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The Chase to IHG One Rewards 100% transfer bonus, and why you should skip it
Chase is offering a two-tiered IHG bonus: 100% through July 30, then 70% through August. But the math doesn't work for award travel value.
From July 15 through July 30, 2026, Chase Ultimate Rewards is transferring to IHG One Rewards at a 100% bonus, so 1,000 Ultimate Rewards points become 2,000 IHG points. After July 30, the bonus drops to 70% through August 31 (per Frequent Miler).
What the bonus unlocks
IHG One Rewards points have a floor value: the program frequently runs promotions selling points at 0.5 cents each, and off-sale redemptions via Points + Cash typically land around 0.56 cents per point. Even with the 100% bonus applied, that yields only 1 cent per Chase Ultimate Rewards point transferred.
Is it worth transferring
No. Chase Ultimate Rewards points are flexible and widely valued at 1.5 to 2 cents per point through airline and hotel transfers. A 100% bonus into IHG caps your effective redemption at 1 cent, which is below baseline. You'd also achieve better value transferring to most Chase partners on a straight 1:1 basis, or waiting for a modest 20-30% bonus into a high-value program like Virgin Atlantic or Air France/KLM Flying Blue.
Before you transfer
Don't. The 70% bonus starting July 31 is even worse. If you do have IHG bookings booked far in advance with legitimate award space, confirm the redemption exists before moving any points (check IHG One Rewards directly). Re-check Chase's transfer page for live ratios.