Avoid moving Chase Ultimate Rewards points to IHG, given the 60% boost. The transfer might not offer best value for your points.
Cashing in Your Chase Points: Whack it or Stack it?
Sarah Hostetler Gabrielle Bernardini Email
Navigating the world of rewards points can be a tricky business. If you're among the lucky ones with one of Chase's cobranded credit cards, like the Chase Sapphire Preferred Card, the Chase Sapphire Reserve, the Ink Business Preferred Credit Card, or the Chase Freedom Flex, congrats! You're sitting on a gold mine. But how do you make the most of those Chase Ultimate Rewards points? Let's dive in.
One of the best strategies is to take advantage of transfer bonuses, but tread carefully. Not all transfer bonuses are a wise move. In fact, some are downright dreadful. Yes, that's right - don't be tempted by a seemingly generous transfer ratio.
Case in point: You'll snag a whopping 60% bonus when you transfer your Chase Ultimate Rewards points to IHG One Rewards. And while that might sound like a no-brainer, let's reveal why it's not the best bang for your buck.
Say Hello to a 60% bonus when you transfer Chase Ultimate Rewards points to IHG
So, why do transfer bonuses sometimes fall flat? Simple: Not all points are created equal.
TPG valuations find that Chase Ultimate Rewards points are worth a cool 2.05 cents each. On the other hand, IHG One Rewards points clock in at a paltry 0.5 cents each. D'oh!
With the current offer, Chase will throw a 60% bonus when transferring Ultimate Rewards points to IHG. Transfers can be in increments of 1,000, so 1,000 Ultimate Rewards points would equal 1,600 IHG points. But here's the rub – that's like giving away $20.50 worth of Ultimate Rewards points to get just $8 worth of IHG points. Not a smart move.
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So, unless you absolutely need a few thousand more points for a particular award stay, this transfer doesn't make much sense.
Take, for example, the Holiday Inn Express Columbus - Ohio Expo Center. You can reserve the hotel for 24,000 IHG points (or by transferring a more modest 15,000 Chase points to IHG during this transfer bonus).
TPG valuations estimate 16,000 Chase points to be worth a robust $328. However, the cash rate for this same room is just $164 (excluding taxes and fees). In other words, even with this 60% bonus, the value you'll get for your Chase points is less than stellar.
Want to know more about booking travel strategically?When to transfer Ultimate Rewards and when to book directly*may shed some light.
In this scenario, you'll save 2,139 Chase points by forgoing the transfer bonus and booking the stay directly through the Chase travel portal. Chase points net a fixed rate of approximately 1.25 cents apiece when redeemed this way.
Even cashing out your points at a rate of 1 cent each would save you thousands of points over using the current transfer bonus.
Looking for more top-notch redemption strategies?Best Chase Ultimate Rewards sweet spots*may help you maximize your miles.
To sum it up
Are there any Chase Ultimate Rewards partners that are rarely a good transfer option – even with a healthy transfer bonus? Absolutely. IHG One Rewards is one of those partners.
To determine if a transfer bonus is a smart move, consult TPG's monthly valuations and do the math to see if the value you're getting is above or below the value of our average points.
But don't lose heart. Some transfer bonuses can be game-changers. Be sure to bookmark our transfer bonus page, which is updated regularly. We'll keep you in the loop when the next blockbuster offer drops.
Tasty Offers from our Pals
- Learn Moreabout The Business Platinum Card® from American ExpressSee rates & feesSpecial Limited-Time Offer: Earn 150,000 points + $500 statement credit*
- Learn Moreabout Chase Sapphire Reserve®See rates & feesExclusive Limited-Time Offer: 100,000 bonus points + $500 Chase TravelSM promo credit*
- Learn Moreabout The Platinum Card® from American ExpressSee rates & feesPremium Travel Rewards Card You Can't Ignore: As High As 175,000 points. Find Out Your Offer.
- Learn Moreabout Capital One Venture X BusinessSee rates & feesBest Business Card for Travelers: Earn 150,000 bonus miles*
- Learn Moreabout Capital One Venture X Rewards Credit CardSee rates & feesFlat-Rate Miles Card Frenzy: Earn 75,000 miles*
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- With the current offer, transferring Chase Ultimate Rewards points to IHG One Rewards results in a 60% bonus, but TPG valuations find that IHG One Rewards points are worth less than half the value of Chase Ultimate Rewards points.
- One should be wary of not all points being equal in value when considering transfer bonuses.
- Transferring 1,000 Ultimate Rewards points to IHG points during this offer provides 1,600 IHG points, but this is not a smart move, as it gives away about $20.50 worth of Ultimate Rewards points for only $8 worth of IHG points.
- Booking hotel stays directly through the Chase travel portal or cashing out points at a rate of 1 cent each can often save thousands of points compared to using transfer bonuses like the current offer with IHG.
- IHG One Rewards is one of the partners that is rarely a good transfer option, even with a healthy transfer bonus.
- Utilizing TPG's monthly valuations and doing the math can help determine if a transfer bonus is a smart move, ensuring the value received is above the average points value.
