Chase Ultimate Rewards has just launched its latest transfer bonus, though this isn’t a promotion I’d necessarily recommend taking advantage of.
In this post:
Chase offering 50% bonus on Marriott Bonvoy transfers
Chase is offering a 50% bonus when you transfer Ultimate Rewards points to Marriott Bonvoy between August 1 and September 30, 2023.
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 three similar transfer bonuses in the past year or so, ranging from a bonus of 40-50%. So this is in line with the best transfer bonuses we see between the two programs.
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 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 situations where you could 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
Keep in mind that nowadays Marriott Bonvoy has dynamic award pricing, so there’s no maximum for the number of points hotels can charge for award stays. Nonetheless there are still good uses of Marriott Bonvoy points.
Bottom line
Through September 30, 2023, you can receive a 50% 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 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?
Chase, Amex, Citi & Capital One points transfer to airlines at 1:1 ratio, while Marriott transfers at 3:1 ratio. In other words, a 200% transfer bonus to Marriott would bring it on par with the other transferable currencies and maybe worth considering. Anything less than that is just you being Bonvoyed.
Marriot is still the only transfer partner to Korean Air's SkyPass program. This could make sense if you have a particular award in mind.
On the one hand, agree with Jessie. I think you have to use a "cash saved" or other metric when evaluating this transfer bonus instead of a standard valuation for hotel points, which are often too low IMO. If you can get more than 1 cent per Marriott point, which is very easy, this transfer makes sense, especially if you are topping off an account and are doing five nights. I used this last fall...
On the one hand, agree with Jessie. I think you have to use a "cash saved" or other metric when evaluating this transfer bonus instead of a standard valuation for hotel points, which are often too low IMO. If you can get more than 1 cent per Marriott point, which is very easy, this transfer makes sense, especially if you are topping off an account and are doing five nights. I used this last fall to book Maui at a huge discount.
On the other hand, I just redeemed Hyatt points for Hyatt Big Sur at a face value of 3.5 cents per point; that kind of redemption (which you could save your UR points) is more valuable than using this promotion.
I would use this promotion selectively if I had a use in mind
You're right, for example, a brand-new Hyatt regency on the seaside of Turkey only costs 6500 pts for about 200 euros(after tax) per night this summer. But as I have an elite status with Marriott but no status with Hyatt, I would still choose a (similar quality) Marriott property in the same city.
It depends, for example, this summer I am redeeming 42,000 Marriot pts for 700 euros per night at a Luxury collection Beach & Spa property. Also for a St regis in the City hotel, I am redeeming 45000-52000 pts for 600-700 euros(before tax) per night.