The art of the transfer bonus
It's a travel rewards power move you need to know.
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Mary Ellen here. True story — last year, I had 31,000 points turn into 43,000 overnight ! With the increase, I booked flights to London for my family of five for our summer vacation. We saw Big Ben, shopped for toys in Hamley's and frolicked by The Sunken Garden at Kensington Palace. It was all thanks to a 40% transfer bonus from my bank to Virgin Atlantic.
Capitalizing on transfer bonuses can instantly increase the value of your points by 20, 30 or even 40%! These opportunities actually come around somewhat frequently. Curious to learn more? I'll tell you all about them below!
Points and miles tip of the week
You've heard it's best to strike when the iron's hot, right? In the points-and-miles world, this means strategically positioning yourself to take advantage of transfer bonuses. What is a transfer bonus? It's a limited-time promo that gives you extra miles or points when you move them from a credit card program to a travel partner. Here's how it works:
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Points normally transfer in increments of 1,000 at a 1:1 ratio.
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When a 20% transfer bonus comes along, your 1,000 points can turn into 1,200 overnight.
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Now, those flights you thought would cost you 50,000 points are 20% cheaper!
The transfer bonus is why rewards pros like Joanna and I try to earn as many transferable points as possible through travel credit cards. When these offers pop up, we're ready to cash in for insane value! Transfer bonuses change regularly, and new ones come along each month. Some hotel and airline programs have them frequently (thank you, Virgin Atlantic), and some are basically unheard of (don't bother waiting around for a Hyatt transfer bonus).
TLDR:Put yourself in a position to cash in big time when a great transfer bonus is announced. Start earning transferable points NOW, so you'll be ready to book your own 40%-off flights to your destination of choice when the opportunity presents itself!
Listen to the Wonderland on Points podcast
In this episode: Back in January, Joanna and I capitalized on a transfer bonus to Flying Blue and booked business class KLM flights to Austria for a whirlwind weekend of fun. Hear how we maximized that bonus for an incredible trip.
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