Well my first thought is, is this really worthwhile? Well 10,000SPG does transfer into Virgin at 1:1 so will result in 10,000 Virgin miles. Likewise, Virgin then transfers at 1:1 into IHG. So 10,000SPG becomes 10,000IHG, fair enough, right? Well, no. Each transfer represents a terrible destruction in value. I value SPG points at 2.5c but Virgin miles at only 1.5c and IHG points I'm afraid at only 0.7c. Hence with 10,000SPG valued at $250 they then transfer to 10,000VS worth only $150, which then transfers for 10,000IHG worth only $70. So that's $250 of points outbound and only $70 incoming. Awful, just awful.

But your plan is to use these to requalify for Spire and this has 2 benefits, firstly, the straightforward 25,000IHG requalufication points and secondly the extra 5 points per $ you'll earn on your IHG stays next year. In fact adding the 25,000IHG Spire points to the 10,000IHG converted from SPG/VS does give a final value into your IHG account of 35,000 points, worth $245. You're effectively back where you started, well minus $5 which you'll get from the extra Spire points on your first $150 of spending at IHG in 2018. So, crazy as it sounds this transfer does pass the "smell test".

My next thought here was I would wait till December and just transfer what I needed but in fact due the minimum transfer criteria from Virgin to IHG being 10,000 miles, there's no point in waiting, as long as you're utterly and absolutely sure you'll fall short by year end. Don't forget, as already pointed out, the 1,000, 2,000 and 5,000 bonus point rates all post their bonuses as qualifying so if you have just a couple more stays planned this year and can find hotels offering the 5,000 point bonus rate (not all do) it would easily be worth an paying the extra $25-$50 each night to get those and negate the need for this destructive transfer.

All said and done though, yes, I'd do the transfer in these circumstances. I struggle to qualify each year at IHG spending about $3,000 plus taxes. That gains me 30,000IHG. I also have the UK IHG card which makes another 30,000IHG. Finally I buy a couple of 5,000 bonus rates each year and a few 1000/2000 bonus rates for accelerate or just because they're cheap, and hence crawl over the finishing line each December grabbing my 25,000 requal points just before new year! Without those couple of 5,000 bonus point rates each year I'd not make it, but planning and keeping an eye out means I usually get the extra points for only £10 or £20 more than the cheapest flex rate so they make sense on their own.

Contrary to what many say around here, I think the redemption options on IHG are great, last month I was at the excellent Budapest IC for a long weekend upgraded to a Danube view room on 35k points per night and this month I'll be at the IC LA Century City for another long weekend spending 2 years credit card Certs and 60kIHG. Pointbreaks give a great value weekend away somewhere different at a HIX with the kids, they love ordering a giant Pizza into the breakfast room and staff have always been great about providing plates and cutlery and the TV station of their choice. Good times! Clean, cheap places you can take the kids and a touch of luxury for the adults, it's well worthwhile keeping the Spire membership and it's bigger pointsearning you can...