Why one point has two values
Cash value is what you get when you redeem for cash back, a statement credit or gift cards. It is usually fixed and often the lowest.
Transfer value is what you can get by moving points to an airline or hotel partner for a flight or a stay. It is often higher, but it takes effort and depends on availability.
Where the numbers come from
No single number is right, but there are public estimates. Frequent Miler publishes “Reasonable Redemption Values”, the cents per point you can reasonably expect, not the best-case redemption.
Rune uses these for transferable points and shows the source and its date on the card page.
Turn a rate into a return
Return ≈ multiplier × value per point. For example, 3x points at 1.5 cents per point is about 4.5%. 5% cash back is simply 5%.
The same “5x” can be worth different amounts: 5x points valued at 1 cent is 5%, while 5x points valued at 2 cents is 10%.
What it means when you choose a card
Compare cards by estimated return, not by the headline multiplier. A card with a lower multiplier but more valuable points can earn more.
Count transfer value only if you will actually transfer. If you will cash out, use the cash value.
How Rune uses it
Rune's results show the estimated return and how it was worked out, multiplier × value per point. For a bonus that needs activation first, it shows the return now and after you activate it.
Values are estimates and change. To see whether a card's fee is worth paying, see Is a credit card annual fee worth it? How to work it out.
See estimated returns in Rune
Based on public sources as of 2026-11. Point values are estimates and change; check your own redemption options.