So you’ve just been approved for a Chase credit card like the Sapphire Preferred®, or you’re thinking about getting one. You keep hearing about the incredible power of “Ultimate Rewards points,” but let’s be honest—it can feel like a secret club with its own language of transfers, portals, and cents-per-point.
Don’t be intimidated. The Chase Ultimate Rewards program is arguably the best and most flexible rewards program for beginners, and understanding a few key concepts can unlock thousands of dollars in travel value.
This guide will demystify the entire program. We’ll cover how to earn points, what they’re truly worth, and the absolute best ways to use them for your next adventure.
Key Takeaways: The Cheat Sheet
- What They Are: Ultimate Rewards (UR) are Chase’s flexible rewards currency, like a universal travel currency you can use in multiple ways.
- How to Earn: You earn them fast with card welcome bonuses and by using Chase cards for everyday spending, especially in bonus categories like dining and travel.
- Their Value: The value of a Chase point ranges from 1 cent (for cash back) to over 2 cents (when transferred to airline and hotel partners).
- The Golden Rule: The key to maximizing value is transferring your points to high-value airline and hotel partners like World of Hyatt and United Airlines.
What Are Chase Ultimate Rewards Points?
Think of Ultimate Rewards points as Chase’s own brand of money. Instead of earning cash back or airline-specific miles, you earn these flexible points. The “flexibility” is what makes them so valuable. You aren’t locked into a single airline or hotel chain. You have options, and having options means you can always find the best deal.
How to Earn Ultimate Rewards Points (The Fun Part)
Earning a stash of UR points is faster than you might think. There are three main ways to do it.
1. With Generous Welcome Bonuses
This is the single fastest way to accumulate a large number of points. Cards like the Chase Sapphire Preferred® and Chase Ink Business Preferred® often offer sign-up bonuses of 60,000 to 100,000 points after meeting a minimum spending requirement in the first few months. A 60,000-point bonus is worth at least $750 in travel!
2. Through Everyday Spending
Each time you swipe your card, you’re earning points. The key is to use the right card for the right purchase to maximize your return:
- Chase Sapphire Preferred®: Earns 3x points on dining, online groceries, and select streaming services.
- Chase Freedom Flex℠: Earns 5% cash back (which is 5x points) on rotating quarterly categories like gas stations or Amazon.
- Chase Freedom Unlimited®: Earns at least 1.5x points on every single purchase.
3. By Creating a “Chase Trifecta”
This is a popular strategy where you hold three different Chase cards to form a point-earning super-team. For example, you could use the Sapphire Preferred for dining, the Freedom Flex for its rotating 5x categories, and the Freedom Unlimited for all other purchases. You then pool all the points you earn onto your Sapphire card.
[Internal Link Suggestion: Link to a future article titled “What is the Chase Trifecta and How to Build It?” here.]
The Big Question: What Are My Points Worth?
This is the most important concept to understand: not all redemptions are created equal. The value of one Chase point can vary dramatically.
- The Baseline: Cash Back = 1 Cent Per Point. You can always redeem 10,000 points for $100. This is your floor value. It’s simple, but it’s the worst deal you can get.
- The Good Value: Chase Travel℠ Portal = 1.25 to 1.5 Cents Per Point. If you hold a premium card like the Sapphire Preferred, your points are worth 25% more when you book travel through the Chase portal. So, 10,000 points are worth $125. If you have the premium Sapphire Reserve®, they’re worth 50% more (1.5 cpp).
- The AMAZING Value: Transfer Partners = 2+ Cents Per Point. This is the pro move. By transferring your points to airline and hotel partners, you can get exponentially more value. We’ll dive into this next.
Your Ultimate Guide to Redeeming Chase Points
Let’s break down your options, from worst to best.
Option 1: Cash Back or Statement Credits
You can redeem your points for cash at a 1:1 ratio (10,000 points = $100). It’s an easy option, but you’re leaving a lot of value on the table.
Option 2: Booking Through the Chase Travel℠ Portal
The Chase Travel portal works just like Expedia or Kayak, but you can pay with points instead of cash. With the Sapphire Preferred, your 60,000-point welcome bonus is worth a flat $750 here. This is a fantastic and straightforward way for beginners to book flights and hotels without worrying about blackout dates.
Option 3: Transferring to Airline and Hotel Partners
This is where you can turn 60,000 points into $1,200 or more of travel. Chase allows you to transfer your points at a 1:1 ratio to over a dozen loyalty programs.
Why is this so valuable? Imagine a Hyatt hotel room costs $500 per night or 20,000 Hyatt points. If you transfer 20,000 Chase points to your World of Hyatt account and book that room, you just redeemed your points for a value of 2.5 cents each ($500 / 20,000 points)!
Some of the best and easiest-to-use Chase transfer partners include:
- World of Hyatt: The undisputed king for hotel value. Their award chart is incredibly reasonable, making luxury stays surprisingly accessible.
- Southwest Airlines Rapid Rewards: Great for domestic flights. Your points transfer instantly, and if you have the Companion Pass, their value is effectively doubled.
- United MileagePlus: A solid airline partner for booking both domestic and international flights, especially on Star Alliance partners.
read Chase Sapphire Preferred vs. Capital One Venture article here.
A Quick Word on Combining Points
If you have multiple Chase cards (like a Freedom and a Sapphire), you can—and absolutely should—combine your points under your most premium card. This allows points earned on a no-annual-fee Freedom card to be transferred to partners or get the 25% boost in the travel portal, unlocking their maximum potential.
Frequently Asked Questions (FAQ)
1. Do Chase Ultimate Rewards points expire? No, your points never expire as long as you keep at least one Ultimate Rewards-earning card account open.
2. Which Chase cards earn Ultimate Rewards points? The main cards are in the Sapphire family (Preferred, Reserve), the Freedom family (Flex, Unlimited), and the Ink Business family (Preferred, Cash, Unlimited).
3. Can I transfer my points to someone else’s airline account? You can only transfer points to an authorized user on your account or a household member who shares your address.
Welcome to the World of Free Travel
The Chase Ultimate Rewards program is your ticket to seeing the world for a fraction of the cost. By understanding the fundamentals of earning and the incredible power of transfer partners, you’ve already taken the biggest step. Start exploring, get comfortable with the options, and get ready to book that trip you’ve been dreaming of.
