Chase Ultimate Rewards® Explained: How to Earn and Redeem Points in 2025
Key takeaways
- Chase Ultimate Rewards® points are typically worth anywhere from 0.8 cents to 2 cents per point, depending on redemption, and do not expire.
- You can get the most value out of Ultimate Rewards points by transferring to travel partners.
- Redeeming points via the Chase TravelSM portal can give you a 25% to 50% points boost if you have one of the Sapphire cards.
- Chase Ultimate Rewards® can also be used for cash back, gift cards and merchandise.
Chase Ultimate Rewards® is a popular and versatile credit card rewards program aimed at frequent travelers. Strategic cardholders who understand the program well can leverage Chase cards to maximize spending across purchase categories and then redeem earned points for travel through Chase or one of its transfer partners where they are worth the most.
Learn more about the best ways to earn and redeem Chase Ultimate Rewards® points.
| Chase Ultimate Rewards® quick facts | |
|---|---|
| How to earn Chase Ultimate Rewards® points | Earn points with personal and business credit cards, including the Chase Sapphire Reserve® (see rates & fees), Chase Sapphire Preferred® Card (see rates & fees), Chase Freedom Flex℠ and Ink Business Preferred® Credit Card (see rates & fees). See more ways to earn Chase points below. |
| How to redeem Chase points | Redeem for cash back (1 cent per point), gift cards, merchandise, Pay with Points, travel through Chase or 1:1 point transfers to travel partners |
| Chase point value | ~2 cents each when transferred to travel partners |
| Chase transfer partners | 11 frequent flyer programs and three hotel loyalty programs, including Southwest, United and Hyatt |
| Pros | Earn higher rewards rates when you make travel purchases through Chase TravelSM Points transfer 1:1 to airline and hotel partners Access flexible options like cash back, merchandise and gift cards Pool points from Chase cash back credit cards for premium travel redemptions |
| Cons | Only three Chase travel credit cards earn transferable points on their own Some redemptions get you less than 1 cent per point Points earnings are low on gas and groceries |
How much are Chase points worth?
However, the value of your points will depend on which card you have and how you redeem your points:
- For most Chase cards, the Chase Ultimate Rewards® value is simple. They’re worth 1 cent per point when used toward cash back, travel expenses and gift cards.
- The Chase Sapphire Preferred® Card and Chase Sapphire Reserve® allow you to earn extra rewards when you make purchases through the Chase TravelSM portal.
- If your Ultimate Rewards card has transfer partners, you can also transfer your rewards to partner loyalty programs where they can be worth around 2 cents each.
Value of 1,000 Ultimate Rewards points
| Form of redemption | Value |
|---|---|
| Cash back | $10 |
| Gift cards | $10 |
| Chase Ultimate Rewards® transfer partners | $20 |
| Pay with points on Amazon.com, PayPal | $8 |
| Apple Ultimate Rewards store | $10 |
Are Chase Ultimate Rewards® worth it?
The Chase Ultimate Rewards® program offers high-value, flexible redemption options, including 1:1 point transfers to major travel partners. While there are comparable rewards programs — including American Express Membership Rewards, Capital One Miles and Citi ThankYou® Points — Chase Ultimate Rewards® may offer more versatility. It has high-value travel redemptions, allows for easy points transfer between your other Chase cards (including household member accounts) and offers a points boost when redeemed for Chase TravelSM on its Sapphire cards.
What we like about Chase Ultimate Rewards®:
Points don’t expire
You can transfer points at a 1:1 rate to 11 airlines and three hotel partners
You can redeem points for cash back at a value of 1 cent per point
You can pool points from no-annual-fee cards to annual-fee cards to boost their value
Chase Ultimate Rewards® transfer partners
- AerClub, loyalty program of Aer Lingus
- Air Canada Aeroplan
- British Airways Executive Club
- Emirates Skywards®
- Air France KLM Flying Blue
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards®
- United MileagePlus®
- Virgin Atlantic Flying Club
- IHG® Rewards Club
- Marriott Bonvoy®
- World of Hyatt®
Chase Ultimate Rewards® credit cards
You can earn and redeem Chase Ultimate Rewards® with many cards. However, to transfer points to Chase travel partners, you’ll need one of the following cards:
- Chase Sapphire Reserve®
- Chase Sapphire Preferred® Card
- Ink Business Preferred® Credit Card
You might also prefer a cash back card with no annual fee and more straightforward redemption options. Each type of card has its own advantages.
For example, the Chase Freedom Flex℠ allows you to capitalize on your top spending categories each quarter, plus in other everyday spending categories. You’ll earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter. Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases. Then, you can transfer those extra earnings over to your Sapphire card and use them for travel directly or transfer those rewards to travel partners.
| Credit Cards | Our Ratings | Welcome Offer | Rewards Rate | Annual Fee | |
|---|---|---|---|---|---|
Chase Sapphire Preferred® Card
|
75,000 points
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
| 1X - 5X points
| $95 | ||
Chase Sapphire Reserve®
|
125,000 points
Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
| 1X - 8X points
| $795 | ||
Chase Freedom Flex℠*
|
$200 cash bonus
Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
| 1% - 5% cash back
| $0 | ||
Chase Freedom Unlimited®
|
$200 cash back
Intro Offer: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
| 1.5% - 5% cash back
| $0 | ||
Chase Freedom Rise® Credit Card*
|
$25 statement credit
Earn a $25 statement credit when you sign up for automatic payments within the first three months of opening your account and remain enrolled for at least 90 days.
| 1.5% cash back
| $0 | ||
Ink Business Preferred® Credit Card
|
90,000 points
Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.
| 1X - 3X points
| $95 | ||
Ink Business Cash® Credit Card
|
$750 cash back
Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening.
| 1% - 5% cash back
| $0 | ||
Ink Business Unlimited® Credit Card
|
$750 cash back
Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
| 1.5% cash back
Earn unlimited 1.5% cash back on every purchase made for your business
| $0 |
Learn more about how to apply for a credit card to improve your chances of being approved.
What is the Chase 5/24 rule?
Other ways to earn Chase Ultimate Rewards® points
Chase’s Refer-A-Friend program allows you to earn points if your friend gets a Chase card. Share a customized referral link with your friends, and if they get an eligible card from that link, you’ll earn a bonus.
| Card | Earning potential |
|---|---|
| Chase Freedom credit cards | Can earn up to $50 per referral, up to $500 per year |
| Chase Sapphire credit cards | Can earn up to 15,000 points per referral, up to 100,000 points per year |
| Chase Ink cards credit cards | Can earn up to 20,000 points per referral, up to 100,000 points per year |
You can earn points by using the online shopping portal, Shop Through Chase. If you have a big purchase coming up, you can get anywhere between 1 to 15 extra points per dollar, depending on the store. The mall, or online shopping portal, includes more than 1,000 participating stores with brands like Macy’s, Best Buy and more.
Clicking on one of the stores takes you to their respective online portals, where you can complete your purchase as usual. But be careful that you don’t close the merchant’s website — if you do, you’ll have to go through the Chase portal again to get the extra points.
Chase offers special promotions and points-earning rates from time to time. To maximize your Ultimate Rewards points, keep an eye on your email and your Ultimate Rewards account for these promotions.
You should also keep an eye on the sign-up bonus for your card for the first 90 days after you sign up. If the offer increases, you can call and see if Chase will match the new bonus amount.
Purchasing gift cards can help you earn additional points on purchases that otherwise wouldn’t qualify for an increased earning rate — just make sure you’ll be eligible for points before you purchase gift cards with your credit card.
For example, Ink Business Cash® Credit Card users can earn 5 points per dollar at office supply stores. Staples, an office supply store, sells gift cards to places that aren’t normally covered by the card’s bonus categories, like restaurants.
Best ways to use Chase Ultimate Rewards®
Generally speaking, you’ll get the most value by redeeming Ultimate Rewards for travel. You can redeem points through the Chase TravelSM portal or transfer them to Chase’s travel partners.
Redeem Chase Ultimate Rewards® through the travel portal
Redeeming your points for travel through the Chase TravelSM portal is one of the best ways to get the most value out of your Ultimate Rewards, especially if you have a Sapphire card to boost your points 25% or 50%. Compare market-rate hotel and airline cash prices with the cost in points through the portal. Try to get a rate of at least 1 cent per point, or more if you have a Sapphire card.
Redeem with Chase transfer partners
Transferring to Chase travel partners can provide excellent value. While the redemption rate varies, savvy shoppers can get more from their points by transferring to high-value partners at a 1:1 ratio.
For example:
- Transfer to Southwest Rapid Rewards, valued at 1.4 cents per point
- Transfer to United MileagePlus, valued at 1.3 cents per point
- Transfer to World of Hyatt Rewards, valued at 2 cents per point
Savvy traveler trip
Other ways to use Ultimate Rewards
- Cash back: At 1 cent per point, the Ultimate Rewards redemption value is higher than some other similar programs.
- Gift cards: Use your points to buy gift cards at a rate of 1 cent per point. Sometimes, Chase offers discounts for specific gift cards, which raises the value.
- Pay with points with Amazon or PayPal: The redemption value drops to 0.8 cents per point.
- Pay yourself back: Ultimate Rewards points may be redeemed for a statement for eligible purchases within the last 90 days, at a rate of 1 cent per point.
Frequently asked questions
No, Chase points don’t expire as long as your account remains open. However, you’ll forfeit your points if you violate the terms of the Rewards Program Agreement — this includes things like fraudulent activity, bankruptcy and failure to pay.
Points that are earned on Amazon Visa (see rates & fees) or Prime Visa (see rates & fees) from Chase are not transferable to the Ultimate Rewards program. However, Amazon points do have redemption options beyond just shopping at Amazon, including cash back, gift cards and travel through the Chase TravelSM portal.
Yes, you can transfer your Ultimate Rewards points between your own Chase card accounts or to the account of an authorized user in your household. You can transfer between Ultimate Rewards accounts, or you can transfer Ultimate Rewards points to an eligible person’s partner program account (for example, moving your Ultimate Rewards to your spouse’s Marriott Bonvoy® account).
Chase’s travel, cash back and business cards earn Chase Ultimate Rewards® points. These include: Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, Chase Freedom Unlimited®, Chase Freedom Flex℠, Chase Freedom Rise® Credit Card, Ink Business Preferred® Credit Card, Ink Business Unlimited® Credit Card and Ink Business Cash® Credit Card. Chase co-branded cards do not earn Ultimate Rewards.
The information related to the Chase Freedom Flex℠, Chase Freedom Rise® Credit Card and Amazon Visa has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
