American Express launches 40% Hilton Honors transfer bonus
American Express is offering a 40% bonus on transfers from Membership Rewards to Hilton Honors points, the first such promotion since 2022.
American Express is offering a 40% transfer bonus from Membership Rewards to Hilton Honors points for a limited period, increasing the transfer rate to 2.8 Hilton points per Membership Rewards point. The promotion applies to transfers made between September 29 and November 24, 2026.
This is, as far as I can tell, the first Hilton Honors transfer bonus since 2022. The standard transfer rate is one Membership Rewards point to two Hilton Honors points. With the 40% uplift, that rate improves to one to 2.8.
Eligibility and transfer rules
The bonus applies to transfers from eligible American Express cards, including the Gold, Platinum, Business Gold, and Business Platinum cards. Transfers must be made in specific increments, with minimum and maximum limits per transaction.
| Transfer Rule | Detail |
|---|---|
| Minimum Transfer | 200 Membership Rewards points |
| Maximum Transfer | 499,950 Membership Rewards points |
| Transfer Increment | 50 Membership Rewards points |
Standard Hilton Honors points are transferred within five business days. The additional 40% bonus points may take up to 20 business days to appear, and the standard and bonus points may be credited to a member's account at different times.
Value comparison and context
The enhanced transfer rate presents a strong value proposition for points holders. Based on an author valuation of Hilton Honors points at 0.33p each, the 40% bonus raises the value yielded from each Membership Rewards point to 0.92p when transferred to Hilton.
This outperforms the cost of purchasing Hilton points directly during the brand's own sales. Hilton regularly offers 'buy points' bonuses, including 100% bonuses. During such a promotion, Hilton Honors points can be purchased for 0.38p each. Buying 2.8 points would therefore cost 1.1p, making the American Express transfer bonus the more cost-effective route to acquiring points.
The offer makes Hilton redemptions more competitive with airline mile valuations, which have a base valuation of 1.0p. However, at 40%, I am interested.
Historical significance and timing
This promotion is notable for being the first of its kind in four years. The previous offer in 2022 provided a 30% transfer bonus. The current campaign runs from late September to late November 2026, offering cardholders a window to boost their hotel points ahead of potential travel plans.
The author plans to stay at Waldorf Astoria New York later in October and has previously covered such stays by converting Membership Rewards points to Hilton Honors without a bonus.
