Depending on whether you’re trying to save on travel or maximize cashback, you can put these powerful transfer bonuses to use to unlock extra rewards. Knowing how to maximize these bonuses can help to increase your credit card points while also allowing you to experience bigger paybacks. Here’s how to take advantage of credit card transfer bonuses for travel and cashback.
What Is a Credit Card Transfer Bonus?
This all happens via credit card transfer bonuses, which are when you transfer your credit card points to another loyalty program and often earn bonus points and/or miles when doing so. Many credit card companies, including Chase, American Express, and Citi, have transfer partners such as airlines and hotel chains. When you transfer points to one of these partners, you may receive bonus points or miles, creating even greater value for your rewards.
Stretching your travel rewards further with 10 different transfer bonuses
Travel rewards can be one of the best ways to use credit card transfer bonuses. Certain credit cards offer lucrative bonuses when transferring points to airline or hotel partners. That is, you may get a 25% to 50% bonus when you transfer points to select partner airlines or hotel programs.
How to Get the Most from Travel Bonuses:
- Navigate Your Transfers: Look for occasional transfer promotions. Tired of this game then, some programs offer transfer bonuses for a limited time, and care must be taken around transfer timing which can significantly increase rewards.
- Transfer to Valuable Partners: Not all airline or hotel programs are created equal. Transferring points to high-value partners (think those with low redemption rates or ones that have exclusive deals) can make your points go much further and allow you to book a flight or stay at a better value.
- Use Points For Upgrades: Some loyalty programs also allow you to use transferred points for upgrades in addition to bookings. Upgrades tend to be of a better value when it comes to redeeming your bonus points; you just need a few to get a good value on your transfer.
Second, meet the minimum spend threshold on the card to maximize cashback.
Credit card transfer bonuses can also be a game changer for those who prefer cashback and travel rewards. A few cards let you transfer to a cashback partner, too, enhancing what you can redeem. For example, you can move points to a partner merchant or an online marketplace and apply those points toward cashback or gift cards.
How to Maximize Cashback Bonuses:
- Find High Cashback Partners: Certain cards let you redeem points at a retail or online marketplace that provides you with high cashback partners. Do a little research on what your options are so you are getting the most bang for your points.
- Redeem at The Right Times: Some of your cashback partners may give you additional bonuses or better redemption rates at various times of the year, like holiday sales. Draw up transfer plans at these events to optimise your return.
Follow Transfer Offers & Terms
Always keep an eye on the terms and conditions of any credit card transfer bonuses. Bonus point promotions are the third pillar of nearly all loyalty programs. They vary widely from tens to hundreds of thousands of bonus points for a limited time and apply only to select partners. Keeping track of these offers could allow you to take advantage of them before they expire.
Conclusion
Credit card transfer bonuses make earning rewards much more valuable, whether you’re trying to earn enough points for that dream trip or simply want to squeeze the most cash back out of your purchases. You can maximize your credit card through points transfer to high-value partners, transfer planning and watching promotional periods. With some diligence, you’ll get to fully take advantage of these bonuses, which will help your everyday spending become extraordinary rewards.
