The best ways to maximize and stretch your miles further is to ensure you are primarily collecting points in a transferable bank points program – like AMEX Membership Rewards, Chase Ultimate Rewards, etc. – this is because when it comes time to book your trip, you can select an airline with the best availability and schedule that works for you. In most cases, you can usually transfer your points instantly to most airlines and hotels, so you’re able to book that flight right away.
What is a Points Transfer Bonus?
Almost every month select bank programs offer transfer bonuses when moving your points from a bank program to an airline or hotel program. These bonuses are offered by the banks and the redemption rate is temporarily changed to account for the bonus.
For example, if there is a 30% transfer bonus from American Express Membership Rewards to Air Canada Aeroplan, the ratio will be temporarily changed from 1:1 to 1:1 + 30%. So instead of 1,000 AMEX points converting to 1,000 Aeroplan miles, they would show up in your Aeroplan account as 1,300 miles.
Most transfer bonuses only last for a month, though in some cases they are known to have been extended or last a bit longer.
Usually when there is a transfer bonus with a transferable bank points program, the bonus is offered to everyone. However, lately, there have been more and more targeted transfer bonuses and therefore it is important that you check your accounts every month – as a surprise could be waiting for you.
Why Do Transfer Bonuses Matter?
Transfer bonuses are very important because they help you get more value from your points – you are essentially getting more miles in an airline account for free. If you are converting a smaller amount, it may not make that much of a difference. However, if you are converting a larger amount of points, you could potentially save a ton of points/miles.
When you transfer points from a bank program to an airline or hotel, they cannot be transferred back.
Should You Speculatively Transfer Points to Airlines?
If there is a transfer bonus to a specific airline but you don’t have any flights in mind yet, should you convert your points speculatively just because there is a bonus? It depends.
It depends on a number of factors including how many points are you converting, how often do you use that frequent flyer program, does that program have a history of devaluing constantly, etc. There’s no right or wrong answer, but it depends on your travel plans and if you see yourself using those points in the near future.
If you do not think you will use those miles after conversion to an airline within the next six months, I would say to not transfer because these bonuses show up frequently so chances are the same bonus is available a couple of times per year.
Points Transfer Bonuses: December 2023
Happy December! I can’t believe how quickly the year has gone by – it seems like 2023 just started. Since it is a new month, the clock resets on some miles and points items, and one of those is transfer bonuses.
The current available transfer bonuses for December 2023 are:
- AMEX Membership Rewards -> Singapore Airlines: 20% bonus (targeted)
- AMEX Membership Rewards -> Virgin Atlantic: 30% bonus
- AMEX Membership Rewards -> Hilton: 30% bonus (targeted)
- Chase Ultimate Rewards -> jetBlue: 25% bonus
Remember that some of those are targeted transfer bonuses, so you may not see them in your accounts. However, that also means that you could potentially see a transfer bonus that may not be available to others, if you are targeted. Always check your accounts each month!
All in All
I transfer my points quite a bit as you can imagine, but this December I won’t be participating as I don’t have any future travel plans that I need to book. I have the first few months of the year planned out and flights have been secured – I don’t like planning more than 3 months in advance as life changes constantly and therefore I don’t need to take advantage of transfer bonuses this time.
Remember to check award availability first before you do a transfer and always have back-up flight options should your award get booked up by the time the points show up. Some airlines allow you to put an award on hold, which is always welcome as then you are more or less guaranteed space on that flight. Have a look at your accounts and use this opportunity to plan out your future flights.