Boy, this seems to be the week of transfer bonuses at American Express Membership Rewards:
- Yesterday a 35% transfer bonus was announced to Virgin Atlantic Flying Club
- Today a 50% transfer bonus was announced to Starwood Preferred Guest, though only for Platinum and Centurion cardmembers
It looks like American Express Membership Rewards has also announced a 33% transfer bonus to Hilton HHonors through November 30, 2014.
The ordinary transfer ratio is 1,500 HHonors points per 1,000 Membership Rewards points, but through this promotion you receive 2,000 HHonors points per 1,000 Membership Rewards points, for a 2:1 ratio. The bonus is hard coded into the transfer ratio, meaning you can take advantage of the bonus as often as you’d like.
In the past this could have been a good deal under some scenarios. Unfortunately the HHonors program was massively devalued early last year, to the point that the cost of some premium redemptions increased by around 100%.
A free night at the Waldorf Astoria Chicago now costs 80,000+ points
In the past the best way to convert Membership Rewards points into Hilton HHonors points was by first converting them into Virgin Atlantic miles. That’s because Virgin Atlantic miles converted into Hilton points at a 1:2 ratio, so with any sort of a transfer bonus that was a good transfer ratio.
However, that transfer ratio was devalued to 1:1.5 earlier in the year. Membership Rewards also has a Virgin Atlantic transfer bonus, though in this case you’d basically come out even if you used that method (1.5 HHonors points plus a 35% bonus equals ~2.025 Hilton points per AmEx point). That’s probably not worth it given how much longer the transfer would take.
To put this bonus in the context of past transfer bonuses, AmEx has offered a 33% transfer bonus to HHonors in the past, though that’s about as good as we’ve seen.
If you are wanting to convert AmEx points into HHonors points (for whatever reason), this is as good as it gets.
As I said earlier when the Starwood bonus was announced, I wish we’d see a transfer bonus to one of my four preferred Membership Rewards transfer partners — Air Canada Aeroplan, British Airways Executive Club, Delta SkyMiles, or Singapore Airlines KrisFlyer.