Chase Ultimate Rewards is at it again as they just launched a transfer bonus to British Airways, Aer Lingus, and Iberia, but you only have a month to take advantage of it.
Chase isn’t particularly known for points transfers as this is only the fourth bonus we’ve ever seen. Previous bonuses include:
- Southwest Airlines – 20% bonus (October 2020)
- IHG – 60% bonus (August 2020)
- British Airways – 30% bonus (April 2019)
Ultimately, seeing another transfer bonus is exciting because if you’re planning to transfer points for a specific redemption, you’re receiving a discount on the amount of redeemed points. Additionally, it opens the doors for more bonuses to take place in the future. So, let’s take a look at the details.
30% TRANSFER BONUS
Chase Ultimate Rewards is offering a limited-time 30% bonus when you transfer your points to British Airways through 9 December 2020 (inclusive)…
…a 30% bonus when you transfer your points to Aer Lingus through 9 December 2020 (inclusive)…
…and a 30% bonus when you transfer your points to Iberia Plus through 9 December 2020 (inclusive)…
IS THIS A GOOD DEAL?
This offer has the potential to be a good deal in normal times, but I would venture to say that 2020 is not “normal times.” 2021 could be better but a lot can change between now and then.
It’s also important to note that, British Airways has a distance based award chart, therefore the longer you fly (in distance), the more miles you’ll have to redeem.
The “sweet spot” is found in short distances. I’ve written about one “sweet spot” HERE and a reader success story using that advice HERE, just to name a few.
Recognizing that many Chase cards such as the Chase Sapphire Reserve Card and the Chase Sapphire Preferred Card are offering additional bonus points in certain categories, there is a unique opportunity to double up (i.e. more points and a discount).
As always, I advise against transferring points without a rather immediate redemption in mind. Your points are much more valuable as a transferrable currency (e.g. Chase UR, Amex MR, Citi TY, etc) than sitting in an airline or hotel loyalty program. Once you transfer the points to a loyalty program they are stuck there and in these turbulent times, who knows what tomorrow holds!?
Chase Ultimate Rewards has launched a transfer bonus to British Airways, Aer Lingus, and Iberia, but you only have a month to take advantage of it.
It’s worth noting you will not see the transfer bonus calculated into the transfer ratio. In other words, the amount of points transferred will appear immediately in your (say, British Airways) account but the actual transfer bonus (the 30% in this case) will be delayed by a day or so.
Personally, ever since Chase announced their first transfer bonus last year – something other banks have been doing for a long time – I’ve been waiting to see a transfer bonus to Hyatt as that is a “sweetspot.”
Regardless, this is a good deal but not phenomenal. If you have a redemption in mind and were planning to transfer points to British Airways, Aer Lingus, or Iberia anyway, definitely take advantage of this discount.
Are you planning to take advantage of the transfer bonus?
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