Chase has launched a new transfer bonus that gives a 60% bonus when transferring Ultimate Rewards to IHG One Rewards. While that might sound good, for the vast majority of folks, this deal isn’t worth doing.
- Get a 60% bonus when transferring IHG One Rewards
- Expires March 1, 2024 at 11:59pm ET.
- Minimum Transfer is 1,000 points.
Don’t get me wrong – we love IHG One Rewards points and can’t get enough of them. But IHG sells their points for 0.5cpp approximately every other month. There’s therefore almost no reason to ever transfer points from Chase to IHG, even with a transfer bonus, because you’ll end up getting far less than 1cpp of value from your Ultimate Rewards.
If you were to transfer 20,000 Ultimate Rewards to IHG with this bonus, you’ll get 32,000 IHG One Rewards points. However, you could instead cash out those same 20,000 Ultimate Rewards for $200 and buy 40,000 IHG One Rewards points during when they’re offered at 0.5 cents each. That’s still not a great Ultimate Rewards redemption, since you’re only getting 1cpp of value from them, but it’s still better than transferring to IHG.
The only possible reason I can think of that you might want to take advantage of this transfer bonus is if you simply need 1,000-2,000 points for a redemption, because buying that small of an amount would cost you more than 1cpp, even during a sale. Otherwise, stay away.