Guide · advanced
Transfer bonuses, explained.
"Transfer to airline partners" is where the big point values live, and where the trap doors are. How transfers work, why bonuses exist, and when one is worth chasing.
The basic move
Three of the big bank-issued programs — Chase Ultimate Rewards, American Express Membership Rewards, and Capital One miles — let you move points out of their program and into an airline or hotel loyalty account at a fixed ratio (usually 1:1). Your 50,000 Amex points become 50,000 Delta SkyMiles, or 50,000 Marriott Bonvoy points, or 50,000 of whatever else they partner with.
Once they leave the bank program they can never come back. The transfer is permanent.
Why anyone bothers
The same 50,000 points might be worth:
- ~$500 as cash back inside the bank program (1¢/pt)
- ~$625 in the bank's travel portal (1.25¢/pt at Chase Sapphire Preferred)
- $700–$2,000+ for a specific award flight or hotel night, depending on the partner and the redemption
Transferring is how you reach the higher end. It's also how you reach the lower end if you transfer to the wrong partner.
Transfer bonus = a temporary uplift
A "transfer bonus" is a limited-time promotion where the bank uplifts the transfer ratio. Instead of 1:1, you might get 1:1.3 (a 30% bonus). 50,000 Amex points becomes 65,000 Air France/KLM Flying Blue miles. These typically run 2–6 weeks, are announced via the bank's site, and rotate through partners.
When a transfer bonus is worth chasing
- You have a specific award priced. "Two business-class seats to Tokyo in October" — you've looked up the partner's chart and confirmed availability on your dates.
- The bonus brings the per-point value above ~1.7¢. Below that, the bank's own travel portal is usually competitive without the lock-in risk.
- The partner has a track record of holding chart values. Some programs devalue annually; some are stable for years.
When to skip the bonus
- You don't have a specific award in mind — "I'll figure it out later" usually means devaluation hits first.
- The bonused partner has a history of dynamic pricing (Delta SkyMiles, United MileagePlus on many routes). Award costs can swing dramatically.
- You only need cash-equivalent value. Use the bank portal or statement credit; skip the transfer entirely.
The calculator doesn't model this
Our rewards calculator uses a single conservative point value per card — the lower bound of normal redemptions. Transfer bonuses are upside, not baseline. If you reliably hit transfer sweet spots, your real per-point value is higher than what the calculator shows; this is intentional, so the tool never over-promises.
Read next
- What are credit card points worth?
- How to pick a credit card for your spending
- Travel card calculator
Disclaimer: figures are illustrative estimates. This is not financial advice. Verify program rules with the issuer and partner before transferring any points.