Chase → Southwest 25% Transfer Bonus: Is It Worth It? (Ends Nov 6, 2025)

Chase Ultimate Rewards is one of the most versatile points systems. You can redeem them for cash through Chase Travel or, for greater benefit, transfer them at a 1:1 ratio to 11 airline programs (plus three hotel partner programs). This breadth of choice, combined with instant transfers, allows you to purchase award tickets across different alliances rather than being tied to a single carrier. How often does Chase offer bonus transfers to Southwest? The short answer is rarely. The current 25% bonus to Southwest Rapid Rewards (October 23–November 6, 2025) is the first bonus for transferring Chase points to Southwest that we’ve seen in the last five (5) years; the last one was 20% and ended on October 31, 2020. Consider this a lucrative opportunity, not a regular occurrence.

The Offer

• Promo: 25% bonus when transferring Chase Ultimate Rewards → Southwest Rapid Rewards
• Window: Oct 23–Nov 6, 2025, 11:59 p.m. ET
• Ratio: 1,000 UR → 1,250 Rapid Rewards (during the promo)
• Speed: Base points post instantly; bonus posts within 7 days
• Notes: No Companion Pass or tier credit from these points; transfers are final and in 1,000-point increments. 

This is the first Chase→Southwest transfer bonus in ~5 years (last seen in 2020 at 20%), which is why you’re seeing so much chatter. 

The Value Math

FrequentMiler analyzed the value of Southwest points and is confident that they will be worth around 1.3 cents (you’ll see ~1.1–1.7¢ depending on route/date) each after 2025 due to some price.
With a 25% transfer bonus, 1 UR effectively becomes 1.25 Rapid Rewards ≈ ~1.6¢ of flight value at the 1.3¢ midpoint. For many, especially those with a Preferred card, that’s better than using your points to book through Chase’s travel site where you only get 1.25 to 1.5 cents per point. But, if you have a Reserve card, it only sometimes makes sense because they can still get 1.5 cents per point on points they had before Oct 26, 2025, until 2027, and there’s a new Points Boost thing now.

Good time to move points:

• You fly Southwest a lot and usually get around 1.3 to 1.5 cents per point.
• You just need a few more points to book something now, and the prices on the travel site aren’t as good.
• You don’t need those points for cool deals like Hyatt, Avios, or Aeroplan, where you can often get more than 1.6 cents per point.

When to hold off

• You think your points are worth about 2.0 cents each (which is doable if you find some sweet deals).
• If you have a Reserve card, booking through Chase Travel can still get you 1.5 cents on points you already have (or maybe even more on certain Points Boost bookings).

Key Terms & Gotchas

1. No Companion Pass credit. Neither the transferred points nor the 25% bonus count toward Companion Pass or elite tiers—this is explicit in the promo terms and Southwest rules. 
2. Transfers are one-way and final. You can’t send points back to Chase. 
3. Timing. Expect instant base posting; the bonus can lag up to 7 days (don’t cut it too close to the deadline). 
4. Minimums. Chase transfers in 1,000-point increments (minimum 1,000). 

Realistic examples

Example A (one-way trip): You can grab a Wanna Get Away fare for just 8,000 Rapid Rewards points.

If you have a bonus, you only need 6,400 UR points (6,400 x 1.25 = 8,000). If Rapid point is worth 1.3¢, that means you’re getting a $104 flight for just 6,400 UR points, which comes out to about 1.62¢ per UR point. That’s a better deal than redeeming through a portal at 1.25¢, and it’s even a bit better than a Reserve redemption at 1.5¢.

Example B (high-demand date): That same flight now costs 12,000 Rapid Rewards points.

Now, you’d have to transfer 9,600 UR points. If Rapid point is worth 1.1¢ on a busy date, it’s like getting a $132 flight for those points, which is about 1.38¢/UR. If that’s the case, using your Reserve points at 1.5¢ (if you can) might be the smarter move.

This is why we always say to compare the cash price to the points price before you move your points over.

How to Do the Transfer

Okay, so you want to move your Chase Ultimate Rewards points to Southwest Rapid Rewards? Here’s how to do it simply:

1. First, pick your Chase card that earns Ultimate Rewards (like the Sapphire Preferred, Sapphire Reserve, or Ink Preferred).
2. Then, head over to the Transfer to Travel Partners part of the Chase Ultimate Rewards site and find Southwest Rapid Rewards.
3. Type in how many points you want to move, but make sure it’s in groups of 1,000. Double-check that you see the note about the 25% extra points.
4. Hit submit! The main chunk of points should show up right away. The extra bonus points might take a week to show up, so don’t worry if you don’t see them instantly.