The American Express Membership Rewards program has just launched a new points transfer bonus, which is one we’ve seen several times in the past. It’s not an offer I get too excited about, but maybe others will feel differently.
In this post:
Transfer Amex points to Hilton Honors with 20% bonus
Between April 28 and May 30, 2026, the Amex Membership Rewards program in the United States is offering a 20% bonus when you transfer points to Hilton Honors.
Points ordinarily transfer between the programs at a 1:2 ratio, meaning that during this promotion, points transfer at a 1:2.4 ratio. In other words, you get 2,400 Hilton Honors points for every 1,000 Amex Membership Rewards points transferred.
There are lots of great credit cards in the United States that earn Amex Membership Rewards points. When it comes to transferring Amex points, you can expect that conversions to Hilton Honors are typically instant. Make sure that you see the bonus at the time that you make the transfer, as it should be reflected before you confirm it.
On average we see a few transfer bonuses every year from Amex Membership Rewards to Hilton Honors. The bonuses are typically 20-40%, so this is on the low end of those bonuses. But still, any bonus is better than no bonus.
Should you transfer Amex points to Hilton with a bonus?
Personally I value Amex points at ~1.7 cents each, while I value Hilton Honors points at ~0.5 cents each. Based on my valuation of points and the 1:2.4 transfer ratio, you’re getting about 1.2 cents of value per Amex point. While not the most exciting offer, it’s also not bad, and for many it could prove to be worthwhile.
It’s worth noting that my valuation of points is intended to be conservative, and there are always ways to get hugely outsized value by using points properly. Just make sure you have a specific use in mind. Hilton does often sell points for 0.5 cents each, and I’ve written about some of the best ways to redeem Hilton Honors points.
Still, it’s not a way that I’d choose to redeem my Amex points, especially with all the Hilton Honors devaluations we’ve seen over time, and top properties now charging up to 250,000 points for a standard room.
Bottom line
For a limited time, the Amex Membership Rewards program is offering a 20% bonus when transferring points to Hilton Honors, meaning the transfer ratio is 1:2.4. This has the potential to be a good deal with a specific use in mind, though personally I’d rather acquire Hilton points in other ways, and save my Amex points for something else.
Do you plan on transferring Amex points to Hilton with a 20% bonus?
Worth it? Only if you need to top-off, or have a major redemption already planned that is well worth it, say, over 2-3 cents per point. Thankfully, Amex already does 1:2 for Hilton; but, Hilton points are worth closer to 0.5 cpp at breakeven, so even this doesn't really make for a 'great' deal. Think of it as 1.2 cents per point with the 20% bonus. I think you can do better with other Amex transfers elsewhere.
Please end your life already.
@John (or anyone who remembers OMAAT before the comment section turned into what it is today) — a quick PSA.
A few minutes with your LLM of choice is all it takes to vibe-code a client-side block script. The right tool is a browser userscript: it runs whenever a blog page loads and overwrites comments from anyone on a blocklist you maintain, locally, before you ever see them. On my end, the screeds and word...
@John (or anyone who remembers OMAAT before the comment section turned into what it is today) — a quick PSA.
A few minutes with your LLM of choice is all it takes to vibe-code a client-side block script. The right tool is a browser userscript: it runs whenever a blog page loads and overwrites comments from anyone on a blocklist you maintain, locally, before you ever see them. On my end, the screeds and word graffiti from the usual suspects now just read "Clownboat comment removed."
Install Tampermonkey (Chrome/Edge/Safari) or Violentmonkey (Firefox), paste in the script, and that's it.
@1969 - lol you’d have to block the entire AmLaw 100 if you want to stop hearing from me. And what if I wake up one day and decide private equity is my industry of choice? Carried interest, baby!
Hilton points are demonstrably worth 0.4 or less. Your analysis is however completely correct
Hilton sucks so bad even DCS stopped going to bat for them.
In addition, the Pennyweight (Curio) hotel in Boston cheats guests and sucks ass.