AwardWallet receives compensation from advertising partners for links on the blog. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
Update: Ramp Rewards launched its transferrable points program on April 25, 2024.
Launching transferrable points programs seems to be the latest trend, and we couldn't be happier to see it. Earlier this month, Wells Fargo Rewards launched new transferrable partners. Now, it seems Ramp Rewards is on the verge of doing the same.
Details are still scarce. But it's exciting anytime a program gives travelers additional options for using their points. Here's what we know so far.
Ramp Rewards Transfer Partners: What We Know So Far
For now, we know of just one program that's set to become a Ramp Rewards transfer partner. This seeming slip-up is how we knew to look into the situation in the first place.
Wyndham Rewards recently made a small but noteworthy change deep in its terms and conditions. Among what originally seemed to be a routine clarification of which partner programs are available in which countries, Wyndham added a new line: “Ramp (US only)”.
This addition suggests that Ramp has a rewards program with points that transfer to Wyndham Rewards. But Ramp doesn't mention a transferrable points program anywhere on its website.
So, I contacted Ramp about this and asked if it plans to change its existing cash back-based rewards program to include transferrable partners. And Ramp's response clearly indicates that something is brewing:
“We're not able to share details at this time, but when we have updates we'll circle back with you.”
Hoping to have more to share with you here, we scoured other airline and hotel program terms and conditions for any mention of Ramp Rewards. But we couldn't find any more leaks.
What is Ramp Anyway?
Ramp is a business finance tool that bills itself as a “finance automation platform designed to save you time and money.” Business owners can issue physical or virtual corporate cards for business spending, automate expense reporting, quickly import and pay bills, and then export all of these transactions to your accounting software.
Ramp currently boasts that over 25,000 companies use its services — including big names like Quora, Shopify, Eventbrite, and Discord. Kinda like Brex — at least before Brex closed itself down to most small businesses.
How Could Transfer Partners Change Improve the Ramp Card?
A key part of the Ramp platform is the Ramp Visa Corporate Card. Small business owners can issue an unlimited number of physical or digital Ramp Corporate Cards to themselves and their employees for business purchases. Each Ramp Corporate Card can be set up with individual spending limits and controls, and spending automatically integrates into larger project budgets.
The Ramp Corporate Card currently earns an unlimited 1.5% cash back on all purchases. That's not a bad return on spending on a no-annual-fee card — but our list of top small business cards offers several more appealing options for big spenders.
While 1.5% cash back isn't the most exciting earning rate, earning 1.5X transferrable points on all purchases could be much more appealing.
However, the value will hinge on which transfer partners Ramp adds and the transfer rate. In order for cardholders to get more value out of transferring points to partners, the transfer partners will need to provide more than 1 cent per point in value and points transfer at a 1:1 transfer rate. Otherwise, business owners might as well stick with earning cash back.
Wyndham Rewards is a good start to Ramp's seemingly imminent transferrable rewards program. In recent AwardWallet user redemptions, users have redeemed Wyndham Rewards points for an average of 1.24¢ per point. That's thanks to valuable uses like Wyndham Vacation Club condo rentals from 7,500 points per night and vacation homes from 15,000 points per night. Even better, Wyndham cardholders save 10% off all redemptions.
The key will be whether Ramp also adds even-more-valuable transfer partners like Air Canada Aeroplan (1.84¢ average redemption rate) and United MileagePlus (1.93¢), or less-valuable partners like Hilton Honors (0.59¢) and IHG Rewards (0.68¢)
Final Thoughts
Although details are still slim, Ramp seems to be on the verge of launching a new transferrable points program. Depending on the transfer partners and conversion rates, this addition may make the business finance platform even more appealing for small business owners.
So far, we only have an indication that Wyndham Rewards will be a transfer partner. As long as points transfer at a 1:1 ratio, that's not a bad start to the program. The key will be to see what other transfer partners Ramp adds.
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.