Chase Points to IHG One Rewards: Is It Worth It?

Chase Points to IHG One Rewards: Is It Worth It?

Chase Ultimate Rewards has just rolled out a new promotion allowing you to transfer points to IHG One Rewards with a 70% bonus. While it's always nice to see a promotion, I genuinely don't think this is a deal worth jumping on.

Program Details

From April 1 to April 30, 2026, you can earn a 70% bonus when transferring points from Chase Ultimate Rewards to IHG One Rewards. Typically, points transfer at a 1,000:1,000 ratio, but during this promotion, the conversion rate is 1,000:1,700. Interestingly, there’s no limit on the number of transfers you can make.

Transfers from Chase Ultimate Rewards to IHG One Rewards usually happen instantly. In a year, I've noticed that Chase runs point transfer promotions to IHG about two or three times, with previous bonuses ranging from 50% to 100%. So, a 70% bonus feels pretty average and slightly on the low side.

Why You Might Want to Skip This Program

Even though 70% sounds enticing, I don’t believe it’s a great deal in most situations. I value IHG One Rewards points at around 0.5 cents each, while I rate Chase Ultimate Rewards points at approximately 1.7 cents each. Even if you receive 1.7 IHG One Rewards points for every Ultimate Reward point, you’re only getting about 0.85 cents back for each Ultimate Rewards point.

I sincerely hope that most people can redeem their Chase Ultimate Rewards points for more than a cent each, as this redemption value is quite low. Even if you value IHG One Rewards points higher than I do, the reality is that IHG often sells points at 0.5 cents each, so I’d prefer to buy points rather than convert them.

The True Value of Ultimate Rewards Points

In reality, redeeming Ultimate Rewards points at a value of just 0.85 cents is not a smart move compared to paying cash. Ultimate Rewards points hold too much value to be transferred to IHG. In summary, Chase Ultimate Rewards has launched a new promotion offering a 70% bonus when transferring points to IHG One Rewards. While it’s always nice to see a promotion, I truly believe that this isn’t worth participating in for most scenarios.

Transfers to all of Chase's partners typically occur at a 1:1 ratio. While this simplicity is appealing, the fact remains that the value of points varies significantly, leading to partners I would never recommend transferring Chase points to.

Do You Have a Different Perspective?

If anyone has a different opinion or sees a reason to transfer Chase points to IHG, I’d love to hear your thoughts!