Most travellers know that transferring credit card points to airlines unlocks big value. Fewer realise the same trick works with hotels, and the gap between a good hotel transfer and a bad one is enormous. Transferring Chase points to Hyatt can be worth more than 2 cents per point, while transferring Amex points to Hilton often returns less than 1 cent. The partner you choose matters more than the number of points you have. Here is how to get hotel transfers right.

World of Hyatt is the single best hotel transfer partner in the points world, and it is exclusive to Chase Ultimate Rewards. Hyatt's award chart is simple, with off-peak, standard, and peak pricing, and top-tier hotels cost 30,000 to 45,000 points a night. Cash prices for those same rooms often run 400 to 800 dollars, which means your Chase points can be worth 2 cents or more when transferred to Hyatt. No other hotel program consistently delivers that value.

Hyatt also has no resort fees on award stays, which saves another 30 to 50 dollars a night at many properties. The catch is footprint: Hyatt has far fewer hotels than Marriott or Hilton, so it does not cover every destination. But when Hyatt has a hotel where you are going, it is almost always the best use of your points. Check Hyatt first, every time.

Marriott Bonvoy accepts transfers from Chase and Amex, but its dynamic pricing means the same room can cost wildly different points on different nights. A room that costs 50,000 points on a quiet Tuesday might cost 90,000 on a busy Saturday. Marriott transfers are usually worth around 0.7 to 0.9 cents per point, which is below the value of simply booking through the Chase travel portal at 1.25 to 1.5 cents. The exception is the fifth-night-free benefit: book four award nights and the fifth is free, which can push the value above the portal rate on longer stays.

Hilton Honors accepts Amex transfers at a 1 to 2 ratio, meaning 1,000 Amex points become 2,000 Hilton points, but Hilton points are worth only about 0.5 cents each, so the effective value is around 1 cent per Amex point. That is not terrible, and Hilton's huge footprint and fifth-night-free benefit make it useful for aspirational stays at resorts and luxury properties. But for ordinary hotels, you will usually do better booking through a portal or transferring to Hyatt.

Never transfer points speculatively. Transfers are one-way and irreversible: once your Chase points become Hyatt points, they cannot go back. Only transfer when you have found the exact room you want, confirmed the award price, and checked that it is available for your dates. Award availability can vanish while you hesitate, so have the hotel and dates ready before you start the transfer, and move quickly once you do.

Watch the ratios and the timing. Most hotel transfers are 1 to 1, but Amex to Hilton is 1 to 2 and Amex to Marriott is 1 to 1. Transfer times vary too: Chase to Hyatt is usually instant, while Amex to Marriott can take a day or two. Do not transfer points the night before a stay and expect them to arrive in time. And remember that award stays usually do not earn elite night credit or points, so factor that into the value.

Use this order every time: first, check Hyatt with Chase points, and book it if the value beats 1.5 cents per point. Second, check Marriott with a fifth night free if you are staying five nights or more. Third, compare the portal price: if the portal gives you 1.25 cents or more per point, and the transfer gives you less, book through the portal. Fourth, consider Hilton only for luxury stays where the cash price is very high.

This simple order prevents the most common mistake in hotel points: transferring to the first program you think of instead of the one that pays best. Points are a currency, and like any currency, they should be spent where they buy the most. A few minutes of comparison routinely saves 100 dollars or more per stay.