What are transferable points and why do people love them?

Question

I hear about transferring Chase and Amex points. What does this mean and is it complicated?

CardCompare Expert · Accepted Answer

Transferable points (Chase Ultimate Rewards, Amex Membership Rewards, Capital One Miles) can be moved 1:1 to airline and hotel loyalty programs. This is the secret to premium travel for cheap. Example: 60,000 Chase points = $600 cash back. OR transfer 60,000 to Hyatt = a $1,500+ luxury hotel stay (2.5 cpp). The process: log into Chase/Amex, click 'Transfer Points', select partner, enter member number, done. It takes 1-2 minutes and is usually instant. The value multiplier is why travel enthusiasts prefer points over cash back.