What is Chase Ultimate Rewards?
Chase Ultimate Rewards? is the premier loyalty program offered by Chase Bank that allows cardholders to earn and redeem points on their purchases. Through this program, cardholders have access to Chase Travel where they can redeem points for hotels, rental cars, flights, and more.
This extra-flexible program remains one of the best credit card loyalty programs, with high-value redemption options and great transfer partners.
Your Chase Ultimate Rewards? points are capable of more than you may realize, and some redemption options are a better deal than others. Additionally, some Chase credit cards offer higher redemption rates on travel than others.
We’ll break it down for you in this comprehensive guide to Chase Ultimate Rewards? to help you get the most out of your credit card.
What are Chase Ultimate Rewards points worth?
The value of Chase Ultimate Rewards? points varies based on how they are redeemed. Generally, points are worth about 1 cent each when redeemed for cash back or gift cards.
However, points can be worth more when redeemed for travel through Chase Travel? or transferred to travel partners. For example, when using points for travel through Chase Travel, points are worth 1.25 cents each (25% more) with the Chase Sapphire Preferred? Card and 1.5 cents each (50% more) with the Chase Sapphire Reserve?.
?? Learn more: Maximizing rewards with the Chase Trifecta
Do Chase Ultimate Rewards? points expire?
Chase Ultimate Rewards? points do not expire as long as your account remains open, in good standing and you have at least one Ultimate-Rewards-earning card open. If you close all of your accounts, any unused points will be forfeited.
Options to redeem Ultimate Rewards points
1. Travel through Chase Travel?
Value of this option: 1 to 1.5 cents
One of the best ways to redeem your points is through Chase Travel?, especially if you have a travel credit card such as the Chase Sapphire Preferred? Card, Chase Sapphire Reserve?, or Ink Business Preferred? Credit Card.
- With the Sapphire Preferred or Ink Preferred, you can redeem your points at 25% more value, so 1.25 cents apiece.
- With the Sapphire Reserve, you can redeem your points at 50% more value or 1.5 cents apiece.
- Other cards, like the Chase Freedom Unlimited? and the Ink Business Cash? Credit Card, have a value of 1 cent per point when redeemed through Chase Travel.
2. Transfer partners
Value of this option: Variable, but highest potential
Chase has a solid list of airline and hotel transfer partners, and transferring your points to their loyalty programs can offer significant value. All points can be transferred at a 1:1 ratio to these partners, meaning if you transfer them to the right program, they can be worth over 2 cents apiece.
Airline partners:
- Aer Lingus
- Air Canada
- Air France-KLM
- British Airways
- Emirates
- Iberia
- JetBlue
- Singapore
- Southwest
- United
- Virgin Atlantic
Hotel partners:
- Hyatt
- InterContinental Hotels Group
- Marriott
3. Statement credits or cash back
Value of this option: 1 cent
Points can be redeemed for cash back (via statement credits or a direct deposit) at 1 cent per point, so 1,000 points are worth $10.
4. Gift cards
Value of this option: 1 cent
Gift cards are typically worth 1 cent a point, but you may be able to score a deal. Occasionally, Chase sells certain gift cards at a discount, boosting the overall value of your points.
5. Shop with Points
Value of this option: 0.8 cents
You can use your Chase Ultimate Rewards? points through Amazon to pay through the Shop with Points program. While this is convenient, it’s arguably the worst way to redeem your points as they’ll only be worth roughly 0.8 cents apiece.
6. Chase Dining
Value of this option: Variable
Chase Ultimate Rewards? points can be used to pay for dining experiences through Chase Dining. Through the website Tock, cardholders can use their Ultimate Rewards? points to make reservations, order takeout or pay for food orders.
This is a great option for Chase Sapphire Reserve cardholders, as this card offers a reward-earning rate of 10 points per dollar spent on Chase Dining.
7. Chase Experiences
Value of this option: Variable
Certain card members can redeem points for exclusive events through Chase Experiences. These events can range from private dinners at unique locations with high-end chefs to luxury travel packages.
For example, Chase Sapphire Reserve cardholders could buy tickets to the exclusive “Dinner on the Court” series—a unique dining experience held on the court of San Francisco’s Chase Center (home of the NBA’s Golden State Warriors).
Best ways to use your Ultimate Rewards points
There’s no “best” way to use your Chase Ultimate Rewards? points since the best option will depend on your lifestyle and the card you have.
However, these are the three options that will likely get you the most bang for your buck:
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Transferring to select travel partners. Some of Chase’s travel partners have valuable points through their loyalty programs, so transferring points at a 1:1 ratio can be very beneficial. For example, Hyatt points are worth upwards of 1.7 cents each, meaning 10,000 Ultimate Rewards? points can be worth $170.
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Booking travel through Chase Travel?. If you have the Chase Sapphire Preferred? Card, Chase Sapphire Reserve?, or Ink Business Preferred? Credit Card, you can redeem your points for significant value through Chase Travel. Rather than the standard 1 cent per point, they’ll be worth 1.25 cents each on the Sapphire Preferred or Ink Business Preferred and 1.5 cents each on the Sapphire Reserve.
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Gift cards, sometimes. If you can catch a good discount on a gift card through Chase, your points could be worth decently more than the standard 1-cent value.
That said, redeeming for statement credits, Chase Experiences or Chase Dining isn’t a bad deal if they strike your fancy. We don’t recommend the Shop with Points option through Amazon, since your points would be worth less than 0.8 cents each.