Chase Ultimate Rewads is offering a 20% transfer bonus to Southwest Airlines Rapid Rewards now through October 31, 2020. With this bonus, you’ll now receive 1,200 Southwest Rapid Rewards per 1,000 Chase Ultimate points. You must be logged into your Chase Ultimate Rewards account to view this offer.

Southwest Airlines offers a fixed value redemption with Wanna Getaway fares costing around 76 points per dollar. With this transfer bonus you’ll be looking at roughly a 1.5 cent value for your Chase points.

However, if you’re looking to maximize this, you’ll want to take advantage of Deal: Free Southwest Airlines Flight Changes, which essentially allows you book the cheapest flight on your route and then change to the actual date you want to travel without any additional points. This trick works for travel from October 5, 2020 through February 3, 2021.

Unlike American Express, it’s uncommon to see many transfer bonus from Chase Ultimate Rewards. Obviously the pandemic has has a huge impact on travel so I’m sure both Southwest and Chase are looking for ways to have cardholders transfer and use points.

Despite Chase not offering menu transfer bonuses in the past (previously they’ve offered one for British Airways and IHG), I’m optimistic that we’ll start seeing some more bonuses being offered at least in the near future.

Additionally, this promotion is hard coded into your account so there’s no need to register for this offer and you’ll receive the bonus points once the transfer has been completed.

What are your thoughts on Chase’s transfer bonus to Southwest Airlines? Is this a promotion you plan to take advantage of? Feel free to share in the comments below.