Why the only thing better than transferable points is INSTANTLY transferable points
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This article is part of an introductory series which we’ve been running this week whilst we wait for the January newsflow to pick-up.
One of the key ideas I push on Head for Points is that transferable, or convertible, points are better than non-transferable points.
The best way to explain this is via American Express Membership Rewards points, earned from American Express Preferred Rewards Gold, The Platinum Card and the Amex Rewards Credit Card.
You can transfer 1 American Express Membership Rewards point into 1 Avios. You might think, therefore, that 1 Amex point is worth the same as 1 Avios. IT ISN’T.
1 American Express Membership Rewards points is worth MORE than 1 Avios. This is because, as well as converting to 1 Avios, it will also convert into 1 Virgin Point, 1 Etihad mile, 1 Flying Blue mile, 2 Hilton points, 1.5 Marriott points, 3 Radisson points, 0.5p of shopping vouchers, 0.45p of statement credit etc etc.
As well as giving you more choice, transferable points are also defensive. Even if you intend to convert your Amex points to Avios, it makes sense to keep them with Amex until the last minute. If you move them to Avios and British Airways moves the goal posts in terms of points needed or availability then you’re stuffed.
Other convertible points currencies include:
- HSBC Premier credit card points (12 airline and hotel partners)
- Tesco Clubcard points (Virgin Points plus many non-travel partners)
- Heathrow Rewards (various airline partners as well as shopping discounts)
You could, arguably, include Marriott Bonvoy points in this list too. It is the only hotel scheme where you get genuine good value if you convert your points to airline miles. This article looks at the 40 Marriott Bonvoy airline partners.
I do NOT include Nectar on this list, because transfers between Nectar and Avios are 2-way. It doesn’t matter where your points sit, because you can move them in either direction, albeit with a slight loss of value.
So …. convertible points are worth more than non-convertible points.
That is stage one. There is a second stage however ….. INSTANTLY convertible points are worth more than all other convertible points.
One – sensible – argument against not converting your points until you need them is that the transfer takes time. Even transfers which are quick, such as American Express transfers to Avios, still require you to wait overnight. It is possible that the redemption seat you wanted may have gone when they arrive.
What you want is an instantaneous transfer. This is your dream result. You can look for the seat you want and, when you find it, move the points and immediately book without any risk of losing the seat.
Where can you find instant transfers? Here are your options:
- you CAN do it with Heathrow Rewards to Emirates (according to reader reports – I have not done this myself)
- you CAN do it with NatWest Rewards points to Emirates
- you can’t do it with Heathrow Rewards or hotel points transfers to other airlines, as far as I know, or with NatWest Rewards transfers to Avios
- you CAN do it with Tesco Clubcard transfers to Virgin Atlantic (anyone signed up to auto-conversion can request a transfer of their current points balance, if it is 150+, at any time and the transfer is instant)
- HSBC Premier (instant for all partners, we think)
- American Express (some partners)
There is one other UK Avios partner which allows instant transfers – Capital On Tap, via their Business Rewards Visa card for SMEs. You can learn more about Capital On Tap’s Avios earning credit card here. There is an exclusive sign-up bonus for HfP readers of 10,500 Avios.
Which American Express partners offer INSTANT transfers?
As far as I know, the list of Membership Rewards partners which transfer instantly is:
- Delta SkyMiles
- Emirates Skywards
- Virgin Atlantic Flying Club
- Qantas (based on reader feedback)
- Marriott Bonvoy
Note that first-time Amex transfers to a new partner may not be instant due to security checks. It makes sense to link your accounts in advance by doing a dummy transfer on the Membership Rewards website.
Which HSBC Premier credit card partners offer INSTANT transfers?
We think that all HSBC Premier card partners are now instant. We have tested a few and all were. Please let us know if you have found any that are not. Let me repeat – we do not guarantee that all of the partners are instant but we haven’t found any yet which are not.
Airline partners:
- Asia Miles
- British Airways Executive Club
- Emirates Skywards
- Etihad Guest
- EVA Air Infinity MileageLands
- Finnair Plus
- Flying Blue (Air France KLM)
- Qantas Frequent Flyer
- Singapore Airlines KrisFlyer
- TAP Miles&Go
Hotel partners:
- IHG One Rewards
- Wyndham Rewards
Remember that HSBC points have a hard three year expiry. They expire irrespective of your activity. You can’t keep them mounting up for decades and you will have to move them at some point. Amex points are better if you are taking a very long term view.
Conclusion
Transferable points, such as American Express Membership Rewards and HSBC Premier points, are more valuable than non-transferable points such as Avios.
The most valuable transferable points of all are those that transfer instantly.
Want to earn more points from credit cards? – December 2024 update
If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.
In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.
You qualify for the bonus on these cards even if you have a British Airways American Express card:
Barclaycard Avios Plus Mastercard
Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review
Barclaycard Avios Mastercard
Get 5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review
You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.
SPECIAL OFFER: Until 14th January 2025, the sign-up bonus on ‘free for a year’ American Express Preferred Rewards Gold is increased to 30,000 Membership Rewards points. This converts into 30,000 Avios. Click here to apply.
SPECIAL OFFER: Until 14th January 2025, the sign-up bonus on The Platinum Card from American Express is increased to 80,000 Membership Rewards points. This converts into 80,000 Avios! The spend requirement is changed to £10,000 in six months for this offer. Click here to apply.
American Express Preferred Rewards Gold
Your best beginner’s card – 30,000 points, FREE for a year & four airport lounge passes Read our full review
British Airways American Express Premium Plus
30,000 Avios and the famous annual 2-4-1 voucher Read our full review
The Platinum Card from American Express
Huge 80,000 bonus points and great travel benefits – for a large fee Read our full review
Virgin Atlantic Reward+ Mastercard
18,000 bonus points and 1.5 points for every £1 you spend Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers:
SPECIAL OFFER: Until 9th December 2024, there are EXCLUSIVE sign-up offers for our readers on the two Capital on Tap small business Visa cards. You can earn 20,000 points on the Business Rewards card and 30,000 points on the new Pro card. Click here to apply.
American Express Business Platinum
50,000 points when you sign-up and an annual £200 Amex Travel credit Read our full review
American Express Business Gold
20,000 points sign-up bonus and FREE for a year Read our full review
Capital on Tap Pro Visa
30,000 points (TO 9TH DECEMBER) plus good benefits Read our full review
Capital on Tap Business Rewards Visa
20,000 points (ONLY TO 9TH DECEMBER) Read our full review
British Airways American Express Accelerating Business
30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review
For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback when you spend at least £2,000 per month.
Barclaycard Select Cashback Business Credit Card
Get 1% cashback when you spend at least £2,000 per month* Read our full review
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