Q2 2026 transfer bonuses: the Chase + Amex moves worth making in May
May 2026 has the heaviest transfer-bonus density of any month in 12 months across the major flexible-points programs. Here is what is active and what to time.
- ~38,500 Amex MR + ~$30 cash
- 1.81 cpp net of cash co-pay.
- 40,000-52,000 UR each way + ~$310 in YQ
May 2026 is shaping up as the heaviest transfer-bonus month of any month in the past 12. Four of the five major flexible-points programs have at least one active 25%+ bonus running, and two of them (Amex MR → Virgin Atlantic, Chase UR → Air France-KLM Flying Blue) are the highest bonuses we've seen on those partners in over a year. If you've been holding flexible points waiting for a bonus, this is the month to deploy.
Active bonuses (verified May 6, 2026)
| From | To | Bonus | Ends |
|---|---|---|---|
| Amex Membership Rewards | Virgin Atlantic Flying Club | 30% | May 30, 2026 |
| Chase Ultimate Rewards | Air France-KLM Flying Blue | 25% | May 27, 2026 |
| Capital One Miles | Avianca LifeMiles | 30% | June 4, 2026 |
| Citi ThankYou | Singapore KrisFlyer | 25% | May 19, 2026 |
| Bilt Rewards | Hyatt | (no bonus this month — base 1:1) | — |
The two highest-leverage moves
Amex MR → Virgin Atlantic 30% — book Delta One transcon
Virgin Atlantic Flying Club's Delta partner award chart is one of the best-kept sweet spots in the US. JFK / BOS / SEA → LAX one-way in Delta One typically runs 50,000 Virgin points + ~$30 in taxes. With the 30% bonus, that drops to ~38,500 Amex MR + ~$30 cash. Cash for the same Delta One seat in May 2026 has been pricing $700-1,100 each way.
Cents-per-point math: $700 cash / 38,500 MR = 1.81 cpp net of cash co-pay. The same Delta One seat redeemed via Delta SkyMiles dynamic pricing usually requires 100,000-180,000 SkyMiles depending on date — a 4-5x worse redemption rate.
Chase UR → Flying Blue 25% — Air France business to anywhere in Europe
Flying Blue Promo Reward windows are unpredictable, but Promo Reward inventory on Air France business class to secondary European cities (NCE, MRS, BOD, LYS, TLS) has been wide open in May 2026. Promo Reward typically discounts to 50,000-65,000 Flying Blue each way for business — with the 25% Chase bonus, you're paying 40,000-52,000 UR each way + ~$310 in YQ.
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The traps
Capital One Miles → Avianca LifeMiles at 30% looks generous on paper but the catch is timing: LifeMiles processing takes 24-72 hours, and award availability you saw at transfer time can disappear before the points arrive. Always confirm the saver seat is still showing in LifeMiles search before initiating the transfer. See the full Capital One → LifeMiles guide for partner-by-partner saver-availability tips.
Citi ThankYou → Singapore KrisFlyer 25% is also strong on paper, but Singapore Suites + Business saver inventory between US and SIN has been particularly tight for the rest of 2026. The bonus window ends May 19 — if you can't lock in a saver seat by then, the bonus is wasted.
The optimal play if you only have a few hours to act
Speculatively transferring (moving points before you have a confirmed saver seat) is the single most common mistake we see. The cleanest pattern:
- Search for saver availability FIRST in the partner program (LifeMiles search, Flying Blue search, etc.)
- Lock the seat with a small "placeholder" transfer of just enough points (most loyalty programs let you book once you have the points balance, which can be combined with a household member's balance)
- Then transfer the bulk of your stash from the bank program once the seat is locked
This keeps you from being stranded with an orphaned partner balance if your dream itinerary disappears mid-transfer.
Pointify monitors all active transfer bonuses across the major US bank programs in real time at /points/bonuses. We send alerts the moment a new bonus activates so you have the full window to plan.
About the author
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The Pointify team analyzes loyalty programs, fare data, and booking strategies across 300+ airlines and major award programs. Our goal: help you get maximum value from every point and mile.
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