For the past few years, Amex has offered a monthly(ish)-long promo where you get bonus points when you transfer Amex Preferred Rewards points to British Airways. They don't publish a schedule, so whenever the first of the year rolls around people start speculating if, when, and how long the bonus will be this year.
Well wait no longer! Until 31 January 2015, you get a 40% bonus when transferring.
I'm still waiting to get more information about my brother's spring party in Tokyo, so I'll probably wait a bit before transferring anything. The main beauty of transferrable point cards like Amex Premier Rewards and Chase Sapphire is that you can transfer them, usually instantly, to an airline Frequent Flyer plan when you've found available award seats. It lets you keep points in a "neutral" place until right before you need them, and you can usually transfer into most of the big airline alliances so they're a great defense against getting tricked into loyalty to a single carrier.