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Chase has brought back a Marriott transfer promotion that we seem to see appear every few months, but this time around the bonus on offer is considerably higher than the 40% – 50% bonuses we usually see.
Chase Ultimate Rewards offers transfers to just three hotel loyalty programs and one of these is Marriott Bonvoy.
Right now, the bank is offering a 65% bonus on all Ultimate Rewards Points transferred over to Marriott by 11:59 PM ET on 30 June 2025 (the bonus will then drop down to 50% for transfers made between 1 July and 15 August 2025) and for some people, this could represent a very good deal.
Note: This isn’t quite as good as the 70% transfer bonus that we saw offered in August last year, but I think this may be the highest Chase to Marriott transfer bonus that we’ve seen this year.
The numbers
Here at TFM we value Ultimate Rewards points at 1.5 cents each (based on the value that we know we can get out of our points with very little effort) and, as valuations go, this is probably one of the more conservative valuations you’ll see.
When it comes to Marriott Bonvoy points, we struggle to value them at anything higher than 0.6 cents each, so with this transfer bonus seeing Ultimate Rewards Points converting to Marriott Bonvoy points at a ratio of 1 to 1.65, we’re essentially being asked to convert points worth 1.5 cents each into points worth 0.99 cents.
On the face of things that looks like a bad deal (and for many people it will be), but there will be times when a transfer from Chase to Marriott can make sense (when a bonus is offered), so it’s important not to dismiss this deal without further consideration.
Here are some examples of what this can look like.
On a randomly selected night in September, the JW Marriott Chicago is, at the time of writing, charging guests $942 or 76,000 points.
By using points instead of cash to make this booking, a Marriott Bonvoy member could get approximately 1.24 cents of value out of every Bonvoy point used, and that’s pretty good when you consider that they’re not worth more than 0.6 cents each, and when you consider that Marriott will sometimes sell points from ~0.83 cents each.
With the 65% transfer bonus that’s now on offer, enough Bonvoy points to make this booking can be generated from 47,000 Ultimate Rewards Points which, based on our valuation of 1.5 cents/point, are worth $705.
In this example, a transfer of Chase Ultimate Rewards Points to Marriott would see a guest effectively pay $705 for a night which would otherwise have cost $942.
That’s a saving of $237 on a one-night stay.
On another randomly selected night in September, the JW Marriott Houston is, at the time of writing, charging guests $604 or 54,000 points.
By using points instead of cash to make this booking, a Marriott Bonvoy member could get approximately 1.11 cents of value out of every Bonvoy point used which, again, is very good going.
With the 65% transfer bonus that’s now on offer, enough Bonvoy points to make this booking can be generated from just 33,000 Ultimate Rewards Points which, based on our valuation of 1.5 cents/point, are worth $495.
Here, a transfer of points between Chase and Marriott would see a guest effectively pay $495 for a night which would otherwise have cost $604.
That’s a saving of $109 on a one-night stay.
Finally, the Ritz-Carlton Coconut Grove, Miami is, at the time of writing, charging guests $993 or 60,000 points on a randomly selcted night in October.
If you already have enough Marriott Bonvoy points for this booking, this can be a great deal as you’d get approximately 1.66 cents of value out of each Bonvoy point you use (that’s incredible for a currency as weak as Bonvoy).
With the 65% transfer bonus that’s now on offer, you would generate enough Bonvoy points to make this booking from just 37,000 Ultimate Rewards Points which, based on our valuation of 1.5 cents/point, are worth $555.
In this example, a transfer of points between Chase and Marriott would see a guest effectively pay $555 for a night which would otherwise have cost $993.
That’s a fantastic saving of $438 on a one-night stay.
5-night stays can make things look even better
Things can look even better on stays of 5 nights thanks to the 5th night free deal that’s open to Marriott Bonvoy members on award bookings.
A 5-night stay at the Ritz-Carlton Bal Harbour in January, for example, can cost $1,925/night ($9,625) or 406,000 points.
Enough Bonvoy points for this booking can currently be generated from 247,000 Ultimate Rewards Points which, based on our valuation of 1.5 cents/point, are worth $3,705.
What this means is that someone transferring Chase Points over to Marriott while the 65% bonus is being offered could, effectively, reserve this 5-night stay with points worth $3,705 instead of cash totalling $9,625.
That’s a saving of $5,920 or ~61%.
Yes, this is an extreme example, so there will be plenty of other examples where transferring Chase points over to Marriott makes no sense whatsoever. But that was already mentioned towards the beginning of this article.
What we’re trying to show with this example is that what may appear to be a terrible deal at first glance, will not be terrible in all circumstances.
If you’re booking high-end properties that cost a lot, a transfer of Chase points may be a very good way to save a significant amount of money even though Marriott Bonvoy now uses dynamic pricing.
Bottom line
Much of the time, the numbers will show that transferring Ultimate Rewards Points to Marriott Bonvoy is a poor value proposition regardless of what transfer bonus we see offered. This is down to the fact that UR Points are so much more valuable than Bonvoy points.
As shown above, however, there will be times when a transfer makes sense because despite first appearances, it can save a Bonvoy Member a substantial sum of money.
If you’re topping up an account or booking a standard room at a property where prices are high (especially if you’re booking a 5-night stay), then a transfer from Chase may offer good savings, but make sure you check the numbers before you enact any transfers as there’s no going back.
Featured image: Ritz-Carlton St Thomas
