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The key to successful rewards travel is flexibility. Flexible rewards points let you transfer to a wide range of travel partners. This gives you more ways to book award travel to your destination while maximizing the value of your rewards.
Choosing the best flexible points program is highly personal. It depends on your travel goals, where you live, how you spend, and how you prefer to travel.
If you stay mostly in Airbnbs or hostels, collecting points that transfer to hotel chains like Hilton or Hyatt won't deliver much value. But if you prefer high-end stays, earning points that transfer to luxury hotel brands and multiple airlines will give you both value and flexibility. And if you live near a hub for a specific airline, focusing on points that help you fly that carrier might be your highest priority.
Not all flexible rewards currencies are created equal. Before you commit to earning one over another, here’s what makes each one worth considering.
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What Are Flexible Rewards Points?
Cash back cards are popular for their simplicity. You can usually redeem rewards for gift cards or statement credits, typically at a value of 1 cent per point. However, cash back cards offer limited upside. Most earn a flat 1% to 2% back, with higher rates in select bonus categories if the card happens to offer them.
Airline or hotel-specific points and miles can offer better value than cash back, depending on how you use them. But earning rewards tied to a single program limits your redemption options.
However, transferable rewards points can unlock significantly more value. These currencies let you transfer to a variety of airline and hotel partners, which gives you more chances to book with fewer points or access experiences you would not pay for with cash.
Here are seven rewards programs that offer high-value flexible points:
- American Express Membership Rewards
- Bilt Rewards
- Chase Ultimate Rewards
- Capital One Rewards
- Citi ThankYou® Rewards
- Wells Fargo Rewards
- Marriott Bonvoy
Each program offers a mix of useful transfer partners and diverse earning opportunities. You can earn points through credit cards, online shopping, dining programs, and, in Marriott’s case, regular hotel stays and promotions.
Next, we will look at which credit cards earn each type of point, the programs they transfer to, and some of the best ways to redeem them.
Related: Back to Basics: An Introduction to the Types of Reward Points
The Best Flexible Rewards Currencies
American Express Membership Rewards
American Express offers members great options for earning its Membership Rewards points. Whether it’s 5X points on airfare with The Platinum Card® from American Express (on up to $500,000 of airfare purchases per calendar year booked directly with airlines) or earning 4X at restaurants worldwide (on up to $50,000 per calendar year in purchases, then 1X) with the American Express® Gold Card, there's a huge stable of cards that earn Amex points.
Credit card options range from no-annual-fee cards for everyday purchases to ultra-premium cards that offer the best elite perks and lounge access in award travel.
(Terms apply)
- 4X Membership Rewards® Points at restaurants worldwide, plus takeout and delivery in the U.S. (on up to $50,000 per year in purchases, then 1X)
- 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X)
- 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com
- 2X Membership Rewards® points on prepaid hotels and other eligible travel booked on amextravel.com
- 1X on other eligible purchases
(Terms apply)
- Earn 5X points for flights booked directly with airlines or with American Express Travel® (up to $500,000 in purchases per calendar year).
- Earn 5X points on prepaid hotels booked with American Express Travel®.
(Terms apply)
- Earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
- Earn 1.5X Membership Rewards® points on each eligible purchase of $5,000 or more.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. construction material and hardware suppliers.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. electronic goods retailers and software & cloud system providers.
- Earn 1.5X Membership Rewards® points on each eligible purchase with U.S. shipping providers.
- 1.5X earning rates are subject to a cap of $2 million in purchases per calendar year.
Membership Rewards points transfer to 18 different airline partners and three hotel partners. And there's no shortage of excellent ways to redeem them. Here are some of our favorite ways to redeem Amex Membership Rewards points:
- Transfer points to ANA Mileage Club to book round-trip United Airlines business class flights to Europe
- Transfer points to Virgin Atlantic Flying Club to book ANA First Class between the United States and Japan
- Transfer points to Delta SkyMiles to book low-cost domestic flights or business class awards to and from select international destinations
And this is just a small sample of what you can do with Amex transfer partners. For more options, check out the full list of American Express partner programs:
Related: Complete Guide to American Express Membership Rewards Transfer Partners
Bilt Rewards
Bilt Rewards launched in 2021 with a focus on earning points through rent payments. The program has continued to grow and now features 21 transfer partners.
Bilt Points are easy to earn, especially with the The Bilt Mastercard® (Rates & Fees), which offers 3x points on dining, 2x points on travel, and 1x points on rent payments without the transaction fee (up to 100,000 points each calendar year), plus 1x on other purchases. But just remember, you need to use the card five times each statement period to earn points.
- 3x points on dining
- 2x points on travel
- 1x points on rent payments without the transaction fee (up to 100,000 points each calendar year)
- 1x points on other purchases
What sets Bilt apart is its extensive list of transfer partners, including a few exclusive ones, as well as frequent transfer bonuses through Rent Day promotions. Standout partners include:
- United Airlines — Bilt is the only alternative to Chase for United transfers.
- Alaska Airlines — Bilt is the only program that transfers directly to Alaska Mileage Plan.
- World of Hyatt — Only Bilt and Chase transfer to Hyatt, which offers unbeatable value for award stays.
- Accor Live Limitless — While other programs transfer to Accor at a 2:1 ratio, Bilt transfers at 3:2, which gives you 33% more value for your points. This can be especially useful for stays at properties like the Fairmont Banff Springs.
You can find the full list of Bilt transfer partners below:
Chase Ultimate Rewards
Chase Ultimate Rewards is one of the most valuable flexible rewards currencies. The bank offers a wide range of credit cards that earn Ultimate Rewards points, with lucrative bonus categories and practical travel benefits.
With so many card options, it is easy to build a large balance of points over time. Ultimate Rewards points are both flexible and valuable, whether you redeem through the Chase Travel portal or transfer to one of Chase’s many travel partners.
- 5X points on Lyft rides through September 2027
- 5X points on travel purchased through Chase Travel℠
- 3X points on dining at restaurants worldwide
- 3X points on eligible streaming services
- 3X points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2X points on all other travel
- 1X point per dollar spent on all other purchases
- 10X points on hotels and car rentals purchased through Chase Travel℠
- 10X points on Chase Dining (including prepaid reservations and prepaid takeout purchased through Chase)
- 5X points on airfare purchased through Chase Travel℠
- 3X points on all other travel
- 3X points on dining at restaurants
- 1X points on all other purchases
- 3X points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year
- 1X point per $1 on all other purchases
But one of the biggest advantages of the Ultimate Rewards ecosystem is that you can combine points earned across personal and business cards. You can also pool points from Chase’s cash back cards and use them for travel redemptions if you hold at least one Ultimate Rewards-earning card with an annual fee.
You can redeem Chase Ultimate Rewards points for great travel experiences, including:
- Transfer to World of Hyatt to book five-star hotels like the Park Hyatt Paris Vendôme or budget-friendly options starting at just 3,500 points per night
- Transfer to Air Canada Aeroplan to access dozens of airline partners and book award flights at competitive rates with minimal taxes and fees
- Transfer to Virgin Atlantic Flying Club to book Upper Class awards between the United States and the United Kingdom from 29,000 points plus taxes and fees
Or, you can transfer them to even more partners:
Capital One miles
Capital One launched its transferable rewards program more recently than others on this list, but it has quickly closed the gap by adding more partners and improving transfer ratios. You can now transfer Capital One miles to 19 airline and hotel programs. And if you don't fancy transfers, you can redeem miles to cover travel purchases.
However, transfers present an easy way to get the most from your hard-earned miles. For example, you could spend the miles you get with a Capital One Venture Rewards Credit Card or Capital One Venture X Rewards Credit Card welcome bonus in the following ways:
- Transfer to Etihad Guest to book American Airlines flights from 6,000 miles
- Transfer to Turkish Airlines Miles&Smiles to book United flights to Hawaii for only 10,000 miles per person
- Use Wyndham Rewards to book hotel stays starting at just 7,500 points per night
- 5 Miles per dollar on hotels and rental cars booked through Capital One Travel
- 5 Miles per dollar on purchases through Capital One Entertainment (through 12/31/2025)
- 1.25 Miles per dollar on every purchase, every day.
- 5X miles per dollar on purchases through Capital One Entertainment (through 12/31/2025)
- 5X miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel
- 2X miles per dollar on all other purchases
- 10X miles per $1 on hotels and rental cars booked via Capital One Travel
- 5X miles per $1 on purchases through Capital One Entertainment (through 12/31/2025)
- 5X miles per $1 on flights when booking via Capital One Travel
- 5X miles per $1 on vacation rentals booked via Capital One Travel
- 2X miles per $1 on all other eligible purchases
Alternatively, you could allocate your miles across the following Capital One transfer partners:
Related: How to Maximize Capital One Miles for Flights Within North America
Citi ThankYou® Rewards
Citi ThankYou® Rewards may not be as well-known as other programs on this list, but with the right card or a combination of Citi cards, you can unlock amazing value.
Cardholders of the Citi Prestige® Card (no longer open to new applicants) or the Citi Strata Premier℠ Card can transfer points to all of Citi's 21 airline and hotel partners. Other ThankYou Rewards cards only allow transfers to Choice Privileges, JetBlue TrueBlue, and Wyndham Rewards.
Some of the best ways to use Citi ThankYou Points include:
- Transfer to Avianca LifeMiles to book United flights within the U.S. for fewer miles than United typically charges
- Transfer to Singapore Airlines KrisFlyer to take advantage of the airline’s monthly Spontaneous Escapes offers
- Use points for travel across Asia-Pacific through partners like Qantas, Singapore Airlines, and Cathay Pacific
Citi also offers point transfers to these programs too:
Related: Best Uses of Citi ThankYou Points for Flights Within North America
Wells Fargo Rewards
Wells Fargo is a newcomer to the transferable points space. The bank offers two cards that earn flexible rewards. The Wells Fargo Autograph® Card (Rates & Fees) and the Wells Fargo Autograph Journey℠ Card (Rates & Fees) both earn points that can be transferred to travel partners. These cards offer solid welcome bonuses and earn bonus points in a broad range of categories.
Rates & Fees
- 3x on travel – including airfare, hotels, car rentals, timeshares, cruises, and more
- 3x on transit – including parking, tolls, subways, ride shares, railways, ferries, and more
- 3x on dining – including dining in, take-out, catering, delivery and more
- 3x on gas – including gas stations and electric vehicle charging stations
- 3x on phone plans – including landline providers and cell phones
- 3x on streaming services
- 1x on other purchases
Rates & Fees
- 5X points per $1 spent on hotels
- 4X points per $1 spent on airlines
- 3X points per $1 spent on other travel and restaurants
- 1X points per $1 spent on other purchases
If you also have a cash rewards card such as the Wells Fargo Active Cash® Card (Rates & Fees), you can combine rewards into one account, making all your points transferable.
Currently, you can transfer Wells Fargo Rewards to six airline programs and to Choice Hotels at a 1:2 ratio. Here are a few high-value ways to redeem:
- Transfer to Flying Blue to book Air France or KLM promo awards starting at 18,750 miles one way in economy to Europe
- Transfer to Iberia Airlines to book flights to Spain from 17,000 miles in economy or 34,000 in business class
- Transfer to Choice Hotels at 1:2 to book stays like the Hotel Aquarius in Venice for just 10,000 Wells Fargo points per night
Here's the bank's full list of transfer partners:
Marriott Bonvoy
Marriott Bonvoy is the only hotel loyalty program on this list, but its points can be considered flexible thanks to the ability to transfer to 39 airline partners.
While this is not the most valuable use of Bonvoy points, transfers occur at a 3:1 ratio and can help you grow your balance with airlines that are not partners of other programs, such as American Airlines. They also provide an additional option for topping off frequent flyer accounts.
If you’d like to earn Marriott Bonvoy points, Marriott offers several co-branded credit cards through both American Express and Chase. These cards come with welcome bonuses, automatic elite status, and bonus points on Marriott stays and select everyday spending categories.
On average, AwardWallet users redeem Marriott points for 0.94¢ each. But Marriott’s dynamic pricing model means this value can fluctuate depending on the property and date.
If you prefer not to deal with the complexities of hotel redemptions, you can still unlock solid value by transferring points to airline partners. Better yet, Marriott awards a 5,000-mile bonus when you transfer at least 60,000 points to most — but not all — airline partners.
Comparing Flexible Rewards Points
When it comes to flexible rewards points, not all currencies are created equal.
The most important factor to consider when choosing a program is where you can transfer your points and how much value you can extract from those redemptions. This can vary widely depending on your travel goals. Amex, Bilt, Capital One, Chase, Wells Fargo, and Citi all offer transfer options within the major airline alliances, along with credit cards that unlock these features.
Depending on which cards you hold, you may also receive added perks like bonus earnings on portal bookings, annual credits, lounge access, and more. Because of Chase’s 5/24 rule, which limits how many cards you can be approved for in a short period of time, it may make sense to begin with Chase’s ecosystem if you are new to earning flexible rewards.
Marriott Bonvoy’s transfer options are more limited and generally less valuable than the others. Still, the ability to top off an airline account with hotel points can be useful if it helps you secure an award flight you'd prefer not to book with cash.
Final Thoughts
Flexible rewards points provide one of the best ways to maximize your award travel. Redeeming for more than the typical 1¢ per point that cash back cards offer is the key to unlocking outsized travel experiences. These points give travelers access to sweet spots across multiple programs and the ability to compare options when award space is limited or a program devalues.
The best program for you will depend on your travel style, goals, and which airlines or hotels you use most often. What works for one traveler may not be the right fit for another.
For rates and fees of the cards mentioned in this post, please visit the following links: American Express® Gold Card (Rates & Fees), The Platinum Card® from American Express (Rates & Fees), The Business Platinum Card® from American Express (Rates & Fees), Chase Sapphire Preferred® Card (Rates & Fees), Chase Sapphire Reserve® (Rates & Fees), and Ink Business Preferred® Credit Card (Rates & Fees)
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