Card Stack Optimizer

Business class to Japan with points: a worked example

Last updated: October 2, 2026 Card terms checked: September 2026

Two business-class round trips from Los Angeles to Tokyo on ANA can cost $12,000 or more at published fares. A hypothetical household that earns about 238,200 points in one year from the stack on the 3-card stack page has enough to cover both flights through Virgin Atlantic Flying Club, with roughly $1,000 to $1,600 in fees and surcharges. Hotels are a different story.

This is a worked example for a hypothetical household. No trip is claimed, and your numbers will differ. Award space, prices, and fees change, and transfers cannot be undone.

What the trip costs in cash

Item Published fare Sale fare Strong sale
ANA business, Los Angeles to Tokyo round trip, per person about $6,500 about $3,000 about $2,500
Two travelers about $13,000 about $6,000 about $5,000

The $12,000 figure in the headline is the published-fare case for two travelers. Sale fares cut it by half or more, which matters for the value math below.

Where the points come from

Year one of the 3-card stack, welcome offers included:

Source Program Points Note
Amex Gold welcome offer (example) Amex Membership Rewards 60,000 Offers vary by applicant; verify yours
Amex Gold: dining and groceries at 4x Amex Membership Rewards 67,200 $16,800 a year of spending
Chase Sapphire Preferred welcome offer Chase Ultimate Rewards 75,000 After $5,000 in 3 months; verify
Sapphire Preferred: travel 2x and gas 3x Chase Ultimate Rewards 36,000 $16,800 a year of spending
Year one total Amex and Chase 238,200 127,200 Amex points plus 111,000 Chase points

The sweet spot, and the real math

Virgin Atlantic prices ANA business class at 52,500 points each way from the western U.S. (60,000 from the central and eastern U.S.). A round trip is 105,000 points per person, and both Amex and Chase transfer to Virgin Atlantic at 1:1. Fees are real: roughly $250 to $400 per person each way in reported examples.

The value of each point depends entirely on what the same seat would cost in cash:

Cash price (per person, round trip) Minus fees Divided by points Value per point
$6,500 (published fare) -$650 105,000 about 5.6 cents
$3,000 (sale fare) -$650 105,000 about 2.2 cents
$2,500 (strong sale) -$650 105,000 about 1.8 cents

Price the cash fare first. A redemption that beats a strong sale fare at 1.8 cents is still good, but a published fare of $6,500 is what makes 5.6 cents possible. See what a point is worth.

How the booking works

The order matters, because a transfer cannot be reversed:

  1. Find award space on the dates you want.
  2. Call Virgin Atlantic and confirm the booking is available at that price.
  3. Only then transfer the points from the bank program.

Both bank programs transfer to Virgin Atlantic at 1:1. See how transfer partners work for the general rules and the five checks to run before any transfer.

The trip total

Line item Points Cash out of pocket Cash value replaced
Two ANA business round trips, Los Angeles to Tokyo 210,000 Virgin Atlantic about $1,000 to $1,600 in fees $12,000 or more at published fares
Hotels Not included Paid separately n/a
Points left over 22,200 Amex plus 6,000 Chase n/a Banked for later

The hotels, where the math gets worse

Hotels got harder in 2026. Hyatt's new award pricing and Chase's 4:3 transfer rate from the Sapphire Preferred both reduce what a Chase point buys at Hyatt. Hotel stays are often better paid in cash, with points kept for flights. See hotel points vs airline miles.

What can go wrong

  • No award space. Business-class seats on ANA can be scarce, and you only learn that before transferring if you check first.
  • Surcharges larger than expected. Fees vary and are charged by the operating airline.
  • Rules and prices change. Award charts and transfer ratios are set by the programs and can change without notice.
  • Spending to earn the points. The 238,200 figure counts only normal spending of $5,100 a month, paid in full. Spending more or carrying a balance defeats the purpose.

Before planning any points trip, find out how many points your own spending earns. The free rewards calculator shows your current rewards at cash value and travel value.

Cards mentioned

Sources

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