How credit card transfer partners work, and when they raise what your points are worth
Last updated: October 2, 2026 Card terms checked: September 2026
A transfer partner is an airline or hotel loyalty program that a bank lets you move points into, usually at 1:1. It matters because transferring is how points reach their highest values: The Points Guy's September 2026 values are 2.05 cents for Chase Ultimate Rewards and 2.0 cents for Amex Membership Rewards. Against each bank's cash-out floor, that is about 2x for Chase and about 3.3x for Amex. Individual bookings can land far above or below those averages.
Values are estimates. Transfers cannot be reversed. Pay every card in full each month.
What a transfer partner actually is
Bank points from Chase, Amex, Citi, and Capital One can move into airline and hotel programs. Most transfers are 1:1 and one-way. Once points move, they follow the partner program's rules, including any later price increases. Points left at the bank keep all their options open, and Chase and Amex points do not expire as long as you keep an eligible card open.
The one formula that matters
Cents per point = (cash price minus award taxes and fees) divided by points, times 100.
| Example (illustrative) | Cash price | Award price | Taxes and fees | Cents per point |
|---|---|---|---|---|
| Business class to Europe | $4,500 | 70,000 miles | $150 | 6.2 |
| Domestic economy one-way | $260 | 13,000 miles | $5.60 | 2.0 |
| Mid-range hotel night | $190 | 30,000 points | $0 | 0.6 |
Compare the result with your floor:
| Bank program | Cash-out floor | The Points Guy value (September 2026) | Multiple of floor |
|---|---|---|---|
| Chase Ultimate Rewards | 1.0 cent (cash back) | 2.05 cents | about 2x |
| Amex Membership Rewards | 0.6 cents (statement credit) | 2.0 cents | about 3.3x |
Anything under 1 cent is worse than cashing out Chase points.
The partners worth knowing
| Program | What it books | Transfer from |
|---|---|---|
| Air Canada Aeroplan | Air Canada and Star Alliance (including United and Lufthansa) | Chase, Amex, Capital One |
| Air France-KLM Flying Blue | Air France, KLM, and SkyTeam (including Delta) | Chase, Amex, Citi, Capital One |
| British Airways Avios | British Airways and oneworld (including American) | Chase, Amex |
| United MileagePlus | United and Star Alliance | Chase |
| Southwest Rapid Rewards | Southwest | Chase |
| Delta SkyMiles | Delta and SkyTeam | Amex (excise offset fee applies) |
| World of Hyatt | Hyatt hotels | Chase (1:1 on Sapphire Reserve; 4:3 on Sapphire Preferred and Ink Business Preferred) |
Alliances let one program book many airlines: Aeroplan for Star Alliance, Flying Blue for SkyTeam, Avios for oneworld. For a side-by-side of both banks' lists, see Chase Ultimate Rewards vs Amex Membership Rewards.
Five rules before you transfer
- Find the award before you transfer. Transfers only go one way. Search the partner's site for the actual flight or hotel, confirm the seat at the price you expect, and only then move the points.
- Check how long the transfer takes. Most arrive within minutes, but not all. Singapore Airlines transfers from Chase, for example, typically take a day or two, and award seats can disappear in that time.
- The account has to be yours. The loyalty account generally has to be in your name. Amex also allows transfers to an authorized user on your card, but only after they have been on the account for at least 90 days.
- Look at the cash part of the award. Some programs add large carrier surcharges, and British Airways is known for adding them on many of its own long-haul flights. Amex charges an excise tax offset fee on transfers to U.S. airlines, which today means Delta and JetBlue: $0.0006 per point, capped at $99. On 100,000 points that is $60. Transfers to foreign airlines and hotels carry no such fee.
- Treat transfer bonuses as a discount, not a reason. Banks regularly run bonuses for a limited time. A bonus is great when you were going to transfer to that program anyway. A big bonus to a low-value program can still be a bad deal, so run the formula with the bonus included.
When transfers are not worth it
If you travel once a year and do not want to search award calendars, cash back is a perfectly good answer. A flat 2% card pays the same every time, with no research and no risk of a bad transfer. This matters most with Amex: if you hold an Amex card that earns Membership Rewards and you know you will never transfer, your cash-out options are weak. Six tenths of a cent on a statement credit is well below what a no-fee 2% card pays. Be honest about whether you will use partners before paying an annual fee for points that depend on them.
For the full value picture, see what a credit card point is worth. For a worked booking, see business class to Japan with points. To see your own rewards at cash value and travel value, use the free rewards calculator.