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AMEX is offering a 35% bonus on transfers to Marriott Bonvoy through December 31, 2024. Normally, AMEX points transfer to Marriott points at a 1:1 ratio, but with this bonus, for every 1,000 American Express Membership Rewards points you transfer to Marriott Bonvoy, you’ll receive an extra 350 points.

If you’re just a little short of the points needed for a Stay 5, Pay for 4 award booking, this can be a good opportunity to transfer points. Also, if you see a hotel you want and the points redemption is especially attractive, transferring points to book it can make sense. However, if you don’t have an immediate use for Marriott points, they’re generally not worth stockpiling, especially since the highest transfer bonus has been 50%.