Good morning!!
Hi {{first_name | there}},
I hope you had a refreshing weekend! Here’s this week’s highlights. Amex continues to tighten up how to use your credits and will start to require a 2-night minimum for FHR stays starting in 2027. That’s the worst news this week.
There are some new transfer bonuses and Citi will now transfer to Copa at a 1:1 rate.
Nothing else too crazy, which is good!
Table of Contents
TPG’s State of Loyalty
I’m a big nerd when it comes to these reports that use survey data to gauge consumer habits. The Points Guy launched their first annual State of Loyalty report and surveyed nearly ~2,200 US adults to see what Americans find valuable with their loyalty program along with participation rates.
Some key highlights.
Grocery (68%) and credit card (60%) programs have the most members. Airline (40%) and hotel (39%) programs have similar enrollment to retail and dining, but far fewer people actively redeem: 12% for airline and 10% for hotel.
Only 28% of airline loyalty members feel very or extremely confident they’re getting the most from their rewards. That’s the lowest of any category. Fuel is the highest at 53%.
Nearly four in five people say they aren't willing to pay a higher annual fee for more premium benefits or exclusive access.
People want immediate savings with their loyalty. This includes fee waivers for airlines or free award nights with hotels.
Within credit cards, Chase was the most popular program with 28% of responses vs. 23% highlighting Capital One and only 11% saying they participate with Amex

Source: 2026 TPG x YouGov State of Loyalty Survey
My takeaways
People want something easy to understand and easy to use. The majority of people will never use their points & miles effectively, likely sticking with cash back, a travel portal redemption, or transferring to domestic airlines they are familiar with (Amex→Delta makes up the vast majority of points transfers from Amex from what I’ve heard).
If you are willing to put in effort, there’s still a lot of juice left to be squeezed from award travel in my opinion.
Alaska Airlines
Alaska Airlines just announced 2 new international routes that are interesting!
1) Seattle to Tahiti (PPT) starting on June 4, 2027
2) Seattle to Osaka (KIX) starting on May 14, 2027
They also have a growing network across the US!
Autumn flights are here
Cool air, colorful leaves or a whole new city skyline: There's still time to book your fall escape with Alaska Airlines. Watch the aspens turn golden in Denver, catch a set on Broadway in Nashville, or trade sweaters for sunshine in Palm Springs. However you picture autumn, we fly there.
Fall is the perfect season for a quick reset. Maybe you're craving crisp hikes through New England, a weekend of orchards in the Pacific Northwest, or a food crawl through a city you've never explored. Whatever your version of autumn takes you, we've got a flight to get you there. Fly nonstop or connect to hundreds of destinations nationwide.
Flights start at great prices, so taking a little fall break won't break your budget.
Subject to availability. Terms and conditions apply.
Amex updates hotel benefits and Airbnb updates host rules
Amex Platinum cards will have a $300 semi-annual hotel lodging credit. Starting January 1, 2027, the $300 semi-annual FHR & THC credit will become a lodging credit that can also be used for prepaid Airbnb Luxe' bookings in addition to Fine Hotels & Resorts and The Hotel Collection.
However, starting in 2027, you’ll also now need to meet a 2-night minimum at FHR hotels to get the $300 semi-annual credit. Previously, you could book for 1 night and get the credit. If you have 8 Amex Biz Plats, I am so sorry.
Also, what is Airbnb Luxe? They’re very luxurious rentals, with prices that could make your eye water in most markets. Kind of like the really fancy FHRs that most of us wouldn’t book. There are some more affordable options in lower-cost markets like SE Asia though.
The good news is you probably won’t be asked to take the trash out anymore if you stay at an airbnb, Luxe property or not. (Airbnb updates)

Source: Airbnb options in Bali

Source: Airbnb options in Rome
New transfer partners & bonuses
I use Frequent Miler to keep up with all the transfer bonuses.
Citi just added Copa as a transfer partner with a 1:1 rate if you have Citi Strata Elite/Premier, Prestige, or AT&T Access More. Otherwise it is a 1:0.7 rate with other cards. Copa is part of Star Alliance and has some non-alliance partners as well such as Air France, Emirates, and Iberia. I haven’t been able to easily find good awards through Copa, but I’m sure there are some sweet spots that exist. Upgraded Points highlights some potential sweet spots.
Citi also just launched a 10% transfer bonus to Cathay, making it a 1 to 1.1 transfer rate. It’s supposed to run through Nov. 14, but sometimes Cathay ends transfer bonuses early.
Capital One adds 30% transfer bonus to Virgin Atlantic through 11/20, making it 1 to 1.3 transfer rate.
Amex has 35% bonus to Marriott through 12/10. This makes it 1 to 1.35 transfer rate. Probably not worth it unless you need to top off points given how hard it is to get outsized value with Marriott points.
Other news to highlight
New route alert: Air Serbia launching Miami/Belgrade route in May 2027 (One Mile at a Time)
Credit card companies continue to fight back on “gamers” (The Wall Street Journal)
JetBlue offers unlimited free first class upgrades to Mosaic elites (One Mile at a Time)
JetBlue also potentially facing financial issues based on how their asset-backed debt is trading (View from the Wing and The Wall Street Journal)
Amex Business Platinum holders get coworking space in 6 US cities through ZO by Tishman Speyer (Upgraded Points)
Citi adds $100 semi-annual InKind dining credits for AA Executive Card (View from the Wing)
Emirates will pay you 1 mile per minute for staying in Dubai, up to 7,200 miles (Emirates)
IRS working on taking credit card payments directly. Not set up yet but could potentially open up nice credit card or prepaid debit card payments (Bloomberg)
Largest United Club opens in Houston (The Points Guy)
Deal of the week
Aer Lingus has some pretty good last-minute business class availability for as low as 45k points (Alaska) to 60k points (through BA). Boston/Shannon also has availability through early March.


