The Chase Ultimate Rewards program is known for its flexibility and value when it comes to redeeming points for travel. However, it’s always important to evaluate the transfer options and bonuses to ensure you’re getting the most out of your points. One current promotion worth considering is the 60% bonus when transferring Chase Ultimate Rewards to IHG One Rewards.
IHG One Rewards is the loyalty program of InterContinental Hotels Group, which includes popular hotel brands like Holiday Inn, Crowne Plaza, and InterContinental. With this transfer bonus, you can potentially get more value for your Chase points when booking hotel stays within the IHG portfolio.
However, before diving into the details of this transfer bonus, it’s essential to note that IHG One Rewards recently made changes to their award program. They have moved to a fully dynamic pricing model, meaning there are no fixed award charts. This change makes it challenging to predict the redemption value you’ll get for your points, even with the transfer bonus.
To stay updated on the latest transfer bonuses across various loyalty programs, you can refer to the transfer bonus page on Monkey Miles, a popular travel blog.
To be eligible for this transfer bonus, you need to have a Chase credit card that earns transferrable Ultimate Rewards points. These include popular cards like the Chase Sapphire Preferred, Chase Sapphire Reserve, and Chase Ink Business Preferred. If you have one of these cards and an additional Chase Freedom Unlimited, Chase Freedom Flex, Chase Ink Business Cash, or Chase Ink Business Unlimited, you can combine points from both accounts and transfer them to IHG One Rewards.
Chase Ultimate Rewards offers a range of transfer partners, including airlines and hotel loyalty programs. The transfer ratio for IHG One Rewards is 1,000 Chase Ultimate Rewards points to 1,600 IHG One Rewards points. While this transfer bonus might seem attractive, it’s crucial to evaluate the value you can get from IHG One Rewards compared to other redemption options.
In general, Chase Ultimate Rewards points are valued at around 2 cents per point, while IHG One Rewards points are worth about 0.5 cents per point. Therefore, under normal circumstances, it’s not advisable to transfer your Chase points to IHG One Rewards unless you can find a high-value redemption opportunity, such as an expensive hotel stay.
It’s worth noting that IHG One Rewards offers a compelling benefit for credit card holders. If you have one of the IHG One Rewards Premier Credit Card, IHG One Rewards Traveler Credit Card, or IHG One Rewards Premier Business Credit Card, you can enjoy a fourth night free when using points for a hotel stay.
To illustrate the potential value of transferring Chase points to IHG One Rewards, let’s consider a specific example: the London Fitzroy hotel. If you were to pay with cash, it would cost $1,300 for a stay. Without a credit card, you would need 190,000 IHG One Rewards points or 112,000 Chase Ultimate Rewards points, which equates to a value of $0.012 per point. This redemption value is relatively low.
However, if you have one of the IHG One Rewards credit cards mentioned earlier, you would only need 143,000 IHG One Rewards points or 90,000 Chase Ultimate Rewards points. At a value of $0.012 per point (or under the Chase Sapphire Reserve’s redemption rate of 1.5 cents per point), this redemption option becomes more attractive.
Before deciding to transfer your Chase points to IHG One Rewards, it’s essential to crunch the numbers and evaluate the potential value you can get from your points. If you’re planning an experiential trip and can find an expensive property where you can get a high redemption value, this transfer bonus could be a great opportunity to maximize your points. However, for run-of-the-mill hotels, it’s generally not advisable to use your Chase points unless you can get more than 2 cents per point in value.
Lastly, it’s important to remember that IHG One Rewards allows you to purchase points, with frequent sales offering points at a rate of $0.005 per point. Considering this option, it might be more cost-effective to buy IHG One Rewards points directly rather than transferring your Chase points.
In conclusion, the current transfer bonus of 60% when transferring Chase Ultimate Rewards to IHG One Rewards can be a valuable opportunity if you have specific high-value redemptions in mind. However, it’s crucial to evaluate the dynamic pricing model of IHG One Rewards and compare the redemption value to other options before making a decision.