Transferring Credit Card Points Can Maximize Value

Our latest podcast guest, Barry Choi, explains how understanding a few credit card programs really well can help you maximize the value of your points. Check out the full episode for more tips on loyalty points!

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Is there a way to transfer points from one program to another where they have a higher value or is that forbidden?

It is allowed, but it really depends on the individual program. So American Express has two really great valuable partners. Number one is Aeroplan. You can transfer your points. One to one. And like I was just saying, a one year old plant point is worth 1. 5 to 2 cents each. So you could potentially double the value of your points. They also have MirrorApp Envoy. You can transfer your points to 1 to 1. 2. Now the funny thing is, MirrorApp Envoy points are typically worth about 0. 9 cents each. So the value is about the same. However, with MirrorApp Envoy, when you book 5 nights on points, you only pay for 4 nights on points. So you can get value when you’re thinking about the bigger aspect of things. And this is where it really ties back to what I’m saying. Really try to understand two or three programs inside out, and that’s where you start to see your value. RBC, they’ve got a few partners in WestJet and British Airways. So there are ways to get increased value, but again, it comes down to knowing the programs and what you can use them for.