We consider the Chase Ultimate Rewards points to be among the most valuable of all the reward currencies. They are prized because of their flexibility and the relative ease of earning them.
Another benefit is that you can combine these points with one family member.
Chase Ultimate Rewards Redemption Options
There are 3 options to redeem Chase Ultimate Rewards points
These are in increasing order of potential value.
- Redeem for cash or statement credit at a value of 1 cent per point. This means 50,000 points can be traded in for $500 in actual cash. While this is a terrible redemption generally, it is still real cash in your pocket, which is not insignificant.
- Book your travel within the Chase Ultimate Rewards portal at a value of 1.25 cents per point (or 1.5 cents per point if you have the Chase Sapphire Reserve). So 50,000 points equals $625 of travel booked through the UR portal. While this is not an especially good redemption rate, the flexibility is significant and depending on your travel needs this is a plausible option.
- Transfer your Chase UR points to one of their 13 transfer partners. These points are actually sent, with just a few clicks of the mouse, from your Chase UR account to your account at one (or more) of the airline and hotel transfer partners.
You can transfer them in any multiple of 1,000 points and in most cases these transfers occur instantly.
The flexibility this affords is significant as you can retain these points in your Chase account until the moment you need to redeem them; you find the award availability, transfer your points, hit refresh in your rewards account and they will be there to use for your booking.
Partner Options:
Our favorite transfer partners are: British Airways, United, Southwest and Hyatt
Other options: Jetblue, Iberia, Aer Lingus, Flying Blue (Air France & KLM), IHG, Marriott, Virgin Atlantic, Singapore Airlines and Emirates.
This redemption option #3 is the most potentially lucrative, but with that upside comes the limitations of award availability at the airlines just like with traditional frequent flyer miles (which they become upon transfer).