Miles earned in the United MileagePlus program are worth approximately 1.2 cents each, although the value you actually get will depend on how you redeem them.

You cannot directly "cash out" United MileagePlus miles for U.S. dollars into a bank account. However, in 2026, United offers several ways to use miles as a "cash equivalent." You can use miles to pay for United TravelBank cash, which can then be used to purchase flights, effectively giving the miles a monetary value (though usually at a lower rate than booking an award flight). You can also use miles to pay for annual fees on certain United Chase credit cards or to "buy down" the cost of a ticket using the "Money + Miles" feature during checkout, which applies a dollar-off discount based on the number of miles you spend. Additionally, miles can be used for gift cards or shopping via the United "MileagePlus Updates" portal, but these redemptions typically offer a poor "cents-per-mile" value. For the best financial return, miles should be used for high-value international business class flights rather than trying to convert them into a dollar-denominated balance.