Transfer Chase Points To IHG With 70% Bonus

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Chase Ultimate Rewards has just launched a new transfer bonus to IHG One Rewards, though it’s not an offer I’d recommend taking advantage of. Personally I think the 20-30% transfer bonus to Air Canada Aeroplan and the 20% transfer bonus to Air France-KLM Flying Blue are more compelling.

In this post:

Chase offering 70% bonus on IHG transfers

Between Wednesday, December 4, 2024, and Wednesday, January 15, 2025, you can receive a 70% bonus when you transfer Chase Ultimate Rewards points to IHG One Rewards.

Transfer Chase points to IHG with a 70% bonus

Points ordinarily transfer at a 1,000:1,000 ratio, so with this offer, points transfer at a 1,000:1,700 ratio. You can take advantage of this an unlimited number of times. Transfers from Chase Ultimate Rewards to IHG One Rewards are typically instant.

For context, we typically see a transfer bonus from Chase to IHG twice per year, and so far the bonuses have been in the range of 50% to 80%. So this is in line with the typical offers we see between the two programs.

Chase is offering a 70% bonus on points transfers to IHG

Why this promotion isn’t worth it

A 70% transfer bonus sounds like it could be valuable, though this isn’t a good deal. It’s not often I make an absolute recommendation, since usually I’d say “it depends on your situation.” However, this is a case where I’ll say that just about no one should take advantage of this promotion.

Why? I value IHG One Rewards points at 0.5 cents each, while I value Chase Ultimate Rewards points at ~1.7 cents each. Even when you’re getting 1.7 IHG One Rewards points per Ultimate Rewards point, you’re still only getting 0.85 cents of value per Ultimate Rewards point.

At a minimum, you can redeem Ultimate Rewards points for 1.25-1.5 cents each toward a travel purchase through the Chase Travel Portal.

Even if you value IHG One Rewards points more than I do, the reality is that IHG frequently sells points for 0.5 cents each, so I would instead buy points at that rate. It would be silly to redeem Ultimate Rewards points when you’re only getting 0.85 cents of value vs. paying cash.

Ultimate Rewards points are too valuable to transfer to IHG

The best credit card for earning IHG points

If you’re looking to earn IHG One Rewards points, I’d highly recommend applying for the IHG One Rewards Premier Credit Card (review) and IHG One Rewards Premier Business Credit Card (review). Both cards have great welcome bonuses and offer lots of great perks that make the cards worth holding onto, like an anniversary free night award, a fourth night free on award redemptions, and more.

The IHG Premier Card offers an anniversary free night certificate

Bottom line

Chase Ultimate Rewards is offering a new transfer bonus, as you can get a 70% bonus when you transfer points to IHG One Rewards. While I’m always happy to see a transfer bonus, I’m afraid that this simply isn’t worth it under virtually all circumstances.

Transfers to all of Chase’s partners are typically at a 1:1 ratio. While the simplicity of that is nice, the reality is that points have significantly different values, and this creates a few partners that I would never recommend transferring Chase points to.

Anyone have a different take, and see a reason to transfer Chase points to IHG?

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