Start here: cards and transfers

A first points strategy is a chain of three links: the card that earns the points, the transferable currency those points sit in, and the airline or hotel programmes the points can be moved into. The two U.S. card programmes documented on this page, American Express Membership Rewards and Chase Ultimate Rewards, both describe moving points out to partner travel programmes, after which the partner's own rules take over. [2] [3]

Facts checked: 18 October 2026

Cards and transfers
Categories	Points strategy
Applies to	U.S.-issued cards; here Membership Rewards and the Ink Business Preferred Ultimate Rewards agreement
Currencies shown	Membership Rewards, Ultimate Rewards
Data source	Official programme pages

Transfer checklist

Key takeaways

A transfer needs a linked partner account in the right name before anything moves: American Express accepts the cardholder's name or an Additional Card Member's name, and the Additional Card must have been issued at least 90 days earlier [2]; Chase accepts the cardholder or an owner of the company listed as an authorised user [3].
Transfers are one-way: American Express points moved to a partner cannot be converted back [2], and Chase says a transferred point transaction cannot be refunded or cancelled [3].
Rates and timing are set per partner. American Express says the transfer rate varies by partner and processing typically takes 48 hours [2]; Chase says a transfer is made in 1,000-point increments and usually processes by the next business day, but can take up to 7 business days [3].

The card-to-partner chain

The first link is an eligible card. American Express says that to hold a Rewards Account you must have at least one eligible and enrolled product, and that if you hold several products it may link them automatically to the same Rewards Account, with the ways you can use points differing according to which products are linked. [2] On the Chase side, the agreement states that you can move points only to another Chase card with Ultimate Rewards belonging to you, one member of your household, or the owner of the company. [3]

The middle link is the currency. Membership Rewards points do not belong to the cardholder and are not their property, and their value varies according to how they are used. [2] Chase's Ultimate Rewards agreement says points have no value until redeemed. [3]

The outer link is the partner.

What the card earns

Earning rates belong to individual products and should not be carried from one card to another. Under the Membership Rewards terms, cardholders earn points on eligible purchases using an enrolled card. [2] The Chase document cited here is the programme agreement for one card, the Ink Business Preferred: it earns points on combined purchases in shipping, social media and search engine advertising, travel, and internet, cable and phone services, with no maximum. [3]

Both documents exclude whole classes of transaction. American Express excludes cash advances and cash equivalents including gift cards, person-to-person transactions, balance transfers, purchases or reloading of prepaid cards, fees and interest, and purchases paid for with points. [2] The Chase list for this card includes balance transfers, cash advances, cash-like transactions, cheques, interest, fees and unauthorised or fraudulent charges. [3] Both issuers also warn that bonus categories depend on how a merchant is coded, so a purchase that looks eligible may not earn the extra points. [2] [3]

Timing and payment conditions differ. American Express earns points only where the minimum amount due is paid on time, and points not earned for that reason must be requested within 12 months, with a fee for each billing period and each card account. [2] Chase posts points at the close of each monthly billing cycle. [3]

Moving points to a partner

Linking accounts. American Express requires the partner loyalty account to be in your name or the name of an Additional Card Member on your card account, and that Additional Card must have been issued at least 90 days before you link it. [2] Chase requires the receiving frequent travel programme account to belong to you or to an owner of the company listed as an authorised user, and every transfer detail must match what the travel programme already holds, or the transfer can be delayed or refused. [3]

Amounts and ratios. In most cases American Express requires a minimum of 1,000 points and transfers in multiples of 1,000, and it states that the rate at which points transfer varies by partner. [2] Chase transfers in 1,000-point increments. [3] The Chase agreement does not publish a transfer ratio; it does state that when points are redeemed for cash, gift cards or travel each point is worth one cent, and that other redemption options may be worth more or less. [3]

Fees. American Express charges an excise tax offset fee on points transferred to a U.S. airline frequent flyer programme. [2] Chase says a point transfer fee may be charged, and that you are told whether one applies and how much before the transfer. [3]

Speed. American Express says a transfer typically takes 48 hours to process, though some programmes delay posting the points. [2] Chase says most requests process by the next business day but may take up to 7 business days depending on the frequent travel programme. [3] American Express advises checking that points have transferred before booking, and warns that partner programmes may change award levels, blackout dates and capacity controls at any time [2]. Chase says only that transferred points become subject to the frequent travel programme's terms, and that Chase is not responsible for those rules [3].

Exceptions and limits

Restricted products. At American Express, if the only card product linked to the Rewards Account is a Legacy Card, the transfer-to-partner option is not available. [2]
Partner withdrawal. If an airline loyalty programme stops participating, American Express may cap how many points can be transferred to it before participation ends, and says that cap will be at least 100,000 points. [2] Chase notes that participating frequent travel programmes are subject to change without notice. [3]
Flights booked with miles. American Express states that a flight booked with frequent flyer miles is not charged to the card, so card-related insurance and other benefits may not apply. [2]
Ownership and transferability. Points cannot be sold or moved to someone else's rewards account and cannot be passed on through divorce, inheritance or bankruptcy. [2] [3]
Losing points. American Express forfeits all points if it cancels a product, and points are lost immediately if the last linked product is cancelled or unenrolled. [2] Chase points do not expire while the account is open, but are all lost immediately if the account status changes, or the account is closed, for misuse, fraud, failure to comply with other Chase agreements, Chase's belief that you may be unwilling or unable to pay your debts on time (including filing as a debtor in bankruptcy, receivership, reorganisation, liquidation, dissolution or insolvency proceedings, or being the subject of an involuntary petition in any such proceeding), or suspected fraudulent activity; only where the account is closed for any other reason do you have at least 30 days from the date of closure to use the points. [3]
Programme changes. American Express may change the programme and these terms at any time, and gives at least 90 days' notice if it cancels the programme. [2] Chase may supplement its agreement with additional terms. [3]
Scope.

Sources

Sources checked on 18 October 2026. It covers two U.S. programme documents only — American Express Membership Rewards terms and the Chase Ultimate Rewards agreement for the Ink Business Preferred. It does not cover other transferable-points currencies or other issuers, and because neither document lists its airline or hotel partners, no partner names, transfer ratios or sign-up bonuses are stated here.

American Express Membership Rewards Program Terms and Conditions, checked 18 October 2026
Chase Ink Business Preferred with Ultimate Rewards Program Agreement, checked 18 October 2026