AwardLocker AwardLocker Search awards →

Cents Per Point (CPP)

The value of a points redemption, calculated as (cash price minus taxes paid) ÷ points used × 100.

Full definition

Cents per point (CPP) is the industry benchmark for measuring whether an award redemption is worth booking. To calculate: take the cash price of the equivalent ticket, subtract the cash you're paying in taxes/fees on the award, divide by the number of points used, and multiply by 100.

Example: A business class ticket that costs $4,800 cash, you pay $150 in taxes + 75,000 points for an award. CPP = ($4,800 - $150) / 75,000 × 100 = 6.2¢ per point. Anything above 2¢ is generally "good", above 4¢ is "excellent", above 6¢ is outstanding.

Industry benchmarks by program: Chase UR 1.5¢, Amex MR 1.7¢, Capital One 1.4¢, Bilt 1.25¢. Above these is a win.

Also known as: CPP

Related terms

Sweet Spot
A specific award redemption that offers outstanding cents-per-point value (usually 3¢+).Saver Award
The lowest published award level a program offers — typically 1-2 seats per flight.Redemption
The act of using miles or points to book a flight, hotel, or other travel.

Put it to use

AwardLocker shows live award availability across major airlines. Verify any redemption before transferring points.

Search awards →