Here at TPG, we often recommend that you earn transferable credit card points so you can transfer them to hotel and airline partners. This not only gives you maximum flexibility, but it also allows you to take advantage of valuable transfer bonuses like the current transfer bonus Chase is offering when you transfer points to Southwest Airlines.
CHASE
Between now and Nov. 6 at 11:59 p.m. Eastern time, you can get a 25% bonus when you transfer Chase Ultimate Rewards points to your Southwest Rapid Rewards account.
This offer is available to Chase cardholders with an eligible Chase Ultimate Rewards-earning credit card.
You can transfer points to Southwest in increments of 1,000 points, but with the 25% transfer bonus, you will net 1,250 Southwest Rapid Rewards points. Per TPG’s October 2025 valuations, Southwest Rapid Rewards points are valued at 1.4 cents each and Chase Ultimate Rewards points at 2.05 cents apiece.
A Southwest Airlines Boeing 737 taxis at Baltimore/Washington International Thurgood Marshall Airport (BWI). SEAN CUDAHY/THE POINTS GUY
But with this 25% transfer bonus, you’re actually getting about 2.5 cents per point from your Ultimate Rewards points.
Related: Chase Ultimate Rewards sweet spots: From international business class to domestic travel
Southwest Rapid Rewards prices award tickets dynamically based on the cash cost of the flight. The higher the cash price, the more points you’ll need to redeem for award travel. That said, if you’re a frequent Southwest traveler, you can squeeze more value out of Ultimate Rewards points if you transfer points during the promotion period.
This can be an even more lucrative deal if you have a Southwest Companion Pass, which lets you take a companion with you on all Southwest flights for the cost of taxes and fees. You can essentially double the value of each point you transfer.
Related: How to book travel (and save points) with Chase Travel
Reward your inbox with the TPG Daily newsletter
Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts
By signing up, you will receive newsletters and promotional content and agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
It’s great to see Chase and Southwest launch a lucrative transfer bonus — the first offer we’ve seen between the two since 2020.
This is an excellent way for Southwest loyalists to get more value from their Ultimate Rewards points, especially if they hold a Southwest Companion Pass (or are working toward one). However, we generally discourage transferring points if you don’t have a plan to use them. Transfers are not reversible, so if you don’t have a specific redemption in mind, you could end up with a stash of Rapid Rewards points that you could have used for something else.
But with Southwest’s new, modern cabins and exciting route additions to cities like Anchorage, Alaska, and island destinations like St. Maarten, it might be a good time to book a flight and take advantage of this bonus.
Remember, you must transfer by Nov. 6 at 11:59 p.m. Eastern time in order to be eligible for this 25% transfer bonus between Chase Ultimate Rewards and Southwest Rapid Rewards.
Related reading:
