Chase has just launched a promotion if you convert your Ultimate Rewards points into Marriott Bonvoy points.
Historically Ultimate Rewards has offered the fewest transfer bonuses of the major transferable points currencies. In 2020 we saw that change a bit, as we saw transfer bonuses to British Airways Executive Club, IHG Rewards Club, and Southwest Rapid Rewards. The bonus that has just been introduced is the first bonus we’ve seen from the program in 2021.
Chase offering 50% bonus on Marriott Bonvoy transfers
Chase is offering a 50% bonus when you transfer Ultimate Rewards points to Marriott Bonvoy between July 1 and August 31, 2021.
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.
Why this promotion (probably) isn’t worth it
A 50% 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 1.5 Marriott Bonvoy points per Ultimate Rewards point, you’re still only getting ~1.05 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 towards a travel purchase (and right now even at that rate towards groceries and dining, with Chase’s “Pay Yourself Back” feature). 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 transfered. 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
For context, here’s Marriott Bonvoy’s award chart, not factoring in the potential to get a fifth night free:
Through August 31, 2021, you can receive a 50% bonus when you transfer Chase Ultimate Rewards points to Marriott Bonvoy. While it’s good to see Chase offer its first transfer bonus of 2021, this isn’t one to get too excited about.
Marriott Bonvoy isn’t an efficient Chase Ultimate Rewards transfer partner, and I’d argue that applies even with a 50% 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?