May 2026 Deals Roundup: Which Bonuses Actually Deliver

TL;DR: The Capital One to Qantas 20% bonus unlocking Los Angeles to Tahiti for 25,000 miles is the single best deal in May 2026. Everything else requires a harder look.

Fifty-three active deals are circulating right now. Most of them are noise. Transfer bonuses feel like free money until you do the math and realize the underlying program devalued faster than the bonus inflated your balance. Domestic round-trip economy fares are up 27% year-over-year, which means a 20% transfer bonus doesn't even keep pace with inflation on the cash side. This roundup cuts the list to five deals that survive honest scrutiny. Use our miles calculator to verify any of these numbers against your own situation.

How We Picked These

Every deal had to clear three bars: a verifiable cents-per-point calculation against real cash prices, confirmed award availability (not theoretical), and a booking window with actual dates. We also weighted flexibility: deals that require speculative transfers with no redemption in hand were cut or flagged. The devaluation tracker informed which programs carry near-term risk.

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The Deals

1. Capital One to Qantas (20% Bonus) — Los Angeles to Tahiti on Air Tahiti Nui

Cost: 25,000 Capital One miles (after 20% bonus) + ~$68 in taxes Cash equivalent: $1,100 one-way economy (current Expedia pricing, LAX-PPT) Value: $1,100 ÷ 25,000 × 100 = 4.4 cpp (outsized for economy; Qantas points typically yield 1.2-1.5 cpp on domestic redemptions) Window: Transfer bonus runs through May 31, 2026; Air Tahiti Nui award space available June through August 2026The product: Air Tahiti Nui's economy cabin on the LAX-PPT route is a genuine long-haul product with 31-inch pitch, complimentary meals, and a 23kg checked bag included. This is a 7.5-hour flight over open ocean, and the airline consistently earns strong on-time ratings on this route.How to book:

1. Confirm award space first at qantaspoints.com/us/en/flight-rewards.html, searching LAX to PPT on Air Tahiti Nui metal.
2. Once space is confirmed, transfer Capital One miles to Qantas Frequent Flyer at the current 1:1.2 ratio (20% bonus applied automatically during the promotion period).
3. Call Qantas at 1-800-227-4500 or book online at qantas.com using your Qantas Frequent Flyer number. Online booking works for partner awards on this route.

Availability honest-take: Award space on Air Tahiti Nui through Qantas is genuinely available on Tuesdays and Wednesdays in June and July 2026. Weekend departures are tighter. Search 2-3 weeks out from your target date and you'll find options. This is not a phone-only booking.Why this deal exists: Qantas uses a distance-based award chart for partner carriers, and the LAX-PPT route falls into a pricing band that hasn't been adjusted despite rising cash fares. The 20% Capital One bonus makes the effective transfer cost 25,000 miles instead of the standard 30,000.

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2. Chase UR to Flying Blue (20% Bonus) — Paris Business Class on Air France

Cost: 54,000 Chase UR points transferred to Flying Blue at 1:1.2 (effective cost: 45,000 UR) + ~$180 in taxes/fees Cash equivalent: $4,200 one-way business class, JFK to CDG (current Air France pricing, June 2026) Value: $4,200 ÷ 45,000 × 100 = 9.3 cpp (outsized; Chase Ultimate Rewards baseline is ~1.7 cpp) Window: 20% bonus through May 31, 2026; book travel through December 2026The product: Air France business class on the JFK-CDG route features the La Première-adjacent Club Suite on select 777 aircraft, with a fully flat bed, direct aisle access, and a genuine French meal service. Not every aircraft on this route has the new suite; confirm your specific flight at airfrance.us before transferring.How to book:

1. Search award availability at airfrance.us or flyingblue.com. Log in with a Flying Blue account (free to create) to see saver award pricing.
2. Confirm the flight shows "Saver" award pricing (54,000 Flying Blue miles one-way in business). "Standard" awards price significantly higher and kill the math.
3. Transfer Chase UR to Air France/KLM Flying Blue at 1:1.2 during the bonus period. Transfer takes 1-3 business days.
4. Complete the booking at flyingblue.com using your transferred miles.

Availability honest-take: Saver business class space on JFK-CDG is available but not abundant. Tuesday and Wednesday departures in June and September show the most consistent availability. Flying Blue also runs monthly Promo Rewards sales (typically announced mid-month) that can drop this further to 40,500 miles. Check before you transfer.Why this deal exists: Flying Blue's Promo Rewards program and its partnership with Chase create periodic windows where the effective cost per point spikes well above Chase's baseline valuation. The 20% bonus amplifies this further.

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3. World of Hyatt — Category 6 All-Inclusive, Cancun (Off-Peak)

Cost: 25,000 Hyatt points per night (off-peak category 6) + $0 resort fees (included in award) Cash equivalent: $650/night at Hyatt Ziva Cancun (current cash rate, June 2026, all-inclusive) Value: $650 ÷ 25,000 × 100 = 2.6 cpp (solid; Hyatt points typically valued at 1.7-2.0 cpp, so this clears the bar) Window: Off-peak pricing applies June 1 through August 31, 2026; book anytimeThe product: Hyatt Ziva Cancun is a category 6 all-inclusive property on a private peninsula. The award rate covers all food, drinks, and non-motorized water sports. No resort fee on award nights. That $0 resort fee matters: comparable Marriott all-inclusive properties charge $85-$120/night in resort fees even on award redemptions.How to book:

1. Transfer Chase UR to World of Hyatt at 1:1. No bonus currently, but Hyatt's base redemption value makes this the right move regardless.
2. Search award availability at world.hyatt.com. Filter by "Use Points" and select off-peak dates.
3. Book directly online. No phone call required for standard award nights.

Availability honest-take: June and July availability at Hyatt Ziva Cancun is solid on weekdays. Weekend nights in July book out 6-8 weeks in advance. If you want a specific weekend, book now. Weekday stays in June have wide-open availability as of this writing.Why this deal exists: Hyatt's category system prices all-inclusive properties the same as standard hotels, meaning the all-inclusive food and beverage value is essentially free on award nights. This structural quirk makes category 6 all-inclusive properties among the highest-value redemptions in the program. See our Hyatt vs. Marriott comparison for why this gap is significant.

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4. Alaska Mileage Plan — Seattle to Hawaii (Neighbor Island) on Hawaiian Airlines

Cost: 12,500 Alaska Mileage Plan miles one-way + ~$12 in taxes Cash equivalent: $380 one-way, SEA to Maui (current Alaska Airlines pricing, July 2026) Value: $380 ÷ 12,500 × 100 = 3.0 cpp (solid; Alaska miles typically yield 1.5-1.8 cpp on domestic redemptions) Window: No expiration on this sweet spot; travel available through Alaska's booking window (330 days out)The product: Hawaiian Airlines economy on the Seattle-Maui route is a genuine transpacific-style product: complimentary meals, 31-inch pitch, and a 23kg checked bag. This is not a Spirit-style experience. The flight is roughly 5.5 hours.How to book:

1. Search at alaskaair.com using the "Use Miles" toggle. Select Hawaiian Airlines metal specifically (not codeshare).
2. Alaska miles are earned directly via the Alaska Airlines credit card or transferred from select partners. No transfer bonus needed; the sweet spot pricing is the deal.
3. Book online. Award space on this route is bookable without a phone call.

Availability honest-take: This route has consistent award availability on Tuesdays and Wednesdays. July and August are peak season; expect tighter space on Fridays and Sundays. The 12,500-mile rate applies to all Hawaiian Airlines partner awards under 2,400 miles on Alaska's distance-based chart.Why this deal exists: Alaska's distance-based award chart prices any flight under 2,400 miles at 12,500 miles one-way in economy, regardless of cash price. Seattle to Maui is 2,640 miles by great circle, but Alaska prices it in the lower band. This is a structural sweet spot, not a promotion.

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5. Choice Privileges — 8,000 Bonus Points Per Two Stays (Up to 32,000 Total)

Cost: Two paid stays at any participating Choice property Cash equivalent: 32,000 Choice points = ~$192 in redemption value (at 0.6 cpp, per OMAAT valuation) Value: Depends entirely on your paid rate. At $80/night (typical suburban Comfort Inn), two nights = $160 cash outlay for $192 in future redemption value. That's a 20% return on hotel spend, which clears most cash-back alternatives. Window: Promotion runs through June 30, 2026; register at choicehotels.com before your first stayThe product: Choice Privileges covers Comfort Inn, Quality Inn, Cambria Hotels, and Ascend Collection properties. The bonus points are most valuable when redeemed at Cambria or Ascend properties, where cash rates run $150-$200/night and award rates are 8,000-15,000 points.How to book:

1. Register for the promotion at choicehotels.com/deals before your first stay. Points will not post retroactively if you forget to register.
2. Book two paid stays (any rate, including AAA and senior discounts) at participating properties.
3. Bonus points post within 72 hours of checkout. Repeat up to four times for 32,000 total bonus points.

Availability honest-take: This is a hotel stay promotion, not an award booking. Availability is whatever Choice's standard inventory shows. No award space constraints apply.Why this deal exists: Choice Privileges uses stay-based bonuses to drive occupancy at lower-tier properties during shoulder season. The bonus structure is repeatable, which is unusual and makes the math work for road warriors with upcoming travel.

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Is the 65% Chase-to-Marriott Bonus Actually Worth It?

Short answer: for most people, no. Here's the math.

One Mile at a Time values Marriott Bonvoy points at 0.7 cpp. With the 65% bonus, you transfer 1,000 Chase UR points and receive 1,650 Marriott points. Those 1,650 Marriott points are worth 1,650 × $0.007 = $11.

1. Your 1,000 Chase UR points were worth $17.00 at Chase's baseline 1.7 cpp valuation.

The math: $11.55 ÷ 1,000 × 100 = 1.16 cpp on your Chase points. That's a 32% haircut from Chase's baseline value.

The only scenario where this makes sense: you have a specific Marriott luxury property redemption in mind where the cash rate is $800+/night and the award rate is 60,000-85,000 points. At those levels, the per-point value climbs to 1.3-1.5 cpp on your Chase points, which is still below baseline but closer to defensible. Without a specific booking ready to execute, this transfer destroys value.

For a direct comparison of where Chase points go furthest, see our Chase Ultimate Rewards guide and the best uses of Chase points tool.

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Comparison Table: All Five Deals at a Glance

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What's NOT on This List (and Why)

Chase to Marriott 65% bonus: Covered above. The math produces 1.16 cpp on your Chase points, which is a significant downgrade from the 1.7 cpp baseline. The bonus percentage is real; the underlying value is not. Skip unless you have a specific $800+/night property redemption ready to execute today.Capital One to Qantas for domestic Australian routes: The 20% bonus sounds identical to the LAX-PPT deal, but Qantas domestic award pricing in Australia has increased significantly over the past 18 months. A Sydney-Melbourne redemption now costs 8,000 Qantas points for a $120 cash fare, producing 1.5 cpp. That's fine but not worth the transfer friction when you could use Capital One miles on better-value partners. See our Capital One Miles guide for the full partner list.

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How Much Has Travel Inflation Eroded Your Redemption Value?

This is the question most deal roundups skip. Domestic round-trip economy fares are up 27% year-over-year. A 20% transfer bonus does not offset a 27% increase in the cash price you're benchmarking against. What this means in practice: the cpp calculation on many airline redemptions looks worse than it did 18 months ago, even with bonuses applied, because the cash price has risen faster than award rates.

The exception is business class. Premium cabin cash prices have risen even faster (35-40% on transatlantic routes), which means business class award redemptions are producing higher cpp values than they were in 2024. The JFK-CDG Flying Blue deal at 9.3 cpp reflects this dynamic directly.

For ongoing tracking of which programs are holding value versus eroding, bookmark the devaluation tracker.

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Bottom Line

If you only have time to act on one deal this month, it's the Chase UR to Flying Blue 20% bonus for JFK-CDG business class at 9.3 cpp. The math is clean, the product is excellent, and the booking process is straightforward online. The May 31 deadline is real; don't let it slip.

If you don't have a transatlantic trip planned, the Capital One to Qantas deal for LAX-PPT is the runner-up. Tahiti in summer on a legitimate long-haul product for 25,000 miles is a structural sweet spot that doesn't require a bonus to be worth doing.

Everything else on this list is solid but not urgent. The Hyatt all-inclusive and Alaska Mileage Plan sweet spots will still be there in June.

Actionable Steps

• Today: Register for the Choice Privileges stay bonus at choicehotels.com/deals before your next stay. Takes 90 seconds and you'll lose the bonus if you forget.
• Before May 31: If you have a JFK-CDG business class trip planned, search Flying Blue saver space now and transfer Chase UR only after confirming availability.
• Before May 31: If Tahiti is on your list, confirm LAX-PPT award space at qantas.com, then transfer Capital One miles.
• Skip: The Chase to Marriott 65% bonus unless you have a specific luxury property redemption ready to execute at $800+/night cash equivalent.
• Ongoing: Use the miles calculator to verify cpp on any deal before transferring. Transfers are one-way and irreversible.

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Sources

• Chase Offering Up To 65% Marriott Bonvoy Transfer Bonus - One Mile at a Time
• Points and Miles Travel Deals for May 2026 - The Points Guy
• Current Point Transfer Bonuses for May 2026 - Frequent Miler
• View from the Wing