The Devaluation Report Card — 2026
Every major points program, graded by its documented record. Computed automatically from the Devaluation Tracker. This is a frozen annual edition. See the Points Inflation Index → · Statistics →
Most devalued program of the trailing year: Citi, with 6 documented changes.
Most recent: JetBlue TrueBlue removed as transfer partner for ThankYou Mastercard (Sep 20, 2026)
All 6 entries→Most recent: Priority Pass and LoungeKey access removed; connecting-flight window extended to 5 hours (Aug 15, 2026)
All 4 entries→Most recent: Saver fares stop earning points entirely (Aug 1, 2026)
All 5 entries→Most recent: Etihad Guest removed as transfer partner (Jun 30, 2026)
All 4 entries→Most recent: Fixed PlusPoints upgrade chart to be retired in favor of dynamic pricing (Feb 1, 2027)
All 7 entries→Most recent: Unannounced award increases spread to mid- and lower-tier properties (Mar 10, 2026)
All 3 entries→Most recent: Free guest and authorized-user lounge access ends for Venture X (Feb 1, 2026)
All 2 entries→Most recent: Four-tier award chart replaces three-tier system; new top tier at 45,000 points (Sep 15, 2026)
All 2 entries→Most recent: Elite complimentary upgrades limited to one cabin on premium routes (Aug 25, 2026)
All 3 entries→Most recent: Five-tier award chart replaces three-tier system; peak Category 8 rises to 75,000 points (May 20, 2026)
All 1 entry→Most recent: Fixed award charts replaced by dynamic pricing on Virgin-operated flights (Oct 30, 2024)
All 1 entry→Most recent: Starbucks earning simplified but gated behind a flight requirement (Aug 5, 2026)
All 3 entries→Most recent: "Redeem for Cashback" option removed from PayPal Rewards (Aug 1, 2026)
All 1 entry→Most recent: Widespread 5–10% increase in award night costs (Jul 7, 2026)
All 3 entries→Most recent: Wells Fargo ending points transfers between users (Jun 13, 2026)
All 1 entry→Most recent: Partner award chart increases, including North America–Pacific business (Jun 1, 2026)
All 2 entries→Most recent: Award charts rise 5–20% across most cabins; dynamic "Access" awards introduced (Nov 1, 2025)
All 1 entry→Most recent: Saver-level award prices rise approximately 15–25% on many routes including U.S.–Europe (Jan 13, 2025)
All 1 entry→Most recent: Lounge access removed on entirely domestic itineraries (Sep 1, 2026)
All 1 entry→Most recent: Long-haul premium cabin award rates rise; third increase since October 2023 (May 1, 2026)
All 1 entry→Quiet lately.
Methodology
Grades are computed mechanically from the documented events in our Devaluation Tracker: each entry is weighted by severity (minor = 1, moderate = 2, major = 3) and summed over the trailing 24 months. Stable = 0–2 points, Elevated = 3–6, High Risk = 7+. Grades sum documented devaluations by severity over that window, per company — measuring the absolute change-pressure a holder of that company's points experienced. We deliberately don't normalize for portfolio size: a company with more programs has more surface to devalue, and its cardholders feel every one of those changes. Grades reflect the frequency and severity of documented value reductions — each dated and sourced on the tracker — and represent our editorial assessment based on that record. Grades update automatically whenever new events are logged.
Cite this data
Bonus Eagle. “Devaluation Report Card.” bonuseagle.com. https://www.bonuseagle.com/devaluations/report-card