The monetary reference

The current Italian Platinum page lists EUR 500 in Shop with Points credit for 125,000 Membership Rewards points. That is arithmetically EUR 0.004, or 0.4 euro cents, per point. It reduces the card balance under the initiative’s conditions rather than providing freely withdrawable cash. Check the quote in your account before redeeming; other redemption tools can follow different rules.

Compare the same starting currency

Do not compare 100,000 MR with 100,000 miles as though they were always interchangeable. In Italy, Iberia receives four Avios per five MR and Flying Blue two miles per three MR. Keep the number of MR points used as your denominator. Otherwise, an attractive per-mile figure can conceal a weaker return per original point.

An example including cash

An invented calculation: an award costs 80,000 Avios plus EUR 300. At 5:4, those Avios require 100,000 MR. If the comparable alternative you would buy costs EUR 900, net value is EUR 600, or 0.6 euro cents per MR. If your useful alternative costs EUR 600, value falls to EUR 300, or 0.3 cents. These are not available fares; they show why the alternative changes the result.

Let actual use decide

A definite credit can be more useful than a prestigious theoretical award with no suitable dates, seats or time. An available trip already planned can offer greater net value. Include taxes, positioning travel, extra nights and cancellation terms. Do not spend more merely to demonstrate an impressive points valuation: the metric should support a choice, not justify any trip.

Cash or points?
Sources & verification · Photography
Verified
September 20, 2026

Photography

Images adapted for format and compression. Full credits and licences are available through the links.