Since mid-April, American Express has been running a 35% transfer bonus between Membership Rewards and British Airways Executive Club. There’s no limit to the number of times one can take advantage of the transfer bonus, and it’s hard coded into the transfer ratio, meaning the 35% bonus posts immediately.
The bonus runs through Friday, June 7, so you only have a few more days to take advantage of it. While we’ve seen 50% transfer bonuses in the past, so far this year we’ve only seen a 30% transfer bonus.
British Airways Avios might not be the most aspirational points currency — their award chart is distance based and they have high fuel surcharges on many of their partners — though it’s one of the most useful points currencies out there.
Avios are great for shorthaul awards, like for travel within the US on American and Alaska (awards start at just 4,500 Avios each way). They’re also great for travel between the west coast and Hawaii (as few as 12,500 Avios each way), for travel to Europe on Air Berlin and Aer Lingus, and for travel to and within South America on LAN.
So given the 35% transfer bonus I’d almost speculatively make a transfer if you have upcoming travel in one of those markets.
It’s a good bonus and while we may see a better transfer bonus in the future, I’m not counting on it anytime soon.