At TPG, we often recommend that you earn transferable credit card points so you can transfer them to hotel and airline partners. Not only does this give you maximum flexibility, but it also allows you to take advantage of valuable transfer bonuses, such as the current transfer bonus offered by Chase when you transfer points to Southwest Airlines.
Now through November 6 at 11:59 PM ET, transfer Chase Ultimate Rewards points to your Southwest Rapid Rewards account and get a 25% bonus.
This offer is available to Chase cardholders with an eligible Chase Ultimate Rewards Credit Card.
You can transfer points to Southwest in 1,000-point increments, but with the 25% transfer bonus, you’ll earn 1,250 Southwest Rapid Rewards points. Based on TPG’s October 2025 valuations, Southwest Rapid Rewards points are worth 1.4 cents each and Chase Ultimate Rewards points are worth 2.05 cents each.
But with the 25% transfer bonus, you actually get about 2.5 cents per point from Ultimate Rewards points.
Related: Chase’s Ultimate Rewards Sweet Spot: From International Business Class to Domestic Travel
Southwest Rapid Rewards dynamically prices award tickets based on the cash cost of the flight. The higher the cash price, the more points you need to redeem for award travel. That said, if you’re a frequent Southwest flyer, you can get even more value from your Ultimate Rewards points if you transfer your points during a promotion.
This may be a more lucrative deal if you have a Southwest Companion Pass, which lets you bring a companion on all Southwest flights for just the taxes and fees. You can essentially double the value of each point you transfer.
Related: How to book travel with Chase Travel (and save points)
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It’s great to see Chase and Southwest offering generous transfer bonuses – the first we’ve seen between the two companies since 2020.
For Southwest loyalists, this is a great way to get more value from Ultimate Rewards points, especially if they hold a Southwest Companion Pass (or are working toward one). However, we generally discourage you from transferring points if you have no plans to use them. Transfers are irreversible, so if you don’t have a specific redemption in mind, you might end up with some quick bonus points that you can use for other purposes.
But with Southwest’s new, modern cabins and exciting routes to cities like Anchorage, Alaska, and island destinations like St. Maarten, now might be a good time to book a flight and take advantage of this bonus.
Remember, you must transfer before 11:59 PM ET on November 6th to be eligible for the 25% transfer bonus between Chase Ultimate Rewards and Southwest Rapid Rewards.
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