Current Transfer Bonuses: Let Your Points & Miles Take You Further

Got a stash of transferable points but find yourself still shy of that dream getaway? Don't write it off just yet.

Banks like American Express, Capital One, and Chase routinely roll out bonuses when transferring points to a specific airline or hotel partner, meaning you don't have to transfer as many points as you normally need to book an award flight. Think of these transfer bonuses as a way to get free miles.

Just how good of a transfer bonus you'll get will vary from bank to bank and program to program, but you can generally expect to see bonuses in the range of 10% to 40% – sometimes even more. They're typically offered for a limited time, and it can be tough to keep track of them all, especially if you have transferrable points with multiple credit card companies.

Here are all the current transfer bonuses available as of publication, broken down by bank.

Wondering why you should transfer your points? Read up on how it can help you book flights for less!

Taking advantage of these transfer bonuses can be critical to getting even more value out of your points. But there are a few things you'll want to keep in mind before rushing to transfer your points.

Here's the most important one: These transfers are a one-way street. Once you send the points to an airline partner, you cannot get them back to your Capital One, Chase, or other credit card account. That means you'll generally want to have a redemption in mind (and make sure the flights you want are actually available to book) before transferring your points.

Time and time again, we've seen loyalty programs devalue their points by raising award rates with little to no warning. The best way to safeguard against these sudden devaluations is to keep your points safe (and flexible) in your bank account until you're ready to use them.

Read next: When Does it Make Sense to Speculatively Transfer Your Points?

And keep in mind that you'll still have to pay taxes and fees on when booking an award ticket. For some airlines, those fees are negligible. But others charge much more when booking award flights with points and miles – especially if you're flying business or first class with your miles.

Let's take a closer look at each of the current transfer bonuses and how you might want (or not want) to use them.

See our master list of credit card transfer partners! 

20% Bonus on Chase Transfers to Aeroplan

Chase recently rolled out a 20% bonus when transferring Chase Ultimate Rewards points to your Air Canada Aeroplan account. This bonus is widely available so long as you've got a card that earns Chase Ultimate Rewards points like the *chase sapphire preferred* or *chase sapphire reserve*. It's available through July 31, 2024.

Aeroplan is one of the best mileage programs on the planet – and not just to fly Air Canada. You can use it to book cheap United award tickets for domestic flights, business class flights to Europe from 60,000 miles each way or to Asia as low as 55,000 miles one-way.

Factor in that 20% transfer bonus and you can score a business class flight to Europe for as few as just 50,000 Chase points.

Read our guide to booking award flights through Air Canada Aeroplan! 

If Hawaii has been on your radar, you're in luck. Due to Aeroplan's distance-based pricing model, you'll want to start from the West Coast where flights are shorter. Your best bet is looking for flights from Los Angeles (LAX) or San Francisco (SFO) flying United Airlines.

You can book a one-way flight for just 12,500 miles in economy – roughly half of what United itself would normally charge. Factor in this transfer bonus, and you can book roundtrip flights to Hawaii using just 21,000 Chase points.

Got an *aeroplan card* in your wallet, too? It gets even better: So long as you transfer at least 50,000 Chase points, Aeroplan will tack on an extra 10% bonus for Aeroplan cardholders (a maximum of 25,000 bonus points each year). That means a 50,000-point transfer would net you a total of 65,000 Aeroplan points!

Check out this story for full details on this transfer bonus!

80% Bonus on Chase Transfers to IHG One Rewards

Chase is currently offering an 80% transfer bonus when moving Ultimate Rewards points to the IHG One Rewards program. It's easy to see a 80% bonus and get excited, but be warned that not all points are created equal and this is especially true with IHG.

There are very few situations where transferring points to IHG will make sense – even with a 80% transfer bonus. Considering IHG frequently sells points with a 100% bonus, you'd even be better off cashing out your Chase Ultimate Rewards at one cent per point and then using that to buy IHG points.

Still, if you have a particular hotel in mind and need to top off your account with a few extra points in order to make it a reality, transferring Ultimate Rewards to IHG with an 80% bonus is better than nothing. Just be sure to make your transfer before this bonus expires on July 31!

Read more: When Does It Make Sense to Buy Hotel Points?

15% Bonus on Citi Transfers to Cathay Pacific

Citi recently rolled out a new 15% bonus on transfers to Cathay Pacific Asia Miles – an underrated program for flights to Asia, South America, or even domestically with American Airlines. It runs through July 20, so you have a few days left to make use of this bonus.

After an extended dry spell, we've seen Cathay Pacific start to loosen the reigns on award availability to its hub in Hong Kong (HKG) and other parts of Asia. 

With one-way economy awards from U.S. cities like San Francisco (SFO) to Hong Kong costing just 27,000 Asia Miles and $150 in taxes and fees, this can be an excellent option for travelers crossing the Pacific. 

With this bonus, you'd only need to transfer 24,000 Citi ThankYou points to book this flight. 

Or if you're feeling fancy, you could book business class for 84,000 Asia Miles and the same $150 in taxes and fees, one-way. That price is again made cheaper with this transfer bonus as you'd only need 74,000 ThankYou points to book. 

That's a pretty nice deal for 15 hours in lie-flat luxury, complete with champagne and multi-course meals. 

Bottom Line

Transfer bonuses can be a great way to get more value from your points and help you realize your dream vacation even sooner. These bonuses are constantly coming and going, so it's important to stay up-to-date on the current promotions before moving your points to ensure you're not leaving any free points on the table.

But it's always best to keep your points flexible until you're ready to book. Due to constant loyalty program devaluations, transferring points without an immediate plan to use them will rarely be a good option.