Chase has just launched a promotion if you convert your Ultimate Rewards points into Marriott Bonvoy points. This is the third transfer bonus the program is offering at the moment, as you can also get a 30% bonus on transfers to Virgin Atlantic Flying Club (through November 12, 2022), and a 30% bonus on transfers to Air Canada Aeroplan (through November 30, 2022).
Chase offering 40% bonus on Marriott Bonvoy transfers
Chase is offering a 40% bonus when you transfer Ultimate Rewards points to Marriott Bonvoy between November 1 and December 20, 2022.
The bonus isn’t hard-coded into the transfer ratio, meaning that when you transfer Ultimate Rewards points you won’t see the bonus on the transfer page. Rather the bonus will be deposited by Marriott Bonvoy once your transfer is complete.
We’ve seen two similar transfer bonuses in the past year, though they were for a 50% bonus, rather than for a 40% bonus. So this one isn’t quite as good, and that’s not even accounting for the Bonvoy devaluation we’ve seen this year.
Why this promotion (probably) isn’t worth it
A 40% transfer bonus sounds like it could be valuable, though this isn’t a deal I’d recommend taking advantage of. Why? I value Marriott Bonvoy points at ~0.7 cents each, while I value Chase Ultimate Rewards points at ~1.7 cents each. Even when you’re getting 1.4 Marriott Bonvoy points per Ultimate Rewards point, you’re still only getting ~0.98 cents of value per Ultimate Rewards point, by my valuation.
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. Personally I value World of Hyatt points at more than twice as much as Marriott Bonvoy points, yet Chase Ultimate Rewards points ordinarily transfer to both currencies at a 1:1 ratio.
Now, in fairness, there are probably situations where you could technically get value with this transfer, in terms of the hotel stay being worth more than the value of the points transferred. However, there are probably more efficient ways to acquire those points:
- Marriott Bonvoy often sells points at a discount, and acquiring them that way is a better value, in my opinion
- Marriott has co-branded credit cards that could be better options for earning Bonvoy points
Historically Marriott Bonvoy has charged anywhere from 5,000 to 100,000 Bonvoy points per night for free night redemptions, but as of March 2022 we saw award charts eliminated, as dynamic award pricing was introduced. Award pricing for many properties has increased considerably.
Through December 20, 2022, you can receive a 40% bonus when you transfer Chase Ultimate Rewards points to Marriott Bonvoy. While it’s good to see Chase offer another transfer bonus, this isn’t one to get too excited about.
Personally I don’t think this offer is worth it. Marriott Bonvoy isn’t an efficient Chase Ultimate Rewards transfer partner, and I’d argue that applies even with a 40% bonus. I’d give this offer a “pass,” but I’m sure some will find this to be worthwhile.
What’s your take on this Chase transfer bonus to Marriott?