Through December 17, 2012, Aeroplan is offering tiered bonuses for points transfers from other programs, as follows:

The bonuses are based on the cumulative total of transferred points, so you can transfer points from multiple sources and have them count towards the total. You can see all the eligible transfer partners above, and you’ll notice that one of the few partners not included is American Express Membership Rewards, which is unfortunate. The bonus points should post within 7-10 days of the points transferring to an Aeroplan account.

For example, through this promotion 160,000 Starpoints would net you 240,000 Aeroplan miles. Starwood offers a 5,000 point bonus for every 20,000 points transferred, so 160,000 Starpoints typically nets you 200,000 Aeroplan miles. Then through this promotion you’d get the 40,000 bonus miles, for a total of 1.5 Aeroplan miles per Starpoint. I value Aeroplan miles at roughly 1.3 cents each and Starpoints at roughly 2.2 cents each, so that’s not a rate at which I’d make a transfer unless I had a specific great use in mind. You can also reasonably efficiently transfer Marriott Rewards points to Aeroplan through one of their travel packages, but even then I think there are better transfer options overall.

This promotion is still worth knowing about if you’re in a situation where you were going to make a transfer to Aeroplan.

(Tip of the hat to Gary)