How Much Are Chase Ultimate Rewards Points Worth?

The Chase Ultimate Rewards program allows you to redeem your points in different ways, including transferring them to various airline and hotel loyalty programs. A Chase Ultimate Rewards point’s value varies between 1 to 1.5 cents in most cases. However, the card you use affects your points’ worth, as does your redemption method.

For example, if you have the Chase Sapphire Reserve® Card and use your points through the Chase travel platform, you get a value of 1.5 cents per point. This value changes to 1.25 cents per point with the Chase Sapphire Preferred® Card.

When redeemed for cash back, the value of Chase Ultimate Rewards points remains the same across all cards. However, this differs if you use the Pay Yourself Back alternative launched in 2020, which offers a value of 1.25 cents to 1.5 cents per point.

If you’re wondering how to use Chase Ultimate Rewards points to get the best value, this is usually possible by transferring your points to an airline frequent flyer program.

How much Chase Ultimate Rewards points are worth depends on two primary factors. These include which card or cards you have and how you choose to redeem your points. For example, Chase Sapphire Reserve cardholders may expect better value than others when redeeming their points through the Chase Ultimate Rewards portal. You can expect to get the best deal when transferring your points to select travel partners.

The value of Chase Ultimate Rewards points is on par with what you may expect for your points or miles through other credit card rewards programs. The fact that you may transfer your points from one Chase card to another allows you to maximize the value of your points.

For example, the Sapphire Reserve Card gives you a value of 1.5 cents per point when redeemed for travel through Chase's portal. By transferring points or cash back from another Chase card that provides a lower value to this card, you get to increase the points value you receive.

To maximize your reward-earning potential, you may consider getting the Chase trifecta. You can make the most of your spending through different bonus categories.

Remember that a Chase Ultimate Rewards point's value varies based on the redemption method, as with most other credit card reward programs.

No matter which Chase Ultimate Rewards credit card you have, when you redeem your points for cash back, you get a value of 1 cent per point. This value is better than what you can expect through American Express or Capital One.

You can log in to the Chase Ultimate Rewards platform to redeem your points for cash back. To do this, select Cash Back from the redemption options. You may receive your cash back as a statement credit or a direct deposit into an eligible checking or savings account.

Remember that a statement credit would not count as a payment, and you still need to make at least your minimum monthly payment.

If you redeem your points for gift cards, you can expect to get a value of 1 cent per point. However, Chase offers gift cards at discounted prices from time to time, giving you the ability to get a better deal for your points.

When redeeming Chase Ultimate Rewards points for gift cards, you can start by logging in to the Ultimate Rewards portal. Then, select Gift Cards and choose the ones you want.

If you wish to use your points to make travel bookings through the Ultimate Rewards portal, the value you get depends on the card you have. For instance, the Chase Sapphire Reserve Card gives you a value of 1.5 cents per point when redeemed for travel.

On the other hand, the Chase Sapphire Preferred Card offers a value of 1.25 cents per point. It changes to 1 cent per point with the Chase Freedom Unlimited Card.

One of the Chase Ultimate Rewards benefits is that you may transfer your points from one Chase card to another to get better value. For example, you could transfer the points you earn through your Chase Freedom Unlimited® Card to your Chase Sapphire Reserve® Card to get better value for the former's points when redeemed for travel through the Ultimate Rewards portal.

You can log in to the Ultimate Rewards portal to use Chase Ultimate Rewards points for travel. Choose Travel from the redemption methods on offer. You may then use your points to pay for flight tickets, hotel stays, car rentals, cruises, vacation rentals or experiences.

While no official Chase Ultimate Rewards redemption chart highlights the value you receive for your points, all transfers occur at a 1:1 ratio. However, just how much Chase Ultimate Rewards points are worth when transferring to an airline or hotel loyalty program depends on the transfer partner you select and a few other factors.

For example, you may expect better value when you transfer your points to Air Canada Aeroplan than Emirates Skywards or Virgin Atlantic Flying Club. In addition, you can expect to receive better value when you use your transferred points to book flight tickets across particular routes.

You sometimes get better value when you use your points to book a business class ticket instead of an economy class ticket. That is the case if you transfer your points to the British Airways Executive Club or the Virgin Atlantic Flying Club and use your points to fly business class from New York to London. In both these examples, you can expect a value that’s upwards of 3 cents per point.

Transferring your points to Chase Ultimate Rewards transfer partners requires that you log in to the Ultimate Rewards portal. Then, select the Transfer to Travel Partner option and check out your available choices.

If you plan to redeem your Ultimate Rewards points to pay for purchases, the value you receive depends on the partner merchant you use. For example, if you use your points to shop at Amazon.com, you'll receive 0.8 cents per point, less than what you get by redeeming them for cash back or gift cards. On the other hand, if you buy Apple products through the Chase platform, you get a value of 1 cent per point.

To use your points with Amazon.com, you can link your eligible Chase card to your Amazon account. During checkout, use the Chase Ultimate Rewards option as the payment method. If you wish to use your points to purchase Apple products, log in to the Ultimate Rewards portal and select Apple as the redemption method.

If you’re looking to earn Chase Ultimate Rewards points, here are our picks of the best Chase cards for various use cases. Cash back cards from Chase also earn Chase Ultimate Rewards points, which can be redeemed for 1 cent per point.

• Flexible rewards with large bonus: Chase Sapphire Preferred® Card
• No annual fee: Chase Freedom Unlimited® Card
• Consistent travel rewards: Chase Freedom Unlimited® Card
• Bonus travel rewards: Chase Sapphire Reserve® Card
• Business travel perks: Ink Business Preferred® Credit Card

Chase commonly offers bonus points to new cardholders if they meet their new card's spend-based requirement. Some cards that let you earn extra points or cash back through welcome offers include the Sapphire Preferred, Sapphire Reserve, Freedom Unlimited and Freedom Flex.

You also earn bonus points if you refer qualified people for new cards. If you have the Sapphire Preferred credit card, you get 15,000 bonus points for each successful referral, up to a maximum of 75,000 points each year. With the Sapphire Reserve credit card, you get 10,000 points per successful referral, up to a maximum of 50,000 points each year. The Freedom Unlimited and Freedom Flex credit cards also come with this benefit.

Remember that not all Chase rewards cards link to the Ultimate Rewards program. However, they may still offer good value based on what you're after. For example, the Marriott Bonvoy Bold® Credit Card might work well for you if you wish to earn Marriott Bonvoy points without paying an annual fee. On the other hand, the Marriott Bonvoy Bountiful credit card, with its $250 yearly fee, is ideal for people who stay at Marriott properties frequently and are looking for premium benefits.

Using the Shop Through Chase portal and making purchases with the program's partner merchants allows you to earn points faster. You may earn 1X, 2X, 3X or 5X points per dollar, depending on the merchant you select. Sometimes, you may earn up to a whopping 25X points per dollar. For others, you may earn a fixed number of points per purchase.

Chase runs the Ultimate Rewards program for several consumer and business credit cards. Depending on your card, you may earn bonus points through category-based spending. How much Chase Ultimate Rewards points are worth depends on your card and the redemption method.

One distinguishing feature of the Chase membership program is that it lets you transfer points from one card to another. This flexibility allows you to maximize the value you receive through different cards. However, being unable to purchase points to cover the cost of a seemingly great reward might be a drawback in some instances.

Compared to rewards programs run by other popular card issuers such as American Express, Capital One and Citi, the Ultimate Rewards program manages to hold its ground.

We’ve answered commonly asked questions about the value of Chase Ultimate Rewards points to help you determine which redemption method might work best for you.