How to maximize transferable credit card rewards
Quick insights
- You may be able to transfer your rewards to your credit card issuer’s transfer partners—typically airline or hotel companies.
- The credit card issuer usually sets a transfer ratio that determines the value your points will have once they are transferred.
- If you want to use your points with a vendor who isn’t a transfer partner, you may have options via shopping portals, gift cards and more.
If you have a rewards credit card, you may want to know how to transfer points and maximize their value. Some credit cards have a long list of transfer partners, and the rate at which the points transfer can vary. It could be useful information to have before you complete a transfer.
Here are some things to know about transferring credit card points.
What are transferable credit card rewards?
If you have credit card points through a rewards program, it may be possible to transfer them to your credit card issuer’s transfer partners. Often, these transfer partners are hotels or airlines. The rewards program may allow you to quickly and easily transfer points through an online portal.
When selecting a rewards credit card, it may be worth considering any transfer partnerships the credit card issuer may have, in addition to the rewards structure, cardmember benefits, perks and features.
What are transfer ratios?
You may belong to more than one rewards program, from your credit card to your favorite hotel chain. Each rewards program has its own rewards currency, and the value of the points or miles can vary.
That’s why credit card issuers use transfer ratios, which is the ratio at which points are transferred from the issuer to the transfer partner. For example, if the issuer has a 1:1 transfer ratio with an airline partner, 1,000 credit card points would become 1,000 airline points.
Looking at the transfer ratio could help you get the most value out of your points when making a transfer.
How to transfer credit card rewards for travel
Your credit card issuer may have an online portal through which you can earn, redeem and manage your rewards, including making transfers. Within the portal, you’ll typically have the option to transfer points. Simply select the transfer partner and follow the prompts to complete the transfer.
In some cases, you may find that using your rewards for travel directly through the issuer’s travel portal offers a way to redeem your points at a higher value than transferring them to an airline or hotel transfer partner.
How to transfer credit card rewards for shopping purposes
Typically, credit card issuers limit their transfer partnerships to hotel and airline companies, so transferring your rewards to a retailer or shop may not be an option.
However, you could have other ways to shop with your points. For example, you may be able to:
- Redeem your points for a gift card with a participating retailer
- Link your credit card rewards account directly with an online retailer to pay with your points
- Use your credit card issuer’s shopping portal to earn and redeem points and find discounts
In summary
You may be able to transfer credit card rewards to the issuer’s transfer partners. The rate at which the rewards transfer typically varies across partners, so you may want to note the transfer ratio. If you don’t see a vendor on the transfer partner list, you may have other opportunities to use your rewards to shop with them.
