American Express Membership Rewards points transfer to a variety of different airline programs and so some hotels. Generally your best redemptions with Amex points is going to be airline transfers. And they offer occasional transfer bonuses.

Right now points transfers to Cathay Pacific are showing up with targeted bonuses.

If you look at transfer partners without logging in, you won’t see any bonus transferring American Express points to Cathay Pacific.

However log into your account and you’ll see a ‘special offer’. Mine is just for a 10% transfer, but others receive as much as 30%.

The offer terms do not say when the bonus expires,

Special Offer Terms & Conditions
You must be enrolled in Asia Miles in order to participate in this offer, visit www.asiamiles.com to enroll. American Express is not responsible for availability of flight, accommodations or any other rewards in Asia Miles. Once you have transferred Membership Rewards points, they become subject to the Terms and Conditions of Asia Miles and cannot be transferred back to your Membership Rewards program account. Taxes, fees, charges and surcharges, including airline surcharges, apply on Asia Miles redemption flights and upgrades. See Asia Miles Terms and Conditions for details. Individual air carrier restrictions may apply.

If you return to redeem points later, this offer may no longer be available. Minimum transfer is 1000 Membership Rewards points. Additional Asia Miles will be awarded at the time of transfer.

Cathay Pacific is a oneworld airline with partners like American Airlines, Qantas, British Airways and Japan Airlines. Their awards are often less expensive, especially for premium cabin long haul, than transferring your miles to British Airways.

Here’s the Asia Miles saver award chart with one way pricing for Cathay Pacific (and Cathay Dragon) travel.

And here’s the oenworld chart. It’s distance-based and applies when you fly two oneworld carriers not counting Cathay Pacific itself.

Cathay Pacific First Class

(HT: RichardInSF)