What are Chase Ultimate Rewards points worth?
Chase Ultimate Rewards points have a base value of $0.01 per point and can be redeemed for cash back at that rate. With Chase travel cards, you can get 25% to 50% more value on travel reward redemptions. That gives them a value of $0.0125 to $0.015 per point when redeemed through the Chase Travel portal.
It's possible to get even more value by transferring your points to Chase's airline and hotel partners. With points transfers, the value you get depends on what you end up booking. Some award airfare and hotel stays will get you $0.01 per point or less. But you can also find redemptions worth $0.03 per point or more.
Do Chase Ultimate Rewards points expire?
Chase Ultimate Rewards points don't expire as long as the credit card with the points is open. If the card is closed, any remaining points will be lost. That's why you should never cancel your credit card without redeeming your unused rewards points first or moving them to another one of your Chase cards.
You'd also lose your points if Chase decided to close your account. Although credit card companies can close an account at any time, it doesn't happen often. The most common reasons Chase would cancel your card are if you:
- Don't make your minimum payment for at least 90 days
- Declare bankruptcy
- Commit fraud, either with your Chase card or with its rewards program
Can you buy Ultimate Rewards points?
No, you can't buy Ultimate Rewards points. Chase used to allow cardholders to purchase points, but it discontinued this feature in 2012.
Combining your Chase points onto one credit card
If you have multiple Chase credit cards, here's how to move points between cards:
- Log in to your Chase Ultimate Rewards account.
- Select "Rewards details," and then choose "Combine points" from the dropdown menu.
- Choose the card that has the points you want to move and the card that will receive the points.
- Enter the amount of points you want to move.
- Submit the transfer.
Your points will be transferred instantly. If you're wondering why you'd do this, there are several potential reasons:
- To use your rewards for travel. If you have a Chase cash back card, you can transfer its rewards to a Chase travel card. This turns your cash back into travel points.
- To get more for your points. The Chase Sapphire Reserve® has the best rate ($0.015 per point) with the Chase Travel portal, Pay Yourself Back, and Chase Dining. If you have that card, you should move your points onto it before redeeming them through those methods.
- To simplify redemptions. It's more time-consuming to redeem points when they're spread across multiple credit cards. You can redeem more points at once by combining them onto a single card.
How to use your Chase points to book the travel you want
The challenge with Chase points is figuring out the best way to use them for the trip you want. Here's a simple method that will help you book travel with your Chase points.
1. Start in the Chase Travel portal
Decide what type of travel you want to book with your points, and search for it on Chase's travel portal. For flight and hotel bookings, we're going to compare how much you'd pay in the travel portal versus transferring your points.
If you want to book anything besides a flight or hotel, the comparison isn't necessary. You can transfer points to book airfare or hotel stays, but the travel portal is your only option for other types of travel.
The following steps will cover what to do for flight and hotel bookings.
2. Look up prices for award airfare and hotel stays
Visit the websites for any Chase travel partners you could use for your trip. Plug in your trip details and select the option to pay in points/miles.
This will show you how much the various airlines and hotels would charge for award bookings, which is also how many Chase points you'd need.
3. See which option costs fewer points
Now you've checked prices in the Chase Travel portal and for award bookings, you can compare them and pick whichever costs less.
If there's not much of a difference, it's better to go with the travel portal. Since it will count as a cash travel purchase, you'll likely be able to earn rewards in the airline or hotel's loyalty program. Your Chase card's travel protections will also apply. Neither would happen with an award booking.
4. Book your travel
Either make your purchase through Chase's travel portal or select the option to transfer points to a partner.
If you transfer your points, you'll be able to book your award airfare or hotel stay once the transfer is complete. With most Chase travel partners, this happens instantly.
Best ways to use Chase Ultimate Rewards points
There are a few redemption options that tend to get excellent value for your points.
1. Business-class and first-class airfare
If you're aiming for peak value, expensive flights are where it's at. The absolute best deals are usually business-class and first-class seats on international flights. It's possible to get $0.03 per point or much more on those. First-class seats on domestic flights can also be a great deal.
2. Hyatt hotel stays
While value isn't great on most transfers to Chase hotel partners, Hyatt is the notable exception. Its awards chart has much better prices than most of the competition. When transferring Chase points to Hyatt, it's often possible to get $0.02 per point or more.
3. Redemptions through the Chase Travel portal
The Chase Travel portal offers a useful alternative to points transfers. If award bookings are too expensive or unavailable, you can still book through the travel portal. It's a good idea to get the Chase Sapphire Reserve® if you think you'll use this method often. That way you can take advantage of its $0.015 per point rate on travel redemptions.
Worst ways to use Chase Ultimate Rewards points
There are some spectacular redemption options available in the Ultimate Rewards program, but there are also those that get you very little per point. Without further ado, here's the Hall of Shame:
1. Award flights with high fees
British Airways and Virgin Atlantic are the most notorious offenders here. The enormous surcharges they often tack on to award tickets make it so you're practically paying in points plus cash.
You can still find some good award ticket deals with these airlines. But make sure you check the fees first to see if you're really getting a deal.
2. Award stays with hotels other than Hyatt
IHG and Marriott are lackluster choices for award stays as you'll usually get around $0.01 per point.
Instead, go through the Chase Travel portal to apply the cash value of your points toward bookings with these hotels. You'll get an equal or better value, and you'll earn points with the hotel on the booking.
3. Cash back and gift cards
The only time you should get cash back from Ultimate Rewards points is if it's an emergency. Otherwise, stick to using your travel card for travel rewards.
Gift cards are almost always a waste of time and points. Most of these offers get you $0.01 per point, and you can only use the gift card with one retailer.
See the world and pay with Chase points
The great thing about Ultimate Rewards points is their versatility. No matter where you're going, you can use your points to book a flight and a place to stay.
It may seem complicated at first, but it doesn't take that long to get the hang of redeeming your points. And as you search for award travel through the Ultimate Rewards program and its partners, you'll better understand how to get the most value on every redemption.
Still have questions?
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