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Update: Some offers mentioned below are no longer available. View the current offers here – Citi ThankYou Premier Card

For a limited time, Citi ThankYou Rewards is offering a 100% bonus on points transferred to hotel partner Hilton HHonors. Normally ThankYou Points transfer to Hilton at 1:1, but through January 8, 2015, you’ll get 2,000 HHonors points for every 1,000 ThankYou Points you transfer.

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Get double Hilton points when you transfer through January 8, 2015.

Since Citi added 9 airline transfer partners this year Citi, Hilton is one of the least valuable ThankYou Rewards transfer partners. In my latest monthly valuations, I list Hilton HHonors points at 0.5 cents apiece, and ThankYou Points at 1.6 cents apiece. That makes transfers to Hilton downright terrible normally, and still pretty bad even with this promotion.  In a vacuum, you can probably find much better ways to use ThankYou Rewards.

Boca Beach Club, a member of the Waldorf Astoria Collection.
Boca Beach Club, a member of Hilton’s Waldorf Astoria Collection.

That said, unless you’re a character in Interstellar, then you probably don’t exist in a vacuum, so there are some scenarios where taking advantage of this transfer bonus makes sense.

  1. If you’re planning a major Hilton award redemption and just need a few thousand points to top off your account, this is an easy way to get them. Even if you don’t already have any ThankYou points to spare, keep in mind that they can be shared between ThankYou Rewards members immediately and at no cost. The only caveat is that shared points expire after 90 days, so don’t transfer them until you’re ready to use them.
  2. If you have a few thousand dormant ThankYou points and you’re planning to close your account, you should use them rather than just let them disappear. Citi lets you redeem ThankYou Points for airfare directly, and offers an array of retail and other gift cards. Both options give you 1 cent per point (more if you have a Citi ThankYou Premier or Citi Prestige card), but if you’d rather have Hilton points, the current transfer bonus at least offers similar redemption value.
  3. Hilton HHonors points expire after 12 months of account inactivity, but points transfers from partners qualify as activity. If you’re approaching that 12 month mark and want to avoid losing your HHonors points, you can transfer 1,000 ThankYou Points to extend the expiration date for another year. Note that transfers may take up to 14 days, so don’t cut it too close.

I wouldn’t transfer points speculatively, since you’d be sacrificing value to begin with, and despite the slew of devaluations Hilton went through last year, it wouldn’t surprise me to see the program tank even further. Unless you have a particular need for HHonors points, save your ThankYou Points for another time.

The Platinum Card® from American Express

The American Express Platinum card has some of the best perks out there: cardholders enjoy the best domestic lounge access (Delta SkyClubs, Centurion Lounges, and Priority Pass), a $200 annual airline fee credit as well as up to $200 in Uber credits, and mid-tier elite status at SPG, Marriott, and Hilton. Combined with the 60,000 point welcome offer -- worth $1,140 based on TPG's valuations -- this card is a no-brainer for frequent travelers. Here are 5 reasons you should consider this card, as well as how you can figure out if the $550 annual fee makes sense for you.

Apply Now
More Things to Know
  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
  • Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
Intro APR on Purchases
N/A
Regular APR
N/A
Annual Fee
$550
Balance Transfer Fee
See Terms
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.