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Update: Some offers mentioned below are no longer available. View the current offers here – Citi ThankYou Preferred Card, Citi Prestige CardCiti ThankYou Preferred Card for College Students, Cit Premier Card

Part of what makes transferable currencies so valuable is their flexibility; your points aren’t trapped in just one program. Even better, sometimes airlines and hotels partner with transferable point programs to offer a transfer bonus.

Today, Citi and Cathay Pacific launched a new transfer bonus that’s appealing for those looking to take advantage of some of the sweet spots of the Cathay Pacific Asia Miles programNow through September 6, get a 20% bonus when transferring Citi ThankYou points to Cathay Pacific’s Asia Miles. Instead of the standard 1:1 transfer rate, you’ll get 1,200 Asia Miles for every 1,000 ThankYou points you transfer.

Citi ThankYou Points Asia Miles transfer bonus

Citi ThankYou point-earning cards include:

  • Citi Prestige Card (sign-up bonus: 75,000 points for $7,500 spend)
  • Citi Premier Card
  • Citi ThankYou Preferred Card (sign-up bonus: 15,000 points for $1,000 spend)
  • Citi ThankYou Preferred Card for College Students (sign-up bonus: 2,500 points for $500 spend)
  • AT&T Access Card From Citi (sign-up bonus: 10,000 points for $1,000 spend)

If you still don’t have enough Asia Miles after transferring miles from ThankYou, you can pick up another 50,000 miles through the Cathay Pacific Visa Signature Card. This card’s sign-up bonus just doubled, too.

Is It Worth It?

In TPG’s July valuations, Citi ThankYou points are worth 1.6 cents each. While this is likely to take a hit due to the elimination of redeeming them for AA revenue flights at 1.6 cents each, you can get plenty of value by transferring points to airline programs such as Asia Miles. Meanwhile, our latest valuation for Asia Miles is around 1.4 cents per mile. With this transfer bonus in place, you’re getting ~1.68 cents per ThankYou point in value.

We go through a long list of potential great uses of Asia Miles in another article. Let’s revisit some of these examples in light of this new transfer bonus:

  • Chicago-Helsinki in Finnair business class for 67,000 ThankYou Points round-trip
  • Los Angeles-Sydney in Cathay Pacific premium economy for 40,000 ThankYou Points one-way
  • New York-Madrid-Rome-Berlin, Vienna-Dusseldorf-New York in business class for 80,000 ThankYou Points round-trip
  • Dallas-Maui, Kona-Los Angeles, Los Angeles-Dallas in economy for 38,000 ThankYou points round-trip

And that’s just scratching the surface. If you’re willing to take the time to learn the ins and outs of the program, there’s a lot you can do with Cathay’s Asia Miles program.

H/T: One Mile At a Time

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