If you have Chase Ultimate Rewards points parked on a Sapphire or Ink card and an IHG stay in your future, you have until July 30 to move them at twice the usual rate. After that, the same transfer buys 70% more instead of 100% more. Come September 1, the rate resets to par.
That is either a free hotel night or a wasted twenty minutes. Depends on your travel calendar.
The exact deal
Chase and IHG One Rewards started the promotion on July 16, 2026. Through July 30, every 1,000 Ultimate Rewards points becomes 2,000 IHG points, a 1:2 ratio (The Points Guy; NerdWallet). From July 31 through August 31, the bonus drops to 70%: 1,000 UR points becomes 1,700 IHG points (Upgraded Points). On September 1 it reverts to 1:1.
Chase runs partner bonuses several times a year. A 100% bonus on IHG is more generous than the usual 25% or 30% promo, but it is not the best possible use of a Chase point. Here’s why.
What a Chase point is actually worth
Third-party valuations put IHG points at roughly 0.5 cents each. Chase points transferred to airline partners like United or Air Canada Aeroplan for a business class seat push 2 cents each in real-world value. So the 100% bonus makes an IHG transfer buy about 1 cent per Chase point of value. Solid, not spectacular.
Translation: this deal is not “transfer all your points.” It is “transfer the specific chunk you need for a real, specific stay you were going to book anyway.”
Here’s the catch. IHG points expire after 12 months of inactivity, and the program has quietly repriced properties upward multiple times in the past three years. Speculative transfers get worse over time.
The math for the stay you have in mind
Look up your target property on the IHG site first. Note the point cost per night. Multiply by the number of nights. Halve that number because the bonus doubles what you send. Add a small buffer for taxes or resort fees.
That is the Chase Ultimate Rewards number you send. Nothing more.
A Kimpton or Hotel Indigo running 30,000 to 40,000 points a night costs 15,000 to 20,000 Ultimate Rewards points to cover after the bonus. A standard Holiday Inn Express at 15,000 points a night costs 7,500. On a two-night weekend that would rent for $400 in cash, that’s not a small saving.
Do this today if the math checks
Open the Chase Ultimate Rewards portal at chase.com. Click “Use points” then “Transfer to travel partners.” Select IHG One Rewards. Punch in the point number you calculated. Confirm your IHG account, which Chase will ask for once. Hit transfer.
If you don’t have an IHG stay on the calendar and don’t have concrete plans in the next 12 months, this is not your deal. File it away and wait for the next Hyatt or Marriott bonus.
If you don’t hold a full Sapphire or Ink card and only have Freedom Unlimited or Freedom Flex, you can’t transfer directly. Pooling your points to a household member’s Sapphire is allowed and is the workaround for this one.
Move ends July 30. Not optional if you have booked plans.
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