200,000 point budget · Best uses
What you can do with 200,000 points
Where premium trips become reliably bookable. Two transferable-card sign-ups usually adds up to 200k.
All budget tiers
Most flexible currency for this tier
Chase Ultimate Rewards + Amex Membership Rewards combined
Best uses of 200,000 points
Round-trip business class to Asia (Cathay or ANA)
Alaska 50k each way for Cathay business (100k RT) or Virgin 47.5k each way for ANA (95k RT).
Round-trip business + Maldives 2 nights
92k Singapore KrisFlyer round-trip to SIN + 60k for 2 nights at Park Hyatt Maldives.
Round-trip business to South America + 3 nights luxury
115k AAdvantage round-trip + 30-50k for 3 nights at Four Seasons/Park Hyatt Buenos Aires.
Round-trip first class to Europe (Lufthansa or BA)
Aeroplan 220k round-trip Lufthansa First. Close, with points to spare via a single 200k card bonus.
Limitations at this tier: Maldives full week with over-water villa still requires 350k+ when factoring hotels.
Next tier up
What changes at 300,000 points
Genuine luxury territory. Two-week premium trips, first class one-ways, and full weeks at over-water-villa resorts come into range.