When Chase launched a transfer bonus last month to Marriott Bonvoy of 65% until June 30th and 50% from now until August 15th, I wasn’t overly enthusiastic. That’s because a Chase Ultimate Rewards point is worth approximately 3X a Marriott point.
So you can imagine that a 20% bonus *really* does not move the needle for me. You can read my analysis at 50-65% here and then assume how much less I’d advise the transfer at 20% unless you are literally about to make a booking and need points to top off your account and have Amex points but not Chase points.