Transfer ratios change often and differ by the country your card was issued in. In 2026 so far we logged 6 cuts, including Amex Netherlands to Flying Blue (5:4 to 2:1 from 1 July 2026) and Chase Sapphire Preferred to Hyatt (1:1 to 4:3). Next: Bilt World of Hyatt: 1:1 → 4:3 on 1 January 2027.
Coming up
Announced changes that haven't happened yet. Transfer before the date if the old ratio is better.
| Date | Card points | Change |
|---|---|---|
| 1 January 2027 |  Bilt | Worse World of Hyatt: 1:1 → 4:3. |
Every change, newest first
Ratio cuts and improvements, partners added and removed.
| From | Card points | Change |
|---|---|---|
| 1 October 2026 |  DBS Points | Removed Qantas Frequent Flyer removed as a partner.Mainly Miles: Qantas vanished from the DBS rewards portal in late September 2026 without notice; DBS published revised terms on 1 October 2026 and removed web references by 3 October. The InsideFlyer report 'DBS cuts Qantas Points transfer option' agrees. The current DBS support page no longer lists Qantas. Ratio before removal was 1:2. |
| 1 October 2026 |  Chase | Worse The 4:3 Hyatt ratio reaches every existing Sapphire Preferred and Ink Business Preferred account. source |
| 30 September 2026 |  Westpac Altitude | Worse Virgin Australia Velocity Frequent Flyer: 3:1 → 4:1. |
| 30 September 2026 | Westpac Altitude | Worse Singapore Airlines KrisFlyer: 3:1 → 4:1. |
| 30 September 2026 | Westpac Altitude | Worse Cathay (Asia Miles): 3:1 → 4:1. |
| 22 September 2026 |  Axis Bank | Removed ITC Hotels Club ITC removed as a partner.Dropped from the transfer table in the 22 Sept 2026 update (CardAdvisor W39; Magnify). |
| 6 July 2026 |  Amex Germany | New partner ALL Accor added at 3:1. |
| 1 July 2026 | Amex Netherlands | Worse Air France-KLM Flying Blue: 5:4 → 2:1. |
| 1 July 2026 | Amex India | Removed Etihad Guest removed as a partner.Was 2:1. Transfers ended 2026-06-30 23:59 IST, part of a global Etihad/Amex wind-down (LiveFromALounge 2026-06-29). |
| 30 June 2026 | Amex | Removed Etihad Guest removed as a partner.US Amex ended Etihad transfers effective 2026-06-30. |
| 23 June 2026 | Amex Australia | Removed Etihad Guest removed as a partner.AFF: from 23 June 2026 you can no longer transfer to Etihad Guest (was 3:1 after Dec 2025). Points Advisor still listed it in April 2026. Part of Etihad's global withdrawal from Amex MR (UK 22 Jun, US 30 Jun 2026). |
| 22 June 2026 | Amex UK | Removed Etihad Guest removed as a partner.Amex UK page: transfers had to be made before 11:59pm on 22 June 2026. InsideFlyer (crediting Head for Points) confirms the 22 June date for UK and International Currency Cards. |
| 20 June 2026 | Amex Canada | Removed Etihad Guest removed as a partner.Official Amex Canada notice: Etihad Guest no longer a transfer partner in Canada from 20 Jun 2026 (rate was 4:3). Prince of Travel: last day to start a transfer was 19 Jun 2026. |
| 15 June 2026 | Amex France | Removed Etihad Guest removed as a partner.Official Amex France page: from 15 June 2026 MR points can no longer be transferred to Etihad Guest. |
| 15 June 2026 | Amex Germany | Removed Etihad Guest removed as a partner.Reisetopia (15 Jun 2026): MR transfers to Etihad Guest possible only until 15 June 2026. Ratio had been 3:2 since 1 Aug 2025 (was 5:4). |
| 15 June 2026 | Chase | Worse Chase Sapphire Preferred and Ink Business Preferred move to World of Hyatt at 4:3 (1,000 points = 750 Hyatt) for new accounts; Sapphire Reserve stays 1:1. source |
| 13 May 2026 | Amex UK | New partner ALL Accor added at 3:1. |
| 27 April 2026 |  NAB Rewards | Removed Cathay (Asia Miles) removed as a partner.rewards.nab.com.au: 'From 27th April 2026, NAB Rewards customers will no longer be able to redeem NAB Rewards Points for the Cathay Pacific Program - Asia Miles.' The prior rate was 6,000 = 1,000 (personal). NAB product pages still mention 'Cathay Membership Programme' in their intro text but list no rate. |
| 2 April 2026 | Axis Bank | Removed Marriott Bonvoy removed as a partner.Removed overnight (Magnify; CardExpress). Atlas was 2:1 (Flightpoints). Still absent as of 2026-09-23. |
| 1 March 2026 |  Citi Singapore | Removed GrabCoins removed as a partner.Not an airline. Ended with the Citi SG T&Cs effective 1 March 2026 (see the official points-transfer page). Emirates Skywards and Malaysia Enrich are also not on the current official list, but no removal date was confirmed, so they are not entered here. |
| 15 December 2025 | Amex Australia | Removed Thai Airways Royal Orchid Plus removed as a partner.Removed on 15 Dec 2025; the last 2:1 transfers were on 14 Dec 2025 (Point Hacks, AFF). |
| 1 August 2025 | Amex Germany | Worse Cathay Asia Miles: 5:4 → 3:2. |
| 1 August 2025 | Amex Germany | Worse Emirates Skywards: 5:4 → 2:1. |
| 1 August 2025 | Amex Germany | Worse Qatar Airways Privilege Club (Avios): 5:4 → 3:2. |
| 29 May 2025 | Amex Singapore | Removed Emirates Skywards removed as a partner.Disappeared from the Amex SG portal on 29 May 2025 (Mainly Miles). The official SG airline page says it is 'unavailable until further notice'. The Feb 2026 rate table sets the price if it returns: 12:5 (Platinum Charge/Centurion), 13:5 (other cards). Suspended, not formally terminated. |
| 28 May 2025 | Amex India | Removed Emirates Skywards removed as a partner.Suspended, not formally removed. Amex India halted transfers from 2025-05-28 for 'system maintenance' (LiveFromALounge 2025-05-05); Magnify (2026-08-18) says still unavailable. Some sites still list Emirates at 2:1; treat it as unavailable unless the Amex portal shows it. |
| 1 May 2025 | Amex Belgium | Removed Lufthansa Group Miles & More (Brussels Airlines) removed as a partner.Amex Belgium's catalogue page for Miles & More (MMO-0103) said the Brussels Airlines / Miles & More partnership ended on 1 May 2025 (the cap had been 500,000 MR a year, one transfer a day). That page is no longer online, and we found no blog confirming the date. |
| 17 January 2025 |  HSBC Singapore | Worse Singapore Airlines KrisFlyer: 2.5:1 → 3:1. |
| 28 February 2020 |  Standard Chartered HK | Removed Singapore Airlines KrisFlyer removed as a partner.Official SCB HK page: KrisFlyer removed from the 360° Rewards catalogue effective 28 Feb 2020. Older than 2025, but listed so the gap is explained. |
Common errors we see
Ratios that get quoted wrongly, usually because a guide for one country is read in another.
| Card points | Ratio | What to know |
|---|---|---|
| Amex Belgium | Some Belgian sites say Amex Belgium converts to Flying Blue at 1:1 (and to Miles & More, which ended on 1 May 2025). The official catalogue says 2 Membership Rewards points = 1 mile.Checked 2 November 2026 · official | |
| Amex UK | 1:1 | UK and US cards convert to Avios at 1:1, but Belgium is 3:2 and the Netherlands, Germany and France 5:4 (our tables, checked 2 Nov 2026). Check the ratio for the country your card was issued in.Checked 2 November 2026 |
Our corrections
When we get a ratio wrong, it goes here with the date.
None since this log started on 4 November 2026.
When each bank was last checked
Against the bank's own catalogue where it publishes one.
| Card points | Checked | Partners | Sources |
|---|---|---|---|
| Amex | 1 November 2026 | 20 | 1 · 2 · 3 |
| Bilt | 1 November 2026 | 26 | 1 · 2 · 3 |
 Capital One | 1 November 2026 | 22 | 1 · 2 · 3 |
| Chase | 1 November 2026 | 14 | 1 · 2 · 3 |
| Citi | 1 November 2026 | 21 | 1 · 2 · 3 |
 U.S. Bank | 1 November 2026 | 5 | 1 · 2 · 3 |
 Wells Fargo | 1 November 2026 | 10 | 1 · 2 · 3 |
| Amex Belgium | 2 November 2026 | 8 | 1 · 2 · 3 |
| Amex France | 2 November 2026 | 15 | 1 · 2 · 3 |
| Amex Germany | 2 November 2026 | 14 | 1 · 2 · 3 |
| Amex Italy | 2 November 2026 | 14 | 1 · 2 · 3 |
| Amex Netherlands | 2 November 2026 | 10 | 1 · 2 · 3 |
| Amex Spain | 2 November 2026 | 12 | 1 · 2 |
| Amex Sweden | 2 November 2026 | 9 | 1 · 2 · 3 |
| Amex Switzerland | 2 November 2026 | 6 | 1 · 2 · 3 |
| Amex UK | 2 November 2026 | 17 | 1 · 2 · 3 |
 Revolut (EEA) | 2 November 2026 | 24 | 1 · 2 · 3 |
| Revolut (UK) | 2 November 2026 | 22 | 1 · 2 · 3 |
All ratios: transfer partners, Amex in Europe, Points Ratio Index.
Questions
Why do transfer ratios differ by country?
Each Amex issuing country (and each bank) negotiates its own airline and hotel partners and ratios. The same Membership Rewards points become 1 Avios each in the UK, 2 for 3 in Belgium and 4 for 5 in the Netherlands, Germany and France. Use the ratio for the country your card was issued in.
How often do you check the ratios?
Against the bank's own catalogue where it publishes one, otherwise against dated blogs that report it; each partner's note says which. The check date is shown per bank. The last full check was 2 November 2026.
What do I do if a ratio here is wrong?
Tell Mila or use the feedback button with the page you saw. If we got it wrong, we fix it and log the correction on this page with the date.
Do you get paid by Amex or the banks?
No. Points or Cash takes no card referral fees, so a worse ratio gets reported the same way as a better one.
Before you transfer
Tell Mila your card and the trip. She uses the ratio for your card's country, checks for a bonus, and tells you whether to transfer at all.
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