Today Only: (Effectively) Buy United Miles for 1.67 Cents Each

IHG is currently running a flash sale to sell points with a 100% bonus, dropping the cost to just 0.5 cents per point. Meanwhile, United is running a 50% transfer bonus for transferring IHG points to United miles. Instead of transferring at a 5:1 ratio, you'll get 3,000 United miles for every 10,000 IHG Rewards points transferred.

This opens a great sweet spot for just a few more hours: effectively buying United miles for just 1.67 cents per mile.

Here's how to take advantage of this offer:

• Buy at least 26,000 IHG points to get the maximized 0.5 cents per point purchase rate. You need to complete your purchase by 11:59pm Eastern Time on June 15 to get 100% the bonus.
• Once your points post to your IHG Rewards account, you can transfer the IHG points to United. Call IHG Rewards at 1-888-211-987 to initiate the transfer. You'll need to transfer points by June 30 to get the 50% bonus.

If you maximize this deal, you can buy 200,000 IHG Rewards points for $1,000 and transfer these points to United to net 60,000 United miles at an effective rate of 1.67 cents per mile.

H/T: Loyalty Lobby