Current credit card transfer bonuses (May): Get more from your rewards – The Points Guy

Current credit card transfer bonuses (May): Get more from your rewards – The Points Guy

If you truly want to maximize your points and miles, periodic transfer bonuses can offer lucrative opportunities for fantastic award redemptions. You can sometimes get significantly more value from your rewards by transferring them to a specific airline or hotel partner during one of these bonuses.

However, these are limited-time offers.

We’ve compiled the transfer bonuses for the major programs with transferable rewards to make tracking these offers easier. Just note that transfer bonuses are sometimes targeted, so some may not be available to you.

Amex Membership Rewards transfer bonus

Hilton San Diego Bayfront. HILTON

American Express has three active transfer bonuses right now.

First, Amex rolled out a new transfer bonus in April. You can transfer your American Express Membership Rewards points to Virgin Atlantic Flying Club with a 30% transfer bonus from now through May 31.

Since you can typically transfer Amex Membership Rewards to Virgin Atlantic at a 1:1 ratio, this transfer bonus raises the value of 1,000 Membership Rewards points to 1,300 Virgin points.

Additionally, the issuer is offering a 20% transfer bonus to Aeromexico Rewards through the month of May.

Membership Rewards normally transfer to Aeromexico at a 1:1.6 ratio, so the 20% boost raises that to a 1:1.92. The offer makes it so 1,000 Membership Rewards points are equivalent to 1,920 Aeromexico Rewards points.

The latest offer is a 40% transfer bonus to the Hilton Honors loyalty program, specifically for those with The Platinum Card® from American Express as part of the card’s 40th anniversary.

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Related: Amex Platinum’s 40th anniversary: Save big with offers from Sephora, Delta and Hertz

Amex Membership Rewards typically transfer to Hilton at a 1:2 ratio, so with the 40% bonus, you can trade in 1,000 Amex points for 2,800 Hilton Honors points. This may seem like a great deal, but keep in mind that TPG values Hilton points at only 0.6 cents each, while Amex points are valued at 2 cents each. With these valuations, 1,000 Amex points are worth $20 while the resulting 2,800 Hilton points are only worth about $16.

Partner program Transfer bonus Effective transfer ratio Dates
Virgin Atlantic Flying Club 30% 1:1.3 Until May 31
Aeromexico Rewards 20% 1:1.92 Until May 31
Hilton Honors 40% 1:2.8 Until May 31

How to earn American Express Membership Rewards points

You’ll need Membership Rewards points to maximize Amex transfer bonuses. If you’re looking to earn some of these valuable points, the following Amex cards could be useful additions to your wallet:

Check the CardMatch tool to see if you’re targeted for an even higher welcome offer (subject to change at any time).

You can also earn extra Membership Rewards points when you enroll in Amex Offers and shop with Rakuten.

Based on TPG’s valuations, Membership Rewards points are worth 2 cents each, and our tests indicate that they transfer instantly to most of Amex’s transfer partners.

Related: How to redeem American Express Membership Rewards for maximum value

Chase Ultimate Rewards transfer bonus


You can currently transfer Chase Ultimate Rewards points to Virgin Atlantic Flying Club and Marriott Bonvoy with a bonus.

Chase is offering a 30% bonus when you transfer to Virgin Atlantic Flying Club. Since Ultimate Rewards points typically transfer to Virgin Atlantic at a 1:1 ratio, this bonus means that 1,000 Ultimate Rewards points would turn into 1,300 Virgin points.

You can also get a 40% bonus if you transfer Ultimate Rewards points to Marriott Bonvoy. Ultimate Rewards points usually transfer to Marriott at a 1:1 ratio, so 1,000 Chase points will convert into 1,400 Marriott points with this bonus. TPG values Chase Ultimate Rewards points at 2.05 cents each, much higher than Marriott Bonvoy points (0.85 cents each) — meaning 1,000 Chase points are worth roughly $20 while 1,400 Marriott Bonvoy points are worth closer to $12.

Both of these Chase Ultimate Rewards transfer bonuses expire June 15.

Partner program Transfer bonus Effective transfer ratio Dates
Virgin Atlantic Flying Club 30% 1:1.3 Until June 15
Marriott Bonvoy 40% 1:1.4 Until June 15

How to earn Chase Ultimate Rewards points

If you want to earn more Chase Ultimate Rewards points, the following Chase cards could make good additions to your wallet:

If you have one (or more) of the above cards, you can combine your Ultimate Rewards points in a single account. Then, you can effectively convert the cash-back earnings on the following cards into fully transferable Ultimate Rewards points:

  • Chase Freedom Flex℠: Earn $200 cash back after spending $500 on purchases in the first three months of account opening.
  • Chase Freedom Unlimited®: Earn an additional 1.5% cash back on everything you buy in the first year (on up to $20,000 spent), worth up to $300 cash back.
  • Ink Business Cash® Credit Card: Earn up to $750 bonus cash back: $350 after you spend $3,000 on purchases in the first three months, and an additional $400 when you spend $6,000 on purchases in the first six months from account opening.
  • Ink Business Unlimited® Credit Card: Earn $750 bonus cash back after you spend $6,000 on purchases in the first three months from account opening.

According to TPG’s valuations, Chase Ultimate Rewards points are worth 2.05 cents each when maximized with travel partners. Most Ultimate Rewards transfers will process instantly.

Related: How to redeem Chase Ultimate Rewards points for maximum value

Capital One miles transfer bonus

Capital One does not currently have any active transfer bonuses.

How to earn Capital One miles

For future transfer bonuses, the following Capital One cards are good options to consider:

TPG’s valuations peg Capital One miles at 1.85 cents each, and most transfers from Capital One will process instantly.

For more details, check out our guides to the Capital One transfer partners and how to transfer Capital One miles to airline partners.

Citi ThankYou Rewards transfer bonus

Citi is only offering one transfer bonus right now. You can convert ThankYou points to Accor Live Limitless (ALL) with a 50% transfer bonus through May 11. The transfer ratio is usually 2:1, so this raises the effective rate to 2:1.5. This means 1,000 Citi points become 750 ALL reward points.

Just bear in mind that Accor’s program is revenue-based, where 2,000 points will get you 40 euros off your hotel stay at eligible brands ($43.09 at current exchange rates). You’d need to transfer 3,000 Citi points for that redemption threshold, worth $54 based on TPG’s valuations.

Partner program Transfer bonus Effective transfer ratio Dates
Accor Live Limitless 50% 2:1.5 Until May 11

How to earn Citi ThankYou Rewards points

These Citi credit cards could make useful additions to your wallet for earning Citi ThankYou Rewards points:

Based on TPG’s valuations, Citi ThankYou Rewards points are worth about 1.8 cents each. However, note that some Citi transfers will not process instantly, so be sure to factor in the transfer time if you’re trying to book an award with scarce availability.

Marriott Bonvoy transfer bonus


Marriott Bonvoy is not running any transfer bonuses at this time.

How to earn Marriott Bonvoy points

If you’re looking to earn more Marriott Bonvoy points, the following Marriott Bonvoy cards may be of interest:

Per TPG’s valuations, Marriott Bonvoy points are worth 0.85 cents each. Before transferring points, review our tests of Marriott transfer times since some airlines take a few days (or even weeks) to receive the points.

Related: Marriott Bonvoy program: How to redeem points for hotel stays, airfare and more

Should you transfer points?

We only recommend transferring points or miles if you have a short-term plan to use them. Many programs have implemented devaluations over the last few years, so any speculative transfers could be a losing proposition.

Transfers are irreversible, and you don’t want to be stuck with thousands of points or miles in a program you have little use for.

If you don’t have a specific redemption in mind but still want to earn points or miles, you’re likely better off earning rewards through credit card welcome bonuses and everyday spending.

Bottom line

When a program with a transferable currency offers a transfer bonus, running the numbers is important to see whether it is worthwhile.

Generally, you won’t want to transfer your points or miles without a specific redemption in mind. After all, a large part of the value of transferable points and miles comes from their flexibility — which you’ll give up the moment you convert them to a partner’s currency. However, a transfer bonus can help you get more value from your points and miles if you use a partner program frequently or plan to redeem soon.

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