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American Airlines miles are worth about 1.5 cents each when redeemed for economy award flights.
American Airlines has one of the highest domestic airline valuations, tied with JetBlue, Southwest and Delta.
Booking award flights far in advance yielded the best value in our analysis.
In the past few years, American Airlines has made a dizzying array of changes to its AAdvantage program. With new rules on how to earn and burn miles, it can be hard to know how much miles are worth now.
The short answer is this: American AAdvantage miles have a value of 1.5 cents each. This is a baseline value, drawn from real-world data on hundreds of main cabin routes, not a maximized value. In other words, you should aim for award redemptions that offer 1.5 cents or more in value from your American miles.
» Learn more: The best airline credit cards right now
What does this value mean?
NerdWallet compared real-world prices to determine that each American mile is worth about 1.5 cents. You can use it as a point of reference when making your own bookings. If you’re getting more than 1.5 cents per mile for a given American redemption, you’re scoring above-average value.
How can you get more value? Start with the basics of redeeming American miles, then look for sweet spots and other optimizations. Generally, you’ll get more value by flying in premium cabins, especially with partner airlines (see “value when booking business class” below).
How do American miles compare to other airlines?
American miles offer slightly above-average value compared to other airlines.
When is the best time to use American miles?
Digging one level deeper, we can look at how the value of miles varies when used in different time frames and in different cabins (main cabin versus business). We compared three booking time frames:
15 days before departure.
180 days before departure (six months).
Peak winter holiday travel (Dec. 22-29).
Booking far in advance yielded the best value in our analysis. This doesn't mean booking last minute or during the holidays will never offer good redemptions, but it does mean that using them in this way certainly doesn't offer above-average value, on the whole.
How to convert American miles to dollars
Use this calculator to determine how much any number of American AAdvantage miles is worth, based on our valuation. This is useful for comparing the value of an award ticket to the cost of a cash ticket.
How flexible are American miles?
American miles can be used to book flights on American, of course, as well as dozens of partner airlines (through AA.com directly, not by transferring to partners). They can also be leveraged to upgrade seats.
Watch out for other redemption options, like renting cars or booking vacation packages. Yes, these technically add versatility to your American miles, but they rarely offer decent value.
» Learn more: The complete guide to American Airlines partners
How did we determine the value of American miles?
We collected hundreds of data points comparing the cash value with award (mile) value for the same routes and dates. That is, we compared the cost of a given ticket in either cash or miles, across many tickets.
This method differs from others in that it looks at actual redemptions rather than hypothetical, maximized redemptions. The advantage of this approach is that it provides a real-world indication of how much these miles are worth under typical circumstances.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card
No annual fee: Bank of America® Travel Rewards credit card
Flat-rate travel rewards: Capital One Venture Rewards Credit Card
Bonus travel rewards and high-end perks: Chase Sapphire Reserve®
Luxury perks: The Platinum Card® from American Express
Business travelers: Ink Business Preferred® Credit Card