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Update 10/21/16: Hilton has extended this promotion, giving you an opportunity to buy points for 0.5 cents each through October 31.
Now through October 21, you can earn up to a 100% bonus on Hilton HHonors point purchases. This promotion is tiered, and it requires buying a minimum of 10,000 points to earn the bonus. You’ll earn 80% extra points when you purchase 10,000 to 19,000 points, and you’ll earn a 100% bonus when you buy 20,000 points or more.
If you were to max out this bonus by purchasing 80,000 points (the limit for how many you can buy in a calendar year), you’d score a total of 160,000 points for $800. That equals a cost of 0.5 cents per point, which happens to be on par with TPG’s latest valuation of Hilton HHonors points. It’s always best to avoid paying more than a loyalty currency’s valuation when you’re buying points or miles, but it’s even better to pay less than their valuation so you’re really getting a deal. That said, if you’re planning a trip and would like to book a Hilton award stay, it could ultimately save you money to purchase points during this promo — especially if you’re planning to stay at a higher-tier property with expensive cash rates.
The promotion isn’t as great if you’re buying less than 20,000 points. 15,000 points would cost you $150, and with the 80% bonus you’d get a total of 27,000 points. That works out to a cost of 0.56 cents per point — just above the 0.5-cent valuation. That’s definitely more favorable than the standard cost of 1 cent per HHonors point, but it’s not good enough to justify purchasing points without a redemption in mind.
Other Ways to Earn
If you’re looking to boost your HHonors account balance, keep in mind that purchasing points isn’t your only option. In fact, two Hilton co-branded credit cards are currently offering increased sign-up bonuses, so it could be worth applying for one or both.
The Hilton HHonors Surpass Card is offering 100,000 HHonors points after you spend $3,000 in the first three months. The card also gets you complimentary HHonors Gold status, and you’ll earn 12 points per dollar on Hilton stays. There’s a $75, and a 2.7% foreign transaction fee. This sign-up offer is available until November 30, 2016, so be sure to sign up by then if you’re interested.
Another option is the Citi Hilton HHonors Visa Signature Card, which is currently offering 75,000 points when you spend $2,000 in the first three months. That’s enough points for a night at a Category 8 property like the Drake Hotel in Chicago, and it’s definitely a solid offer considering this card doesn’t charge an annual fee. Other perks include automatic HHonors Silver status and an annual loyalty bonus of 10,000 points when you spend $1,000 or more on Hilton stays in a calendar year. It’s not clear when this sign-up bonus expires, so you might want to act sooner than later.
Purchasing Hilton points for 0.5 cents apiece isn’t a terrible deal, but it’s not amazing enough to justify buying them speculatively. If you do have a specific redemption in mind, it could make sense, but make sure to consider your other options — including credit card sign-up bonuses — as well.
Featured image courtesy of the Hilton Bentley Miami South Beach Hotel.
Will you be taking advantage of this promotion?
This card is one of several solid options for Hilton guests, and it offers some outstanding benefits like no annual fee, complimentary HHonors Silver status and getting the fifth night free on award redemptions. This card also lets you upgrade to HHonors Gold status when you $20,000 on the card in a calendar year or complete four eligible stays within the first 90 days of account opening.