The partnership between SPG and Virgin America ends this coming Friday, January 6. The 1:1 transfer ratio also includes a bonus of 5,000 points for every 20,000 points transferred.
The partnership is ending due to the merger of Alaska Airlines and Virgin America. The two frequent flyer programs will eventually merge as well, meanwhile, you can transfer Virgin America points to Alaska at a 1:1.3 ratio. That means, 30% bonus.
Until Friday, it can be very lucrative to transfer SPG points to the Alaska program. See the simple math below:
20,000 SPG points to Virgin America = 25,000 Virgin America points.
25,000 Virgin America points to Alaska = 32,500 Alaska points.
If you have a large amount of SPG points it is definitely worth exploring this transfer deal. Alaska has many great award partners including Cathay Pacific for only 50,000 points each way to Asia in business class.