Since 2020, transfer bonuses have evolved from occasional promotions into a constant, strategic feature of the points ecosystem. What used to be a handful of predictable annual offers is now a rolling cycle of targeted and public bonuses across nearly every major transferable currency. This shift accelerated between 2022 and 2024, and by early 2026 the landscape is defined by: More frequent—but less predictable—bonuses Increasing competition between issuers The emergence of h