Credit Card Transfer Ratios That Are Not 1 to 1

By Bryce Casson, Founder · Cardocrat · Updated June 2026

The short answer: Most credit card points move to airline and hotel partners at a clean 1 to 1, but a handful of transfers are not, and they can quietly shrink your balance. Amex to Hilton is 1 to 2 in your favor, Marriott to airlines is a poor 3 to 1, and a few partners now give you fewer miles than the points you send. Always check the exact ratio, and whether the transfer moves in fixed blocks, before you hit the button.

The 1-to-1 rule, and its exceptions

The major bank programs, Chase, Amex, Citi, Capital One, and Bilt, transfer to most of their partners at 1 to 1, which is what makes transferable points so flexible and valuable. But being a transfer partner does not always mean a one-for-one rate. A few transfers run at a different ratio, and because a transfer is one-way and almost always irreversible, a bad ratio is a permanent haircut you cannot undo. Knowing the exceptions before you move points is the whole game. See how transferable points work and which bank points transfer best.

The favorable exception: Amex to Hilton

The best-known non-1-to-1 transfer is American Express to Hilton Honors at 1 to 2, where every Amex point becomes two Hilton points. That sounds like instant free value, but be careful, because Hilton points are worth only around half a cent each, so doubling them lands you close to break-even rather than a windfall. It is worth doing when you have a specific Hilton night where the points price beats the cash rate, not as a reflex just because the number doubles. See is it worth transferring Amex to Hilton.

The unfavorable ones: Marriott to airlines, and sub-1-to-1 partners

The classic bad ratio is hotel to airline. Marriott Bonvoy transfers to most airline partners at roughly 3 to 1, so three Marriott points become a single airline mile, and it moves in 60,000-point blocks that tack on a small mileage bonus. For most people that is a poor use of Bonvoy points. Worse still, a few bank-to-airline transfers now run below 1 to 1, meaning you actually receive fewer miles than the points you send, with Amex to Emirates and Cathay reduced after repeated cuts. Never assume; confirm the live ratio. See the Marriott-to-airlines trap and the Emirates ratio cuts.

Check the ratio and the increments before you transfer

Make it a two-part habit. First, confirm the exact transfer ratio for your specific bank-to-partner pairing, since it can differ from the default and changes over time. Second, check the transfer increment, because many programs move only in fixed blocks, often 1,000 points and 60,000 for Marriott, so you cannot always send a precise amount. And weigh the destination currency value: a clean 1-to-1 transfer into a weak program can be worse than a sub-1-to-1 into a strong one. Transfer only once you have confirmed a booking. See how to use a transfer bonus and what points are worth.

Frequently asked questions

Do all credit card points transfer at 1 to 1?

No. Most transfers from Chase, Amex, Citi, Capital One, and Bilt are 1 to 1, but there are exceptions: Amex to Hilton is 1 to 2, Marriott to airlines is about 3 to 1, and a few bank-to-airline transfers now run below 1 to 1, so always check the exact ratio first.

What is the Amex to Hilton transfer ratio?

It is 1 to 2, so each Amex point becomes two Hilton points. That looks generous, but Hilton points are worth only about half a cent each, so the doubling lands near break-even. It is worth it only for a specific high-value Hilton night.

Why is transferring Marriott points to airlines a bad deal?

Because the ratio is roughly 3 to 1, so three Marriott points become one airline mile, and it transfers in 60,000-point blocks. Even with the small bonus miles, you usually get more value using Bonvoy points for hotel nights instead.

Can a transfer give you fewer miles than points?

Yes. A few bank-to-airline transfers now run below 1 to 1, meaning you receive fewer miles than the points you send, with Amex to Emirates and Cathay among those reduced after repeated cuts. Always confirm the live ratio before transferring.

How do I avoid a bad transfer ratio?

Check the exact ratio for your specific bank and partner, check the transfer increment since many move in fixed blocks, and value the destination currency. Because transfers are one-way and irreversible, only move points once you have a confirmed booking.