Canada's points programs, explained

Most Canadian rewards cards earn one of about a dozen currencies. The card matters less than the program behind it: the program decides what your points can become, and what they’re worth.

The programs at a glance

Program	Kind	Earned with	Fruga’s starting value	Good for
Aeroplan	Airline (Air Canada)	Aeroplan cards from Amex, TD and CIBC; transfers from Amex Membership Rewards	1.5¢	Flights, especially Star Alliance and premium cabins
American Express Membership Rewards	Flexible	Amex Cobalt, Gold and Platinum cards	1.5¢	Moving points to airline and hotel partners
RBC Avion	Flexible	RBC Avion cards	1¢	Simple travel booking, or transfers to airline partners
Scene+	Bank and retail	Scotiabank cards	1¢	Travel booked any way, plus grocery and entertainment partners
CIBC Aventura	Bank travel	CIBC Aventura cards	1¢	Booking through CIBC’s travel service
TD Rewards	Bank travel	TD Rewards and First Class cards	0.5¢	Booking through Expedia for TD
BMO Rewards	Bank travel	BMO eclipse and Ascend cards	0.67¢	Booking through BMO’s travel service
Marriott Bonvoy	Hotel	Marriott Bonvoy cards; transfers from Amex	0.7¢	Hotel nights, especially off-peak
PC Optimum	Retail	PC Financial cards and in-store	0.1¢	Groceries and drugstore at Loblaw stores
Canadian Tire Money	Retail	Triangle cards	$1 per $1	Canadian Tire family stores

These starting values are the defaults in the Fruga extension. You can change every one of them to match how you actually redeem. They’re estimates, not promises.

Fixed value or flexible?

• Fixed-value points (TD, CIBC Aventura, BMO, Scene+ for travel bookings) are worth a set amount when you book travel through the bank or apply them to a travel purchase. They’re simple and predictable, but there’s no upside.
• Flexible points (Amex Membership Rewards, RBC Avion) can be used at a fixed value or transferred to partner programs. A transfer can be worth much more, for example when an award flight would cost far more in cash, but it takes some research.
• Airline and hotel points (Aeroplan, Marriott Bonvoy) are worth whatever the award chart or dynamic price says on the day you book. Their value swings the most.

How to value a point yourself

Take a redemption you’d really make. Divide the cash price you’d otherwise pay (minus any taxes and fees you still pay) by the points needed:

$600 flight − $120 taxes paid = $480 saved, for 32,000 points → 1.5¢ per point.

If you mostly redeem for statement credits or gift cards, use that lower value instead. Valuing points at what you get stops a flashy earn rate from fooling you.

Choosing your program

1. Where will you go? If you mostly fly Air Canada or its Star Alliance partners, look at Aeroplan. If you mostly fly WestJet, look at WestJet Rewards, or RBC Avion, which can transfer to it. Hotel-heavy travellers might prefer Marriott Bonvoy or a flexible program.
2. How much effort will you put in? If you won’t research transfers, fixed-value points or cash back are honest choices.
3. Where do you spend? A program is only as good as the card that earns it on your biggest spending categories.

Keep points healthy

• Know the expiry and inactivity rules. Some programs cancel points after a period with no earning or redeeming. Others close points with the card. Redeem or transfer before you cancel a card.
• Pool where you can. Some programs let household members combine points, which helps you reach an award sooner.
• Don’t hoard. Programs can and do change award prices. Points earned for a trip are best used for that trip.

How Fruga helps

Fruga turns every program into dollars using your own values. At checkout, a 2× bank-points card and a 1.5% cash back card are compared fairly. Change a value in Settings and every recommendation updates immediately.