HOSTED BY: 1 AIR TRAVEL
IHG One Rewards members who hold Diamond Elite status or belong to IHG’s Business Rewards program can now transfer up to 500,000 IHG One Rewards points per calendar year to other members without paying any transfer fees, as first reported by One Mile at a Time.
This is excellent news for travelers like me who love redeeming IHG points. And luckily, many travelers may be eligible to join IHG’s Business Rewards program.
Here’s what you need to know about this new perk.
Transfer IHG points to other members
IHG One Rewards members can transfer points between accounts in increments of 1,000 points if the sender and receiver accounts are at least 30 days old. However, you can only transfer or receive up to 500,000 points per calendar year.
Previously, all members initiating transfers needed to pay a fee of $5 per 1,000 points. But now, Diamond Elite members and members of IHG’s Business Rewards program who initiate transfers won’t need to pay this fee.
To transfer IHG One Rewards points to another member, head here, provide the requested details about your IHG account to log in and then fill out the points transfer form.
POINTS.COM
You’ll need to confirm the recipient’s details on the next page.
POINTS.COM
Then, you’ll get to a confirmation page that states, “Your order has been received and will be processed in the next 72 hours. You will receive a confirmation email once your transaction completes.”
POINTS.COM
My points transfer wasn’t completed before writing and publishing this story. As a result, the points are still in my account, but we’ll update this paragraph with how long the transfer took once the points arrive in my recipient’s account.
Once the points transfer completes, no cancellations or refunds are permitted and the member who initiated the transfer has no right to the transferred points. The points transfer page says the “offer does not have an expiration date and will continue at IHG’s discretion.”
Related: 7 ways to earn more IHG One Rewards points for your next redemption
When and why to transfer IHG points
Frequent readers know I’m a big fan of buying IHG points, especially when you can do so with a 100% bonus. After all, a 100% bonus brings the effective purchase rate down to just 0.5 cents per point. This rate matches TPG’s valuation of IHG points but is significantly lower than I typically get when redeeming IHG points. However, you’re limited to purchasing 150,000 points per year (this cap has been increased to 250,000 points per calendar year during the current IHG buy points promotion).
This is when transferring IHG points to another member without a fee could become useful. If you need more points than the maximum amount you can purchase in a year, you could have another member buy points and then transfer them to you.
My husband and I both currently have Diamond Elite status, but I expect only one of us will be able to requalify next year. So, we can now transfer points from one of our accounts to the other without paying transfer fees. Then, we can use that account in 2024 as we attempt to requalify one of our accounts for Diamond Elite status.
Another reason to transfer IHG points could be if you’re sharing a room with a friend. Instead of attempting to determine a reimbursement rate or simply agreeing on another way to informally align your expenses, you could transfer half of the points required for the stay to your friend.
Related: How to get a 4th-night-free reward when redeeming IHG points
How to become eligible for free IHG points transfers
TOM WERNER/GETTY IMAGES
As mentioned above, only IHG Diamond Elite and Business Rewards program members are eligible for waived fees when transferring points to other members. So, you might be wondering how to earn IHG One Rewards elite status or become a Business Rewards program member.
IHG Diamond Elite status requires 70 qualifying nights or 120,000 qualifying points per calendar year. Alternatively, you can earn Diamond Elite status through Dec. 31 of the following year if you make purchases totaling $40,000 or more during a calendar year on your IHG One Rewards Premier Credit Card or IHG One Rewards Premier Business Credit Card.
Luckily, it’s relatively easy to become a Business Rewards member. IHG’s terms and conditions state that “Membership in IHG Business Rewards is available to individuals who are either corporate bookers, business travel/meetings agents or individual bookers.” The terms and conditions define an individual booker as “a person who books Qualifying Spend at Participating Hotels on their own behalf or on behalf of someone else.” Head to the Business Rewards page to join the program.
Related: Last-minute strategies for earning IHG One Rewards elite status
Bottom line
I’m excited that IHG has removed the transfer fees for Diamond Elite and Business Rewards members who want to transfer points to other members. After all, the $5 per 1,000 points transfer fee for other members makes transferring points a poor decision when it comes to maximizing your points. We only recommend doing so in the most dire circumstances.
Title: Now you can transfer IHG points to others for free: Here’s how
Sourced From: thepointsguy.com/news/transfer-ihg-points-other-members/
Published Date: Thu, 07 Dec 2023 17:00:02 +0000
No comments:
Post a Comment