February 2026 Transfer Bonuses: Is Chase to Marriott 50% Worth It?

Transfer bonuses are one of the most exciting opportunities in the points and miles world. When credit card issuers offer bonus points on transfers to airline and hotel partners, it can supercharge the value of your rewards — if you know when to take advantage.

This February, we’ve got some interesting bonuses running, including a headline-grabbing 50% bonus from Chase to Marriott Bonvoy and a solid 30% bonus from Capital One to Japan Airlines. But here’s the thing: not every transfer bonus is actually worth using.

Let me break down what’s available, the math behind each bonus, and whether you should actually pull the trigger.

Current Active Transfer Bonuses (February 2026)

Program	Transfer To	Bonus	Ends	Transfer Ratio
Chase Ultimate Rewards	Marriott Bonvoy	50%	Feb. 28	1,000 → 1,500
Capital One	Japan Airlines	30%	Feb. 28	1,000 → 1,300
Capital One	Avianca LifeMiles	15%	Feb. 11	1,000 → 1,150

Let’s dig into each one.

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Chase to Marriott Bonvoy: 50% Transfer Bonus

This is the headline bonus this month. Through February 28, every 1,000 Chase Ultimate Rewards points you transfer becomes 1,500 Marriott Bonvoy points.

Sounds amazing, right? Well… let’s do the math.

The Math (Why This Might Not Be Worth It)

According to current valuations:

• Chase Ultimate Rewards: ~2.05 cents per point
• Marriott Bonvoy: ~0.7 cents per point

So if you transfer 10,000 Chase points:

• You’re giving up: 10,000 × $0.0205 = $205 in value
• You’re receiving: 15,000 × $0.007 = $105 in value

That’s a 49% loss in value. Even with the 50% bonus, the math doesn’t work in your favor for most situations.

When This Transfer Actually Makes Sense

Despite the math, there ARE scenarios where this bonus could work:

1. Topping off for a specific redemption: If you’re 20,000 Marriott points short of booking your dream hotel and transferring from Chase gets you there, the opportunity cost might be worth it.

2. Using points you wouldn’t otherwise use: If Chase points are just sitting idle and you have a concrete Marriott redemption in mind, getting something is better than nothing.

3. High-value Marriott redemptions: Category 1-4 properties in off-peak seasons can offer outsized value. A 12,500-point night at a hotel worth $150+ changes the math significantly.

4. Marriott travel packages: If you’re going for a Marriott travel package (points + airline miles), extra Bonvoy points could push you over a threshold.

My Recommendation

Skip this one unless you have a very specific redemption in mind. Chase Ultimate Rewards are simply too valuable to convert at this ratio. You’re better off:

• Transferring to Hyatt (1:1, consistently high value)
• Transferring to airline partners for premium cabin flights
• Using through the Chase travel portal at 1.5x (with Sapphire Reserve)

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Capital One to Japan Airlines: 30% Transfer Bonus

Now THIS is interesting. Through February 28, transfer 1,000 Capital One miles and receive 1,300 JAL Mileage Bank miles.

Why JAL Miles Are Valuable

Japan Airlines has one of the most underrated loyalty programs for:

Flights to Japan:

• Economy: 27,000 miles one-way from North America
• Premium Economy: 40,000 miles one-way
• Business Class: 55,000 miles one-way

JAL’s New A350 First Class: The new suite is absolutely stunning. Award costs:

• Low season: 110,000 miles one-way
• Regular season: 125,000 miles one-way
• High season: 140,000 miles one-way

With the 30% bonus, you’d need to transfer approximately 85,000 Capital One miles to get 110,500 JAL miles — enough for low-season first class to Tokyo.

The Math

Current valuations:

• Capital One miles: ~1.85 cents each
• JAL Mileage Bank: ~1.4 cents each

Transferring 10,000 Capital One miles:

• You’re giving up: 10,000 × $0.0185 = $185 in value
• You’re receiving: 13,000 × $0.014 = $182 in value

Nearly break-even! And if you’re booking premium cabin space to Japan, the actual value delivered often far exceeds the published valuations.

My Recommendation

This one’s worth considering if you:

• Have Japan travel plans in 2026
• Want to experience JAL’s new first class suite
• Have Capital One miles you want to put to work

Pro tip: JAL releases award space about 360 days out. Start looking now for late January/February 2027 travel.

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Capital One to Avianca LifeMiles: 15% Bonus (Ending Soon!)

This bonus ends February 11, so act fast if interested.

Why LifeMiles Matter

Avianca LifeMiles is a Star Alliance program with some sweet spots:

• No fuel surcharges on award tickets
• Great rates on United flights domestically
• Solid redemptions to Europe on partner airlines

The 15% bonus brings your effective transfer ratio to 1:1.15, which can be helpful for specific redemptions.

My Take

If you have LifeMiles redemptions in mind and need to top off, this is a decent bonus. But if you’re not already planning a trip, don’t transfer speculatively — LifeMiles have no clear advantage over keeping Capital One miles flexible.

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Transfer Bonuses NOT Running This Month

A few notable programs with no current bonuses:

• American Express Membership Rewards: Nothing active
• Citi ThankYou Rewards: Nothing active
• Bilt Rewards: Nothing active (Bilt rarely offers transfer bonuses)

This is actually fairly normal — we see 2-3 bonuses at a time typically, with programs rotating throughout the year.

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How to Maximize Transfer Bonuses

Here’s my framework for deciding whether to use any transfer bonus:

✅ DO Transfer When:

1. You have a specific redemption already researched and available
2. The math works out to near or above 1:1 value
3. You’re topping off an existing balance for a booking
4. The destination program offers unique value you can’t get elsewhere

❌ DON’T Transfer When:

1. You’re transferring “just because” there’s a bonus
2. The math shows significant value loss (like Chase → Marriott)
3. You have no concrete travel plans
4. The points are in a flexible currency you might need later

The Golden Rule

Never transfer points speculatively. Once transferred, they’re locked in that program forever. Keep your powder dry until you have availability confirmed and are ready to book.

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What I’m Watching For

Looking ahead, here are transfer bonuses I’d love to see:

• Chase to Hyatt: Rare but incredible when it happens
• Amex to ANA: Would make round-trip Japan extremely cheap
• Capital One to Emirates: Singapore Suites, anyone?
• Citi to Turkish Miles&Smiles: Sweet spot heaven

I’ll keep this post updated as new bonuses emerge. Follow along and I’ll make sure you don’t miss the good ones.

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Bottom Line

February 2026’s transfer bonuses are a mixed bag:

• Chase → Marriott 50%: Skip unless you have a specific need
• Capital One → JAL 30%: Solid choice for Japan travelers
• Capital One → Avianca 15%: Decent for Star Alliance redemptions (ends Feb. 11!)

Remember: the best points are the ones you actually use. But don’t let FOMO push you into bad transfers. Stay patient, stay strategic, and the right opportunity will come.

Have questions about whether a specific transfer makes sense for your situation? Drop a comment below!

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Related Reading:

• Chase Ultimate Rewards: The Complete Guide
• Transfer Partners Explained: How to Maximize Your Points
• How to Book Award Flights to Japan in 2026
• Capital One Points: The Complete Guide