Why You Would Be Stupid to do a Chase to IHG Transfer for Status
No Mas Coach published an article that showed that Chase Ultimate Rewards transfers are counting towards IHG status. My very first thought was, who cares.? No, who in the actual he-double hockey sticks cares? IHG status is almost worthless and the bump in perks from Platinum (which I get for a $49 annual fee) to Spire Elite status is almost non existent. I would know since I used to have it when welcome offers were counting towards status for a short time. One time I did get $20 in minibar credit instead of $15 though!
The only decent perk of Spire Elite status is the 25,000 point bonus you can take as your perk. Those points are worth a whopping $125. That is being generous on the value since you can buy IHG points for under $0.004 sometimes. Their points offering a lack of value and having no meaningful way to earn them is why I put IHG on my ignore list.
I was just going to ignore it and then every blog started posting about it and I thought it would be a dereliction of duty not to tell you to skip right over it. Sometimes when someone in this hobby finds a new “hack” we get like kids in a candy store. We get all excited without really thinking it through.
Why No One Should Care About Chase to IHG Transfers
If we peg the value of IHG points at 1/2 a cent each and Ultimate Rewards at 1.5 cents a piece that means you are losing 1 cent in value for each point you transfer. And to be honest that may be too high of a valuation for IHG and too low for UR points.
You may be thinking, yeah but Spire Elite comes with that 25,000 bonus. That would be a nice bump for transferring, right? If those 25,000 points are worth $125 that means the most Chase points you could transfer and break even on value would be 12,500. Because you lose 1 cent in value for each point you transfer. If you are that close to reaching Spire Elite status at this point in the year then you are going to hit it without the transfer. This MAY make sense at the very end of the year if you are less than 12,500 points away from Spire Elite status but I think this is a glitch that won’t be working for too long.
But What About Status Matches?
Many of the blogs that covered the transfer brought up that this could be useful for status matches. Again, say what? Who cares!?! Are you willing to spend $750 in value (1 cent per point lost x 75,000 points) for status matches? Heck Hilton PAYS you to take their Diamond status with the Aspire card. That will match just as easily! Same with their Gold status with a $95 annual fee. Or Wyndham Platinum for a $75 annual fee and on and on.
That doesn’t include any status matches you already do on the regular like Wyndham to Caesars Rewards that means you already have Wyndham Diamond status to status match.
It is always fun to find a loophole or a new hack. I get it that we get excited about things like that but this one is a hard pass 99 out of 100 times (or 999 times out of 1000). The value you lose making every transfer makes it a non starter.