Devaluation Watch

Which currencies are decaying, ranked by threat.

Loyalty currencies only move one way. This is the ranked watch list — the threat level on each entry is what drives that program's status badge everywhere else on the site.

Virgin Atlantic Flying ClubWATCH

This quarter

ANA partner award pricing rumored to rise up to 60%

It's widely regarded as the best first-class redemption going — which is exactly why the rumored increase matters. Nothing's confirmed yet, but partner charts this generous have historically lasted only 12–24 months after going mainstream, so the downside is real.

What to do right now

If ANA First is a priority and your dates are firm, waiting creates more downside than upside — transfer and book now. If your plans are still loose, don't move on a rumor.

RUMOREDJun 28, 2026

Air Canada AeroplanWATCH

Last 60 days

Partner award prices creeping above published ranges

Select partner awards are pricing above the chart's stated maximums — often the first sign of dynamic pricing creeping in. It's a pattern we're tracking, not yet a chart-wide change.

What to do right now

The stopover sweet spots still work today, so book firm plans early. A large balance held to stockpile is the position most exposed if the creep continues.

MONITORINGJul 1, 2026

Delta SkyMilesWATCH

Ongoing

Premium cabin awards routinely pricing at 400k+ round-trip

SkyMiles dropped award charts years ago, so international premium cabins now price purely on revenue management — routinely 400k+ round-trip. With no chart to anchor them, that's unlikely to reverse.

What to do right now

Treat SkyMiles as a ~1.1¢ currency best spent on domestic flash sales. Hoarding them for premium-cabin dreams rarely pays off at these prices — earn and burn.

MONITORINGJun 30, 2026

Marriott BonvoyWATCH

Ongoing

Top-tier properties drifting past 150k per night

Fully dynamic pricing means yesterday's 85k aspirational property can be today's 230k 'flexible rate' — no chart and no floor to hold the price down.

What to do right now

Holding a large Bonvoy balance? Spend it on high-value stays this year rather than banking it. Free-night certificates are holding value better than points, so lean on those.

MONITORINGJul 2, 2026

Hilton HonorsWATCH

Last 90 days

Standard award caps quietly removed at flagship properties

Premium Hiltons in destinations like the Maldives now run 150k+ per night, eroding one of the currency's few dependable uses.

What to do right now

Value Hilton points at ~0.5¢ and spend them on near-term stays. If you're banking a balance for 'someday', someday keeps getting more expensive.

MONITORINGJun 29, 2026

PointsSnob

Checking the facts…

The next page is getting its evidence in order.

Which currencies are decaying, ranked by threat.

Loyalty currencies only move one way. This is the ranked watch list — the threat level on each entry is what drives that program's status badge everywhere else on the site.

Virgin Atlantic Flying ClubWATCH

This quarter

ANA partner award pricing rumored to rise up to 60%

What to do right now

If ANA First is a priority and your dates are firm, waiting creates more downside than upside — transfer and book now. If your plans are still loose, don't move on a rumor.

RUMOREDJun 28, 2026

Air Canada AeroplanWATCH

Last 60 days

Partner award prices creeping above published ranges

Select partner awards are pricing above the chart's stated maximums — often the first sign of dynamic pricing creeping in. It's a pattern we're tracking, not yet a chart-wide change.

What to do right now

The stopover sweet spots still work today, so book firm plans early. A large balance held to stockpile is the position most exposed if the creep continues.

MONITORINGJul 1, 2026

Delta SkyMilesWATCH

Ongoing

Premium cabin awards routinely pricing at 400k+ round-trip

What to do right now

Treat SkyMiles as a ~1.1¢ currency best spent on domestic flash sales. Hoarding them for premium-cabin dreams rarely pays off at these prices — earn and burn.

MONITORINGJun 30, 2026

Marriott BonvoyWATCH

Ongoing

Top-tier properties drifting past 150k per night

Fully dynamic pricing means yesterday's 85k aspirational property can be today's 230k 'flexible rate' — no chart and no floor to hold the price down.

What to do right now

Holding a large Bonvoy balance? Spend it on high-value stays this year rather than banking it. Free-night certificates are holding value better than points, so lean on those.

MONITORINGJul 2, 2026

Hilton HonorsWATCH

Last 90 days

Standard award caps quietly removed at flagship properties

Premium Hiltons in destinations like the Maldives now run 150k+ per night, eroding one of the currency's few dependable uses.

What to do right now

Value Hilton points at ~0.5¢ and spend them on near-term stays. If you're banking a balance for 'someday', someday keeps getting more expensive.

MONITORINGJun 29, 2026