I am seeing $0.0027 per point US. This overstates the value though because you are now using points to offset taxes as well. BTW if you are confused why you don't see a points redemption option you have to select a cash rate and them start the confirmation process you will be offered the option to pay with points and you can do your own value calculations (you may need to be logged in). That said looking at redemptions I was considering next March in Europe when cash rates were low this is actually an improvement! I am likely just going to burn up my points next spring in Europe and be done with this program.