Why do people invest in stock markets? It's simple, the opportunity to turn one dollar into more than one dollar. A major reason I regularly recommend American Express Membership Rewards earning cards is that though you can always transfer to airlines at a 1:1 ratio, occasionally you can weave one mile into more than one mile with transfer bonuses. More miles for your hard earned credit card points! Buy Buy Buy!

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American Express is one of few avenues which offer transfer bonuses. If you have a nice stash of points saved up this can be an incredible way to multiply your miles. Transfer bonuses take place on a limited time basis, feature select transfer partners and the values of the bonuses vary. In the past year, airlines like British Airways (surprisingly one of the best transfers for US fliers) offered transfer bonuses of 1.4x and 1.35x respectively. During these periods I was able to stretch 50,000 amex points into 70,000 British Airways miles. In this example, given that round trip flights in the US using British Airways miles (you fly on American or US Airways) require as little as 9,000 miles round trip, I was able to score round trip flights for 7,000 points a piece (7,000 x 1.4). Though there are no transfer bonuses currently offered, it's nice to know how to transfer when the opportunity presents itself. 

As I mentioned, transfer bonuses occur on a limited time basis. I will always make light of any meaningful transfer bonuses and the best ways to maximize your miles after you transfer. If you don't currently have an American Express card earning Membership Rewards, I highly suggest checking out this genius in-depth comparison of their two best offerings.

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