Updated September 5, 2026: four of these bonuses have ended: Chase to IHG (70%), Citi to Turkish Airlines (40%) and Capital One to Avianca (15%) on August 31, and Citi to Flying Blue (20%) on August 22. The three Amex Avios bonuses run to September 27 and Chase to Aeroplan is reported through September 30. Eight bonuses are live now, each priced against a real seat, in our September transfer bonus roundup.
The short version: 7 transfer bonuses are live as of August 24, across 4 banks. Run each one against what the points are already worth and every single one comes out behind, and the flashiest number is the furthest behind. A 70% bonus into IHG One Rewards hands back $9.80 per 1,000 points. Offer screenshots below were cropped from each bank's own page on August 3, 2026; the live list and deadlines were re-checked against our transfer tracker on August 24, 2026.
A transfer bonus is a discount on a currency you have not spent yet. That is the whole trick of it. The bank shows you a big percentage, and the percentage is real, but it is a percentage of something that may be worth less than what you are giving up.
What is live
| Transfer | Bonus | 1,000 points becomes | Ends |
|---|---|---|---|
| Chase UR to IHG One Rewards | 70% | 1,700 | August 31, 11:59pm ET (ended) |
| Chase UR to Air Canada Aeroplan | 20% | 1,200 | reported September 30 (see the September roundup) |
| Citi TY to Turkish Airlines Miles & Smiles | 40% | 1,400 | August 31, 4:59pm ET (ended) |
| Amex MR to Aer Lingus AerClub | 30% | 1,300 | September 27, 11:59pm ET |
| Amex MR to British Airways Avios | 30% | 1,300 | September 27, 11:59pm ET |
| Amex MR to Iberia Plus | 30% | 1,300 | September 27, 11:59pm ET |
| Capital One to Avianca LifeMiles | 15% | 1,150 | August 31, 11:59pm ET (ended) |
The offers, as the banks show them
Cropped from each bank's own page on August 3, 2026, so you can see the wording rather than take ours for it.
American Express: 1,000 points becomes 1,300 Avios at all three Avios programs, through September 27.
Chase: the 70% headline. The base rate underneath it is one to one.
Capital One: the only one of the four that prints its own deadline on the offer itself.
Citi: 840 Millas, with 700 struck through. This is the one our own database had wrong. This offer ended August 22, 2026 — the screenshot stays because it is what Citi showed at the time, not because the deal is still available.
One set of conditions worth reading twice, from Turkish Airlines' own campaign page: the 40% bonus is capped at 50,000 extra Miles, it ends August 31 at 11:59pm Türkiye time — which is 4:59pm Eastern, seven hours earlier than the usual end-of-day deadline — and the bonus Miles are credited only after the campaign ends. That last one matters: you cannot book an award with the bonus portion during the window, so this is not the tool for a seat that needs booking this month.
Now the part the percentage hides
Points you already hold are worth something. Ours are valued per program, and those values are what we use everywhere on this site. Amex's own partner list isn't fixed either. It ended Etihad Guest transfers earlier this year; see what changed. So the only question that matters is whether 1,000 points buys more value on the other side than it was already worth sitting still.
| Transfer | 1,000 points are worth today | Worth after the transfer | You end up with |
|---|---|---|---|
| Chase UR to IHG One Rewards | $20.00 | $10.20 | $9.80 less |
| Chase UR to Air Canada Aeroplan | $20.00 | $16.80 | $3.20 less |
| Citi TY to Air France/KLM Flying Blue (ended Aug 22) | $18.00 | $11.76 | $6.24 less |
| Citi TY to Turkish Airlines Miles & Smiles | $18.00 | $14.70 | $3.30 less |
| Amex MR to Aer Lingus AerClub | $19.00 | $17.55 | $1.45 less |
| Amex MR to British Airways Avios | $19.00 | $17.55 | $1.45 less |
| Amex MR to Iberia Plus | $19.00 | $18.20 | $0.80 less |
| Capital One to Avianca LifeMiles | $18.50 | $18.40 | $0.10 less |
The 70% headline is the worst of them. Chase UR points are worth 2 cents each to us; IHG One Rewards sits at 0.6. Multiplying a weak currency by 1.7 does not fix the currency. If you're building a Chase Ultimate Rewards balance from scratch, business cards like the Ink Business Preferred earn transferable points faster than most personal cards.
The 15% offer, the smallest number on the page, is the only one that comes close to breaking even. That inversion is the point: the size of the bonus tells you almost nothing about whether to take it. Amex ran a similar transfer bonus into the same program back in July. See how that Avianca LifeMiles bonus fared.
So is a transfer bonus ever worth it
Yes, and the table above is exactly why it is worth it less often than it looks. Those valuations are averages. A bonus pays off when you have found a specific award seat that prices far above the average, and it pays off nowhere else.
So the rule we use, and the only one that has ever protected us: never transfer on speculation. Find the seat first. Price it. Confirm it is bookable on the dates you want. Then, and only then, move the points. Transfers are one way and they are final. Points sitting in the bank keep every option open, and optionality is worth more than a percentage.
The Chase offer that does not print a deadline
Chase lists both of its bonuses on one "Bonus offers" screen inside the logged-in Ultimate Rewards portal, and it is worth seeing how little it tells you. For Air Canada it shows "1,000 pts = 1,000 Aeroplan points" with a green 20% bonus points tag, and for IHG the same layout with 70% bonus points. Two things that screen does not show: an end date for either offer, and any indication of what the resulting miles are worth. It also marked the Air Canada offer Enrolled on the account we looked at, so check whether yours needs activating before you transfer anything.
That missing deadline is the practical catch. Capital One prints its expiry on the offer itself; Chase does not, on this screen. If you are counting on the Aeroplan bonus, treat it as something that can end without notice rather than something with a date you can plan around, and check the portal again on the day you actually move points.
Deadlines, in order
- August 31, 4:59pm ET: Citi TY to Turkish Airlines Miles & Smiles, 40%
- August 31, 11:59pm ET: Chase UR to IHG One Rewards, 70%
- August 31, 11:59pm ET: Capital One to Avianca LifeMiles, 15%
- September 27, 11:59pm ET: Amex MR to Aer Lingus AerClub, 30%
- September 27, 11:59pm ET: Amex MR to British Airways Avios, 30%
- September 27, 11:59pm ET: Amex MR to Iberia Plus, 30%
An eighth bonus, hiding on the airline's side
Cathay Pacific is running its own promotion that no bank's transfer page shows: 10% bonus Asia Miles on points converted from its US finance partners — American Express, Bilt, Brex, Capital One, Citi and Wells Fargo — through August 28, 2026. The catch that voids it: you must register on Cathay's site before you convert. Points moved before registering earn nothing extra.
The same holding test applies, and it fails harder than most: at our valuations, 1,000 Citi points through this bonus come back as about $12.65 of Asia Miles against the $18.00 they were already worth, and Amex transfers at 5:4 before the bonus even applies. A 10% coat of paint on a below-par ratio is still below par. If you want it anyway for a specific Cathay award, register first, and note it cannot be combined with other Cathay campaigns.
What we got wrong, and fixed
Our own database had the Citi to Flying Blue ratio at one to one. Citi's promotions panel shows 1,000 ThankYou Points becoming 840 Flying Blue Millas, with 700 struck through, which is a 1,000-to-700 base and a 20% uplift on top. Our figure came from an aggregator rather than from Citi, and it was wrong. It is corrected, and the number above is the one on Citi's own page. The end date was also missing at first publish — Citi's panel does not print one on the offer tile; it is in the offer terms, and this page now carries it: August 22, 11:59pm ET.
That correction had a second half we missed at first. Our valuations are stored per point of the currency you are spending, so changing a transfer ratio means the valuation has to change with it. We updated the Citi ratio and left the valuation alone, which briefly made this page claim Flying Blue miles are worth more through Citi than through anyone else. Both halves are fixed, and the arithmetic above is the corrected version: 1,000 ThankYou Points become 840 Millas, and 840 Millas are worth $11.76 against the $18.00 those points were already worth.
We are printing both of those because a roundup like this is only worth reading if the arithmetic behind it is checkable, and ours was not until this morning.
Values checked August 3, 2026. Transfer bonuses change without notice and transfers cannot be reversed.
Related articles
- 8 Transfer Bonuses Are Live in September 2026. We Priced a Real Seat or Night Behind Each One.
- Amex to Avianca LifeMiles: The 15% Transfer Bonus Ended July 15, 2026
- 7 Transfer Bonuses Live Right Now (July 2026): Which to Grab and Which to Skip
- Amex Raised Every Delta Offer. The 200,000-Mile One Is Second From Bottom.
Do this with your own numbers
- Transfer partners — every program, ratio and live transfer bonus, checked daily
- Bonus tracker — today's welcome bonuses, verified on the issuer's page