For us the value is for crazy splurge travel- travel we would never pay cash for but that we can afford by saving up UR points over time.

In October 2016 my husband and I flew SingaporeAir Suites Roundtrip from LAX to NRT for 297500 points. At the time if we had paid cash it would have cost $36000 Roundtrip. It was the flight of a lifetime and we will never forget it.

Now we are saving to do it again and unfortunately Suites are gone on that route and redemption levels are up— this time we will need 380000 points for RT FC. Prices have also come down and the flight would “only” cost us $23000 for two (lol) so about 6 cents per point value. We accumulate our points from sign up bonuses and putting all bonus spend on our Chase cards. We are lucky to also have business spend.