Since all of my airline accounts have enough miles in them for at least one business class ticket to anywhere in the world, I wait for bonus offers before transferring points. For example,
- Delta Airlines regularly offers bonuses of at least 30% for transferring American Express Membership Rewards points to its miles.
- U.S. Airways is currently offering a 50% bonus for transferring hotel points to its miles. This month my transfer of 60,000 Starwood Starpoints netted me 112,500 miles, which, along with a few miles previously in that account, gives me a current balance that is enough for a business class ticket anywhere in the world on any Star Alliance carrier.
I try to keep track of all of these bonus offers on the Registration and Other Bonuses page of my website below.