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American Express launched a new transfer bonus a couple of days ago, offering a 50% bonus when transferring Membership Rewards to your Hilton Honors account. While it might make sense for some people to take advantage of this, for most it’s not a great use of Membership Rewards.
- Receive a 50% bonus when transferring American Express Membership Rewards to your Hilton Honors account (1,000:3,000)
- Expires April 14, 2020.
Membership Rewards usually transfer to Hilton Honors on a 1,000:2,000 basis, so with this 50% transfer bonus that becomes 1,000:3,000. That means, for example, an Amex Gold card effectively earns 12x Hilton Honors points on grocery store spend during this transfer bonus period – double the amount you’d earn by putting that spend on a Hilton Surpass card seeing as that earns 6x at grocery stores.
Having said that, I personally wouldn’t go that route seeing as your 4x earning potential is limited to $25,000 of spend per year at grocery stores on the Amex Gold card. You can also redeem Membership Rewards for much higher value with some airline transfer partners than you can get with Hilton.
While I’ve gotten 1.69cpp of value from Hilton Honors points in the past without even using the fifth night free benefit, you can often buy Hilton points for 0.5cpp. When looked at from that perspective, this transfer bonus is only worth 1.5cpp. That’s certainly not bad, but given how relatively easy it is to rack up (or buy) Hilton points normally, I’d much rather save my Membership Rewards for other redemptions.