Through September 6, 2017, Citi is offering a 20% bonus when you convert ThankYou points from their US program to Cathay Pacific Asia Miles. The bonus is hard coded into the transfer ratio, meaning that 1,000 ThankYou points convert into 1,200 Asia Miles, and the bonus should post the same time that the normal points do. There’s no limit to how often you can take advantage of this offer.
Cathay Pacific Asia Miles is transfer partners with Amex Membership Rewards, Citi ThankYou, and Starwood Preferred Guest. On top of that, they have an increased 50,000 mile sign-up bonus at the moment on their co-branded US credit card.
Of the major transferable points currencies, Citi ThankYou points are the ones I find least valuable, so if I were to transfer points to Asia Miles, I’d want them to be from there. On top of that, this is the first transfer bonus I recall seeing from a US transferable points currency to Asia miles.
Here’s the Asia Miles award chart for travel on two or more airlines other than Cathay Pacific (or three or more airlines if including Cathay Pacific), which is based on the cumulative distance of the itinerary:
Meanwhile here’s their award chart for travel on a single airline, based on either one-way or roundtrip distance flown:
While I used to think their chart was uncompetitive, nowadays other programs have gotten worse to the point that it actually looks sort of appealing again.
For example, flying Cathay Pacific roundtrip from Los Angeles to Hong Kong would cost you 120,000 miles in business class or 180,000 miles in first class. If you factor in the 20% transfer bonus, that’s 100,000 ThankYou points and 150,000 ThankYou points for business and first, respectively.
While not quite as good as the redemption value through Alaska Mileage Plan, that’s significantly better than through American AAdvantage.
One of the other lucrative things about Asia Miles is that you can have up to five stopovers on an award, so you could redeem 85,000 miles for a business class award covering 7,501-9,000 miles, and include a bunch of stopovers.
This 20% transfer bonus from Citi ThankYou to Asia Miles can be a great deal. Personally I wouldn’t transfer points just for giggles, but with a specific use in mind this could make sense. I consider ThankYou points to be the least valuable of the major transferable points currencies, so when you factor in the 20% bonus, this can be a solid deal for oneworld premium cabin redemptions, including on Cathay Pacific.
Does anyone plan on converting ThankYou points into Asia Miles with a 20% bonus?
(Tip of the hat to DCAGuy)