The Membership Rewards program from American Express has unveiled a new 30% transfer bonus to Hilton Honors, valid from September 1 to October 14, 2026. Normally, Amex points convert to Hilton Honors at a 1:2 ratio, but during this promotion, the ratio enhances to 1:2.6, signifying that 1,000 Amex points translate to 2,600 Hilton Honors points. Although transfer bonuses for these programs are usual, ranging between 20-40%, this particular offer is fairly standard.
Even with the bonus, transferring Amex points to Hilton Honors might not represent the most efficient use of points. Amex points hold an approximate value of 1.7 cents each, whereas Hilton Honors points are valued at around 0.5 cents each. The 1:2.6 transfer ratio implies about 1.3 cents of value per Amex point, which may not be the most favorable option. Hilton Honors points can frequently be bought directly for 0.5 cents each, and there have been devaluations within the Hilton Honors program, with premier properties requiring as many as 250,000 points for a standard accommodation.
In the end, while the 30% transfer bonus might offer some advantages with a specific redemption target, it could be wiser to reserve Amex points for alternative possibilities.