Chase Ultimate Rewards is a popular rewards program that allows cardholders to earn and redeem points for various travel and lifestyle benefits. One of the key advantages of this program is the ability to transfer points to partner programs, such as IHG One Rewards, which offers hotel stays at various IHG properties.
From now until 03/01/24, Chase is offering a 60% bonus on transfers from Ultimate Rewards to IHG One Rewards. This is the highest transfer bonus we’ve ever seen, but is it worth it? It’s important to consider the changes that IHG One Rewards has made to their award program, which is now fully dynamic and does not have fixed award charts. This means that redemption values may not be as favorable as they once were, even with the transfer bonus.
It’s also worth noting that not all Chase cards are eligible for the transfer. To qualify, you need to have a card that earns transferrable Ultimate Rewards points, such as the Chase Sapphire Preferred, Chase Sapphire Reserve, or Chase Ink Business Preferred. If you have one of these cards, you can move your points from Chase to IHG One Rewards, as well as other partner programs.
However, before making the transfer, it’s important to assess the value you can get from your Chase points. Normally, Chase points are worth close to 2 cents each, while IHG One Rewards points are worth about 1/2 a penny. Unless you can find a high-value redemption, such as a luxury hotel stay, it may not be the best use of your points. Additionally, keep in mind that you can redeem your Chase points directly through the Chase travel portal, where you can get a value of 1.25 cents per point with the Chase Sapphire Preferred or Chase Ink Business Preferred, and 1.5 cents per point with the Chase Sapphire Reserve.
IHG One Rewards offers credit card holders a 4th night free benefit when using points. This is available to those who hold the IHG One Rewards Premier Credit Card, IHG One Rewards Traveler Credit Card, or IHG One Rewards Premier Business Credit Card. This can add value to your points, especially if you’re planning a longer stay.
To illustrate the value of IHG One Rewards, let’s take a look at an example. If we consider the London Fitzroy hotel, the cash rate is $1300. Without a credit card, it would require 190,000 IHG One Rewards points or 112,000 Chase Ultimate Rewards points, which would equate to a value of $0.012 per point. This is not a great redemption value. However, with a credit card that offers the 4th night free benefit, it would only require 143,000 IHG One Rewards points or 90,000 Chase Ultimate Rewards points, which would equate to a value of 1.44 cents per point (assuming you have the Chase Sapphire Reserve).
When deciding whether to transfer your Chase points to IHG One Rewards, it’s important to crunch the numbers and consider the value you can get from your points. If you’re looking to stay at an expensive property and can get a high value per point, this transfer bonus could be a great opportunity. However, if you’re looking at more standard hotel options, it may not be the best use of your points, especially considering that IHG frequently runs sales where you can purchase IHG One Rewards points for as low as $0.005 per point.
In conclusion, the transfer bonus from Chase Ultimate Rewards to IHG One Rewards can offer value for those looking for high-value hotel redemptions. However, it’s important to carefully assess the redemption options and consider the value you can get from your points before making the transfer.