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Through July 4, 2018, Citi is offering a 15% 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 converts into 1,150 Asia Miles, and the bonus should post the same time that the normal points do (transfers typically take one to two days, in my experience). 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 welcome bonus of up to 60,000 points upon completing minimum spend on their US co-branded 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. Transfer bonuses to Asia Miles aren’t that common — the last time we saw a Citi ThankYou bonus was last summer, and that was for 20%.
While Asia Miles isn’t anywhere close to being my favorite frequent flyer program, the even further wrinkle is that there are some major program changes coming as of June 22, 2018. So if you wanted to you could take advantage of this transfer bonus and still book awards at the old rates.
For reference, here’s the current Asia Miles award chart for travel on Cathay Pacific, valid for bookings made through June 21, 2018:
Then here’s the current award chart valid for travel on partner airlines, for bookings made through June 21, 2018:
So if you have a balance of Cathay Pacific Asia Miles and want to top off an account for a redemption, or if you just want to outright transfer enough points for a redemption, this is a good opportunity to do so. 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.
For example, under the current chart 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 15% transfer bonus, that’s 105,000 ThankYou points and 157,000 ThankYou points for business and first, respectively.
Redeem Asia Miles for travel in Cathay Pacific first class
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.
Want ThankYou points? Don’t forget about this great offer
If you want to earn ThankYou points, don’t forget that the Citi ThankYou® Premier Card is offering a big 50,000 point welcome bonus after spending $4,000 within the first three months of account opening. The card has a $95 annual fee, though it’s waived for the first year.
This is the most rewarding Citi credit card for everyday spend, as it offers:
- 3x points on travel, including gas stations
- 2x points on dining & entertainment
- 1x points on all other purchases
So if you are looking for ThankYou points, the Citi ThankYou® Premier Card is tough to beat.
It’s rare to see transfer bonuses to Cathay Pacific Asia Miles, so this is potentially a good opportunity. It’s especially useful if you were hoping to make a last minute redemption before their award chart changes kick in. I certainly wouldn’t transfer points without a specific use in mind, but it is worth knowing about this offer if you do have a redemption you’re thinking of.
Does anyone plan on converting ThankYou points into Asia Miles with a 15% bonus?
(Tip of the hat to Point Me to the Plane)