{
  "assumptions": {
    "household_types": "single 30%, couple 34%, family with children 36%. Each type tilts the category mix (see tilts in scripts/cmd/household-study/main.go).",
    "income_distribution": "Lognormal with median $87460 and sigma 0.75, truncated to $12000–$650000.",
    "international_excluded": "Spending abroad is excluded; it is a separate question and the calculator treats it as its own category.",
    "jitter": "Each category budget is multiplied by a lognormal draw with sigma 0.18, so two households on the same income differ.",
    "modeled_not_surveyed": "Every household is generated by this program. The income distribution is calibrated to the U.S. household income distribution and the category budgets are anchored to the calculator's Average preset, but no row is a real household.",
    "non_travelers": "45% of households have no airfare or hotel spending.",
    "rent_excluded": "Rent and mortgage are excluded: most households cannot put them on a card without a fee, and the fee changes the answer.",
    "rounding": "Category dollars are rounded to whole dollars; household income to the nearest $100.",
    "seed": "1592598566/1000 (math/rand/v2 PCG)",
    "spend_scaling": "Card-eligible spending scales with income as (income/median)^0.55, clamped to 0.40x–2.80x of the Average preset."
  },
  "by_household_type": [
    {
      "label": "single",
      "households": 311,
      "share": 0.311,
      "median_income": 85400,
      "median_monthly_card_spend": 1918,
      "median_baseline": {
        "1.5pct": 345.24,
        "1pct": 230.16,
        "2pct": 460.32
      },
      "median_best_up_to_1_2_3_4": [
        1076.12,
        1367.1,
        1436.66,
        1455.14
      ],
      "median_gap_vs_flat_4_cards": {
        "1.5pct": 1117.53,
        "1pct": 1231.95,
        "2pct": 1001.36
      },
      "median_gap_share_of_card_spend": 4.87,
      "median_cash_back_gap_vs_1_5pct": 343.84
    },
    {
      "label": "couple",
      "households": 329,
      "share": 0.329,
      "median_income": 86700,
      "median_monthly_card_spend": 2357,
      "median_baseline": {
        "1.5pct": 424.26,
        "1pct": 282.84,
        "2pct": 565.68
      },
      "median_best_up_to_1_2_3_4": [
        1300.57,
        1665.29,
        1748.53,
        1770.6
      ],
      "median_gap_vs_flat_4_cards": {
        "1.5pct": 1351.61,
        "1pct": 1487.16,
        "2pct": 1214.1
      },
      "median_gap_share_of_card_spend": 4.91,
      "median_cash_back_gap_vs_1_5pct": 427.06
    },
    {
      "label": "family",
      "households": 360,
      "share": 0.36,
      "median_income": 87000,
      "median_monthly_card_spend": 2968.5,
      "median_baseline": {
        "1.5pct": 534.33,
        "1pct": 356.22,
        "2pct": 712.44
      },
      "median_best_up_to_1_2_3_4": [
        1621.16,
        2086.76,
        2188.47,
        2210.56
      ],
      "median_gap_vs_flat_4_cards": {
        "1.5pct": 1668.13,
        "1pct": 1849.49,
        "2pct": 1485.04
      },
      "median_gap_share_of_card_spend": 4.84,
      "median_cash_back_gap_vs_1_5pct": 533.74
    }
  ],
  "by_income_band": [
    {
      "label": "Under $40k",
      "households": 150,
      "share": 0.15,
      "median_income": 28250,
      "median_monthly_card_spend": 1241.5,
      "median_baseline": {
        "1.5pct": 223.47,
        "1pct": 148.98,
        "2pct": 297.96
      },
      "median_best_up_to_1_2_3_4": [
        712.04,
        882.43,
        919.23,
        931.65
      ],
      "median_gap_vs_flat_4_cards": {
        "1.5pct": 717.85,
        "1pct": 791.61,
        "2pct": 642.38
      },
      "median_gap_share_of_card_spend": 4.91,
      "median_cash_back_gap_vs_1_5pct": 197.92
    },
    {
      "label": "$40k–$60k",
      "households": 148,
      "share": 0.148,
      "median_income": 51250,
      "median_monthly_card_spend": 1823,
      "median_baseline": {
        "1.5pct": 328.14,
        "1pct": 218.76,
        "2pct": 437.52
      },
      "median_best_up_to_1_2_3_4": [
        1020.62,
        1317.77,
        1376.11,
        1393.5
      ],
      "median_gap_vs_flat_4_cards": {
        "1.5pct": 1059.84,
        "1pct": 1172.16,
        "2pct": 948.83
      },
      "median_gap_share_of_card_spend": 4.91,
      "median_cash_back_gap_vs_1_5pct": 319.93
    },
    {
      "label": "$60k–$80k",
      "households": 158,
      "share": 0.158,
      "median_income": 68150,
      "median_monthly_card_spend": 2058.5,
      "median_baseline": {
        "1.5pct": 370.53,
        "1pct": 247.02,
        "2pct": 494.04
      },
      "median_best_up_to_1_2_3_4": [
        1117.64,
        1411.17,
        1488.38,
        1509.18
      ],
      "median_gap_vs_flat_4_cards": {
        "1.5pct": 1154.35,
        "1pct": 1268.28,
        "2pct": 1031.3
      },
      "median_gap_share_of_card_spend": 4.74,
      "median_cash_back_gap_vs_1_5pct": 364.84
    },
    {
      "label": "$80k–$100k",
      "households": 120,
      "share": 0.12,
      "median_income": 88200,
      "median_monthly_card_spend": 2405,
      "median_baseline": {
        "1.5pct": 432.9,
        "1pct": 288.6,
        "2pct": 577.2
      },
      "median_best_up_to_1_2_3_4": [
        1337.18,
        1702.36,
        1789.49,
        1811.24
      ],
      "median_gap_vs_flat_4_cards": {
        "1.5pct": 1390.78,
        "1pct": 1532.3,
        "2pct": 1244.76
      },
      "median_gap_share_of_card_spend": 4.74,
      "median_cash_back_gap_vs_1_5pct": 436
    },
    {
      "label": "$100k–$150k",
      "households": 179,
      "share": 0.179,
      "median_income": 119900,
      "median_monthly_card_spend": 2834,
      "median_baseline": {
        "1.5pct": 510.12,
        "1pct": 340.08,
        "2pct": 680.16
      },
      "median_best_up_to_1_2_3_4": [
        1583.39,
        2026.3,
        2128.38,
        2152.82
      ],
      "median_gap_vs_flat_4_cards": {
        "1.5pct": 1620.71,
        "1pct": 1797.48,
        "2pct": 1456.41
      },
      "median_gap_share_of_card_spend": 4.9,
      "median_cash_back_gap_vs_1_5pct": 534.16
    },
    {
      "label": "$150k–$250k",
      "households": 147,
      "share": 0.147,
      "median_income": 186900,
      "median_monthly_card_spend": 3654,
      "median_baseline": {
        "1.5pct": 657.72,
        "1pct": 438.48,
        "2pct": 876.96
      },
      "median_best_up_to_1_2_3_4": [
        2039.9,
        2586.96,
        2740.22,
        2776.54
      ],
      "median_gap_vs_flat_4_cards": {
        "1.5pct": 2120.45,
        "1pct": 2334.83,
        "2pct": 1906.07
      },
      "median_gap_share_of_card_spend": 4.9,
      "median_cash_back_gap_vs_1_5pct": 694.06
    },
    {
      "label": "$250k and up",
      "households": 98,
      "share": 0.098,
      "median_income": 317000,
      "median_monthly_card_spend": 5247.5,
      "median_baseline": {
        "1.5pct": 944.55,
        "1pct": 629.7,
        "2pct": 1259.4
      },
      "median_best_up_to_1_2_3_4": [
        2921.27,
        3707.85,
        3890.69,
        3929.95
      ],
      "median_gap_vs_flat_4_cards": {
        "1.5pct": 3001.6,
        "1pct": 3311.05,
        "2pct": 2701.49
      },
      "median_gap_share_of_card_spend": 4.73,
      "median_cash_back_gap_vs_1_5pct": 1007.18
    }
  ],
  "cash_back_only": {
    "gap_vs_flat_cards": {
      "1.5pct": {
        "gap_2_cards": {
          "n": 1000,
          "mean": 493.6,
          "p10": 218.73,
          "p25": 304.44,
          "median": 433.33,
          "p75": 618.78,
          "p90": 839.66
        },
        "gap_4_cards": {
          "n": 1000,
          "mean": 493.9,
          "p10": 218.73,
          "p25": 304.44,
          "median": 433.33,
          "p75": 618.78,
          "p90": 839.66
        },
        "gap_as_percent_of_spend": {
          "n": 1000,
          "mean": 1.5,
          "p10": 1.34,
          "p25": 1.42,
          "median": 1.51,
          "p75": 1.6,
          "p90": 1.64
        },
        "gap_rewards_only": {
          "n": 1000,
          "mean": 491.5,
          "p10": 218.73,
          "p25": 304.44,
          "median": 433.33,
          "p75": 618.78,
          "p90": 837.59
        },
        "label": "1.5% flat cash back (a typical no-fee flat rewards card)",
        "optimized_rewards_only": {
          "n": 1000,
          "mean": 974.51,
          "p10": 466.23,
          "p25": 620.38,
          "median": 856.12,
          "p75": 1204.24,
          "p90": 1631.4
        },
        "rate": 0.015,
        "shares": {
          "at_least_1": 1,
          "at_least_100": 0.997,
          "at_least_1000": 0.051,
          "at_least_250": 0.856,
          "at_least_500": 0.388
        }
      },
      "1pct": {
        "gap_2_cards": {
          "n": 1000,
          "mean": 654.61,
          "p10": 301.32,
          "p25": 409.45,
          "median": 574,
          "p75": 811.87,
          "p90": 1106
        },
        "gap_4_cards": {
          "n": 1000,
          "mean": 654.91,
          "p10": 301.32,
          "p25": 409.45,
          "median": 574,
          "p75": 811.87,
          "p90": 1106
        },
        "gap_as_percent_of_spend": {
          "n": 1000,
          "mean": 2,
          "p10": 1.84,
          "p25": 1.92,
          "median": 2.01,
          "p75": 2.1,
          "p90": 2.14
        },
        "gap_rewards_only": {
          "n": 1000,
          "mean": 652.5,
          "p10": 301.32,
          "p25": 409.45,
          "median": 574,
          "p75": 811.87,
          "p90": 1103.37
        },
        "label": "1% flat cash back (no rewards strategy)",
        "optimized_rewards_only": {
          "n": 1000,
          "mean": 974.51,
          "p10": 466.23,
          "p25": 620.38,
          "median": 856.12,
          "p75": 1204.24,
          "p90": 1631.4
        },
        "rate": 0.01,
        "shares": {
          "at_least_1": 1,
          "at_least_100": 1,
          "at_least_1000": 0.149,
          "at_least_250": 0.944,
          "at_least_500": 0.614
        }
      },
      "2pct": {
        "gap_2_cards": {
          "n": 1000,
          "mean": 332.6,
          "p10": 137.33,
          "p25": 200.17,
          "median": 288.64,
          "p75": 422.32,
          "p90": 579.89
        },
        "gap_4_cards": {
          "n": 1000,
          "mean": 332.9,
          "p10": 137.33,
          "p25": 200.17,
          "median": 288.64,
          "p75": 422.32,
          "p90": 579.89
        },
        "gap_as_percent_of_spend": {
          "n": 1000,
          "mean": 1,
          "p10": 0.84,
          "p25": 0.92,
          "median": 1.01,
          "p75": 1.1,
          "p90": 1.14
        },
        "gap_rewards_only": {
          "n": 1000,
          "mean": 330.49,
          "p10": 137.33,
          "p25": 200.17,
          "median": 288.64,
          "p75": 421.78,
          "p90": 569.18
        },
        "label": "2% flat cash back (the best no-thought single card)",
        "optimized_rewards_only": {
          "n": 1000,
          "mean": 974.51,
          "p10": 466.23,
          "p25": 620.38,
          "median": 856.12,
          "p75": 1204.24,
          "p90": 1631.4
        },
        "rate": 0.02,
        "shares": {
          "at_least_1": 1,
          "at_least_100": 0.958,
          "at_least_1000": 0.007,
          "at_least_250": 0.606,
          "at_least_500": 0.16
        }
      }
    },
    "note": "The same 1,000 households, restricted to cards that pay cash back (no points or miles cards, even at cash value). No pooling.",
    "pick_frequency": {
      "1": [
        {
          "name": "Robinhood Gold",
          "count": 1000,
          "share": 1
        }
      ],
      "2": [
        {
          "name": "Costco Anywhere Visa Card by Citi + Robinhood Gold",
          "count": 999,
          "share": 0.999
        },
        {
          "name": "Robinhood Gold + Robinhood Platinum Card",
          "count": 1,
          "share": 0.001
        }
      ],
      "3": [
        {
          "name": "Costco Anywhere Visa Card by Citi + Robinhood Gold",
          "count": 982,
          "share": 0.982
        },
        {
          "name": "Capital One Savor + Citi Double Cash + Costco Anywhere Visa Card by Citi",
          "count": 10,
          "share": 0.01
        },
        {
          "name": "Costco Anywhere Visa Card by Citi + Robinhood Gold + Robinhood Platinum Card",
          "count": 8,
          "share": 0.008
        }
      ],
      "4": [
        {
          "name": "Costco Anywhere Visa Card by Citi + Robinhood Gold",
          "count": 975,
          "share": 0.975
        },
        {
          "name": "Capital One Savor + Citi Double Cash + Costco Anywhere Visa Card by Citi",
          "count": 14,
          "share": 0.014
        },
        {
          "name": "Costco Anywhere Visa Card by Citi + Robinhood Gold + Robinhood Platinum Card",
          "count": 8,
          "share": 0.008
        },
        {
          "name": "Capital One Savor + Chase Freedom Unlimited + Citi Double Cash + Costco Anywhere Visa Card by Citi",
          "count": 3,
          "share": 0.003
        }
      ]
    },
    "wallet_value": {
      "1": {
        "year2_total": {
          "n": 1000,
          "mean": 944.9,
          "p10": 448.92,
          "p25": 599.26,
          "median": 828.76,
          "p75": 1165.54,
          "p90": 1583.44
        }
      },
      "2": {
        "year2_total": {
          "n": 1000,
          "mean": 976.62,
          "p10": 466.23,
          "p25": 620.38,
          "median": 856.12,
          "p75": 1204.24,
          "p90": 1632.1
        }
      },
      "3": {
        "year2_total": {
          "n": 1000,
          "mean": 976.91,
          "p10": 466.23,
          "p25": 620.38,
          "median": 856.12,
          "p75": 1204.24,
          "p90": 1632.1
        }
      },
      "4": {
        "year2_total": {
          "n": 1000,
          "mean": 976.92,
          "p10": 466.23,
          "p25": 620.38,
          "median": 856.12,
          "p75": 1204.24,
          "p90": 1632.1
        }
      }
    }
  },
  "gap_vs_flat_cards": {
    "1.5pct": {
      "gap_2_cards": {
        "n": 1000,
        "mean": 1428.28,
        "p10": 678.98,
        "p25": 923.96,
        "median": 1262.91,
        "p75": 1755.2,
        "p90": 2371.58
      },
      "gap_4_cards": {
        "n": 1000,
        "mean": 1548.03,
        "p10": 737.11,
        "p25": 1009.5,
        "median": 1376.49,
        "p75": 1903.84,
        "p90": 2570.08
      },
      "gap_as_percent_of_spend": {
        "n": 1000,
        "mean": 4.8,
        "p10": 4.35,
        "p25": 4.46,
        "median": 4.87,
        "p75": 5.1,
        "p90": 5.22
      },
      "gap_rewards_only": {
        "n": 1000,
        "mean": 724.76,
        "p10": -69.82,
        "p25": 184.5,
        "median": 551.49,
        "p75": 1078.84,
        "p90": 1745.08
      },
      "label": "1.5% flat cash back (a typical no-fee flat rewards card)",
      "optimized_rewards_only": {
        "n": 1000,
        "mean": 1207.78,
        "p10": 164.78,
        "p25": 499.57,
        "median": 971.59,
        "p75": 1666.25,
        "p90": 2542.88
      },
      "rate": 0.015,
      "shares": {
        "at_least_1": 1,
        "at_least_100": 1,
        "at_least_1000": 0.758,
        "at_least_250": 1,
        "at_least_500": 0.991
      }
    },
    "1pct": {
      "gap_2_cards": {
        "n": 1000,
        "mean": 1589.29,
        "p10": 758.59,
        "p25": 1030.54,
        "median": 1402.33,
        "p75": 1955.08,
        "p90": 2645.83
      },
      "gap_4_cards": {
        "n": 1000,
        "mean": 1709.03,
        "p10": 819.54,
        "p25": 1112.2,
        "median": 1517.69,
        "p75": 2101.92,
        "p90": 2838.59
      },
      "gap_as_percent_of_spend": {
        "n": 1000,
        "mean": 5.3,
        "p10": 4.85,
        "p25": 4.96,
        "median": 5.37,
        "p75": 5.6,
        "p90": 5.72
      },
      "gap_rewards_only": {
        "n": 1000,
        "mean": 885.76,
        "p10": 12,
        "p25": 287.2,
        "median": 692.69,
        "p75": 1276.92,
        "p90": 2013.59
      },
      "label": "1% flat cash back (no rewards strategy)",
      "optimized_rewards_only": {
        "n": 1000,
        "mean": 1207.78,
        "p10": 164.78,
        "p25": 499.57,
        "median": 971.59,
        "p75": 1666.25,
        "p90": 2542.88
      },
      "rate": 0.01,
      "shares": {
        "at_least_1": 1,
        "at_least_100": 1,
        "at_least_1000": 0.825,
        "at_least_250": 1,
        "at_least_500": 0.996
      }
    },
    "2pct": {
      "gap_2_cards": {
        "n": 1000,
        "mean": 1267.28,
        "p10": 596.77,
        "p25": 817.79,
        "median": 1121.37,
        "p75": 1558,
        "p90": 2113.31
      },
      "gap_4_cards": {
        "n": 1000,
        "mean": 1387.02,
        "p10": 664.97,
        "p25": 905.17,
        "median": 1229.93,
        "p75": 1701.6,
        "p90": 2293.89
      },
      "gap_as_percent_of_spend": {
        "n": 1000,
        "mean": 4.3,
        "p10": 3.85,
        "p25": 3.96,
        "median": 4.37,
        "p75": 4.6,
        "p90": 4.72
      },
      "gap_rewards_only": {
        "n": 1000,
        "mean": 563.75,
        "p10": -157.66,
        "p25": 80.16,
        "median": 404.93,
        "p75": 876.6,
        "p90": 1468.89
      },
      "label": "2% flat cash back (the best no-thought single card)",
      "optimized_rewards_only": {
        "n": 1000,
        "mean": 1207.78,
        "p10": 164.78,
        "p25": 499.57,
        "median": 971.59,
        "p75": 1666.25,
        "p90": 2542.88
      },
      "rate": 0.02,
      "shares": {
        "at_least_1": 1,
        "at_least_100": 1,
        "at_least_1000": 0.677,
        "at_least_250": 1,
        "at_least_500": 0.976
      }
    }
  },
  "headline": {
    "annual_income": {
      "n": 1000,
      "mean": 117824,
      "p10": 32690,
      "p25": 54700,
      "median": 86350,
      "p75": 146750,
      "p90": 241170
    },
    "households": 1000,
    "mean_gap_vs_1_5pct": 1548.03,
    "median_cash_back_gap": 433.33,
    "median_gap_rewards_only_vs_1_5pct": 551.49,
    "median_gap_rewards_only_vs_2pct": 404.93,
    "median_gap_two_cards": 1262.91,
    "median_gap_vs_1_5pct": 1376.49,
    "median_gap_vs_1pct": 1517.69,
    "median_gap_vs_2pct": 1229.93,
    "monthly_card_spend": {
      "n": 1000,
      "mean": 2683.43,
      "p10": 1367.4,
      "p25": 1756,
      "median": 2365.5,
      "p75": 3261.25,
      "p90": 4434.8
    }
  },
  "marginal_value": {
    "2": {
      "shares": {
        "under_100": 0.004,
        "under_25": 0,
        "under_50": 0
      },
      "stats": {
        "n": 1000,
        "mean": 415.44,
        "p10": 189.98,
        "p25": 271.04,
        "median": 370.63,
        "p75": 510.97,
        "p90": 700.32
      }
    },
    "3": {
      "shares": {
        "under_100": 0.637,
        "under_25": 0.03,
        "under_50": 0.111
      },
      "stats": {
        "n": 1000,
        "mean": 96.1,
        "p10": 47.59,
        "p25": 63.24,
        "median": 86.12,
        "p75": 116.25,
        "p90": 153.88
      }
    },
    "4": {
      "shares": {
        "under_100": 1,
        "under_25": 0.67,
        "under_50": 0.974
      },
      "stats": {
        "n": 1000,
        "mean": 23.64,
        "p10": 14.12,
        "p25": 17.08,
        "median": 21.49,
        "p75": 27.53,
        "p90": 35.19
      }
    }
  },
  "method": {
    "baseline": "A single no-fee flat-rate card used for every purchase, at 1%, 1.5% or 2% back. No signup bonus, no credits, no category strategy.",
    "cash_back_only": "The same households again restricted to cards whose currency is cash back, with no pooling.",
    "cash_eligible_cards": 11,
    "catalog_cards": 95,
    "command": "go run ./scripts/cmd/household-study",
    "eligibility": "Personal cards only (the calculator default), no cards already held, all reward types for the main run.",
    "eligible_cards": 64,
    "gap": "Optimized wallet (up to four cards, Year 2+) minus the flat single-card baseline. This is the 'left on the table' number.",
    "households": 1000,
    "public_data": "/static/study/household-study/households.csv",
    "thresholds": [
      1,
      100,
      250,
      500,
      1000
    ],
    "value": "Year 2+ total as the calculator shows it: rewards at TPG values (stand-alone cards pooled when the wallet has an unlocker) minus annual fees plus statement credits the calculator counts by default. Signup bonuses excluded.",
    "wallet_rule": "The calculator's pick with up to N cards; the value of 'up to N' is the best of its 1..N picks, so a larger allowance never scores lower."
  },
  "pick_frequency": {
    "1": [
      {
        "name": "Capital One Venture X",
        "count": 533,
        "share": 0.533
      },
      {
        "name": "American Express Gold",
        "count": 385,
        "share": 0.385
      },
      {
        "name": "Citi Strata Premier",
        "count": 82,
        "share": 0.082
      }
    ],
    "2": [
      {
        "name": "American Express Gold + Capital One Venture X",
        "count": 925,
        "share": 0.925
      },
      {
        "name": "Capital One Venture X + Citi Strata Premier",
        "count": 75,
        "share": 0.075
      }
    ],
    "3": [
      {
        "name": "American Express Gold + Capital One Venture X + Wells Fargo Autograph",
        "count": 878,
        "share": 0.878
      },
      {
        "name": "American Express Gold + Capital One Venture X + Citi Strata Premier",
        "count": 110,
        "share": 0.11
      },
      {
        "name": "Capital One Venture X + Citi Strata Premier + Wells Fargo Autograph",
        "count": 10,
        "share": 0.01
      },
      {
        "name": "Delta SkyMiles Gold + Wells Fargo Active Cash + Wells Fargo Autograph",
        "count": 2,
        "share": 0.002
      }
    ],
    "4": [
      {
        "name": "American Express Gold + Capital One Venture X + Citi Strata Premier + Wells Fargo Autograph",
        "count": 995,
        "share": 0.995
      },
      {
        "name": "Capital One Venture X + Citi Strata Premier + Wells Fargo Autograph",
        "count": 3,
        "share": 0.003
      },
      {
        "name": "Delta SkyMiles Gold + Wells Fargo Active Cash + Wells Fargo Autograph",
        "count": 2,
        "share": 0.002
      }
    ]
  },
  "valuations": {
    "cents_per_point": {
      "Air Canada Aeroplan": 1.5,
      "Alaska Airlines Atmos Rewards": 1.55,
      "American Airlines AAdvantage": 1.45,
      "Amex Membership Rewards": 2,
      "Bank of America Points": 1,
      "Bilt Rewards": 2.2,
      "Capital One Miles": 1.85,
      "Cash back": 1,
      "Chase Ultimate Rewards": 2.05,
      "Choice Privileges": 0.85,
      "Citi ThankYou Rewards": 1.9,
      "Delta SkyMiles": 1.2,
      "Disney Rewards Dollars": 1,
      "Fidelity Rewards Points": 1,
      "Frontier Miles": 1.3,
      "Hilton Honors": 0.4,
      "IHG One Rewards": 0.6,
      "JetBlue TrueBlue": 1.35,
      "Lufthansa Miles \u0026 More": 1,
      "Marriott Bonvoy": 0.75,
      "Southwest Rapid Rewards": 1.25,
      "Turkish Airlines Miles\u0026Smiles": 1.1,
      "U.S. Bank Points": 1,
      "United MileagePlus": 1.2,
      "Wells Fargo Rewards": 1.75,
      "World of Hyatt": 1.65,
      "Wyndham Rewards": 0.55
    },
    "source": {
      "Name": "The Points Guy",
      "Month": "October 2026",
      "Published": "2026-10-01",
      "URL": "https://thepointsguy.com/guide/monthly-valuations/"
    },
    "stand_alone_cards": {
      "Capital One Savor": {
        "alone_cents": 1,
        "pooled_cents": 1.85,
        "with": "a Capital One Venture, Venture X or VentureOne (personal or business), which turns cash back into miles at 1¢ = 1 mile"
      },
      "Capital One Savor Student": {
        "alone_cents": 1,
        "pooled_cents": 1.85,
        "with": "a Capital One Venture, Venture X or VentureOne (personal or business), which turns cash back into miles at 1¢ = 1 mile"
      },
      "Capital One SavorOne": {
        "alone_cents": 1,
        "pooled_cents": 1.85,
        "with": "a Capital One Venture, Venture X or VentureOne (personal or business), which turns cash back into miles at 1¢ = 1 mile"
      },
      "Capital One Spark Cash": {
        "alone_cents": 1,
        "pooled_cents": 1.85,
        "with": "a Capital One Venture, Venture X or VentureOne (personal or business), which turns cash back into miles at 1¢ = 1 mile"
      },
      "Capital One Spark Cash Plus": {
        "alone_cents": 1,
        "pooled_cents": 1.85,
        "with": "a Capital One Venture, Venture X or VentureOne (personal or business), which turns cash back into miles at 1¢ = 1 mile"
      },
      "Capital One Spark Cash Select": {
        "alone_cents": 1,
        "pooled_cents": 1.85,
        "with": "a Capital One Venture, Venture X or VentureOne (personal or business), which turns cash back into miles at 1¢ = 1 mile"
      },
      "Chase Freedom Flex": {
        "alone_cents": 1,
        "pooled_cents": 2.05,
        "with": "a Sapphire Preferred, Sapphire Reserve, Sapphire Reserve for Business or Ink Business Preferred"
      },
      "Chase Freedom Rise": {
        "alone_cents": 1,
        "pooled_cents": 2.05,
        "with": "a Sapphire Preferred, Sapphire Reserve, Sapphire Reserve for Business or Ink Business Preferred"
      },
      "Chase Freedom Unlimited": {
        "alone_cents": 1,
        "pooled_cents": 2.05,
        "with": "a Sapphire Preferred, Sapphire Reserve, Sapphire Reserve for Business or Ink Business Preferred"
      },
      "Chase Ink Business Cash": {
        "alone_cents": 1,
        "pooled_cents": 2.05,
        "with": "a Sapphire Preferred, Sapphire Reserve, Sapphire Reserve for Business or Ink Business Preferred"
      },
      "Chase Ink Business Unlimited": {
        "alone_cents": 1,
        "pooled_cents": 2.05,
        "with": "a Sapphire Preferred, Sapphire Reserve, Sapphire Reserve for Business or Ink Business Preferred"
      },
      "Citi Custom Cash": {
        "alone_cents": 1,
        "pooled_cents": 1.9,
        "with": "a Citi Strata Premier or Strata Elite"
      },
      "Citi Double Cash": {
        "alone_cents": 1,
        "pooled_cents": 1.9,
        "with": "a Citi Strata Premier or Strata Elite"
      },
      "Citi Strata": {
        "alone_cents": 1,
        "pooled_cents": 1.9,
        "with": "a Citi Strata Premier or Strata Elite"
      },
      "Wells Fargo Active Cash": {
        "alone_cents": 1,
        "pooled_cents": 1.75,
        "with": "a Wells Fargo Autograph or Autograph Journey"
      }
    }
  },
  "wallet_value": {
    "1": {
      "credits_counted_in_pick": {
        "n": 1000,
        "mean": 359.11,
        "p10": 240,
        "p25": 240,
        "median": 485,
        "p75": 485,
        "p90": 485
      },
      "rewards_minus_fees_of_pick": {
        "n": 1000,
        "mean": 1136.75,
        "p10": 252.93,
        "p25": 539.07,
        "median": 974.28,
        "p75": 1539.78,
        "p90": 2174.6
      },
      "year2_total": {
        "n": 1000,
        "mean": 1495.86,
        "p10": 728.85,
        "p25": 970.2,
        "median": 1318.36,
        "p75": 1837.14,
        "p90": 2474.82
      }
    },
    "2": {
      "credits_counted_in_pick": {
        "n": 1000,
        "mean": 714.5,
        "p10": 725,
        "p25": 725,
        "median": 725,
        "p75": 725,
        "p90": 725
      },
      "rewards_minus_fees_of_pick": {
        "n": 1000,
        "mean": 1196.8,
        "p10": 242.06,
        "p25": 526.37,
        "median": 962.12,
        "p75": 1617.63,
        "p90": 2463.93
      },
      "year2_total": {
        "n": 1000,
        "mean": 1911.3,
        "p10": 914.52,
        "p25": 1238.77,
        "median": 1687.12,
        "p75": 2342.63,
        "p90": 3188.93
      }
    },
    "3": {
      "credits_counted_in_pick": {
        "n": 1000,
        "mean": 733.79,
        "p10": 725,
        "p25": 725,
        "median": 725,
        "p75": 725,
        "p90": 825
      },
      "rewards_minus_fees_of_pick": {
        "n": 1000,
        "mean": 1273.61,
        "p10": 228.05,
        "p25": 569.11,
        "median": 1044.46,
        "p75": 1727.76,
        "p90": 2612.12
      },
      "year2_total": {
        "n": 1000,
        "mean": 2007.4,
        "p10": 969.04,
        "p25": 1307.55,
        "median": 1773.79,
        "p75": 2466.38,
        "p90": 3337.12
      }
    },
    "4": {
      "credits_counted_in_pick": {
        "n": 1000,
        "mean": 823.27,
        "p10": 825,
        "p25": 825,
        "median": 825,
        "p75": 825,
        "p90": 825
      },
      "rewards_minus_fees_of_pick": {
        "n": 1000,
        "mean": 1207.78,
        "p10": 164.78,
        "p25": 499.57,
        "median": 971.59,
        "p75": 1666.25,
        "p90": 2542.88
      },
      "year2_total": {
        "n": 1000,
        "mean": 2031.05,
        "p10": 985.59,
        "p25": 1324.57,
        "median": 1796.59,
        "p75": 2491.25,
        "p90": 3367.88
      }
    }
  }
}