That's not true. If you use variable points to redeem for flights, then yes it's 1 cent per point (cpp), but it includes taxes. However, if you use fixed points flight redemptions you can get up to 2cpp for economy or 3 cpp for business. For ex. 20k points will get you an economy ticket w/in continental US and Canada valued up to $400; for 90k points you can get the same ticket in business valued up to $2700. There's a complete chart for fixed points at www.thankyou.com - click on help. Fixed points redemptions do not include tax - you need to pay the taxes. There are many threads on thank you network and how to maximize your TYPs, in the "other credit cards" forum.