Korean Air
  • LATAM Airlines
  • PenAir
  • Qantas
  • Singapore Airlines
  • Ravn Alaska

Each airline partner has its own Award Chart showing how much a flight on that airline costs depending on the class of ticket and where you’re travelling. Mileage Plan miles can also be redeemed for hotel stays, booked with Rocketmiles for hotels around the world designated Mileage Plan Hotels. Some of these hotel partners can then generate more Alaska Airlines miles in a ‘double dip’ scenario:

  • Best Western
  • Choice Hotels
  • Coast Hotels
  • Fairmont Hotels and Resorts (Partnership ends June 30, 2018)
  • Intercontinental Hotels Group
  • Marriott Rewards
  • La Quinta Hotels
  • Starwood Preferred Guest
  • Westmark Hotels

Magazine subscriptions can also be redeemed from Cosmopolitan, Food & Wine, Sports Illustrated, InStyle, Fortune, New York Magazine and more.  Gifting miles to coworkers, friends, family and charities like the Make-A-Wish Foundation and The Nature Conservancy is also possible.

American Express Membership Rewards

Source: American Express

Single Point Canadian Dollar Value: $0.01 when used as a statement credit; up to $0.02 with the Fixed Points Travel Program; approx. $0.008 when used for gift cards

Covers Taxes and Fees: Points cannot be used to cover taxes and fees when redeemed with the Fixed Points Travel Program; points can be used to cover taxes and fees when redeemed against a card statement.

Expiration: No expiration for active members, but if you voluntarily withdraw from the rewards program and cancel your Amex credit card, your Membership Rewards Points are immediately forfeited. *Note that despite 2018 Ontario Government rules preventing reward points from expiring in most cases, points can still expire in the province due to inactivity as defined by each rewards program’s terms and conditions.

Transferability: Membership Rewards can be transferred to Aeroplan, Alitalia MilleMiglia, Avios, Air France KLM Flying Blue, Cathay Pacific Asia Miles, Delta SkyMiles, Etihad Guest, Hilton Honors, and Marriott Bonvoy. Transfer ratios are as follows:

  • Aeroplan = 1:1
  • Air France KLM Flying Blue = 1:0.75
  • Alitalia MilleMiglia = 1:0.75
  • Avios = 1:1
  • Cathay Pacific Asia Miles = 1:0.75
  • Delta SkyMiles = 1:0.75
  • Etihad Guest = 1:0.75
  • Hilton Honors = 1:1
  • Marriott Bonvoy = 1:1.2

Redemption: Points can be redeemed for the following:

  • Credit to your card statement balance at a rate of 100 points per $1 ($0.01 per point)
  • Flights with the Fixed Points Travel Program (up to a value of $0.02 per point), or flights, hotels, and car rentals with the Flexible Points Travel Program (value of $0.01 per point)
  • Merchandise from brands like Dyson, Ninja, Samsonite, iRobot, and Ray-Ban
  • Gift cards to a variety of brands like Air Canada, Hudsons Bay, Saks Fifth Avenue, Esso and Mobil, etc.
  • purchases via Shop with Points (points worth $0.007 each)
  • Donations to charities like Save the Children

You can learn more about Amex MR points by reading our complete guide to the American Express Membership Rewards® Program. Or apply for these Amex cards that earn Membership Rewards:

American Express Cobalt® Card (read our review of the card here)The Platinum Card® (read our review of the card here)


Source: Avios

Single Mile Canadian Dollar Value: $0.015 – $0.0175 base value using “Pay with Avios” option. Actual value varies depending on method of redemption, class of ticket, distance and time of flight.

Covers Taxes and Fees: No

Expiration: No, unless the member has not collected, redeemed, bought, or transferred Avios Points for 36 consecutive months; the member has died; the member has committed fraud or misconduct; or the member has elected to cancel their membership and has returned their membership card cut in half.

Transferability: None

Redemption: Redeem for flights with main airline partner British Airways, along with American Airlines, Iberia and other oneworld or oneworld connect airline alliance partners. Avios can be used to book flights directly; upgrade cash bookings; complete payment of partial cash bookings; pay baggage fees; pay for food on flights; or pay for hotel stays, car rentals and experiences like hot air balloon rides.

Apply for these credit cards that earn Avios:RBC British Airways Visa Infinite (read our review of the card here)

Best Western Rewards

Source: Best Western

The necessary amount of Best Western Rewards points needed to redeem for a free hotel night ranges from 8,000 to 36,000 points, increasing by 4,000-point increments. Increment values for particular hotels depend on factors such as location, hotel star rating and booking season, among other factors. Below are our estimated single point Canadian dollar values for each of the typical point increments:

  • 8,000 = $0.006
  • 12,000 = $0.0078
  • 16,000 = $0.0081
  • 20,000 = $0.0075
  • 24,000 = $0.0087
  • 28,000 = $0.0094
  • 32,000 = $0.0077
  • 36,000 = $0.0073

Points can also be redeemed for the following:

  • Shopping gift certificates at a value of approximately $0.005 per point ($25 gift card worth 5,000 points)
  • Merchandise at a value of approximately $0.0029 per point (e.g. Angelcare baby monitor worth $62.39 is redeemable for 21,300 points)
  • Travel miles of various travel programs (see ‘Transferability’ below) at a value of approximately $0.02 per mile.

Covers Taxes and Fees: Partially. Points cover hotel room taxes, but not incidental charges, resort fees  or other fees the hotel may charge, such as parking fees.

Expiration: None 

Transferability: Best Western Rewards points can be transferred to a number of partner frequent-flyer programs, including:

  • Air Canada (5:1)
  • Alaska Airlines (5:1)
  • American Airlines and Asiana (5:1)
  • Aeromexico (25:8)
  • Southwest Airlines (25:6).

The minimum transfer total for all airlines is 5,000 Best Western Rewards Points.


  • Earn free nights at Best Western brand hotels including SureStay, SureStay Plus, Glo, Vib and Premiere.
  • Redeem for gift certificates from Amazon, iTunes, Bass Pro Shops and Starbucks, to name a few.
  • Merchandise ranging from Samsonite luggage to a Sony Blu-Ray player is also available.
  • Vacation packages, gas cards and car rentals can also be redeemed. Earn flights by calling Best Western and requesting that your points go toward a partner frequent-flyer program. You can redeem for Aeroplan, AAdvantage, Asia Miles and more, but if you switch over, your points can no longer go toward hotel stays or anything else available through the Best Western Rewards Program.

BMO Rewards

Source: BMO

Single Point Canadian Dollar Value: Approx. $0.0067 (maximum)

Covers Taxes and Fees: Yes

Expiration: Points don’t expire during active membership, but you have 90 days to use your points after your account closes.

Transferability: None


  • 150 points needed to redeem for $1 in travel rewards or $1 deposit into a BMO investment account; 200 points for $1 applied as a credit against a card statement
  • Redeem on airfare from a variety of airlines including WestJet, Air Canada, United and Delta. There are no blackout dates or limitations on particular seats, hotels or airlines. Bookings can be made up to two days before departure.
  • Book car rentals, hotels and vacation packages
  • Merchandise is available from iRobot, Cuisinart, Pentax, Le Creuset and Dell, along with signed sports memorabilia and experiences like indoor rock climbing or skydiving.

You can learn more about BMO Rewards points by reading our complete BMO Rewards guide. Or apply for these credit cards that earn BMO travel rewards:BMO Ascend™ World Elite®* Mastercard®* (read our review of the card here)BMO Rewards® Mastercard®*

Capital One Reward Miles

Source: Capital One

Single Point Canadian Dollar Value: $0.01

Covers Taxes and Fees: Yes

Transferability: No

Expiration: Miles don’t expire while the account is open. But if your account is closed, you will lose the miles you have yet to redeem.

Redemption: If you are an Aspire Travel Platinum cardholder, (the only way to accumulate Capital One reward miles that is offered in Canada) you can choose two redemption paths:

  • Travel rewards, including flights, hotels and car rentals
  • Cash back in the form of statement credit, cash or a gift card

If you’re redeeming for travel, you can redeem for a portion or all of the cost of your trip with no blackout dates and no restrictions or hidden fees. You can also use your miles to deduct the cost of a travel purchase you already made in the form of an account credit. There are also no minimum redemption requirements and you can literally redeem to the cent.

If you’re redeeming for cash back, you can request it in the form of a gift card, statement credit or cash. You can choose from over 20 merchants that supply gift cards to Capital One, including Home Depot, Amazon and Costco. If you redeem your cash back for statement credit, the credit will be posted within five to seven business days and if you choose cash, you will receive a cheque within 30 days.

CIBC Aventura

Source: CIBC

Single Point Canadian Dollar Value: $0.0116 (Average)

CIBC Aventura points don’t have a consistent dollar value. The total average above is determined from the average Aventura point single-dollar value of five flight regions Aventura uses to determine the cost of a flight:

  • Short-haul Canada/U.S.
  • Long-haul Canada/U.S.
  • Mexico/Hawaii/Caribbean/Central America
  • Europe
  • The rest of the world

Covers Taxes and Fees: Yes

Expiration: Points don’t expire during active membership, but they will expire 60 days after you close your account or 12 months after the primary cardholder’s death.

Transferability: Members who opened their account before Oct. 1, 2013 can redeem Aventura Points for Aeroplan Miles at a ratio of 1:1 in increments of 10,000 points.


  • Redeem for flights on hundreds of airlines (subject to availability) including Air Canada, Delta, Lufthansa and British Airways. There are no blackout dates or restrictions and you can pay with any combination of points or your credit card with the “Flexible Travel” option. “Flexible Travel” also applies to hotels, car rentals, vacation packages or cruises.
  • Merchandise like a Dremel 3D printer, Bose headphones, a Dyson cordless vacuum or a camera from Olympus.
  • Gift certificates from Best Buy, Costco, Wal-Mart, Tim Horton’s and Petro Canada, among many others, are also available.
  • Pay your CIBC bills (e.g. credit card balance, loan or line of credit) with points or invest points as part of a TFSA, RRSP or Investor’s Edge Portfolio. You can also use points to pay your mortgage or line of credit
  • Use points to bid on items like tickets to the Daytona 500, Mont Tremblant Ski Resort, amd St. Patrick’s Day celebrations in Chicago.

Apply for these credit cards in the CIBC Aventura® loyalty program:CIBC Aventura® Visa Infinite* Card (read our card review here)CIBC Aventura® Gold Visa* Card (read our review of the card here)


Source: Desjardins

Single Point Canadian Dollar Value: $1.00 

Covers Taxes and Fees: Yes and No. BONUSDOLLARS cover the taxes and fees associated with travel and merchandise, but cannot be used to cover the annual fee for your credit card or any other credit card fees. 

Transferability: BONUSDOLLARS are only transferrable within Desjardins. E.g. if a cardholder changes from a Desjardins credit card that includes the BONUSDOLLARS rewards program to a card with cash back, the entire BONUSDOLLARS balance can be transferred as cash back in a one-to-one ratio.

Expiration: BONUSDOLLARS don’t expire unless the account is closed or the program is terminated. In that case, the former account holder has 90 days to redeem any BONUSDOLLARS earned before they are forfeited.

Redemption: You can cover any travel tickets, including flights, car rentals, trains or public transportation passes and accommodation with BONUSDOLLARS no matter the season, destination, distance or travel plan.

BONUSDOLLARS can also be used to purchase merchandise from a catalogue of nearly 475 items, either in their entirety or in combination with a Desjardins credit card payment. The merchandise available includes items from Burberry, Cuisinart, Dyson, Apple, Bose and more. You can also use BONUSDOLLARS to purchase gift cards from Tanguay, Bed Bath and Beyond, Best Buy, Indigo, Golf Town and more.

Plus, BONUSDOLLARS can be used to cover tickets for concerts, theatre, tourist attractions, museums, amusement parks, zoos, circuses, carnivals and movie theatres within 60 days of buying them. Finally, BONUSDOLLARS can be redeemed to acquire Desjardins financial products and services. Redemption for any reward starts at a minimum of 20 BONUSDOLLARS ($20).

GM Earnings

Source: GM

Single Point Canadian Dollar Value: $1.00

Covers Taxes and Fees: Partially. GM Earnings covers all taxes, but doesn’t cover costs associated with licensing, registration, insurance, dealer fees, accessories, additional options, extended warranties, maintenance, service plans and other services such as OnStar and SiriusXM.

Expiration: No, but if your account is cancelled or the primary cardholder dies, you have 90 days to use your Earnings before they are forfeited.

Transferability: Yes. BuyPower members in the U.S. can transfer their balance one time to GM Earnings in Canada. The amount will be based on the currency exchange rate at the time of transfer and not the previous existing balance. Earnings can also be transferred to a supplementary cardholder or immediate family member of the primary cardholder.

Redemption: You can redeem your earnings balance toward the purchase price or lease down payment of an eligible new GMC, Buick, Cadillac or Chevrolet.

Harley-Davidson Genuine Rewards

Source: Harley-Davidson

Single Point Canadian Dollar Value: $0.01

Covers Taxes and Fees: Yes

Expiration: None, but points are forfeited upon account closure.

Transferability: None 


  • Harley-Davidson Genuine Rewards can be redeemed in 2,500-point increments for $25 gift cards of Harley-Davidson Chrome Cash, which can be redeemed for Harley-Davidson MotorClothes apparel, Genuine Motor accessories and service at any Harley-Davidson retailer in Canada.

HSBC Rewards

Source: HSBC Bank

Single Point Canadian Dollar Value: Up to $0.005 (maximum)

Covers Taxes and Fees: Yes

Expiration: Points don’t expire until an account is cancelled

Transferability: Points may be transferred to another HSBC Rewards Program account, or to the below frequent flyer programs.

  • Asia Miles (25,000 HSBC Points = 8,000 Miles)
  • Singapore Airlines KrisFlyer (25,000 HSBC Points = 9,000 Miles)
  • British Airways (25,000 HSBC Points = 10,000 Miles)

Redemption: Point redemption values vary depending on which HSBC credit card the Points were earned with and how they are redeemed. The below values apply to Points earned with the HSBC World Elite Mastercard.

  • $0.005 per Point redeemed against an independently booked travel charge within 60 days of purchase, including flights, vacation packages, car rentals, hotels, cruises, rail tickets, and tours
  • $0.004 per Point redeemed against an HSBC mortgage account balance
  • $0.003 per Point redeemed against an HSBC credit card statement or added into an HSBC savings account
  • Approximately $0.003 per Point redeemed for a gift card
  • Redemption values vary for Points redeemed against merchandise, events, special experiences, and charitable donations.

Apply for these cards that earn HSBC Rewards Points:

HSBC World Elite® Mastercard® (read our card review here)HSBC +Rewards™ Mastercard® (read our card review here)

MBNA Rewards

Source: MBNA

Single Point Canadian Dollar Value: $0.01 when redeeming for travel; $0.005 when redeeming for cash back

Covers Taxes and Fees: Yes.

Expiration: None!

Transferability: None 


  • MBNA Rewards points can be redeemed for travel booked through their own Travel Portal at a value of $0.01 per point.
  • Cash back redemption on the MBNA Rewards Platinum Plus® Mastercard® is 200 points per dollar. Cash back redemption on the MBNA Rewards World Elite® Mastercard® is 120 points per dollar.
  • Points are also redeemable for brand-name merchandise in a variety of categories including toys, electronics, tools, housewares and appliances.
  • Points can also be redeemed for gift cards and e-gift cards.
  • Through the MBNA Rewards Catalogue you can redeem your points for travel, gift cards and brand-name merchandise. To start browsing, visit the MBNA Rewards Catalogue now.

Apply for these cards that earn MBNA Rewards Points:

MBNA Rewards World Elite® Mastercard® (read our card review here)MBNA Rewards Platinum Plus® Mastercard® (read our card review here)

MBNA Rewards World Elite® Mastercard® offer is not available for residents of Quebec. For residents of Quebec, please click here.

MBNA Rewards Platinum Plus® Mastercard® offer is not available for residents of Quebec. For residents of Quebec, please click here.

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

Meridian Cash Back and Travel Rewards

Source: Meridian

Single Point Canadian Dollar Value: $0.01 for travel and cash back ; less for merchandise and gift cards

Covers Taxes and Fees: No

Expiration: Points don’t expire, but when an account is cancelled points are terminated right away with no redemption window prior to expiry.

Transferability: Points can only be transferred between credit card accounts participating in the program. Points cannot be transferred to other loyalty programs outside of Meridian.


  • Redeem for statement credit toward your credit card balance.
  • Redeem for travel on the Meridian travel portal
  • Points cannot be used to pay for airline taxes or surcharges. Furthermore, Meridian does not use a full-service travel agency, however, members that need assistance can contact a customer service representative.
  • Redeem points for merchandise in a variety of product categories including appliances, beauty, fitness & sports, jewellery & fashion, bed, bath and home, electronics, tools, Hudson’s Bay Company, outdoor living and more. The brands available include Kitchen Aid, Marc Jacobs, Dyson, Benelli, Hathaway, Garmin, GoPro, Lego, Funko and more.
  • Redeem points for special event tickets for sports like Blue Jays baseball, NHL hockey, Raptors basketball, Golf, theatre performances, Cirque Du Soleil, live concerts and comedy performances.
  • Redeem points for gift cards from restaurants like Earl’s, Casey’s, East Side Mario’s, Jack Astor’s, The Keg and Red Lobster and retailers like Banana Republic, Chapters-Indigo, Cineplex, Foot Locker, Home Hardware, The Gap and more.
  • Visa Infinite customers may receive additional benefits including concierge service, hotel stays, winery tours in Ontario and British Columbia and special dining experiences in major cities
  • Redeeming points toward merchandise or gift cards does not yield as much value compared to redeeming for travel

National Bank À la Carte Rewards

Source: National Bank of Canada

Single Point Canadian Dollar Value: $0.01

Covers Taxes and Fees: No

Expiration: Points don’t expire while the account is active. If you cancel your account or it remains idle for 6 months, you have 30 days to exchange your points before they expire.

Transferability: Not transferable to other rewards programs, but points can be combined if you hold two credit cards in the À la Carte Rewards program. They can also be transferred to a spouse, common law partner or named successor within 12 months of the primary card holder’s death. Business cardholders can transfer their rewards to their personal card if both cards include the À la Carte Rewards Program.


  • Redeem for statement credit toward your credit card balance
  • Redeem toward investment vehicle contributions or banking packages at National Bank
  • Redeem for discounts on flights purchased through the À la Carte Travel Agency in $100 increments. Business, Platinum Business, World, World Elite and Platinum cardholders can book directly through the airline and travel agency of their choice and receive a credit within 60 days of booking on your credit card.
  • Redeem for merchandise from brands like Garmin, Oakley, Coleman, Apple, Cuisinart, Bose, Google and more.
  • Redeem for gift cards from Costco, Winners, Old Navy, Saks Fifth Avenue, The Home Depot and more.
  • Make donations to the Breast Cancer Foundation, the Canadian Red Cross and Diabetes Quebec.

PC Optimum

Source: PC Optimum

Single Point Canadian Dollar Value: $0.001 

Covers Taxes: Yes 

Expiration: Points don’t expire during active membership, but if your account is inactive for two years, your account will be canceled and your points will expire. PC Points and Shoppers Optimum Points expire February 1, 2018 to be converted to PC Optimum points.

Transferability: None. However, you can link your PC points and Shoppers Optimum points after February 1, 2018, by visiting and signing up for a PC Optimum account where they will automatically be converted to PC Optimum points.

Redemption: There are a few things you should know about redeeming PC points with the advent of the PC Optimum system

  • The minimum redemption rate for the new PC Optimum system is 10,000 points, versus 20,000 with the old PC Plus.
  • PC Optimum now takes 10,000 PC Optimum points to reach a $10 credit, versus 8,000 with the old Optimum Program.
  • Redeem your PC Optimum points for free groceries or dollars off on your grocery bill.
  • At Shoppers Drug Mart, members will receive 15 points for every dollar spent compared to 10 points for every dollar under the old Optimum program.
  • Maximize your PC Optimum points by shopping at special earning events, getting the family in on using the card, or getting gas at Esso™ and Mobil™ stations.

You can learn more about PC Optimum™ Points by reading our complete PC Optimum™ program guide.

Or apply for these credit cards in the PC Optimum™ program:

PC Financial World Elite Mastercard (read our review of the card here)PC Financial Mastercard (read our review of the card here).

RBC Rewards (Avion)

Source: RBC

Single Point Canadian Dollar Value: $0.021 on average, when redeeming points earned by Avion cards for travel via the the Air Travel Redemption Schedule. $0.01 per point earned by non-Avion cards, when redeeming for travel.

For Avion cardholders, the number of points needed to redeem for a flight depends on the flight’s destination, and each destination has a maximum ticket price (not including fees and taxes):

Points Needed
Max Ticket Price
Max Value Per Point
Within or to an adjacent province, territory, or U.S. state
From/to anywhere in Canada or U.S. except Hawaii and Alaska
Western Canada or U.S. to Mexico, Hawaii, Alaska /Eastern Canada to Bermuda, Central America, Caribbean
Eastern Canada or U.S. to Mexico, Hawaii, Alaska /Western Canada to Bermuda, Central America, Caribbean
Canada or U.S. to Europe
Canada or U.S. to Asia, Australia, New Zealand, South Pacific, Middle East, Africa, South America

Covers Taxes and Fees: Yes, RBC Rewards points can be used to cover taxes and fees at a rate of 100 points per $1.

Expiration: Points don’t expire during active membership, but after closing an account you’ll have a 90-day period for self-serve, online redemption of your points and a 365-day period to redeem points by calling in to the RBC advice centre.

Transferability: All RBC Rewards points can convert into Hudson’s Bay Rewards (1,000 Hudson’s Bay Rewards points for every 500 RBC Rewards points—the minimum required for conversion) and WestJet Dollars (100 RBC Rewards points to one WestJet dollar, minimum 1,000 RBC Rewards points needed for conversion).

RBC Avion cardholders’ points can also convert to the following programs:

  • American Airlines AAdvantage Miles (10 RBC Rewards points = 7 AAdvantage Miles, minimum conversion of 5,000 RBC Rewards points)
  • Cathay Pacific Asia Miles (1:1 conversion, minimum conversion of 10,000 RBC Rewards points).
  • British Airways Avios points (1:1 conversion, minimum conversion of 10,000 RBC Rewards Points)

Once RBC Rewards are converted into another rewards program, they cannot be converted back.


  • RBC Rewards points can be redeemed for any airline in the world on any flight at any time with no blackout periods or book restrictions, even in peak periods like holiday travel.
  • Pay down your credit card balance ($0.0058 per point)
  • Purchase merchandise from brands like Apple ($0.006–$0.0085 per point)
  • Donate to charity and receive a tax receipt for your donation ($0.01 per point)
  • Purchase a gift card for, Best Buy, Air Canada and more ($0.0071–$0.01 per point)
  • Apply points toward an RBC Financial Reward for your RBC investments, loan, mortgage, LOC, etc. at a rate of 120 points per $1.00 ($0.0083 per point). A minimum of 12,000 points ($100.00) must be redeemed.

Exclusive Features

RBC Rewards points offer users additional benefits and limited time promotions, including:

  • Save $0.03/liter on gas when you connect your RBC Rewards points credit card with your Petro-Points account and earn 20% more Petro-Points.
  • Send Interac e-transfers with points
  • Limited time promotions such as earning 2x points when booking a homeshare, buy one get one movie nights, and discounts when redeeming points for merchandise, such as 30% off Herschel products.

You can learn more about RBC Rewards points by reading our complete RBC Rewards Guide. Or apply for these credit cards that earn RBC Rewards points:

RBC Rewards+ VisaRBC Signature Rewards Visa (read our review here)RBC Avion Visa Infinite (read our review here)


Source: Scene+

Single Point Canadian Dollar Value: $0.01 when redeemed for travel. When redeeming for a statement credit the redemption rate for Scene+ is 3,000 points for $20 at the low end and 71,500 points for $500 at the high end, meaning a variable effective value of between $0.0067 and $0.007 per point.

Covers Taxes and Fees: Yes.

Expiration: Accounts may be closed if you don’t have any Scene+ activity for more than 24 months

Transferability: No transfer partners


  • Travel: Redeem points for flights, hotels, and car rentals via Scene+ Travel. Or apply as a payment method on independently booked trips not organized through Scene+. Minimum 5,000 points for independently booked travel redemption (no minimum for Scene+ Travel redemptions). Points are worth $0.01 each when redeemed via either travel redemption path.
  • Statement Credit: Redeem as a statement credit against non-travel purchases for a value between $0.0067 and $0.007 per point, depending on how many points are redeemed.
  • Merchandise from brands such as Apple, Best Buy, KitchenAid, Dyson, etc. Redemption values range from approx. $0.0067 per point to $0.0087 per point, depending on the item.
  • Gift cards from vendors such as Costco, Walmart, Amazon, Uber Eats, The Home Depot, etc. Redemption values range from $0.0071–$0.0078 per point.
  • Cineplex movie theatres: 1,250 points for a General Admission or 3D ticket; 2,000 points for an UltraAVX, IMAX, Prime seats, D-Box, or VIP ticket; 500 points for $5 off food and beverages; 100 points for $1 off movie rentals and purchases at the Cineplex Store
  • Restaurants: 500 points for $5 off at restaurants like Swiss Chalet, Harvey’s, or East Side Mario’s

You can learn more about Scene+ points by reading our complete Scene+ Points guide. Or apply for these Scotiabank cards that earn Scene+ points:

Scotiabank Gold American Express® card (read our review of the card here)Scotiabank American Express® Card (read our review of the card here)Scotiabank Passport® Visa Infinite* Card ( (read our review of the card here)SCENE® Visa* card (or read our review of the card here)

TD Rewards

Source: TD

Single Point Canadian Dollar Value: When redeeming for cash credit on your statement, the first 10,000 point minimum is worth $0.005 per point and then each additional 400 points is worth $1.00; When booking your own travel, 250 points is worth $1 up to the first 300,000 points ($1,200). Over that, 200 points equal $1.00; When you book travel with Expedia, each point is worth $0.005.

Covers Taxes and Fees: Yes.

Expiration: Points do not expire, but if you close your TD account you have 90 days to redeem your points for travel expenses already charged to your account.

Transferability: None whatsoever.


  • Redeem for travel through Expedia® for TD. You redeem 200 points for every dollar spent on Expedia.
  • Make purchases in part or in full via Shop with Points. 10K points are worth $33; 1 point is worth $0.0033
  • You can also “Book Any Way” (travel booked through providers other than Expedia) with 250 points redeemed for every dollar spent up to the first $1,200 and then 200 points for every dollar spent after that. If you are booking with a travel provider other than Expedia online or by phone, you have 90 days to call TD and receive a full credit towards your travel expenses. Any travel service provider or airline is eligible.
  • Redeem for merchandise from online retailers like Apple, Ray-Ban, Dyson, Samsonite, and more. Gift cards from brands like Canadian Tire, Costco, Best Buy, and iTunes are also available.
  • TD Rewards can be used to pay down your credit card balance, but you must redeem a minimum of 10,000 points to complete the request. Then, every 400 points you redeem on top of that equals an additional $1 of cash credit on that same payment request. However, you cannot use TD Rewards as a replacement of your monthly minimum payment. You can only use TD Rewards for statement credit on top of a minimum already paid in cash.
  • Redeem points toward a tuition or student loan payment in $250 increments (worth 62,500 points) through

Apply for these cards that earn TD Points:TD First Class Travel® Visa Infinite* Card (read our card review here). This offer is not available for residents of Quebec. For Quebec residents, please click here.TD Rewards Visa* Card (read our card review here). This offer is not available for residents of Quebec. For Quebec residents, please click here.

Triangle Rewards Program

Source: Canadian Tire

Single Point Canadian Dollar Value: Triangle Rewards cards earn Canadian Tire Money to their My Canadian Tire account by making purchases at Canadian Tire and other participating sporting goods stores. The same goes for gas stations like Gas+. Some members can still choose to earn paper CT Money following the traditional coupon model, which is also treated as cash in-store and comes in the following denominations:

  • $0.05
  • $0.10
  • $0.25
  • $0.50
  • $1.00
  • $2.00

Covers Taxes and Fees: Yes

Expiration: Neither physical nor electronic Canadian Tire Money expires for active My Canadian Tire Money account holders. Electronic Canadian Tire Money can be revoked and/or terminated if the account holder violates the terms and conditions of its use or voluntarily cancels their account. 

Transferability: Canadian Tire Money cannot be transferred into another loyalty program or exchanged for its cash equivalent. If an item is returned, the customer receives a refund minus the Canadian Tire Money they received in purchase of that item. Canadian Tire Money can be donated to participating local charities or community groups as a valid cash equivalent.

Redemption: Canadian Tire Money can be redeemed physically or electronically (electronic redemption is carried out by loading a My Canadian Tire Money loyalty card) for the cash value or money off the cash value of most Canadian Tire merchandise with some exceptions. These exceptions include: gift cards, lottery tickets, hunting and fishing licences, tire disposal fees, tire taxes, Rug Doctor (carpet cleaning) rental charges, refundable deposits, environmental fees, repair charges, delivery or assembly charges, other store services (other than automobile service).

You can learn more about the Triangle Rewards program by reading our complete guide to Canadian Tire Triangle Rewards.

WestJet Dollars

Source: WestJet

Single Point Canadian Dollar Value: $1.00

Covers Taxes and Fees: No

Expiration: WestJet Dollars earned from purchase transactions with WestJet or its partners, including a WestJet credit card, do not expire. However, bonus WestJet Dollars earned through promotions, limited-time offers or compensation, do expire.

Transferability: WestJet Dollars can be transferred to another account holder for a fee between $50-$59 per transfer, which must be paid with a credit card at the time of the transfer. WestJet Dollars can be redeemed for any flight marketed by WestJet, including code-share flights (where WestJet shares the same flight) with Delta, Aeromexico or Qantas and Member Exclusive Fares on partner-marketed airlines.

Redemption: WestJet Dollars can be used like cash to pay all or part of the base fare on an eligible flight or vacation package available through or their contact centre. Minimum redemption amounts apply as follows:

  • Premium, Economy or Business Fare flights have a redemption minimum of 15 WestJet Dollars per guest and per direction of travel.
  • Member Exclusive Fares must be paid in their entirety for all guests with WestJet Dollars.
  • WestJet Vacation Packages have a redemption minimum of 50 WestJet Dollars per booking.

Did we miss something?

Whew, that’s a lot of info! We might need to catch our breath for a moment. But we’re always game to do additional research and include more content on our site if it helps our readers.

Do you use a rewards/loyalty program that’s not on this list? Let us know that you’d like to see it covered here!

This post was not sponsored. The views and opinions expressed in this review are purely my own.

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About our authors: faces of finance

Aaron Broverman
Aaron Broverman, Author
Hannah Logan
Hannah Logan, Freelance Contributor

Aaron Broverman is a freelance writer based in Toronto. When he’s not writing about money for publications like Yahoo Canada and, you’re likely to find his nose in a comic book. He likes comics so much, he hosts a podcast called Speech Bubble where he interviews those involved in the comic industry. You can follow him on Twitter: @broverman.

Hannah Logan is a freelance writer, blogger, and content creator from Ottawa. She spends half the year in Canada and half the year travelling around the world. A self-described wannabe Indiana Jones, Hannah first developed an interest in personal finance in an effort to prolong her travel lifestyle. Today, she shares her stories from her travels as well as finance tips, tricks, and knowledge to help others fulfil their savings and travel goals as well. You can keep up with Hannah’s adventures on her personal travel blog, or find her on Instagram @hannahlogan21.


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