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Chase Ultimate Rewards can be used to book travel, cover eligible purchases, get cash back and more. If you have an eligible card, you can transfer points to Chase’s airline and hotel partners for potentially even more value. Plus, there are many ways for customers to earn these valuable points. In this Chase Ultimate Rewards review, you’ll learn how to earn and redeem points, which cards are part of the program, and how to maximize rewards.
How Can You Earn Chase Ultimate Rewards Points?
You can earn Chase Ultimate Rewards points with eligible cards by unlocking sign-up bonuses, spending in the Chase shopping portal, referring friends or simply using the card for everyday expenses.
- Sign-up bonuses. One of the easiest ways to get a large number of points quickly is by earning a sign-up bonus from a new credit card. To earn the bonus, most cards require customers to spend a specific dollar amount within a certain time frame. For example, the Chase Sapphire Preferred Card offers 60,000 bonus points for new cardholders who spend at least $4,000 within their first three months of opening accounts.
- Online shopping. You can use Shop through Chase to earn up to 15 bonus points per dollar at over 450 stores. This means that you can double dip on the Ultimate Rewards points earned on every online purchase at participating stores.
- Referring a friend. Chase offers bonuses to cardholders who refer friends to open an account. Bonus offers vary by card, and Chase also caps the points you can earn by referring friends. Keep in mind that Chase may send you an IRS Form 1099-MISC for referral income.
- Spending with eligible credit cards. When you have a card that earns Chase Ultimate Rewards, you’ll get at least one point per dollar on eligible purchases. Additionally, some cards earn extra points for spending in certain categories. Bonus categories can vary by card, or even by quarter, so choose a card that aligns with where you spend the most. Jon Nickel-D’Andrea, a travel blogger at NoMasCoach.com, recommends “utilizing bonus categories to the max. Depending on the card you have, you could be earning bonus points at hotels, restaurants or even office supply stores.”
Chase also periodically offers promotions to earn points through other activities. These offers may be targeted to select customers. Also, keep in mind that some Chase Ultimate Rewards cards are marketed as cash back cards, such as the Chase Freedom Unlimited. However, they still earn Ultimate Rewards points, which can be redeemed for cash back, gift cards and other items.
Which Chase Credit Cards Earn Ultimate Rewards?
If you’re interested in earning Chase Ultimate Rewards, there are five personal cards and four business cards to choose from. Each card has its own unique benefits and rewards, so choose the card that aligns best with your lifestyle.
Personal Credit Cards
- Annual fee: $0.
- Top rewards earning rate: 5% cash back on travel purchases through Chase Ultimate Rewards.
- Sign-up bonus: Earn an extra 1.5% cash back on your first $20,000 spent in your first year with the card for an additional $300 cash back.
- Annual fee: $0.
- Top rewards earning rate: 5% cash back on travel booked through Chase Ultimate Rewards, and 5% back on your first $1,500 spent in a rotating category each quarter. Cardholders must activate the quarterly bonus category to earn the 5% cash back.
- Sign-up bonus: Earn a $200 bonus after you spend $500 on purchases in your first three months from account opening.
- Annual fee: $0.
- Top rewards earning rate: Unlimited 1% cash back on all purchases.
- Sign-up bonus: Earn a $50 bonus after making your first purchase within the first three months from opening the account.
- Annual fee: $95.
- Top rewards earning rate: Receive five points per dollar on travel purchased through Chase Ultimate Rewards. Bookings that qualify for the card’s $50 annual hotel credit do not earn points.
- Sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.
- Annual fee: $550.
- Top rewards earning rate: Receive 10 points per dollar on hotels and car rentals booked through Chase Ultimate Rewards. You will not earn points on purchases that qualify for the card’s annual $300 travel credit. Also, earn 10 points per dollar on Chase Dining purchases through Ultimate Rewards.
- Sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.
Business Credit Cards
- Annual fee: $0.
- Top rewards earning rate: Unlimited 1.5% cash back on all purchases.
- Sign-up bonus: Earn a $750 bonus after spending $6,000 on purchases in the first three months from account opening.
- Annual fee: $0.
- Top rewards earning rate: 5% cash back on the first $25,000 spent across the following categories each account anniversary year: office supply stores and internet, cable and phone services.
- Sign-up bonus: Earn a $750 bonus after spending $6,000 on purchases in the first three months from account opening.
- Annual fee: $95.
- Top rewards earning rate: Receive three points per dollar spent on travel, shipping purchases, online advertising, internet, cable and phone services each account anniversary year. Bonus points are awarded on the first $150,000 spent in combined purchases in these categories.
- Sign-up bonus: Earn 100,000 bonus points after you spend $15,000 on purchases in the first three months from account opening.
- Annual fee: $195.
- Top rewards earning rate: Earn 2.5% cash back on purchases of at least $5,000. Note that you cannot combine rewards with other Ultimate Rewards cards.
- Sign-up bonus: Earn $1,000 bonus cash back for spending at least $10,000 in purchases in your first three months with the card.
Customers who have a legacy Chase credit card, such as Chase Freedom or Chase Ink Bold, can also earn and redeem Ultimate Rewards points.
How Can You Redeem Chase Ultimate Rewards?
After you’ve earned Chase Ultimate Rewards, there are several ways to redeem them. Some options have greater value than others, and keep in mind that options may vary depending on which card you have.
- Cash back. Points are worth 1 cent each, which means that 50,000 points equals $500.
- Gift cards. Points are worth 1 cent each when redeemed for a gift card with one of more than 175 brands. You may also be able to get gift cards at discounted prices, which provides even more value for your points.
- Eligible shopping. You can pay with points when shopping at Amazon or when using PayPal at checkout. Points are worth 0.8 cent each at Amazon and when using PayPal. Cardholders can also use the Apple Ultimate Rewards Store to purchase Apple products with points.
- Travel reservations. Book travel with your Ultimate Rewards points at a value of 1 cent per point. You’ll receive 25% more value from your points with the Chase Sapphire Preferred Card or Ink Business Preferred Credit Card and 50% more value with Chase Sapphire Reserve.
- Pay Yourself Back. Get a statement credit for eligible purchases using this feature. Points may be worth more than 1 cent when used in this way.
- Chase Dining and Chase Experiences. Eligible cardholders can use their points for events and to cover takeout and reservations.
- Transfer to hotel and airline partners. Chase partners with 14 airlines and hotels to offer eligible cardholders the opportunity to move points to other loyalty programs at a 1-to-1 rate. Occasional promotions offer a bonus when transferring to select partners.
When redeeming points through the Chase portal, you can combine points and cash. This flexibility allows you to reduce the cash price of a product or save points for other redemptions at a later time.
Where Can I Transfer My Chase Points?
Chase partners with 11 airlines and three hotel brands, so eligible cardholders have numerous options when transferring points. Ultimate Rewards points transfer to all partners on a 1-to-1 basis. You can transfer points with Chase Sapphire Preferred, Chase Sapphire Reserve and the Ink Business Preferred Credit Card.
For Chase Sapphire Preferred, Chase lists the following airline transfer partners:
And the hotel partners are:
Do Chase Ultimate Rewards Points Expire?
Your points will never expire as long as your account is open. If you want to close your account to avoid paying an annual fee, consider downgrading to a no-annual-fee card instead. Chase has multiple no-annual-fee cards that earn Ultimate Rewards, such as Chase Freedom Flex or Ink Business Unlimited.
When closing an account, you will have at least 30 days after it is closed to redeem your points. Cardholders that have multiple Ultimate Rewards credit cards may transfer points to another card before closing to avoid losing them.
Chase reserves the right to void your point balance for various reasons, including being 60 days late on payments, filing for bankruptcy, fraudulent activity on your account or misusing your account.
How Much Are Chase Ultimate Rewards Points Worth?
The value of Ultimate Rewards points depends on how you redeem them and which cards you have. Generally, you’ll need a card with an annual fee to get the most value from your Ultimate Rewards points.
For example, if you redeem points for cash back, you’ll receive 1 cent per point with any of the cards that earn Chase Ultimate Rewards points. But when used to book travel, your points could be worth 1.25 or 1.5 cents per point, depending on which card you have.
If your card permits point transfers to airline and hotel partners, they could be worth much more based on how you use them. “One of my favorite options is transferring points to Hyatt for luxury hotel vacations,” Nickel-D’Andrea says.
How Can You Maximize Chase Ultimate Rewards?
You can think about maximizing your Chase Ultimate Rewards points in two contexts: earning and redeeming. You’ll earn the most points on your spending when using a card offering a relevant category bonus. And you may be able to stack rewards when you shop online by using the Ultimate Rewards shopping portal.
Additionally, if you have multiple Ultimate Rewards credit cards, you can typically combine points into one account at no charge. This perk allows you to maximize your rewards by earning bonus points on one card, then transferring them to another to get a higher value when redeeming them. This strategy is the basis for the Chase Trifecta, where you have multiple Chase cards to earn bonus points on your top-spending categories.
Jennifer Yellin, a credit card expert at Deals We Like, is a “big fan of having multiple Chase Ultimate Rewards credit cards to maximize points on every purchase,” she says. Yellin uses Chase Sapphire Reserve for all travel and dining purchases, Chase Freedom Flex on quarterly bonus categories and Chase Freedom Unlimited for all non-bonused purchases.
Should You Use Chase Ultimate Rewards?
Chase Ultimate Rewards points are flexible and can be redeemed in a variety of ways. And if you have certain cards, you can receive even more value when booking travel, covering eligible transactions or transferring points to airline and hotel partners. When you use the Chase Trifecta strategy, you’ll maximize the number of points earned on every purchase, then benefit from free point transfers among accounts for the highest redemption values.
Chase points are valuable, but they aren’t the only flexible reward points that you can earn. American Express, Capital One and Citi also have their own credit card rewards programs that offer attractive features and benefits.
