Calculator: What's The Value of Chase Ultimate Rewards Points?

Point Value Calculator & Best Redemptions
Chase Ultimate Rewards Points are worth 1 to 2 cents each in value. Find out all the ways you can squeeze maximum value out of your points!
Last Updated 2023-04-26 By R.Flowers III

How much are Chase Ultimate Rewards points worth? The simple answer: 1 to 2 cents per point.

This means 10,000 Ultimate Rewards Points can be worth anywhere from $100 to $200 depending on how you redeem them and based on which Chase credit cards you own.

Here's a quick list of how much value you can get our of your Ultimate Rewards points on average based on redemption:

Redemption options Redemption value in cents
Point transfers to hotel partners 0.6 - 2.1
Point transfers to airline partners 1 - 2
Booking travel through Chase Ultimate Rewards 1 - 1.5
Pay Yourself Back 1 - 1.5
Redeeming points for cash back 1
Redeeming points for gift cards 1
Using points for Amazon.com purchases 0.8

When it comes to redeeming your Chase Ultimate Rewards Points, the best value can usually be found in travel options. By redeeming directly through Chase Ultimate Rewards, you can typically get a value of 1.25 to 1.5 cents per point. However, if you transfer your points to one of Chase's airline or hotel partners, you may be able to get an even higher value.

A quick note about Chase point transfers

Before we breakdown the values based on redemption, one big thing to note about the Ultimate Rewards program is that you must have an eligible Chase Rewards credit card in order to transfer points to Chase's airline and hotel partners.

You can transfer points using the following Chase-branded credit cards:

Points earned with other Chase-branded credit cards cannot be transferred directly to Chase's travel partners, BUT they can be transferred to other Chase credit cards.

For example, you can earn points with the Chase Freedom Flexâ„  and transfer those points to your Chase Sapphire Preferred Card. Now that the points are on an eligible card, you'll then be able to transfer points to Chase's airline and hotel partners.

Now with that note out the way, let's breakdown the values you'll get out of the most popular Chase redemptions.

Chase point transfers to airline partners: 1 to 2 cents per point.

The value you get out of transferring your points to Chase's airline partners will vary. If you transfer your points to one of Chase's airline partners and redeem them for economy flights, you can typically expect to get between 1.2 and 1.4 cents per point.

If you want higher value, several of Chase's partners can offer as much as 2 cents or more per point for premium and First/Business class redemptions, especially with the 5-star airlines that offer in-air suites.

Most frequent flyer programs have at least a handful of sweet spots while others offer multiple routes for great to superb redemption value. Listed below are few of our top airline picks for transfers to Chase's airline partners.

United Airlines

If you're flexible in booking your flights, you can fly business class to Europe starting at 60,000 to 70,000 miles per direction flying United and their partners. This can give your Ultimate Rewards Points some significant value.

You can also book domestic one-way flights with United starting at 5,000 miles. Short-haul flights internationally can also be useful if you plan on visiting multiple cities within a region.

united atlanta to london miles

Virgin Atlantic

Virgin Atlantic offers great redemption value on one-way flights flying from US West Coast to Asia and US East Coast to Europe.

One particular sweet spot in the program is booking Delta One flights through the Virgin Atlantic UK website (availability does not show on US site from US destinations).

For example, I found a one-way flight on Delta One from New York (JFK) to Amsterdam (AMS) for 100,000 Virgin Points plus $55.25 in taxes searching the Virgin Atlantic UK website.

That same flight through Delta is a whopping 210,000 Delta SkyMiles plus the same $55.25 in taxes.

Virgin Atlantic
Delta Air Lines

The lowest cost of the flight in cash is through Delta which is $3,297 (costs $3,318 through Virgin Atlantic). So transferring 100,000 Ultimate Rewards Points to Virgin Atlantic and redeeming them for this flight would give your points a fantastic value of 3.29 cents each.

That's significantly better than the 1.25 to 1.5 cents you would get booking through the Chase Travel portal.

British Airways

The British Airways award chart is based on distance which makes Avios very valuable when used for short-haul trips. If you're traveling to Europe and want to hit multiple destinations, Avios is the way to go.

Since British Airways is part of the oneworld Alliance, you can use Avios on short-haul trips with oneworld partners such as American Airlines and Alaska Airlines. This is particularly great for trips between the US West Coast and Hawaii.

Singapore KrisFlyer

The Singapore Airlines KrisFlyer program has a lot of sweet spots, but their most sought after product is their premium in-air suites. These suites are the definition of luxury and can provide you with one of the best airline travel experiences.

The good thing about KrisFlyer is that it is a 1-to-1 transfer partner of all major credit card rewards programs. This means you can use transfer credit card points from American Express Membership Rewards, Citi ThankYou Rewards, and Capital One Venture & Spark Rewards as well.

This makes it very easy to build rewards for the program.

Singapore Suites

Air France-KLM Flying Blue

As with Singapore KrisFlyer, the Flying Blue program is a direct 1:1 transfer partner of all major US credit card rewards programs making it easy to earn Flying Blue Miles via credit card spending and welcome bonuses.

Flying Blue offers great value when flying between the U.S. and European destinations. They are most known for their monthly promotions which can offer high redemption value.

Chase point transfers to hotel partners: 0.6 to 2.1 cents per point.

Chase point transfers to hotel partners can give you anywhere from 0.6 and 2.1 cents per point on average. The best hotel redemption partner is Hyatt by a very large margin.

World of Hyatt

If you want excellent value with little to no research, transferring your points to the World of Hyatt program is the route to take.

The Point Calculator values Hyatt Points at a (generous) 1.8 cents each. I say "generous" because it's not hard to get over 2 cents in value when it comes to redeeming points for free nights at Hyatt.

As an example, here are some bookings for a weekend in Tampa, Florida.

Transferring your Ultimate Rewards Points to the World of Hyatt for these redemptions would give your points between 2.1 and 3.8 cents in value per point which is fantastic.

While most Hyatt properties offer exceptional value, there are still chances in which you can get lower value. Such is the case with these properties in Houston, Texas.

These hotels offer between 1.35 and 1.77 cents in value with the exception of the Hyatt Place Houston/Galleria which offers a whopping 3 cents per point.

Most of these values are higher than what you'll get through the Chase Ultimate Rewards portal. Plus, you'll be booking direct so you'll receive credit towards status as well as receive benefits if you have World of Hyatt status.

Marriott Bonvoy

If you know how to redeem Marriott Bonvoy Points for great value, transferring your Ultimate Rewards Points to Marriott's program is another solid option.

The Point Calculator values Marriott Bonvoy Points at 0.7 cents, but it's possible to get significantly high value with some research.

The sweet spots for Marriott will be the low-end Category 1 and Category 2 hotels as well as their high-end Category 7 and Category 8 hotels. You can also get great value with Marriott's 5th night free benefit which triggers when you book 5 consecutive award night stay at any of their properties.

For example, the Fairfield Inn & Suites Chillicothe is a very nice Category 2 hotel that I've stayed in a few times. It is a costly hotel that only requires a few amount of points to book.

A 5-night stay at this hotel would cost 52,500 points or $890 ($178 per night w/ taxes and fees).

This redemption would give your points a value of 1.69 cents each which is great for Marriott. Overall, there are plenty of ways to get great value out of Marriott Bonvoy points.

Booking travel through Chase Ultimate Rewards: 1 to 1.5 cents per point.

The Chase Ultimate Rewards travel portal is the easiest redemption option when it comes to getting great value out of your Ultimate Rewards Points. It provides a way for you to obtain up to 1.5 cents in value per point without the need to worry about maximizing value through transfer partners.

The value you'll get out of using the Chase Ultimate Rewards portal will depend on which credit card you have:

Chase Ultimate Rewards Travel Portal Value
Chase credit card Value in cents
Chase Sapphire Reserve 1.5 cents
Chase Sapphire Preferred 1.25 cents
Chase Ink Business Preferred 1.25 cents
Other Chase-branded Credit Cards 1 cent

If you plan on primarily redeeming points through the travel portal, you're going to want to consider the Chase Sapphire Reserve due to the 1.5 cent redemption value.

While the difference of 0.25 cents per point may not seem like a lot, it quickly adds up. The table below shows how the value increases as you earn more points throughout the year.

Points Chase Sapphire Reserve Chase Sapphire Preferred & Ink Preferred Other Chase-branded cards
10,000 Points $150 $125 $100
25,000 Points $375 $312 $250
50,000 Points $750 $625 $500
75,000 Points $1,125 $937 $750
100,000 Points $1,500 $1,125 $1,000
120,000 Points $1,800 $1,500 $1,200
150,000 Points $2,250 $1,875 $1,500
300,000 Points $5,000 $3,750 $3,000

Pay Yourself Back: 1 to 1.5 cents per point.

The Chase Pay Yourself Back feature allows you to use points to offset purchases made to select Chase credit cards. This benefit was introduced in June 2020 and has been extended several times due to the popularity.

Using this benefit, you'll be able to redeem Ultimate Rewards Points for 1.1 to 1.5 cents in value depending on the card you have and the category of the purchase.

Here's the breakdown in value per card for Pay Yourself Back:

Chase Pay Yourself Back Redemption Values
Card Redemption Value Categories
Chase Sapphire Reserve 1.5 Cents Qualifying charities
Chase Sapphire Reserve 1.25 Cents Gas Stations, Grocery Stores, and the card's Annual Fee
Chase Sapphire Preferred, Chase Freedom, Chase Freedom Flex, Freedom Unlimited, Ink Business Premier 1.25 Cents Qualifying charities
Chase Sapphire Preferred 1 Cent Gas stations & grocery stores
Chase Ink Business Preferred and Ink Plus 1.25 Cents Internet, cable, phone services, and shipping
Ink Business Cash Credit Card, Ink Business Unlimited Credit Card 1.1 Cents Internet, cable, phone services, and shipping

The program has gone through several category changes since it was first introduced in June 2020, but it took it's hardest hit on January 1, 2023 when the value of the redemptions for featured categories on the Sapphire Reserve and Sapphire Preferred were lowered.

Pay Yourself Back redemptions were changed from 1.5 to 1.25 cents per point in value with the Chase Sapphire Reserve and from 1.25 to 1 cent per point in value on the Chase Sapphire Preferred (charities not included).

With this change, Pay Yourself Back is no longer considered great value and you'll be better off booking travel through Chase Ultimate Rewards or by transferring your points to Chase's airline and hotel partners.

Redeeming for cash back: 1 cent per point.

Ultimate Rewards Points can be redeemed for cash back at a value of 1 cent per point with no minimum redemption level for cash back. This applies to all Chase-branded credit cards that earn Ultimate Rewards points.

If you have a Chase Sapphire Preferred, Chase Sapphire Reserve, or Ink Business Preferred credit card, this will not be the best use of points since you can easily obtain higher value booking travel through Chase Ultimate Rewards or by transferring points to partners.

For all other Chase-branded credit cards that earn Ultimate Rewards points, redeeming points for cash back for provide the best value.

Using Amazon Shop with Points: 0.8 cents per point.

Amazon's Shop With Points program allows you to use points from various rewards programs to pay for your purchases on the Amazon website. Using your Ultimate Rewards Points on Amazon.com will give your points a value of 0.8 cent each.

Why redeem your points with Amazon when you can easily get 1 cent in value redeeming them for cash back you can use toward Amazon? Because Amazon occasionally offers cash off when you use Ultimate Rewards Points (and points from other programs) towards Amazon.com purchases.

This is typically something along the lines of:

"Get $X/X% off when you use Ultimate Rewards Points to pay for your purchases"

The big plus to these offers is that they can generally be triggered by only redeeming 1 rewards point. So, for example, you could redeem 1 Ultimate Rewards Point for $30 off and pay the remainder of the balance with your credit card.

Using one point to get a discount off a purchase is a value that can't be beat. So while the actual value of your "one point" may be 0.8 cents, you would have saved a significant amount of money on your purchase which far exceeds the value of the one point you redeemed.

Convert Chase points to dollars

Use the Chase Points Value Calculator to determine the dollar value of your Ultimate Rewards Points when used for travel, cash back, and more. This will give you an idea of how much your points are worth based on redemption.

Enter any amount of Chase points to calculate the dollar value.
Points
Redemption Average Dollar Value
Point transfers to airline and hotel partners $0 to $0+
Chase Sapphire Reserve: Chase Ultimate Rewards travel $0
Chase Sapphire Preferred: Chase Ultimate Rewards travel $0
Ink Business Preferred: Chase Ultimate Rewards travel $0
Pay Yourself Back $0 - $0
Chase Ultimate Rewards travel with other Chase-branded credit cards $0
Cash back redemptions $0
Using points for gift cards $0
Amazon.com purchases $0

Chase points or cash calculator

Use this calculator to determine if a redemption is worth paying in Chase Ultimate Rewards points over paying in. This calculator can also be used to determine the value of your Chase points after being transferred to Chase's partners.

You'll want to strive for a redemption that gives your Ultimate Rewards points at least a value of 1 cent or more.

Cost of Redemption In Cash
Enter how much the flight or redemption would cost you if you paid cash.
$
Cost of Redemption In Chase Points
Enter how much the flight or redemption would cost you in Ultimate Rewards Points along with any taxes, fees, or additional cash cost you would have to pay.
Chase Points
Points
Taxes/Fees
$
Redemption Value
This is how much your Ultimate Rewards Points are worth based on the values entered above.
- Cents Per Point
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Chase Ultimate Rewards Points are worth between 0.6 and 2.1 cents on average.

Credit cards that earn Ultimate Rewards points

Chase offers a large handful of credit cards that earn Ultimate Rewards points. It's been stated several times already, but the average value you get out of your points will be based on which Chase-branded credit cards you own.

Here's a quick breakdown of average Chase point value by card:

Average Chase Points Value By Card
Chase-branded Card Point Value (in cents)
Chase Sapphire Reserve® 1.5
Chase Sapphire Preferred® Card 1.25
Chase Ink Business Preferred® 1.25
Chase Freedom Unlimited® 1
Chase Freedom Flexâ„  1
Ink Business Cash® Credit Card 1
Ink Business Unlimited® Credit Card 1
Ink Business Premierâ„  1

DON'T FORGET that if you have more than one Ultimate Rewards Point-earning credit card, you can move your points between them. This allows you to easily maximize your rewards when dealing with multiple cards.

This is why it's best to pair the Chase Sapphire Reserve, Chase Sapphire Preferred, or Ink Business Preferred Card with the lower-tier (aka cash back) Chase-branded credit cards that only offer a value of 1 cent per point.

Chase Sapphire Reserve®

Intro bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®.

Rewards rate: Earn 10X points on Chase Dining and both hotel and car rental purchases through Chase Ultimate Rewards, 5X on airfare through Chase Ultimate Rewards, 3X on dining and other travel purchases, and 1X on everything else.

Card highlights: Annual $300 travel credit, Priority Pass Select membership, up to $100 towards a Global Entry or TSA PreCheck application, top-notch travel insurance, and a 50% boost to point value on travel redemptions made through Chase Ultimate Rewards.

Chase Sapphire Reserve points value: 1.5 cents through Chase Ultimate Rewards, 1.25 to 1.5 cents for Pay Yourself Back, and 1 cent for cash back. Points can be transferred to airline and hotel partners for 0.6 to 2.1+ cents per point in value.

Annual fee: $550.

Chase Sapphire Preferred® Card

Intro bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.

Rewards rate: Earn 5X Ultimate Rewards points on travel purchases through Chase Ultimate Rewards, 3X on dining, online grocery purchases, and select streaming services, 2X on other travel purchases, and 1X on everything else.

Card highlights: Annual $50 credit towards hotels booked through Chase Ultimate Rewards portal, 10% bonus points annually based on how much you spent the prior cardmember year and a 25% boost to point value when redeemed for travel through Chase Ultimate Rewards.

Chase Sapphire Preferred points value: 1.25 cents through Chase Ultimate Rewards, 1 to 1.25 cents for Pay Yourself Back, and 1 cent for cash back. Point transfers to airline and hotel partners can offer 0.6 to 2.1+ cents per point in value.

Annual fee: $95.

Chase Ink Business Preferred® Credit Card

Intro bonus: New Cardmember Offer! Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.

Rewards rate: Earn 3X points on up to $150,000 on travel, shipping, internet, cable services, phone services, and advertising purchases each account anniversary year. All other purchases earn 1X.

Card highlights: 25% point value boost towards travel booked through Chase Ultimate Rewards.

Ink Business Preferred points value: 1.25 cents through Chase Ultimate Rewards and using Pay Yourself Back, and 1 cent for cash back. Point transfers to airline and hotel partners can offer 0.6 to 2.1+ cents per point in value.

Annual fee: $95.

Other credit cards that earn Ultimate Rewards points

Points earned with these cards are worth 1 cent each on average, but they can be moved to the Chase cards listed above for higher value (exception being the Ink Premier Card). Most of these cards have no annual fee, so I highly suggest pairing them with Chase's travel cards.

Chase Freedom Unlimited®

Chase Freedom Unlimited®
  • Earns 5% back on travel purchased through Chase Ultimate Rewards, 3% back on drugstore purchases and dining at restaurants, and 1.5% back on all other purchases.
  • Points can be redeemed for cash back, travel, and more at a value of 1 cent per point or be transferred to the Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred for increased value towards travel.
  • No annual fee.

Chase Freedom Flexâ„ 

Chase Freedom Flexâ„ 
  • Earns 5% back on up to $1,500 in combined purchases in bonus categories each quarter you activate, 5% back on travel purchases through Chase Ultimate Rewards, 3% back on drugstore purchases and dining at restaurants, and 1% back on everything else.
  • Points can be redeemed for cash back, travel, and more at a value of 1 cent per point or be transferred to the Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred for increased value towards travel.
  • No annual fee.

Ink Business Cash® Credit Card

  • Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
  • Earns 5% back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, 2% back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, and 1% back on everything else.
  • Points can be redeemed for cash back, travel, and more at a value of 1 cent per point or be transferred to the Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred for increased value towards travel.
  • No annual fee.

Ink Business Unlimited® Credit Card

  • Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
  • Earns an unlimited 1.5% back on all purchases.
  • Points can be redeemed for cash back, travel, and more at a value of 1 cent per point or be transferred to the Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred for increased value towards travel.
  • No annual fee.

Ink Business Premierâ„  Credit Card

  • Earn $1,000 bonus cash back after you spend $10,000 on purchases in your first 3 months from account opening.
  • Earns 2.5% back on every purchase of $5,000 or more and an unlimited 2% back on all other business purchases.
  • Points earned with this card cannot be transferred to other Chase-branded credit cards.
  • $195 annual fee.

FAQ

What is the value of a Chase Ultimate Rewards point?

Chase Ultimate Rewards points are worth 1 to 2 cents per point on average. So 10,000 points can be worth $100 to $200 depending on how you redeem them.

How do I calculate the value of my Chase Ultimate Rewards points?

You can calculate the value of your Ultimate Rewards points by dividing the cost of your redemption by the cost in Ultimate Rewards points. You can use our redemption calculator to do so.

Can I transfer my Chase Ultimate Rewards points to another loyalty program?

Chase Ultimate Rewards points can be transferred to 14 travel partners. The value you get out of transferring points will range from 0.6 to 2.1 cents in value per point on average.

What is the transfer rate for Chase Ultimate Rewards points to partner loyalty programs?

Chase Ultimate Rewards points can be transferred to all partners at a 1:1 ratio. Every 1,000 Ultimate Rewards points you transfer will give you 1,000 miles or points with the Chase's partner programs.

How can I redeem my Chase Ultimate Rewards points?

Chase Ultimate Rewards points can be redeemed for travel, cash back, gift cards, merchandise, and with select retailers.

Can I redeem my Chase Ultimate Rewards points for travel through the Chase Ultimate Rewards portal?

Ultimate Rewards points can be redeemed for flights, hotels, car rentals, and more through Chase Ultimate Rewards. This will give your points 1 to 1.5 cents in value based on which Chase-branded credit card you use.

How can I maximize the value of my Chase Ultimate Rewards points?

Chase Ultimate Rewards points can be maximized by transferring them to airline and hotel partners. There are plenty of sweet spots that can offer as much as 2 cents or more in value per point.

How long do my Chase Ultimate Rewards points remain valid?

Chase Ultimate Rewards points will not expire as long as you have an eligible Chase-branded credit card in good standing.

How much is 1,000 Chase points worth?

1,000 Chase points are worth $10 for cash back and gift cards, but can be worth anywhere from $10 to $20 or more when redeemed for travel.

How much is 5,000 Chase points worth?

5,000 Chase points are worth $50 for cash back and gift cards, but can be worth anywhere from $50 to $100 or more when redeemed for travel.

How much is 6,000 Chase points worth?

6,000 Chase points are worth $60 for cash back and gift cards, but can be worth anywhere from $60 to $120 or more when redeemed for travel.

How much is 10,000 Chase points worth?

10,000 Chase points are worth $100 for cash back and gift cards, but can be worth anywhere from $100 to $200 or more when redeemed for travel.

How much is 20,000 Chase points worth?

20,000 Chase points are worth $200 for cash back and gift cards, but can be worth anywhere from $200 to $400 or more when redeemed for travel.

How much is 30,000 Chase points worth?

30,000 Chase points are worth $300 for cash back and gift cards, but can be worth anywhere from $300 to $600 or more when redeemed for travel.

How much is 50,000 Chase points worth?

50,000 Chase points are worth $500 for cash back and gift cards, but can be worth anywhere from $500 to $1,000 or more when redeemed for travel.

How much is 60,000 Chase points worth?

60,000 Chase points are worth $600 for cash back and gift cards, but can be worth anywhere from $600 to $1,200 or more when redeemed for travel.

How much is 65,000 Chase points worth?

65,000 Chase points are worth $650 for cash back and gift cards, but can be worth anywhere from $650 to $1,300 or more when redeemed for travel.

How much is 75,000 Chase points worth?

75,000 Chase points are worth $750 for cash back and gift cards, but can be worth anywhere from $750 to $1,500 or more when redeemed for travel.

How much is 80,000 Chase points worth?

80,000 Chase points are worth $800 for cash back and gift cards, but can be worth anywhere from $800 to $1,600 or more when redeemed for travel.

How much is 100,000 Chase points worth?

100,000 Chase points are worth $1,000 for cash back and gift cards, but can be worth anywhere from $1,000 to $2,000 or more when redeemed for travel.

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