Transfer bonuses are the closest thing to free money in the points world. When a credit card issuer offers a 20%, 40%, or even 70% bonus on transfers to a loyalty program, your points become worth dramatically more for a limited window. August 2026 has five active bonuses worth paying attention to, and two of them are among the best we have seen all year.
But transfer bonuses come with a critical catch: they only create value if you have a specific booking in mind. Transferring points speculatively because a bonus looks good is one of the most common and most expensive mistakes in this hobby. Points sitting in a loyalty account with no purpose lose the flexibility that makes them valuable in the first place.
This guide covers every active transfer bonus in August 2026, breaks down the math on the best redemptions to pair with each one, and gives you a framework for deciding whether any given bonus is worth acting on.
Every Active Transfer Bonus in August 2026
Five bonuses are live right now. Here is the complete list with expiration dates and effective value.
- Chase to British Airways / Iberia / Aer Lingus (Avios): 20% bonus. No announced end date, but historically these last 2 to 4 weeks.
- Chase to IHG One Rewards: 70% bonus. Expires August 31, 2026.
- Citi to Turkish Miles&Smiles: 40% bonus. Active through August, no specific end date published.
- Citi to Air France/KLM Flying Blue: 20% bonus. Expires August 22, 2026.
- United MileagePlus buy miles: Up to 100% bonus on purchased miles. Expires August 20, 2026. Effective cost of 1.88 cents per mile.
Not all of these bonuses are created equal. The Chase to IHG 70% bonus is exceptional by historical standards. The Citi to Turkish 40% bonus unlocks some of the cheapest business class flights in the world. The others are solid but situational. Let us break down each one.
Chase 20% Bonus to Avios Partners (BA, Iberia, Aer Lingus)
Chase is offering a 20% transfer bonus to all three Avios-earning programs: British Airways Executive Club, Iberia Plus, and Aer Lingus AerClub.
A 20% bonus means 10,000 Chase Ultimate Rewards points become 12,000 Avios. This is a moderate bonus, but Avios are already one of the best currencies for short-haul flights, and the bonus makes several sweet spots even cheaper.
Best Redemption: Domestic Short-Haul on American Airlines
British Airways Avios can book American Airlines flights. Flights under 1,151 miles cost just 7,500 Avios each way in economy. With the 20% bonus, that costs only 6,250 Chase points.
At 6,250 Chase points for a $189 flight, you are getting 3.0 cents per Chase point. That is well above the average 2.0 cents per point valuation for Ultimate Rewards.
Best Redemption: Iberia Business Class to Europe
Iberia Avios offer a separate chart from British Airways with different pricing for Iberia-operated flights. Business class from the East Coast to Madrid starts at 34,000 Avios each way on off-peak dates. With the 20% bonus, that is 28,334 Chase points.
At 28,334 Chase points for a $3,200 business class flight, you are getting 11.3 cents per point. That is an outstanding redemption, even without the bonus. The 20% sweetens an already excellent deal.
Chase 70% Bonus to IHG (Through August 31)
Chase is offering a 70% transfer bonus to IHG One Rewards, the largest IHG bonus in over two years. This expires August 31, 2026.
IHG points are normally worth 0.5 to 0.6 cents each, which makes them a poor transfer target from Chase. But a 70% bonus changes the math entirely. With the bonus, 10,000 Chase points become 17,000 IHG points. This effectively values each Chase point at 0.85 to 1.0 cents in IHG terms, which is still below Chase's average valuation but creates specific opportunities.
Best Redemption: InterContinental or Kimpton Properties
The best use of IHG points is at InterContinental and Kimpton hotels where cash rates are high but point costs are moderate. A Kimpton in a major city might cost 40,000 IHG points for a night with a $280 cash rate.
At 23,530 Chase points for a $280 room, you are getting 1.19 cents per Chase point. That is below the typical Chase valuation, but it can make sense if you have already exhausted your Hyatt options for those dates or if the specific IHG property is where you want to stay.
The 70% bonus also makes IHG's PointBreaks list (deeply discounted properties at 5,000 to 15,000 points) extremely cheap in Chase points. A 10,000-point PointBreak stay costs only 5,883 Chase points with the bonus.
Citi 40% Bonus to Turkish Miles&Smiles
Citi ThankYou points transfer to Turkish Miles&Smiles with a 40% bonus this month. This is the standout bonus of August 2026.
Turkish Miles&Smiles already has the cheapest business class award chart among major programs. Add a 40% bonus and the cost drops to levels that are almost absurd. Round-trip business class from the US to Istanbul drops from 63,000 miles to an effective cost of 45,000 Citi points.
Best Redemption: Business Class to Istanbul
At 45,000 Citi points for a $5,200 business class round-trip, you are getting 11.6 cents per Citi point. That is nearly six times the average Citi ThankYou point valuation of 1.8 to 2.0 cents. This is one of the best redemptions available in 2026, period.
Best Redemption: Business Class to Southeast Asia via Turkish
Turkish also offers round-trip business class to Southeast Asia (Bangkok, Singapore, Bali) at 83,000 miles. With the 40% bonus, that drops to approximately 59,286 Citi points.
At 59,286 Citi points for a $7,400 ticket, you are extracting 12.5 cents per point. If you hold a Citi Premier or Citi Prestige and have been accumulating ThankYou points, this is the month to act on an Istanbul or Asia trip. For the full Citi ecosystem breakdown, see the Citi ThankYou Points complete guide.
Citi 20% Bonus to Flying Blue (Through August 22)
Citi is offering a 20% transfer bonus to Air France/KLM Flying Blue, expiring August 22, 2026. This is a modest bonus that becomes powerful when stacked with Flying Blue's monthly Promo Rewards.
Flying Blue publishes discounted award rates on the 1st of each month for specific routes. These promos cut standard pricing by 25% to 50%. When you layer a 20% transfer bonus on top of a promo award, the total discount from standard pricing can reach 60% or more.
Best Redemption: Promo Award Business Class to Europe
At 41,667 Citi points for a $3,400 business class flight, you are getting 8.2 cents per point. This requires the route to appear on the Flying Blue promo list for August, so check the Flying Blue promo awards guide for the current month's discounted routes.
Even without a promo, the 20% bonus brings standard economy awards into solid value territory. A 25,000-mile economy flight to Europe drops to 20,834 Citi points, which is reasonable for a one-way ticket that might cost $500 or more in cash.
United Miles Buy Promotion: Up to 100% Bonus (Through August 20)
United MileagePlus is selling miles with up to a 100% bonus, bringing the effective cost down to 1.88 cents per mile. This is a purchase promotion, not a transfer bonus.
United miles normally sell for 3.5 cents each. With a 100% bonus, you buy 50,000 miles and receive 100,000, cutting the cost per mile in half. At 1.88 cents per mile (after the bonus and accounting for the tiered pricing structure), United miles become a legitimate tool for booking premium cabin flights where award availability exists.
Buying 60,000 United miles for $1,128 to book a $3,100 Polaris business class flight is a strong deal. You are paying 36 cents on the dollar for the cash ticket price. The math works especially well for Polaris business class to Europe and first class on partners like Lufthansa and ANA.
The promotion expires August 20, so you need to decide quickly. Only buy miles if you have a specific redemption in mind with confirmed award availability.
The Golden Rule: Never Transfer Without a Booking
Transfer bonuses create urgency, and urgency leads to mistakes. The single most important rule in the points hobby applies doubly during bonus periods: never transfer points without a specific booking in mind.
Here is why this matters:
- Transfers are irreversible. Once Chase, Citi, or Amex points leave your flexible currency account, they become airline or hotel points. You cannot reverse the transfer. Ever.
- Flexible points are worth more than locked-in points. A Chase Ultimate Rewards point can transfer to 14+ partners. A Turkish mile can only book Turkish Airlines flights. Flexibility has value.
- Award availability changes. You might transfer 60,000 points to Turkish today, only to find that the award seat you wanted is gone tomorrow. Now you have 60,000 Turkish miles with no immediate use.
- Programs devalue without warning. If Turkish changes its chart next month, those miles you transferred at a 40% bonus might be worth less than if you had kept them as Citi points.
The correct sequence is always: (1) find the specific flight or hotel you want to book, (2) confirm award availability, (3) check if a transfer bonus is active, (4) transfer exactly the points you need, (5) book immediately.
How to Evaluate Any Transfer Bonus
Not every transfer bonus is worth acting on. Here is the framework for deciding whether a bonus creates real value for you.
Step 1: Calculate Your Effective Cost Per Point
Take the value of your flexible points (Chase UR averages 2.0 cents, Citi TY averages 1.8 cents) and divide by 1 plus the bonus percentage. A 40% bonus on 1.8-cent Citi points means your effective cost per Turkish mile is 1.8 / 1.4 = 1.29 cents. If Turkish miles are worth 2.5+ cents each on your target redemption, the math works.
Step 2: Compare to Direct Booking Options
Sometimes the cash price of a ticket is low enough that burning points at a bonus rate is still a bad deal. A $200 domestic economy flight booked with 12,500 transferred Avios (even with a 20% bonus, costing 10,417 Chase points) is only 1.92 cents per Chase point. You can get 2.0+ cents per point on many other redemptions. Pay cash for the cheap flight.
Step 3: Check the Partner's Sweet Spots
A transfer bonus to a program with poor redemption options is still a bad transfer. The 70% IHG bonus sounds huge, but IHG points are worth half of what Hyatt points are worth. Make sure the partner has actual sweet spots before getting excited about the bonus percentage.
Step 4: Verify Your Timeline
Transfer bonuses expire. If the bonus ends August 22 and your trip is in December, you need to confirm that award space is available now and will hold until you transfer and book. Some programs allow you to hold award space for 24 to 72 hours, which gives you time to transfer.
What to Watch for in September
Based on historical patterns, here is what we expect in September 2026:
- Amex transfer bonuses: Amex typically runs 2 to 3 transfer bonuses per month. Common targets include British Airways, Air France/KLM, and Hilton. Watch for a potential Hilton bonus in the 30% to 40% range.
- Chase seasonal bonuses: Chase often runs Hyatt or United bonuses heading into fall travel season. Given the recent Hyatt chart changes, a Hyatt bonus would be particularly valuable.
- Citi rotating offers: Citi tends to rotate between Turkish, Flying Blue, and Singapore Airlines. If Turkish is active now, expect a different partner in September.
We publish an updated transfer bonus tracker at the start of each month. Subscribe to the PointsHacking newsletter to get notified when new bonuses launch.
Frequently Asked Questions
Can I transfer points from multiple credit cards to the same airline account?
Yes. You can transfer Chase, Citi, and Bilt points to the same Turkish Miles&Smiles account (for example). Each transfer is independent. If a bonus is active on one bank but not another, only the bonus-eligible transfer gets the extra miles.
Do transfer bonuses apply to all cardholders or just targeted offers?
Most Chase and Citi transfer bonuses are available to all cardholders with transferable points. Amex bonuses are sometimes targeted (only appearing for specific accounts). Check your Amex app or website to see if a bonus appears for your account. If it is targeted and you do not see it, it may not be available to you.
How long do point transfers take?
Chase transfers are typically instant to most partners. Citi transfers take 24 to 48 hours for most airlines. Always allow time for the transfer to complete before the bonus expiration date. If a bonus ends August 22, initiate your transfer by August 21 at the latest to ensure it processes under the bonus terms.
Is it worth buying United miles at 1.88 cents each?
Only if you have a specific premium cabin booking in mind. At 1.88 cents per mile, United miles become a good deal for Polaris business class (valued at 2.5 to 4.0+ cents per mile on international routes) but a poor deal for domestic economy (valued at 1.0 to 1.3 cents per mile). Never buy miles speculatively.
What if the award seat disappears after I transfer my points?
Unfortunately, point transfers are permanent and cannot be reversed. This is why the golden rule exists: confirm award availability before transferring. Some programs like Flying Blue allow you to place a 72-hour hold on an award, which gives you time to transfer points. Turkish Miles&Smiles does not offer holds, so you need to search, transfer, and book in quick succession.
