Hilton 30% bonus yields under 0.9 cpp: skip it.
A 30% transfer bonus from Amex Membership Rewards to Hilton Honors sounds like a deal, but Hilton's recent devaluations have cut the value of a Hilton point to just 0.35 cents. Even with the bonus, which boosts the normal 1,000:2,000 ratio to 1,000:2,600, your Membership Rewards points are worth less than 0.9 cents each — well below the 1 cent per point you'd want from a transfer. Unless you have a specific redemption that delivers outsized value, this bonus is a trap.
the play
Skip this transfer bonus unless you have a Hilton stay booked that nets you over 1 cent per Membership Rewards point; otherwise, hold your points for better options before September 30.
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This drop was reframed from a real reader question asked around the web. Written with the assistance of a language model in the voice of Vanessa Bloome.