Hyatt and Air Canada Are Now Trading Points (Read Before You Convert)

World of Hyatt and Air Canada's Aeroplan just teamed up, and points now move both ways.

Hyatt to Aeroplan: convert at 2 Hyatt points for 1 Aeroplan (minimum 5,000), or trade Hyatt points for a 30,000-point Aeroplan flight certificate. But go slow. Hyatt points are one of the most valuable hotel currencies going, usually worth more as free nights than miles, so 2-to-1 leaves value on the table. It's a top-off tool, not a reason to drain your stash.

The better direction: Aeroplan points can now book Hyatt free nights from 25,000 points. This matters most if you collect Amex or Capital One points, since neither transfers to Hyatt directly, so it's a genuinely new way in. If you have Chase or Bilt points, skip the detour and go straight to Hyatt at 1 to 1, which is the better deal.

Aeroplan's worth having anyway: no fuel surcharges on Air Canada, and you can add a stopover to a one-way award for just 5,000 points, so one award can cover two cities instead of one. Just don't convert your Hyatt points away when they'd go further as free nights.