Reward Points:
The Complete
UK Guide.
Not all points are equal. Some are worth 0.5p each. Others — used correctly — unlock flights and hotels worth 2p or more per point. Here's everything you need to know.
What are reward points?
Reward points are currencies issued by banks, airlines, and retailers when you spend money with their products. Every pound you spend earns a certain number of points, which can later be redeemed for flights, hotel stays, gift cards, cashback, or shopping discounts.
The key insight most people miss is that points are not all worth the same. A point from American Express Membership Rewards can be worth 0.4p if used badly, or over 2p if converted to Avios and used on the right flight. Understanding how to extract value — not just earn points — is what separates casual collectors from people who genuinely save hundreds of pounds a year.
Points schemes fall into a few categories: transferable currencies (Amex MR — can become many things), airline miles (Avios — best for flights), grocery loyalty schemes (Tesco Clubcard, Nectar — earn passively on shops), and bank point programmes (Revolut — tied to their subscription tiers).
Who benefits most from points?
Points deliver the highest value to people who travel by air. Avios and Amex MR points converted to airline miles can be worth 1.5p–2p+ per point on flights — significantly more than their face value in any other redemption category.
But you don't need to fly to benefit. Tesco Clubcard points tripled at restaurant partners and Nectar points redeemed at Sainsbury's are both excellent value for everyday shoppers who never set foot on a plane.
The most important rule
Always think in pence per point, not total points. 10,000 points worth 0.5p each (£50) is worse than 1,000 points worth 2p each (£20 at face value, £40+ with smart redemption). The number on the screen is meaningless without the conversion rate.
The rankings
Ranked by real-world value per point at optimal redemption. Click any scheme for the full deep-dive.
The most flexible points currency in the UK
Transfer to 14+ airlines and hotels. Avios, Virgin, Hilton, Emirates and more. Never locked in.
Best card: Amex Gold — free in year 1, 20,000 MR welcome bonus
0.4p–2p+
per point
High earn rate — if you can justify the Ultra subscription
Best earn rate requires £55/month Ultra plan. Most people won't break even on points alone.
Best card: Only worth it if already on Ultra/Metal for other reasons
0.71p–1p
per point
The UK's most popular travel currency
Earn directly via BA Amex or Barclays Avios card. The 2-4-1 companion voucher is one of the most valuable perks in UK credit cards.
Best card: BA Amex (free) or BA Premium Plus (£295/year) for the 2-4-1 voucher
1p–2p+
per Avios on flights
Great for Sainsbury's shoppers — and converts to Avios
1:1 Avios transfer. Nectar Amex earns 1% back at Sainsbury's and Argos. App bonus events can stack to 5x–15x.
Best card: Nectar American Express — no fee, 20,000 points welcome bonus
0.5p+
per point (more via Avios)
The partner doubling trick makes this uniquely powerful
£2.50 in Clubcard vouchers = £7.50 at Zizzi or Pizza Express (3x). £5 at Hotels.com (2x). Never spend in Tesco at face value.
Best card: Use Clubcard separately — not the Tesco credit card
1p–3p
per point
Other schemes worth knowing
These schemes are more niche — usually best accessed by transferring Amex MR points rather than earning directly.
Hilton Honors
Hotel loyalty points earned through Hilton stays or Amex MR transfers (1 MR = 2 Hilton points). Worth ~0.3p–0.5p per point. Best for Hilton hotel stays — not for flights or cash redemptions.
Virgin Atlantic Flying Club
Airline miles earned from Virgin flights, Amex MR transfers (1:1), and Virgin Red partners. Worth ~1p–1.8p per point on Virgin flights. Excellent for transatlantic Business Class (Upper Class) redemptions.
M&S Rewards
Earned on the M&S credit card. Worth 1p per point, redeemable at M&S only. Low earn rate (1pt per £5 on general spend). Good beginner card for M&S shoppers; not worth optimising around.
Emirates Skywards
Earned via Emirates flights or Amex MR transfers. Can be outstanding value on Emirates Business and First Class redemptions. Niche but powerful if you fly Emirates regularly.
Yonder Points
A newer UK debit and credit card with a built-in points scheme. Basic tier: 1pt per £1, poor conversion rates. Premium tier (£15/month): 4pt per £1 — better, but the fee needs to justify itself. The redemption values aren't competitive with Amex MR or Avios. Worth considering only if you specifically want a debit card with rewards, as that category is still rare in the UK. Not our first recommendation as a primary rewards card.
Side-by-side comparison
“Value per £1 spent” is the most useful number — it combines the earn rate of a specific card with the redemption value of the points it earns.
| Scheme | Value per point | Earn rate (range) | Value per £1 spent | Free card? |
|---|---|---|---|---|
| Amex MR | 0.4p–2p+ | 1pt per £1 (all cards) | 0.4p–2p+ per £1 | Yes — Amex Rewards |
| Avios | 1p–2p+ | 1–1.5pt per £1 | 1p–3p per £1 | Yes — BA Amex / Barclays |
| Tesco Clubcard | 1p–3p | 1pt per £1 (in Tesco) | 1p–3p per £1 | Yes — use card separately |
| Nectar | 0.5p+ | 1pt per £1 (Sainsbury's) / 1pt per £5 (other) | 0.1p–1p per £1 | Yes — Nectar Amex |
| Revolut (Ultra) | 0.71p–1p | 1pt per £1 (Ultra only) | 0.71p–1p per £1 | No — £55/month plan |
| Revolut (Free) | 0.71p–1p | 1pt per £10 (free plan) | 0.07p–0.1p per £1 | Free plan |
| Yonder (Basic) | Variable — poor | 1pt per £1 (free) | Low — redemptions weak | Free tier (debit/credit) |
| Yonder (Premium) | Variable — poor | 4pt per £1 (£15/month) | Better — but fee applies | No — £15/month plan |
Value per £1 spent depends entirely on the card used to earn the points. The same points scheme can have very different effective returns — for example, Avios via the free BA Amex earns 1pt per £1, while the BA Premium Plus earns 1.5pt per £1 (50% more value per pound spent). Revolut is the starkest contrast: the free plan earns 1pt per £10, making it roughly 10× worse per pound than the free Avios card at the same redemption rate. Always consider the earn rate of your specific card, not just the headline value per point.
A note on debit card rewards
Debit card reward schemes are still rare in the UK — most reward programmes are credit card only. Yonder is one of the few options, offering 1pt per £1 on their free tier or 4pt per £1 on their £15/month premium plan. The redemption values aren't competitive with Amex MR or Avios, but if you specifically need a debit card with rewards and don't want a credit card, it's currently one of the better options in that limited category.
Updated April 2026 — subject to change. Points valuations, earn rates, partner lists, card fees, and redemption options can change at any time. Always verify current rates directly with the relevant scheme. For educational purposes only — not financial advice. Some links may be affiliate links. See our affiliate disclosure.