Complete history of transfer bonuses over the past decade
Part of what makes transferable points programs such as American Express Membership Rewards and Chase Ultimate Rewards so great is the ability to convert points into miles with dozens of airline partners. What makes them even more attractive is that some issuers offer occasional transfer bonuses for doing so.
However, in order to know whether a transfer bonus is a good deal, it helps to have some context. For instance, a 20% transfer bonus to JetBlue TrueBlue might seem like a decent perk until you learn that another credit card issuer was offering a 25% bonus just a few months ago and will likely do so again.
For that reason, we’ve compiled a list of all the airline transfer bonuses that the following programs have offered over the past 10 years:
Which major card issuer offers the most transfer bonuses?
American Express takes the cake for offering the most transfer bonuses. The company also has the highest number of bonus transfer partner options, plus the greatest frequency of bonus offers by a fair margin.
Chase and Citi have beefed up their transfer bonus opportunities over the past 18 months, while Capital One has been the least generous of the four major issuers.
Which year has seen the most transfer bonuses?
2023 appears to have been the golden year for all four programs offering transfer bonuses. Per our records, American Express, Chase and Citi all offered their highest annual total of transfer bonuses last year.
We’ve seen plenty of transfer offers since then and are keeping an eye out for more offers this year.
It’s also worth noting that this list may not be exhaustive. There are times when a transfer bonus is targeted to a select group of cardholders. However, the data points below are from widespread bonuses that appeared for virtually all customers.
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Related: Why transferable points are worth more than other rewards
The history of American Express Membership Rewards transfer bonuses
American Express Membership Rewards points currently transfer to 18 airline partners, such as Delta Air Lines SkyMiles and Singapore Airlines KrisFlyer. This gives you great options for maximizing the rewards you earn on cards like The Platinum Card® from American Express and the American Express® Gold Card.
American Express typically offers the most transfer bonuses when compared to other issuers, outpacing the field each year across the last decade. In 2023, American Express Membership Rewards offered a whopping 17 transfer bonuses — the most the program has ever offered in a single year.
Aer Lingus AerClub
- July/August 2023: 30%
- September 2022: 25%
- September 2021: 40%
- October 2019: 40%
Aeromexico Rewards
- September 2022: 20%
- September 2021: 25%
- February 2019: 25%
- November 2018: 25%
- March 2015: 20%
Air Canada Aeroplan
- September 2022: 15%
- September 2021: 20%
- December 2019: 10% to 20%
- May 2019: 10% to 20%
- November 2018: 20%
- December 2017: 10% to 20%
Air France-KLM Flying Blue
- September 2023: 25%
- May 2023: 25%
- November 2022: 25%
- September 2022: 25%
- September 2021: 25%
- December 2020: 30%
- April 2019: 25%
- June 2018: 25%
Avianca LifeMiles
- February/March 2024: 15%
- November/December 2023: 15%
- August 2023: 15%
- May 2023: 15%
- November 2022: 15%
- September 2022: 15%
- September 2021: 15%
- April 2019: 15%
British Airways Executive Club
- July/August 2023: 30%
- September 2022: 25%
- September 2021: 40%
- October 2019: 40%
- November 2018: 40%
- September 2017: 40%
- October 2016: 50%
- January 2015: 40%
Cathay Pacific Asia Miles
- March 2024: 10%
- December 2020: 25%
- January 2020: 10%
- March 2019: 10% to 30%
- September 2018: 10% to 30%
Choice Privileges
Emirates Skywards
Etihad Airways Guest
- March/April 2024: 20%
- June 2016: 20%
Hawaiian Airlines HawaiianMiles
- January 2023: 20%
- September 2022: 20%
- September 2021: 25%
- June 2021: 25%
- June 2018: 25%
- June 2017: 25%
- June 2016: 25%
- December 2015: 25%
- June 2014: 20%
Hilton Honors
- November/December 2023: 30%
- August 2023: 25%
- September 2022: 30%
- October 2021: 30%
- June 2021: 40%
- January 2021: 40%
- October 2020: 40%
- December 2019: 50%
Iberia Plus
- July/August 2023: 30%
- September 2021: 40%
- October 2019: 40%
- November 2018: 40%
- December 2016: 50%
- December 2015: 25%
JetBlue TrueBlue
- October/November 2023: 25%
- December 2019: 25%
- June 2019: 40%
- October 2018: 25%
- March 2018: 10% to 30%
- November 2017: 25%
- May 2017: 25%
- September 2014: 25%
Marriott Bonvoy
- November 2023: 20%
- September 2022: 20%
- October 2021: 30%
- June 2021: 40%
- December 2020: 30%
- February 2020: 30%
- June 2019: 40% to 50%
Qantas Frequent Flyer
- September 2022: 20%
- September 2021: 20%
- February 2020: 20%
- June 2019: 20%
Qatar Airways Privilege Club
- November/December 2023: 10%
Singapore Airlines KrisFlyer
- December 2023 (targeted): 20%
Virgin Atlantic Flying Club
- December 2023: 30%
- June 2023: 30%
- September 2022: 30%
- September 2021: 30%
- December 2019: 30%
- July 2019: 30%
- December 2018: 30%
- November 2018: 10% to 30%
- September 2018: 30%
- November 2017: 30%
- May 2017: 30%
- May 2016: 30%
- April 2015: 25%
- November 2014: 35%
- May 2014: 30%
- November 2013: 30%
The history of Capital One transfer bonuses
Capital One has improved its rewards program over the past few years, adding new airline and hotel transfer partners, including Turkish Airlines Miles&Smiles and Choice Privileges. Only select Capital One credit cards can earn transferable miles, but some top options include the Capital One Venture X Rewards Credit Card, the Capital One Venture Rewards Credit Card and the Capital One Venture X Business.
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Aeromexico Rewards
Air France-KLM Flying Blue
- July 2023: 20%
- August 2022: 20%
- September 2021: 30%
- June 2019: 20%
Avianca LifeMiles
- September 2023: 15%
- July 2021: 25%
- December 2020: 15%
- July 2019: 25%
- June 2019: 15%
British Airways Executive Club
- November 2022: 20%
- August 2022: 20%
- August 2021: 33%
Emirates Skywards
JetBlue TrueBlue
Virgin Red
- March 2023: 30%
- October 2022: 30%
The history of Chase Ultimate Rewards transfer bonuses
Although the Ultimate Rewards program launched more than a decade ago, transfer bonuses have been few and far between. However, Chase has offered more transfer bonuses since 2020.
In fact, the Ultimate Rewards program was on pace with the notably generous American Express Membership Rewards program in 2023, offering 14 transfer bonuses last year — the most we’ve tracked in a single year from Chase by a long shot. By comparison, American Express also offered its highest number of transfer bonuses in 2023 at 17.
These bonuses have added substantial value to the rewards you can earn on cards like the Chase Sapphire Preferred® Card, the Chase Sapphire Reserve® and the Ink Business Preferred® Credit Card.
Aer Lingus AerClub
- September 2023: 30%
- September 2021: 30%
Air Canada Aeroplan
- December 2023/January 2024: 20%
- July 2023: 20%
- November 2022: 30%
Air France-KLM Flying Blue
- March/April 2024: 25%
- October/November 2023: 25%
- May 2023: 25%
British Airways Executive Club
- September 2023: 30%
- September 2021: 30%
- December 2020: 30%
- June 2019: 30%
Iberia Plus
- September 2023: 30%
- September 2021: 30%
IHG One Rewards
- February 2024: 60%
- July 2023: 70%
- August 2022: 50%
- December 2020: 30%
- August 2020: 60%
JetBlue TrueBlue
- November 2023/January 2024: 25%
Marriott Bonvoy
- August/September 2023: 50%
- May 2023: 50%
- March 2023: 50%
- November 2022: 40%
- August 2022: 50%
- August 2021: 50%
Virgin Atlantic Flying Club
- October/November 2023: 30%
- May/June 2023: 30%
- October 2022: 30%
The history of Citi ThankYou Rewards transfer bonuses
Citi has over a dozen airline partners, including Cathay Pacific Asia Miles, Etihad Airways Guest and Qantas Frequent Flyer. You can earn transferable ThankYou points on the Citi Premier® Card (see rates and fees).
Citi ThankYou Rewards began to catch up with the other programs in 2023 when the issuer offered 10 transfer bonuses, its highest number across a single year. Last year was also the first time Citi has offered at least five transfer bonuses in a single year since 2019.
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Air France-KLM Flying Blue
- June 2023: 25%
- July 2019: 25%
- August 2018: 30%
Avianca LifeMiles
- October/November 2023: 25%
- March 2023: 20%
- August 2022: 25%
- February 2021: 25%
- July 2019: 25%
- December 2018: 25%
Cathay Pacific Asia Miles
- March 2024: 10%
- July 2023: 15%
- January 2020: 15%
- July 2018: 15%
- September 2017: 20%
Etihad Airways Guest
- July 2017: 10%
- July 2016: 25%
- December 2015: 25%
- May 2015: 25%
JetBlue TrueBlue
- May 2018: 30%
- October 2017: 25%
- April 2017: 50%
Qantas Frequent Flyer
- February 2020: 25%
- April 2019: 25%
- June 2016: 15% to 30%
Qatar Airways Privilege Club
- November 2023: 30%
- June 2023: 30%
Turkish Airlines Miles&Smiles
Virgin Atlantic Flying Club
- February/March 2024: 30%
- September 2023: 30%
- March 2023: 30%
- June 2019: 30%
- October 2018: 30%
- March 2017: 25%
- April 2016: 25%
- August 2015: 25%
Wyndham Rewards
Bottom line
Transfer bonuses can make already useful points much more valuable, and programs were more likely to offer them in 2023 than in any prior year. It’s worth tracking to see if that trend continues in 2024, as this could be advantageous for future redemptions.
Before you take advantage of a transfer bonus, though, it is important to know whether it is a good deal, an unusually high bonus or something likely to be beneficial to you for an imminent redemption.
If a transfer bonus that appeals to you comes around, bookmark this page and our current transfer bonus page to see how it compares to past and current offers. Be sure to research ideas about maximizing your points with the best strategy possible.
