[Expired] Chase Ultimate Rewards: 20% Transfer Bonus To Southwest Rapid Rewards (1:1.2)

The Offer

Direct link to offer

• Chase is offering a 20% transfer bonus when you transfer Chase UR points to Southwest Rapid Rewards points. The normal transfer rate is 1:1, this make it’s 1:1.2.

The Fine Print

• Valid until 10/31/20

Our Verdict

Traditionally Chase hasn’t offered any transfer bonuses, but recently we’ve seen some from IHG & British Airways (Chase also has co-branded cards with these partners). At the moment it’s possible to cash out Chase UR points for 1.25-1.5¢ per point via the Pay Yourself Back feature. Southwest points are worth a base of 1.28¢ per point, but that doesn’t include the fees & taxes you don’t pay making them more valuable then this. Even at the base rate with this 20% bonus you’re getting 1.54¢ per point for a single Chase UR towards Southwest flights.

This could make transferring useful, personally think cashing out for 1.5¢ is still the better option. You can find a full list of previous and current Chase transfer bonuses by clicking here.

Hat tip to Frequent Miler