Transfer Partner
A transfer partner is an airline or hotel loyalty program that accepts point transfers from a bank rewards currency. Chase Ultimate Rewards has 14 partners, Bilt Rewards has 25 (19 airlines and 6 hotels), and most transfers happen at a 1:1 ratio, converting bank points into miles or hotel points.
Transfer partners are what make transferable points valuable: instead of redeeming through a bank portal at a fixed rate, you convert points into a partner's currency and book awards directly with the airline or hotel.
How it works. Each bank currency has its own partner list. Chase Ultimate Rewards partners include United, Southwest, Air Canada Aeroplan, British Airways, and World of Hyatt. Bilt Rewards has 25 partners — 19 airlines and 6 hotels including Hyatt, Hilton, Marriott, IHG, Accor, and Wyndham — all at 1:1. Ratios matter: since June 15, 2026, Chase transfers to Hyatt at 4:3 from the Sapphire Preferred, while the Sapphire Reserve keeps 1:1.
Example. A one-way United saver award to Europe can be booked through Air Canada Aeroplan; transferring 60,000 Chase points 1:1 to Aeroplan covers a 60,000-point business-class award that often sells for $2,500+ in cash.
Common mistakes: assuming every partner is 1:1 (check the ratio first), and forgetting that partner airlines can book seats on their alliance partners — you don't need United miles to fly United. See the full Chase partner list.