How to Redeem Travel Points for Gift Cards or a Statement Credit

Redeem Travel Points for Gift Cards or a Statement Credit
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Estimated reading time: 5 minutes

Do you have a travel credit card? If there are a lot of travel points or miles on it, you may wonder how you can take advantage of them. Here are some things to consider if you decide to redeem travel points for gift cards or a statement credit.

Should You Redeem Travel Points for Gift Cards?

You can’t predict what might happen with your personal finances tomorrow. Redeeming your points for a gift card may not be the most suitable option as they offer low value compared to travel bonuses. It all depends on the program you choose but if you utilize your travel points for other purposes except travel, it will devalue them by 20-30%.

On the other hand, since many Canadians experience financial struggles and often turn to small loans Winnipeg and in other cities, it may be reasonable to use this strategy to your advantage.

When you are experiencing cash flow issues, you will most likely think about more grounded matters rather than travel. If you can’t make the ends meet or face overdue bills, it’s time to take action. In order to avoid getting into debt, you may need to redeem your points for gift cards with the following loyalty programs available in Canada.

SEE ALSO: 13 Awesome Travel Apps That Can Help You Find the Best Vacation Spots

Reasons to Redeem Your Travel Points for Gift Cards

  • As the global pandemic left us without travel, nobody knows when things will get back to normal and we will be able to travel freely again. Also, it’s not clear how the point values, flight prices, and travel programs will change after the pandemic is over.
  • Using your travel points can help you cover your daily purchases and necessary expenses. A gift card to Amazon or Costco may lower the bill next time you go shopping, and a cash credit may lower the overall balance on your credit card. When you are strapped for cash and search for ways to save on everyday spending, it can be a suitable option.


This is one of the biggest airline loyalty programs across the globe. They partner with multiple companies where consumers may redeem Aeroplan miles for gift cards such as:

  • Amazon
  • Costco
  • Esso
  • Petro Canada
  • Hudson’s Bay
  • Winners Indigo
  • The Keg
  • Starbucks

For instance, Costco gift cards offer a great value as you can claim $100 for 13,500 Miles. A different number of travel miles is necessary to redeem with each company but here is the general rule:

  • 14,000 Miles = $100
  • 7,000 Miles = $50
  • 3,500 Miles = $25


Are you collecting AIR MILES Cash Miles? If yes, you have a chance to redeem these points for gift cards. There is no option to convert current Dream Miles into Cash Miles. Every consumer may claim 95 Cash Miles for $10 at various companies such as:

  • Shell
  • Metro
  • Pizza Pizza
  • Foodland
  • Rexall
  • Sobeys

Some of these merchants and companies allow clients to redeem miles in-store during their purchases. In other cases, you will need to obtain an eVoucher to shop online or in-store and get a discount.

SEE ALSO: Travel Tips For The Newbie International Traveler

RBC Rewards

Those who collect RBC Rewards may redeem their points for a statement credit or gift cards as well. The majority of such redemptions will cost consumers 14,000 for every $100. There are over a hundred companies that cooperate with RBC Rewards such as:

  • The Beer Store
  •  Amazon
  • A&W
  • McDonald’s
  • Canadian Tire
  • Longo’s
  • Dollarama
  • Cadillac Fairview
  • Food Basic’s

If you have a mortgage with RBC, you may claim 12,000 points for $100 off the principal. It offers a good value and the ability to save on interest rates. Consumers who want a statement credit should claim 17,200 points for $100.

American Express Membership Rewards

This loyalty program is really flexible and affordable. It allows clients to utilize their points for a statement credit or gift card. In order to perform this option, you may turn to one of these partners:

  • Indigo
  • Home Depot
  • Saks Fifth Avenue
  • Oliver & Bonacini
  • Hudson’s Bay
  • Holt Renfrew

The following number of travel points is necessary to redeem them for gift cards:

  • 13,000 points = $100
  •  6,500 points = $50
  • 3,250 points = $25

More than that, it’s possible to utilize the points as a statement credit. Do you have a business or personal American Express Card? Depending on the type of card you own, you may get a different value.

  • Personal cards: travel is 1,000 points = $10, non-travel is 1,000 points = $7
  • Small business cards: both travel and non-travel is 1,000 points = $10

Scotia Rewards

The majority of gift cards will cost 13,400 points for a $100 gift card for Scotia rewards collectors. Here are some companies and merchants who cooperate with this loyalty program:

  • Metro
  • Shell
  • Tim Horton’s
  • Amazon
  • Sephora
  • President’s Choice
  • Walmart

As for statement credits, the more points a consumer claims, the larger statement credit he or she will get. Furthermore, it will cost them fewer travel points compared to the lowest redemption value:

  • 71,500 Scotia Rewards points = $500
  • 14,500 Scotia Rewards points = $100
  • 7,500 Scotia Rewards points = $50
  • 3,000 Scotia Rewards points = $20

In conclusion, you won’t be able to get the highest value for your travel points if you redeem them for gift cards or a statement credit. However, it’s still a reasonable decision if you face urgent monetary disruptions and feel pressed for funds. We don’t know when the current lockdown will finish to let us enjoy travel again so it doesn’t make sense to hold onto your travel points and miles if you don’t have enough savings or a regular job.