Points and miles can turn everyday spending into flights and hotel stays, but the vocabulary can feel dense at first. As of October 20, 2026, the practical path for beginners is to open one transferable rewards credit card from Chase, American Express, Capital One, Citi or Bilt, earn the welcome bonus, then learn how to move those points to airline or hotel partners for award bookings. Transferable points are currencies earned on bank credit cards that can be moved to partner loyalty programs rather than spent only at the bank’s own travel portal. Understanding a few core ideas prevents costly mistakes such as transferring points before award space is confirmed.
Most transfers are irreversible, so the order of steps matters. Choose one card, meet the spending requirement for the welcome bonus, search for available award seats on partner airline or hotel sites, then transfer only the amount needed. Eligible Chase cards that allow partner transfers include the Sapphire Preferred, Sapphire Reserve and Ink Business Preferred. The same logic applies to Membership Rewards, ThankYou Points, Capital One miles and Bilt Points. Starting with one program keeps the learning curve manageable before expanding to additional cards or currencies.
Award space is the inventory airlines make available for points and miles redemptions; it is often more limited than cash seats. Checking availability first avoids locking points into a partner program with no usable award. Once the basics of earning, transferring and booking are clear, the rest of the glossary fills in the details that help compare options and avoid common pitfalls.
At a Glance
- Points vs miles: Points are earned in bank or hotel programs; miles are airline currencies. Both pay for award flights or hotel nights.
- Transferable points (Chase Ultimate Rewards, Amex Membership Rewards, Citi ThankYou, Capital One miles, Bilt Points) move to airline and hotel partners, usually at 1:1.
- Exception: From October 1, 2026, Sapphire Preferred and Ink Business Preferred points transfer to World of Hyatt at 4:3; Sapphire Reserve stays 1:1.
- Check award space first. Most transfers can't be reversed, so find the seat or room on the partner's site before moving points.
- Value is measured in cents per point (CPP); see our points valuations. New here? Start here.
Start-Here Path for Beginners in Points and Miles
Open one transferable rewards credit card, earn the welcome bonus, and confirm award space on a partner airline or hotel site before transferring points. Start here.
Quick Answers for Beginners
What are transferable points?
Transferable points are bank currencies such as Chase Ultimate Rewards or American Express Membership Rewards that can be moved to airline and hotel partners for award bookings.
Why check award space before transferring?
Most point transfers are irreversible, so confirming available award seats on the partner site prevents moving points into a program with no usable inventory.
Which Chase cards allow partner transfers?
Eligible Chase cards that allow partner transfers include the Sapphire Preferred, Sapphire Reserve and Ink Business Preferred.
What is the current Chase to Hyatt transfer ratio?
From October 1, 2026, Ultimate Rewards from Sapphire Preferred and Ink Business Preferred transfer to World of Hyatt at 4:3, while Sapphire Reserve stays 1:1. Check your card's terms for the exact rate.
Core Terms: Points, Miles, Transfer Partners and Award Space
Points
Points are a bank or hotel currency that can often be transferred to airline partners or redeemed for stays.
Bank points such as Chase Ultimate Rewards are earned on eligible credit cards and can be redeemed for travel, gift cards, cash back or transferred to partner programs. Hotel programs such as World of Hyatt and Marriott Bonvoy also use points that can be earned on stays and sometimes received via transfer from bank currencies. Both points and miles pay for award bookings once space is confirmed.
Miles
Miles are an airline’s own currency earned through flying, co-branded cards or transfers from bank partners.
Miles pay for award bookings on that airline and, in many cases, on partner airlines through alliances or bilateral agreements. Unlike bank points, airline miles typically stay within one carrier’s program, though partner award space expands their usefulness. Checking the airline’s award calendar confirms availability before any transfer from a bank currency.
Transferable Points
Transferable points are currencies earned on bank credit cards that can be moved to partner loyalty programs rather than spent only at the bank’s own travel portal.
Chase Ultimate Rewards, American Express Membership Rewards, Citi ThankYou Points, Capital One miles and Bilt Points are the main transferable currencies available to U.S. consumers. Moving them to airline or hotel partners often produces higher value than portal redemptions when award space is available at favorable rates. Transfers are usually final, so confirm the partner account name matches before moving points.
Transfer Partners
Transfer partners are airline and hotel loyalty programs to which a bank currency can be moved.
Chase Ultimate Rewards hotel partners are IHG One Rewards, Marriott Bonvoy and World of Hyatt (Wyndham Rewards on some Chase cards). Airline partners include Aer Lingus AerClub, British Airways Club, Air France KLM Flying Blue, Iberia Club, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club and Air Canada Aeroplan. American Express Membership Rewards partners include Aer Lingus AerClub, Air Canada Aeroplan, Air France-KLM Flying Blue, British Airways Club, Delta SkyMiles, Emirates Skywards, Hilton Honors, Marriott Bonvoy and others. Most transfers occur at a 1:1 ratio, though some programs use different ratios.
Award Space
Award space is the seats an airline makes available to book with points or miles.
It is often limited compared with cash inventory. Saver-level award space, when offered, usually provides the best value and is the inventory most commonly available to partner programs. Checking award space before transferring points is essential because the majority of transfers cannot be reversed once completed.
Partner Award Space
Partner award space means seats released by one airline that can be booked using another airline’s miles through an alliance or bilateral partnership.
For example, United MileagePlus miles can book partner award space on Star Alliance carriers, and Flying Blue miles can book space on SkyTeam partners. Availability of partner award space is controlled by the operating airline and can differ from what the marketing airline shows for its own members. Searching the partner program’s site or using the operating carrier’s award calendar confirms whether seats exist before any transfer.
Cents per point (CPP)
Cents per point is a measure of the cash value obtained from each point or mile when redeemed for an award.
Calculate it by dividing the cash price of the flight or stay by the number of points or miles required, then multiply by 100. Higher CPP indicates better value. Deep dive: points valuations.
Transfer bonus
A transfer bonus is a temporary increase in the number of partner points or miles received when moving bank currency.
Issuers or programs occasionally offer bonuses such as 20% or 30% extra on specific partners for a limited time. These can improve the effective transfer ratio. Deep dive: transfer bonuses.
Membership Rewards
Membership Rewards is American Express’s transferable points currency earned on eligible Amex credit cards.
Points can be transferred to a roster of airline and hotel partners including Aer Lingus AerClub, Air Canada Aeroplan, Air France-KLM Flying Blue, British Airways Club, Delta SkyMiles, Emirates Skywards, Hilton Honors and Marriott Bonvoy. Transfers are final and the name on the card must match the partner account. Deep dive: Amex Membership Rewards transfer partners.
Ultimate Rewards
Ultimate Rewards is Chase’s transferable points currency earned on eligible Chase credit cards.
Eligible cards that allow partner transfers include the Sapphire Preferred, Sapphire Reserve and Ink Business Preferred. Points do not expire as long as the account remains open and in good standing. Deep dive: Chase Ultimate Rewards transfer partners.
ThankYou Points
ThankYou Points is Citi’s transferable points currency earned on eligible Citi credit cards.
Partners include American Airlines, Emirates Skywards, Flying Blue, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Aeromexico Rewards, Avianca Lifemiles, Cathay Pacific Asia Miles and hotel programs such as Choice Privileges and Wyndham Rewards. Most transfers are 1:1.
Capital One miles
Capital One miles is the transferable currency earned on eligible Capital One credit cards.
Miles can be transferred to airline partners such as Air Canada Aeroplan, British Airways Club, Cathay Pacific Asia Miles, Flying Blue and Singapore Airlines KrisFlyer, and hotel partners such as Choice Privileges and Wyndham Rewards, most at a 1:1 ratio. The minimum transfer is 1,000 miles and transfers cannot be reversed. Some partners use different ratios including Emirates Skywards at 2:1.5 and JetBlue at 5:3.
Bilt Points and Rent Day
Bilt Points are the transferable currency earned on the Bilt Mastercard, including points from rent payments and other spend.
Rent Day is a monthly window when certain transfer bonuses or elevated earning may apply. Transfers to most partners are 1:1, but Accor Live Limitless is 3:2 and I Prefer Hotel Rewards is 1:2. Minimums vary by status and transfers move in 1,000-point increments and are irreversible.
Transfer ratio
A transfer ratio is the rate at which bank points convert into partner points or miles.
Most Chase, Amex, Citi and Capital One transfers are 1:1. From October 1, 2026, Ultimate Rewards from Sapphire Preferred and Ink Business Preferred transfer to World of Hyatt at 4:3, while Sapphire Reserve stays 1:1. That means 1,000 Chase points become 750 Hyatt points on those two cards.
These core terms form the foundation for every later decision. Points and miles both fund awards, but transferable bank points add flexibility across multiple programs. Confirming award space or partner award space before moving points protects against irreversible transfers.
| Term | Definition | Example Issuer or Program |
|---|---|---|
| Points | Bank or hotel currency | Chase Ultimate Rewards, World of Hyatt |
| Miles | Airline’s own currency | United MileagePlus, Delta SkyMiles |
| Transferable Points | Bank currency movable to partners | Membership Rewards, ThankYou Points |
| Award Space | Seats available for points or miles | Any airline award inventory |
Worked example: A traveler holds 60,000 Chase Ultimate Rewards points and wants a one-way award on United. First search United’s site for award space in the desired cabin. If a saver seat appears, transfer 60,000 points (in 1,000-point increments) to United MileagePlus; the transfer is final. If no space exists, leave the points in Chase and try another partner or a different date.
Credit Card Terms: Annual Fee, Welcome Bonus and Category Earn
Annual Fee
An annual fee is a yearly charge assessed by a credit card issuer for holding the card.
The Chase Sapphire Reserve has an annual fee of $795. The American Express Platinum Card has an annual fee of $895. These fees are offset by credits, lounge access or elevated earn rates for some cardholders; for others a no-annual-fee card is the better fit. Fees are charged once per year on the account anniversary and are disclosed on the issuer’s card page.
Welcome Bonus
A welcome bonus is a large lump sum of points or miles awarded after a new cardholder meets a minimum spending requirement within a set period.
The bonus is typically the highest single earning opportunity on a new card. Meeting the spend threshold on everyday purchases keeps the process straightforward. Offers change frequently, so the current amount and deadline appear on the issuer’s application page.
Category Earn
Category earn means a credit card awards a higher number of points or miles per dollar spent in specific purchase categories such as dining, travel, groceries or gas.
A card might earn 3x or 4x in dining while earning 1x on other purchases. Understanding category earn helps match a card to actual spending patterns. Combined with a welcome bonus, category earn determines the total points accumulated in the first year and beyond. Dining categories typically include restaurants, takeout and eligible delivery. Travel categories may cover airlines, hotels, car rentals or the issuer’s own portal.
5/24 rule
The 5/24 rule is a widely reported pattern in which Chase declines most applications if the applicant has opened five or more personal credit cards from any issuer in the prior 24 months.
Chase does not publish the rule on its current site. Cardholders track personal applications to stay under the threshold before applying for Chase cards that earn Ultimate Rewards. Deep dive: Chase 5/24 rule.
Authorized user
An authorized user is a person added to a primary cardholder’s account who can make purchases and earn rewards on that account.
Authorized users typically receive a card in their name but the primary cardholder remains responsible for payments. Adding an authorized user can help meet minimum spend for a welcome bonus or share lounge access. Issuers set their own rules for authorized users.
Foreign transaction fee
A foreign transaction fee is a charge assessed on purchases made outside the card’s home country or in a foreign currency.
Many premium travel cards waive this fee. Cards without the fee simplify international spending.
Statement credit
A statement credit is a reduction applied to a card’s balance that offsets a specific purchase or annual fee.
Issuers offer statement credits for categories such as travel, dining or rideshares. Credits post after qualifying purchases and appear as a credit on the statement. Track credits against the annual fee when evaluating a card.
Global Entry and TSA PreCheck credit
A Global Entry and TSA PreCheck credit is a statement credit that reimburses the application fee for Global Entry, TSA PreCheck or NEXUS.
Many premium cards offer this credit once every four years. Apply through the official government site and pay with the eligible card to receive the credit. The credit covers the fee up to the amount listed on the card’s terms.
Minimum spend
Minimum spend is the amount a new cardholder must charge within a set period to earn the welcome bonus.
The threshold and deadline appear on the issuer’s application page. Everyday purchases usually count toward the requirement. Deep dive: credit card application rules.
Product change
A product change is a request to convert an existing credit card to a different product from the same issuer.
Product changes can move a card to a lower annual-fee version or to a different rewards structure while keeping the account history. Issuers set their own rules and may limit product changes for a period after opening.
Hard pull
A hard pull is a credit inquiry that occurs when a lender reviews a full credit report as part of a credit card application.
Hard pulls can temporarily lower a credit score. Issuers disclose the possibility of a hard pull on the application page. Multiple hard pulls in a short period may affect future applications. Deep dive: credit card application rules.
Churning
Churning is the practice of opening multiple credit cards primarily to earn welcome bonuses and then closing or product-changing them.
Issuers monitor application patterns and may limit approvals or bonuses for cardholders who open many cards in a short period. Understanding each issuer’s rules helps manage the process. The practice carries risks including hard pulls and potential account restrictions.
Retention offer
A retention offer is a statement credit, bonus points or fee waiver an issuer provides to a cardholder who calls to cancel the card.
Issuers extend these offers to keep valuable accounts open. The offer amount and form vary and are not guaranteed. Calling the number on the back of the card is the usual way to request a retention offer.
Downgrade
A downgrade is a product change that moves a credit card to a version with a lower annual fee or fewer benefits.
Downgrading can reduce ongoing costs while preserving the account’s age for credit history. Issuers allow downgrades on many cards after a period of time. Confirm the resulting card’s rewards structure before requesting the change.
Charge card and credit card
A charge card requires the full balance to be paid each month while a credit card allows revolving balances with interest.
American Express issues both charge cards and credit cards. Charge cards may offer Pay Over Time options that allow revolving on certain charges. Credit cards have a preset credit limit.
Manufactured spending
Manufactured spending is the practice of generating credit card purchases through methods that do not involve ordinary personal or business expenses.
Definitions vary and issuers set their own rules on what purchases count toward bonuses or rewards. This entry defines the term only.
These credit card terms govern how points are earned and how cards are managed. Matching category earn to spending patterns and meeting minimum spend on everyday purchases supports earning welcome bonuses.
Redemption Terms
Redemption terms describe how you turn points or miles into flights or hotel stays. Understanding saver versus dynamic pricing, stopovers, open-jaw tickets and related fees helps you plan trips that use fewer points. These concepts come from how airline and hotel programs release inventory and set rules.
Saver Awards
Saver awards are the lower, often fixed or chart-based number of miles required for a seat.
They are usually the only inventory available to partner programs and offer the best value. When an airline publishes a chart, saver rates stay consistent even if cash prices rise. Partner programs typically see only these lower-cost seats, so confirm the seat exists at the saver level before you transfer points. Dynamic pricing on the operating carrier’s own site may show the same seat at a much higher mileage cost.
Dynamic Awards
Dynamic awards are redemptions whose mileage price changes with demand in a manner similar to cash fares.
The price can rise sharply when flights fill or departure nears. A seat that costs a modest number of miles on a quiet day may require far more on a peak date. Programs that use pure dynamic pricing make planning harder because the same route can cost double or triple the miles from one day to the next. Always check current pricing before transferring.
Dynamic Pricing
Dynamic pricing is the practice of setting award prices that float with demand rather than following a fixed chart.
Many airlines and hotels have moved away from published charts toward dynamic models. This means the number of points required can change daily. Travelers who book early or on less popular dates often find lower prices. Confirm availability and the exact cost on the program’s site before moving points, because most transfers are final.
Stopover
A stopover is a stay of more than 24 hours in a connecting city on the way to a final destination.
Some airline programs allow stopovers on award tickets, letting you visit a second city without a separate ticket. Air Canada Aeroplan permits one stopover per direction of travel with a maximum duration of 45 days, and additional points are required. Check the specific program’s rules for geographic limits and any extra cost before you build the itinerary. Deep dive: Award stopover rules
Open-Jaw
An open-jaw is a round-trip award where the traveler flies into one city and returns from a different city, covering the gap independently.
This structure works well for multi-city trips. You might fly into Paris and return from Rome, then arrange your own ground transport between the two. Many programs price open-jaw awards similarly to a simple round-trip when both legs use the same alliance or partner. Confirm the program allows open-jaws and that space exists on both legs before transferring.
Fuel Surcharge
A fuel surcharge is a carrier-imposed fee added to some award tickets on top of the mileage cost.
Also called a carrier-imposed surcharge, it can range from modest to several hundred dollars depending on the airline and route. Some programs pass these fees through on partner awards; others absorb them. Always review the total cash out-of-pocket amount before completing a booking. Programs with low or no carrier-imposed surcharges often deliver better overall value.
Points + Cash
Points + Cash is a redemption option that combines a reduced number of points or miles with a cash payment.
This hybrid approach can stretch a smaller points balance or unlock awards that would otherwise require more points than you hold. The cash portion is usually fixed or calculated by the program. Compare the total value against a pure points or pure cash booking, because the cash component can reduce the cents-per-point return.
Upgrade Award
An upgrade award is a redemption that moves a traveler from a lower cabin to a higher cabin using points or miles.
Some programs sell confirmed upgrades; others clear space-available upgrades closer to departure. Upgrade awards often require both the base fare and the upgrade instrument or mileage. Availability is typically tighter than standard awards. Check the program’s upgrade chart or dynamic price and any elite-status benefits that may improve clearance odds.
Peak and Off-Peak Pricing
Peak and off-peak pricing means award costs vary by date, with higher prices on popular travel dates and lower prices on quieter ones.
Many hotel and airline programs publish calendars that label dates as peak, standard or off-peak. Booking off-peak dates can reduce the points required by 20 percent or more. Always consult the current calendar on the program’s site, because classifications can change.
Positioning Flight
A positioning flight is a separate ticket that gets you to the city where a better award itinerary begins or ends.
Travelers sometimes buy a cheap cash ticket to a hub that has strong award availability, then use points for the long-haul portion. The positioning flight is paid separately and is not part of the award ticket. Factor its cost and connection time into the overall trip plan.
Close-In Booking Fee
A close-in booking fee is a cash charge some programs add when an award is booked within a short window of departure.
The window is often 21 days or less, though it varies. Not every program imposes this fee. Review the program’s award rules before you transfer points for a last-minute trip so the total cash cost is clear.
Redeposit Fee
A redeposit fee is the cash amount a program charges to cancel an award and return the points or miles to your account.
Some programs waive the fee for elites or for cancellations made well in advance. Others charge a flat fee or a percentage. Check the cancellation policy before you transfer, because an irreversible transfer followed by a costly redeposit can erase value.
Mixed-Cabin Award
A mixed-cabin award is a single ticket that includes segments in different classes of service.
You might fly business class on the long-haul leg and economy on the short domestic connection. Programs price these itineraries according to their own rules, sometimes using the highest cabin for the whole ticket and sometimes pricing each segment separately. Confirm how the program calculates the total before you book.
Phantom Availability
Phantom availability is award space that appears bookable on one site or tool but cannot actually be ticketed.
It often results from lagging inventory systems or cached data. The safest practice is to verify space directly on the operating carrier’s or the mileage program’s own website before transferring points. If a tool shows space that the official site does not, treat it as unavailable.
Sweet Spot
A sweet spot is a redemption that consistently delivers high value relative to the points required.
Classic examples include short-haul business-class awards on certain partners or off-peak hotel nights in high-cash markets. Sweet spots change when programs alter charts or ratios. Research current options and confirm space exists before moving points. Deep dive: Points valuations
Companion Pass
A companion pass is a benefit that lets a second traveler fly with the primary traveler for a reduced fare or a small fee.
Southwest’s Companion Pass is the best-known version; other programs offer limited companion certificates. Requirements usually involve earning a set number of qualifying points or segments in a calendar year. The pass typically covers the companion’s base fare while taxes and fees remain due.
Free Night Certificate
A free night certificate is a credit that covers one night at a hotel within a stated category or point cap.
Many co-branded hotel cards issue an annual free night after the account anniversary or after a spending threshold. Certificates usually expire after a year and must be used within the program’s rules. Confirm the eligible properties and any blackout dates before you plan around the certificate.
Fifth Night Free
Fifth night free is a hotel program benefit that waives the points cost of the fifth night on a five-night award stay.
Marriott Bonvoy offers this on award stays of five or more consecutive nights at the same property. The first four nights are priced normally; the fifth costs zero points. The benefit applies to standard awards and can improve the average nightly cost of longer stays.
Hyatt Category
A Hyatt category is the tier World of Hyatt assigns to a property that determines the number of points required for a free night.
Categories range from 1 to 8, with higher numbers costing more points. From October 1, 2026, Chase Ultimate Rewards points from Sapphire Preferred and Ink Business Preferred transfer to World of Hyatt at 4:3, while Sapphire Reserve remains 1:1. Check your specific card’s terms before transferring. Deep dive: World of Hyatt
Tool and Program Terms
These terms cover the tools, networks and status concepts that help you find award space, access lounges and maximize partner programs.
Priority Pass
Priority Pass is an independent lounge-access network that many premium credit cards include as a benefit.
Membership lets you enter participating airport lounges worldwide. Access rules vary by card: some offer unlimited visits, others limit guests or charge a fee after a set number of visits. Check the exact terms on your card page. Deep dive: Best credit cards for lounge access
Lounge Access
Lounge access is the ability to enter an airport lounge before a flight, usually for complimentary food, drinks and quiet space.
Access can come from a credit card benefit, elite status, a paid membership or a day pass. Policies differ on guesting and on which lounges are included. Confirm the specific lounges covered by your card or status before you rely on them. Deep dive: Best credit cards for lounge access
Alliance
An alliance is a group of airlines that share frequent-flyer benefits, award space and elite recognition.
The three major alliances are Star Alliance, oneworld and SkyTeam. Miles from one member can often book award space on another member, and elite status may bring benefits such as lounge access or extra baggage on partner flights. Availability is still controlled by the operating carrier.
Elite Status
Elite status is a tiered recognition level in an airline or hotel program earned through flying, staying or spending.
Higher tiers unlock benefits such as upgrades, lounge access, bonus points and waived fees. Status requirements are published on each program’s site and can change annually. Credit cards sometimes accelerate status earning through bonus points or qualifying-night credits.
Loyalty Points
Loyalty Points are the currency some programs use to track progress toward elite status.
American Airlines AAdvantage uses Loyalty Points for status qualification. Other programs use qualifying miles, segments or nights. Earning Loyalty Points does not always equal redeemable miles; the two balances are tracked separately. Review the program’s qualification rules for the current year.
Travel Portal
A travel portal is the online booking site operated by a credit-card issuer where you can redeem points for flights, hotels and other travel.
Chase Travel, Amex Travel and Capital One Travel are common examples. Redemptions through the portal often use a fixed cents-per-point rate and may not require award space. Transferring to partners can produce higher value when saver space exists, so compare both options.
Shopping Portal
A shopping portal is a website or browser extension that awards extra points or miles when you click through to retailers.
Issuers and airlines operate portals that track purchases and post bonus points after the merchant confirms the sale. Rates change frequently and some categories are excluded. Always start the shopping session through the portal link so the bonus is tracked.
Dining Program
A dining program is a loyalty offering that awards extra points or miles when you dine at participating restaurants.
Several airline and hotel programs run dining programs that link to your credit card or member number. Enrollment is usually free.
Award Search Tool
An award search tool is a third-party website or app that aggregates award availability across multiple programs.
Tools such as Seats.aero and point.me help locate space quickly. Results should always be verified on the official program site before you transfer points, because inventory can change and phantom space can appear. Deep dive: Best award search tools
Pooling
Pooling is the ability to combine points or miles from multiple accounts, often within a household, for a single redemption.
Some programs allow free pooling; others charge a fee or restrict it to authorized users. Chase Ultimate Rewards points can be combined across eligible cards held by the same person.
Bottom Line
Mastering these redemption and program terms lets you turn transferable points into high-value flights and hotel stays. Always confirm award space and the current transfer ratio on the issuer’s or program’s own site before you move points, because most transfers are final. Start with one transferable card, earn the welcome bonus, then expand as your comfort grows. Start here
FAQ
What is the Chase transfer ratio to World of Hyatt?
From October 1, 2026, Ultimate Rewards from Sapphire Preferred and Ink Business Preferred transfer to World of Hyatt at 4:3. Sapphire Reserve remains 1:1. Check your card’s terms for the exact rate.
Which hotel programs can I transfer Chase Ultimate Rewards to?
IHG One Rewards, Marriott Bonvoy and World of Hyatt (Wyndham Rewards on some Chase cards).
What is phantom availability?
Award space that appears bookable on a search tool but cannot actually be ticketed. Always verify on the official program site before transferring points.
How does a free night certificate work?
It covers one night at a hotel within a stated category or point cap. Many co-branded cards issue an annual certificate after the account anniversary.
Are points transfers reversible?
No. Transfers to Chase partners must be made in increments of 1,000 and are final. Similar rules apply to other transferable currencies.