You look at your credit card statement. 85,000 points. Feels like a lot. Maybe a free trip to Europe? Then you check the flight price: 85,000 points for a $350 ticket. That’s 0.4 cents per point. A hotel costs 50,000 points for a $120 room. That’s 0.24 cents. You just got wrecked by bad math. Most travelers never calculate what their points are actually worth. They just burn them on whatever looks shiny. This article shows you the exact formula, which programs give you real value, and when to walk away from a redemption. What Your Points Are Actually Worth…