Update 3: Don’t forget that you can also borrow miles from AMEX. And also don’t forget that you can status-match your Delta status to other airlines (like Continental) and be elite through 02/29/12 on other airlines as well!
Update 2: It’s worthwhile to note that as long as you have an AMEX Charge Card with Membership Rewards you can actually buy the 50,000 points (or smaller amounts if you have some points) directly from AMEX for $1,280 ($1,250 at 2.5 cents per point plus $30 excise tax) which will get you 75,000 Delta miles and Silver Medallion Elite Status good through 02/29/12.
Originally posted on 11/04:
Update: Commenters are reporting that the 50% bonus miles and the 25K MQMs are posting immediately! Be sure to register before transferring!
You’ll definitely want to print up a copy of this offer and of the confirmation page if you use it! It doesn’t appear to be targeted and it let me register for it without any error.
You’ll get a 50% mileage bonus on any amount of AMEX points transferred to Delta by 12/15/10.
Plus if you transfer 50,000 AMEX points you’ll also get 25,000 MQMs which is enough to get elite status on Delta. With Elite status you will get free checked luggage, upgrades on paid and on award tickets, and much more.
Beware that Delta miles are worth much less than most other miles as they charge much more for most trips and they are part of the Skyteam Alliance, which has very poor award availability. They’re called “Skypesos” for a reason!