Chase Ultimate Rewards has just launched a new transfer bonus to IHG One Rewards. While it’s the best offer that we’ve ever seen to this transfer partner, it’s still not an offer I’d recommend taking advantage of.
In this post:
Chase offering 100% bonus on IHG points transfers
Between August 16 and September 4, 2025, you can receive a 100% bonus when you transfer Chase Ultimate Rewards points to IHG One Rewards.
Points ordinarily transfer at a 1,000:1,000 ratio, so with this offer, points transfer at a 1,000:2,000 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 100% bonus is the best offer we’ve seen on moving points between the two programs.
Why this promotion probably isn’t worth it
A 100% transfer bonus sounds like it could be valuable, and it’s actually the biggest percentage bonus I recall seeing from Chase to any partner. That being said, I still wouldn’t consider this to be a good deal under a vast majority of circumstances.
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 2.0 IHG One Rewards points per Ultimate Rewards point, you’re still only getting 1.0 cents of value per Ultimate Rewards point.
I certainly hope that most people are able to redeem their Chase Ultimate Rewards points for more than a penny each, since that’s a really low cash out value.
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 1.0 cents of value vs. paying cash.
Bottom line
Chase Ultimate Rewards is offering a new transfer bonus, as you can get a 100% 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?
It’s especially dumb to get just one cent of value with the transfer when you can redeem with Chase for 1.25 or 1.5 cents each, depending on whether you have the Preferred or Reserve card.
I just purchased 300K IHG points($1,500) via IHG's promotion (0.5c), partially to meet the spending requirement for Amex Platinum ($8K spending, 175K bonus), anyway IHG points generally provide quite good value in the Middle East where I live (even better value, combining the 4th night free options @ ICs). No point in transferring URs to IHG. Wish to see a UR to Marriott transfer bonus higher than 70% (or the same level, at least) soon.
...if only they'd do a promo with Hyatt for even a 20-50% bonus. >.>