OCBC offering up to 70% transfer bonus to Marriott Bonvoy

OCBC has launched a new transfer bonus for Marriott Bonvoy, which gives a 50-70% bonus on all transfers completed by 31 August 2024. 

Given how hard it is to earn hotel points in Singapore through credit cards, this has the potential to be a decent offer- but only if you can unlock the upper bonus tier of 70%, which requires a hefty minimum conversion of 100,000 Marriott Bonvoy points. 

OCBC offering up to 70% transfer bonus to Marriott Bonvoy

From 1 July to 31 August 2024, eligible OCBC cardholders can redeem 90°N Miles, OCBC$ and VOYAGE Miles for Marriott Bonvoy points with a bonus of 50-70%. 

The applicable bonus depends on how many points you transfer.

Transfer <100,000 Marriott Bonvoy points (50% bonus)

1,000 90°N Miles	1,000 1,500 points
1,000 VOYAGE Miles	1,000 1,500 points
10,000 OCBC$	4,000 6,000 points
A minimum transfer of 1,000 90°N /VOYAGE Miles and 10,000 OCBC$ is required, but subsequent conversion blocks are 100 90°N /VOYAGE Miles and 1,000 OCBC$.

Transfer at least 100,000 Marriott Bonvoy points (70% bonus)

1,000 90°N Miles	1,000 1,700 points
1,000 VOYAGE Miles	1,000 1,700 points
10,000 OCBC$	4,000 6,800 points
A minimum transfer of 1,000 90°N /VOYAGE Miles and 10,000 OCBC$ is required, but subsequent conversion blocks are 100 90°N /VOYAGE Miles and 1,000 OCBC$.

The bonus will be applied automatically, with no registration required. It’s unclear from the T&Cs whether the 100,000 Marriott Bonvoy points includes the bonus component, but I think it’s safer to assume it doesn’t. 

Do note that there is a cap of 500,000 bonus Marriott Bonvoy points, so you’ll max it out with a transfer of 714,285 90°N/VOYAGE miles, or 1,785,714 OCBC$.

Base and bonus points will be awarded together at the time of transfer, which should be more or less instant.

Remember, to transfer OCBC points to programmes other than KrisFlyer, you’ll need to visit STACK Rewards platform (KrisFlyer transfers remain on the legacy OCBC Rewards portal). Click on the Points Exchange tab, and scroll until you see Marriott Bonvoy, then proceed with the transfer.

OCBC is waiving all admin fees for STACK partners until 30 September 2024 (KrisFlyer transfers are not made via STACK, and will continue to attract the usual S$25 fee).

Terms & Conditions

The T&Cs of this offer can be found here.

Is it worth it?

Let’s do some maths here. I value 1 Marriott Bonvoy point at around 0.7 cents (USD), or 0.94 cents (SGD).

• With a 50% bonus, you are implicitly getting 1.4 cents (SGD) of value per mile
• With a 70% bonus, you are implicitly getting 1.6 cents (SGD) of value per mile

That’s not exactly sensational value, given that you should be getting much more than that with First or Business Class flight redemptions. However, given how hard is it to earn hotel points in Singapore, I can understand why some people will be tempted. Do remember that you’ll need to convert at least 100,000 points to get the 70% bonus, though, which is no small amount. 

For the sake of comparison, consider the situation for an AMEX Platinum Charge or Centurion Cardholder, who can convert 400 MR points into 250 miles, or 400 Marriott Bonvoy points. In that case, you are implicitly getting 1.5 cents (SGD) of value per mile, which is already better than the 50% bonus for OCBC cardholders! Of course, you need to keep in mind that MR points will be harder to earn than OCBC points, given so it might not be a fair comparison either. 

OCBC’s other transfer partners

Back in July 2023, OCBC finally launched its new airline and hotel transfer partners. While more variety is always a good thing, the problem with OCBC is that many of its transfer ratios are just fundamentally unattractive. There’s no reason to take a haircut on British Airways or Asia Miles transfers, for example, when other banks offer them at the same ratio as KrisFlyer.

Transfer Partners
	90°N Miles & VOYAGE Miles	OCBC$
	1:1 (VOYAGE)	25,000 : 10,000
	1,000 : 1,000 (90°N)
	1,000 : 1,000	10,000 : 4,000
	1,000 : 1,000	10,000 : 4,000
	1,000 : 1,000	10,000 : 4,000
	1,000 : 900	10,000 : 3,600
	1,000 : 900	10,000 : 3,600
	1,000 : 750	10,000 : 2,900
	1,000 : 700	10,000 : 2,800
	1,000 : 500	10,000 : 2,000
All ratios expressed as OCBC points : partner miles/points

This means you’ll want to wait for transfer bonuses to come along before cashing out your OCBC points, assuming you want something other than KrisFlyer or Flying Blue miles. 

Conclusion

OCBC is now offering a 50-70% transfer bonus for Marriott Bonvoy until 31 August 2024, with a minimum conversion of 100,000 points required to unlock the maximum bonus. There is a cap of 500,000 bonus Marriott Bonvoy points, but I doubt the average cardholder is in any danger of breaching it.

I’m rather lukewarm about this offer, though if nothing else it’s good to see OCBC being regular about the transfer bonuses- given their regular transfer ratios, they sure need it!

Will you be taking advantage of this offer?

(HT: Justin)