A point transfer is another route for redeeming your credit card rewards.. Instead of using your rewards for statement credits or to cover past travel expenses, you can transfer them to one of your credit card issuer's hotel or airline partners and then use them to cover the cost of airfare or a hotel stay.
Sometimes transferring points will get you the best value for your money, depending on the transfer ratio or current rates, as reservation prices and point values tend to fluctuate.