Chase just launched its first-ever rewards transfer bonus - here's why you might want to take advantage
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- Chase is offering the first-ever transfer bonus for its credit cards Ultimate Rewards program: Get a 30% bonus when transferring points to British Airways' frequent flyer program, Executive Club.
- While AmEx and Capital One have offered transfer bonuses before, this is a first for Chase.
- British Airways Avios are particularly useful for short-haul flights with partners, or even business class on partner airlines. You can also transfer them to Iberia's Avios program, which includes lower taxes and fees.
- If you're looking to earn Ultimate Rewards points, click here to learn more about the Chase Sapphire Preferred Card.
JP Morgan/Chase has quietly launched a transfer bonus for its credit card rewards customers, offering a 30% bonus when they transfer Chase Ultimate Rewards points to the British Airways Executive Club frequent flyer program.There are a few different kinds of credit card rewards - including cash-back - but the most valuable kind of credit card reward is transferable points- points that can be transferred to hotel and airline partners.
Credit card reward programs generally have set transfer ratios for how many proprietary points are worth a set number of partner miles. Occasionally, those credit card programs will offer transfer bonuses, giving you more airline miles when you transfer your credit card points over.
While Chase has one of the most useful rewards programs out there, it's never offered a transfer bonus before - until now.
Normally, Chase Ultimate Rewards points transfer to each of its nine airline partners at a 1:1 ratio in 1,000-point increments. For example, 1,000 Ultimate Rewards points equal 1,000 United MileagePlus miles.
Starting today, and through June 16, you'll get a 30% bonus on transfers to British Airways. Every 1,000 Chase Ultimate Rewards points transferred will equate to 1,300 British Airways Avios, or miles.
Generally, it's best to have a particular use in mind before you transfer miles over, since transfers only work one way - it's impossible to get points back once you transfer them out. So make sure to find the flights you want - and confirm that you can use Avios to book them - before initiating the transfer. Most Ultimate Rewards transfers are instant, so you should be able to book with Avios right away.
If you're looking to stock up on Ultimate Rewards points, the Chase Sapphire Preferred Card is currently offering its highest-ever sign-up bonus: 60,000 Ultimate Rewards points when you spend $4,000 in the first three months.
Also worth considering: The Chase Sapphire Reserve, the Chase Freedom Unlimited, and the Chase Ink Business Preferred Credit Card, which is offering a massive 80,000 point bonus when your small business or side-gig spends $5,000 in the first three months.
Click here to learn more about the Chase Sapphire Preferred from Insider Picks' partner: The Points Guy.
Click here to learn more about the Chase Sapphire Reserve from Insider Picks' partner: The Points Guy.
Click here to learn more about the Chase Freedom Unlimited from Insider Picks' partner: The Points Guy.
Click here to learn more about the Ink Business Preferred Card from Insider Picks' partner: The Points Guy
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Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective.