If you have an American Express Membership Rewards credit card, British Airways is offering a 20% transfer bonus at the moment. I’m not sure if this is for anyone with a Membership Rewards card or just Platinum and Centurion members, but it will show up on your Membership Rewards online page if you’re eligible.
This isn’t really a reason to just transfer points without a specific goal, but this is a great time to top off an account for those of you that got the British Airways credit card with the 100,000 mile welcmoe offer last year. In some cases it even might make sense to transfer even if you don’t already have a sizable balance. British Airways has decent redemption rates if you stick to just one partner. For example, flying Cathay Pacific business class from the US to Asia with a stopover in Hong Kong is 100,000 miles, so take 20% off of that, and you’re looking at a pretty good deal.