Complete Guide to Chase Ultimate Rewards

If you’re new to redeeming points and miles for travel, Chase Ultimate Rewards is one of the best programs to start with — and one of the most rewarding to stick with long term.

Chase has built one of the most valuable loyalty ecosystems in the game, offering some of the best travel credit cards, flexible redemption options, and a long list of transfer partners that unlock premium travel experiences around the world.

So, if you’re ready to cozy up to Chase and learn all about its dreamy qualities (think dreamy blue eyes, reliable perks, and the ability to fly you to your favorite destinations), let’s dive in.

What are Chase Ultimate Rewards?

Chase Ultimate Rewards is the flexible points currency tied to Chase-branded credit cards, such as the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve®.

You can earn Ultimate Reward points through purchases, welcome bonuses, a shopping portal, and more — and then redeem them for a variety of rewards, including:

• Travel (through Chase Travel℠ or via transfer partners)

• Cash back

• Gift cards

• Apple purchases

• Experiences

Even better? Ultimate Rewards points never expire as long as you keep at least one qualifying Chase card open.

What are Chase Points Worth?

While the exact value depends on how you redeem them, as a general rule of thumb, Chase points are typically worth around two cents per point when used strategically for travel. In most cases, if you redeem them for cash back, they will be worth just one cent apiece.

Here’s a quick breakdown:

If you want to calculate the value of a specific redemption before you transfer and redeem them for travel (versus paying with cash), there’s a simple formula you can use:

(cash price) - (taxes and fees) / (points cost) = value per point

For example, this flight from Vancouver to Amsterdam on KLM costs 28,000 Air France/KLM Flying Blue miles or $611 if paying cash.

Keep in mind that booking award flights still requires you to pay taxes and fees, which we’ll incorporate into the process.

Using the above calculation, this specific redemption scenario would look like:

$611 - $92.32 / 28,000 = .019

Since the unit we are working with is dollars, this is .019 dollars per point, or 1.9 cents per point. This should be considered a pretty fair, middle-of-the-road deal.

Now let’s discuss how you can start earning thousands of points to book a flight like this in the first place.

How to Earn Chase Ultimate Rewards

The more Chase points you earn, the more options you have for free or nearly free travel.

Here are some of the best ways to rack up Chase Ultimate Rewards points fast:

1. Sign up for credit cards

Getting a Chase credit card is one of the fastest ways to earn a large sum of points, all thanks to valuable welcome offers that could bless you with 60k, 80k, or even 100k points after meeting a certain spending requirement.

Just know that welcome offers change from time to time, so these are just examples.

Two of our favorite Chase credit cards include the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® — keep in mind, you can only have one of these Sapphire cards (Chase’s rules, not ours).

They are two very different cards that offer different levels of perks, benefits, an annual fees — the Sapphire Reserve is the more premium version with an annual fee of $550, while the Sapphire Preferred is the fan-favorite with a more friendly annual fee of $95.

If you’d like a deep-dive into the specifics of these cars, you can check out our card review pages for both the Sapphire Preferred and the Sapphire Reserve to determine which one might be your best fit.

2. Use the Chase Ultimate Rewards Shopping portal

Chase’s online shopping portal, Shop Through Chase®, lets you earn extra points for online purchases at hundreds of retailers — often 2x–10x points per dollar.

This portal is only accessible after you log in to your Ultimate Rewards account, and you must own a card that earns Ultimate Rewards points (or points redeemed for cash back) in order to use the portal. Unfortunately, that means none of Chase’s co-branded cards (like airline or hotel cards) qualify for the online shopping portal.

It works similarly to other online shopping portals, such as Rakuten. Using the screenshot above, if I’m looking for a new cycling jersey, I could either go directly to Backcountry’s site to purchase one for $80 and get 80 points (at 1x points per dollar), or I could go to Backcountry’s site via Chase’s online shopping portal and earn 4x points per dollar for that same jersey — that’s 320 points total!

If I sprung a pop quiz on you and asked which option you should choose… I’d hope you would say option two. Seriously, pick option two.

3. Refer friends

If you want to cool it on the spending for a bit, Chase’s Refer-A-Friend bonus is another great way to earn a stack of points without spending a penny.

Chase’s Refer-A-Friend program lets you earn bonus points when someone applies for a card through your referral link and gets approved. Bonuses typically range from 15k to 40k+ points, depending on the card and promotion.

4. Be strategic with your spending categories

Not all spending categories on cards are the same. Use different cards for different spend categories to optimize your point haul.

For example, if you have the American Express® Gold Card which earns 4x Membership Rewards per dollar at restaurants worldwide (up to $50,000 per year, then 1x after that) and at U.S. supermarkets (up to $25,000 per year, then 1x after that), and then you have another card that only earns you 1x point per dollar on those same categories… which one are you going to use the next time you have to get groceries?

It is the simplest of simple math to see how you could earn quadruple the amount of points just by strategically using one of your cards on a certain spending category.

This type of practice to maximize your point-earning potential often involves the Chase credit card trifecta concept.

Here are some cards you could use to create a Chase trifecta:

•  Sapphire Preferred for its 2x points per dollar earned on travel purchases

• Chase Freedom Flex® for its 5% cash back on rotating quarterly categories

• Chase Freedom Unlimited® for its 1.5% cash back on all other purchases as the “catch all”

And because you hold the Sapphire Preferred, you can effectively convert the cash back earned on the Freedom Unlimited and Freedom Flex into fully transferable Ultimate Rewards — a huge win!

5. Add an authorized user

Sometimes Chase offers a bonus when you add an authorized user — typically after they make a purchase within a certain timeframe. It’s not guaranteed, but it’s worth checking your account or calling to ask.

How to Redeem Chase Ultimate Rewards

Okay, y’all. Let’s be real. This is the fun part!

You’ve done the hard work of diligently meeting a spending requirement and optimizing your point earnings through shopping portals and spending categories. Perhaps you’ve even referred a friend or two.

You’re now sitting on a big stack of points and ready to spend them.

Also, that right there is a pro tip. Some people want to keep sitting on their points and let the pot grow, but you never know when a point system will be devalued.

Earn and burn, my friends. Earn those points, then find a way to redeem them for your next trip. Trust me, you can and will earn more in the future.

When it comes to redeeming, you have three main options:

1. Fixed-value (cash back) options for travel or non-travel

2. Chase Ultimate Rewards travel portal bookings

3. Transfer partner bookings

Remember, your points are there to save you money, so however you make that happen should be considered a win. But there are more favorable ways to do this, and there are less favorable ways.

It’s always good practice to try and maximize your points’ value when redeeming them, so if you have the option to redeem at two cents a piece versus .8 cents, I’d like to think you’d pick the two cents option.

1. Fixed-Value Redemption for Travel or Non-Travel

Chase Ultimate Rewards can be redeemed for a statement credit at a fixed rate of one cent each (FYI, this also holds for gift cards).

But we can do better than that. I would personally avoid redeeming my Chase points for just one cent apiece.

2. Chase Ultimate Rewards Travel PortalBookings

Next up is the ability to book travel through the Chase Ultimate Rewards portal by redeeming points for flights, hotels, rental cars, and other travel experiences at a fixed rate through Chase Travel℠.

For example, if you have the Sapphire Preferred, you’ll get a 1.25 cent-per-point redemption value. If you have the Sapphire Reserve, that goes up to 1.5 cents per point.

Using the Chase travel portal may not always get you the highest value for your points, but it offers convenience, no blackout dates, and lets you stack points with airline or hotel loyalty programs. Plus, it takes out the hassle and worry of transferring points, which can feel daunting if you are new to this whole miles and points thing.

3. Transfer Partner Bookings (Best Value)

This is where things get exciting, especially if you’re after those business-class flight or luxury hotel redemptions.

Chase partners with over a dozen airline and hotel transfer partners, so you have a lot of redemption possibilities. Points transfer at a 1:1 ratio, so 10,000 Chase points = 10,000 miles or hotel points.

Here are Chase’s current airline transfer partners:

And here are Chase’s hotel transfer partners:

Transfers are typically instant, but remember: transferring points is a one-way street. Once you transfer Chase points, you can’t move them back. So always have a booking ready before initiating a transfer.

If you’d like a step-by-step guide of how to actually transfer your points, you can reference our Go-To Guide for Credit Card Transfer Partners.

Bottom Line

Chase Ultimate Rewards is one of the most powerful and beginner-friendly points programs out there — thanks to easy earning potential, strong credit card options, and powerful transfer partners.

Whether you’re just getting started or you’ve got your eye on a premium redemption, Chase makes it easy to earn fast and make your travel goals a reality.