Most people who hold a Sapphire Preferred or Amex Gold redeem points through the issuer's travel portal at 1-1.5¢ per point. That's fine. It's also leaving 30-100% of the value on the table. Here's the 2026 sweet-spot map for Hyatt, Air France, Aeroplan, ANA, and British Airways Avios.
Most people who hold a Chase Sapphire Preferred or Amex Gold redeem their points the same way: through the issuer's travel portal at 1-1.5¢ per point for flights and hotels. That's fine. It's also leaving 30-100% of the value on the table.
Transferring points to airline and hotel partners can multiply your effective value 2-3x — if you know where the sweet spots are. Here's the 2026 map for getting the most out of your Chase Ultimate Rewards, Amex Membership Rewards, and Capital One miles.
Before the sweet spots, the four major flexible point currencies and how to earn them:
Chase Ultimate Rewards (UR) — earned via Sapphire Preferred / Reserve, Ink Business cards, Freedom Unlimited (when paired with a Sapphire)
Amex Membership Rewards (MR) — earned via Amex Gold, Platinum, Green, Business Gold, etc.
Capital One miles — earned via Venture, Venture X, Spark Miles
Citi ThankYou (TY) points — earned via Premier, Strata Premier, Prestige
Each transfers to a different network of airline and hotel partners. The 'sweet spots' — redemptions that punch above 2¢ per point — exist because partners use distance-based or zone-based award charts that haven't kept pace with cash fare inflation.
Why it matters: Hyatt's award chart is fixed by category, not by demand. A Category 1 hotel costs 5,000 points/night; a Category 7 (top tier) hotel costs 35,000-45,000 points/night, regardless of whether the cash rate is $400 or $1,200.
Sweet spot example: A Park Hyatt that retails for $700-$1,000/night (Park Hyatt Vienna, Park Hyatt Tokyo, Park Hyatt Mendoza) costs 30,000-45,000 World of Hyatt points. Effective value: 2-3¢ per point.
Where the points come from: Chase UR transfers 1:1 to Hyatt. Sapphire Preferred holders sitting on 80,000+ UR are looking at 2 nights at a top-end property.
The play: Watch Hyatt's category-shift announcements (they move properties between categories twice a year). Book at the lower category before the next shift bumps your property up.
Why it matters: Flying Blue's monthly 'Promo Rewards' include round-trip Europe economy flights from the U.S. for 50,000-65,000 points — typically 30-40% off the standard award price.
Sweet spot example: A $1,400 round-trip Paris fare costs 50,000 Flying Blue miles + ~$200 in taxes during a Promo Rewards month. Effective value: 2.4¢ per mile.
Where the points come from: Amex MR, Chase UR, Capital One, and Citi TY all transfer 1:1 to Flying Blue. Amex MR is by far the most common source.
The play: Sign up for the Flying Blue Promo Rewards email. When your destination shows up, book within 24 hours — these sell out fast.
Why it matters: Aeroplan publishes a distance-based award chart for partners (United, Lufthansa, ANA, Singapore, etc.). For short-to-medium-haul U.S. flights, Aeroplan often beats United's own award pricing significantly.
Sweet spot example: A 700-mile United flight (LAX-SEA) costs 7,500 Aeroplan miles vs. 12,500 United MileagePlus miles. For a $200 cash fare, that's a 2.7¢-per-mile redemption.
Where the points come from: Amex MR transfers 1:1 to Aeroplan. Chase UR does NOT transfer to Aeroplan; Capital One does (1:1).
The play: Aeroplan also runs occasional 25-30% transfer bonuses from Amex MR; combined with the underlying award rates, this is one of the highest-value transfer paths in the U.S.
Why it matters: ANA's round-trip award chart for business class to Asia is one of the lowest in the industry. A round-trip U.S.-to-Asia business class flight costs 75,000-90,000 ANA miles.
Sweet spot example: A $7,000 LAX-Tokyo business class ticket = 75,000 ANA miles + ~$300 in taxes. Effective value: 9¢ per mile.
Where the points come from: Amex MR transfers 1:1. The catch: ANA requires round-trip bookings, and award availability is constrained — plan to book 10-11 months out for the best chance.
The play: ANA runs occasional transfer bonuses from Amex MR (25-30%), which makes an already-strong redemption legendary. If you can book a Star Alliance partner business class ticket through ANA when a transfer bonus is live, you've hit the highest-value redemption in the U.S. credit card universe.
Why it matters: Avios uses a distance-based chart, which makes short-haul U.S. flights on partners (American Airlines, Alaska, JetBlue depending on routing) ridiculously cheap.
Sweet spot example: A 600-mile American Airlines flight (DFW-MIA) costs 7,500 Avios off-peak. The cash price is often $250+. Effective value: 3.3¢ per Avios.
Where the points come from: Amex MR transfers 1:1. Chase UR transfers 1:1. Capital One transfers at 1:1.
Two or three times a year, transferable-currency programs run 25-30% transfer bonuses to specific partners. The math gets even better:
The promotions are short (typically 2-4 weeks) and announced via:
The issuer's own email newsletter
The Points Guy's 'transfer bonus tracker' page
One Mile at a Time (omaat.com)
Frequent Miler (frequentmiler.com)
If you're sitting on transferable points and not in a hurry to redeem, waiting for a transfer bonus often beats redeeming through the portal.
Transferring isn't always the right call. Stick with the portal redemption when:
You're booking short-notice domestic flights where the cash fare is reasonable ($200-$400). The transfer redemption math doesn't outperform the portal here.
You're redeeming for U.S. mid-market hotels (Hilton, Marriott, IHG midscale). Portal redemptions often beat transfer-and-redeem at this tier.
You haven't done the research first. Transferring is one-way — once your UR or MR becomes Flying Blue miles, you can't transfer them back. Confirm availability on the partner program's site before transferring anything.
Transferring without a specific redemption in mind. Always search for award space on the partner's site first; transfer only after you've confirmed availability.
Ignoring the taxes and fees. '30,000 miles round-trip Europe' still costs $200-$400 in taxes on most carriers, especially British Airways routings (notorious for high fuel surcharges). Factor it in.
Holding too many programs. Two or three currencies you understand deeply > seven currencies you barely use. Pick a primary (Chase UR is the default for most people).
Forgetting that programs devalue. Programs occasionally devalue or close without warning (Lufthansa Miles & More restructured its chart in 2024). The Points Guy and One Mile at a Time track these in real time.
Burning a transfer bonus on a low-value redemption. A 30% bonus is fantastic when applied to a 9¢-per-point ANA business class redemption. It's wasted on a 1.5¢-per-point economy ticket.
Before you transfer:
Search the partner airline or hotel's site (or use a tool like PointsYeah or Roame) for available award seats on your dates
Calculate the cash fare to compare value
Check current transfer bonuses on TPG's tracker page
Once you find a sweet spot:
Transfer only the amount you need (don't overshoot — transfers are irreversible)
Book within 24 hours (award space disappears fast)
Quarterly:
Review which programs are running transfer bonuses this quarter
Check whether any of your transferable balances are at risk of devaluation in upcoming program changes
The portal redemption at 1-1.5¢ per point is the floor. Transfer partners are the ceiling — 2-3¢ per point typical, 5-10¢ on the rare premium-cabin sweet spot.
The work is about 30 minutes of award-space research per redemption. The upside is the difference between getting $800 of value from your Sapphire Preferred bonus and getting $1,600.
Pick one currency (Chase UR is the cleanest), learn the three or four sweet spots that match your typical travel patterns, and ignore the rest.
Award charts, transfer ratios, and partner programs change frequently. The figures above represent typical current redemption values as of publication. Verify each redemption on the partner program's site before transferring; transfers are one-way and irreversible. We are not financial advisors. We may earn a commission when you sign up for offers featured in this article.
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