They are worth one cent when redeemed for statement credits for travel purchases charged to the credit card, making the 50,000 miles worth one penny each. (lendedu.com)
When used as statement credits for travel expenses, these 50,000 points have a value of $ 500. (valuepenguin.com)
For example, if you can get $ 500 in travel statement credit in exchange for 50,000 points, your point value is $ 500 / 50,000 = $ 0.01. (valuepenguin.com)