Ultimate Rewards points are the currency of most Chase-branded credit cards and have maintained their place as one of the most valuable and useful points currencies. With valuable products like the Chase Sapphire Reserve, Chase Sapphire Preferred Card, and Ink Business Preferred Credit Card, Chase Ultimate Rewards points offer a wide range of rewards for everyday spending.
One of the most valuable ways to redeem your Ultimate Rewards points is by transferring them to travel partners. Chase has 14 different transfer partners, including 11 airline programs and 3 hotel programs. The transfer ratios are 1:1, meaning that for every Ultimate Rewards point you transfer, you will receive one point in the partner program. Transfers can be made in 1,000-point increments.
Most transfers from Chase Ultimate Rewards to partner programs are instantaneous, with the exception of transfers to Singapore Airlines KrisFlyer and Marriott Bonvoy, which can take up to two business days. It’s important to note that transfer bonuses can be inconsistent, so it’s best to check for any current transfer bonuses before making a transfer.
To transfer your Chase points to partners, you can easily do so online. Log in to your Chase account and navigate to the Ultimate Rewards portal. Under the Travel drop-down, select “Transfer to Travel Partners” to access the main transfer page. From there, you can select your desired transfer partner, link your external account if necessary, choose the number of Ultimate Rewards points you want to transfer, and submit the transfer. Keep in mind that once a transfer is made, it cannot be reversed, so it’s best to wait until you have a specific use in mind before transferring your points.
There are several Chase transfer partners that offer great value for your Ultimate Rewards points. One of the best hotel transfer options is Hyatt, thanks to its low award chart rates. You can book top-tier Hyatt hotels for just 35,000 points per night during off-peak dates, which is a great deal considering the high cash rates of these properties. For flights, there are several sweet spots to be found, such as Iberia flights to Madrid for as low as 34,000 Avios round-trip in economy, flights to Hawaii with Alaska and American for only 32,000 Avios round-trip, ANA flights booked through Virgin Atlantic for 145,000 miles round-trip in first class, and short-haul flights to Canada with Aeroplan for under 6,000 miles one-way.
In terms of value, The Points Guy values Ultimate Rewards points at 2.05 cents apiece. However, the value can vary depending on how you redeem them. Transferring to travel partners generally offers the best value, but you can also redeem them through the Chase travel portal for 1.5 cents per point (for Sapphire Reserve cardholders) or 1.25 cents per point (for Sapphire Preferred or Ink Business Preferred cardholders). Chase Pay Yourself Back is another option, allowing you to redeem points for statement credits at an enhanced value. Additionally, there are occasional offers to use points for Apple products or gift cards at an enhanced value. Finally, if you prefer cash back, you can redeem your points for simple cash back at a value of 1 cent per point.
There are many ways to earn Chase Ultimate Rewards points, depending on the specific Chase credit card you have. Some cards earn fully transferable Ultimate Rewards points, while others are billed as cash-back credit cards but can be converted into Ultimate Rewards points if you have an Ultimate Rewards-earning card. Some of the cards that allow you to earn Ultimate Rewards points include the Chase Sapphire Preferred Card, Chase Sapphire Reserve, Ink Business Preferred Credit Card, Chase Freedom Flex, and Chase Freedom Unlimited.
In conclusion, Chase Ultimate Rewards points are a valuable and versatile currency that can be earned through everyday spending on Chase-branded credit cards. With a wide range of transfer partners and various redemption options, these points offer great value and flexibility for travelers. Whether you choose to transfer them to travel partners, redeem them through the Chase travel portal, or use them for cash back, Chase Ultimate Rewards points are a valuable asset for maximizing your rewards.