American Express has launched a new transfer bonus for Membership Rewards points heading to Marriott Bonvoy. From October 20 through December 10, 2026, US-based members can convert points at a rate of 1,000 Amex points to 1,350 Bonvoy points, a 35% uplift over the standard 1:1 ratio. Transfers are usually instant, and the boosted ratio applies to every transfer during the window, not just your first one.
This kind of promotion appears roughly twice a year, and past bonuses have typically landed between 20% and 35%. At the top of that range, this one beats the 20% offer seen earlier in the year. On paper, that sounds like a genuine win for anyone sitting on a stack of Amex points and eyeing a hotel stay.
The catch is the underlying maths. Marriott points are simply worth less than flexible bank points. A common valuation puts Bonvoy points at around 0.7 cents each, while Membership Rewards points are worth closer to 1.7 cents when transferred to airline partners or used well. Even with the 35% sweetener, you're getting a bit under one cent of value per Amex point — meaning you'd still sacrifice roughly half your points' potential value by moving them to Marriott.
That said, there are situations where the transfer makes sense. Marriott has made it harder to earn its points through everyday credit card spending, so travellers who need to top off an account for a specific redemption — a high-category property, a points-and-cash booking, or a Marriott week where cash rates are brutal — might find the bonus covers the gap. The writer's own take is that this is best used sparingly, if at all: fine for topping up, poor as a bulk conversion strategy.
The smarter default remains transferring Amex points to airline programs, where even a standard 1:1 ratio often beats what this Marriott bonus delivers. If you do have a concrete Marriott redemption in mind, the long window through December 2026 means there's no rush — confirm availability and pricing first, then transfer only what you need.
