Ultimate Rewards Points: Quick Overview
Earning Chase Points: To earn Ultimate Rewards points, you'll need to have an eligible Chase credit card. For every dollar you spend using these cards, you'll earn at least one Ultimate Rewards point. Some cards even offer bonus multipliers on specific categories, allowing you to earn points even faster.
Redeeming Chase Points: Ultimate Rewards points can be redeemed for travel, gift cards, cash back, merchandise, and more. Points can also be transferred to Chase's airline and hotel partners.
Chase Points Value: Ultimate Rewards points are worth 1 to 1.5 cents in value per point on average. This means 10,000 points are worth anywhere from $100 to $150 depending on which credit cards you have. You can obtain higher value transferring points to partners.
Chase Transfer Partners: Ultimate Rewards points can be transferred to 14 partners. This includes JetBlue Airways, United Airlines, Southwest Airlines, and Hyatt Hotels.
Best Chase Ultimate Rewards credit cards
- Chase Sapphire Preferred® Card: Best flexible travel rewards card.
- Chase Sapphire Reserve®: Best for high value and lounge access.
- Chase Freedom Unlimited®: Best for flat-rate and bonus cash back.
- Ink Business Preferred® Credit Card: Best flexible business travel rewards card.
- Ink Business Cash® Credit Card: Best for office supply purchases.
Use our Chase points calculator to determine how many points you can earn based on the monthly or yearly spending amounts you enter.
Learn More: Best Chase Credit Cards + Rewards Calculator
How much are Ultimate Rewards points worth?
If you're looking to redeem your Chase points, you'll be happy to know that they have a fixed value of 1 cent per point when redeemed for cash back. This means that 10,000 points are worth at least $100 in cash value no matter what.
For travel, if you have the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, you will be able to redeem Ultimate Rewards points towards travel booked through Chase Ultimate Rewards at a value of 1.25 to 1.5 cents per point. This means 10,000 points would be worth $125 to $150 in travel value which is significantly more than redeeming them for cash back.
These three specific credit cards also allows you to transfer points to Chase's airline and hotel partners. This can give your points as much as 2 cents in value (or more), but it all depends on how you use the points after you've transferred them to partners.
Ultimate Rewards points can also be redeemed towards eligible purchases made to select Chase credit cards using Pay Yourself Back. This will give your points anywhere from 1 to 1.5 cents in value.
Lastly, Ultimate Rewards points can be used for gift cards, merchandise, and at checkout with select retailers. These redemptions will give your points 1 cent and less in value.
| Redemption Option | Average Value (in cents) |
|---|---|
| Point transfers to airline and hotel partners | 0.6 - 2.1 |
| 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 |
Learn More: Chase Points Value Calculator
How to redeem Ultimate Rewards points
Ultimate Rewards points can be redeemed for travel, gift cards, cash back, statement credits, and at checkout with Amazon. They can also be transferred to 14 travel partners.
Point transfers to partners
Ultimate Rewards points can be transferred to frequent flyer and hotel rewards programs. This is the best use of points as you'll be able to get as much as 2 cents in value per point.
Here's the complete list of Chase transfer partners:
Ultimate Rewards points can only be transferred to partners using the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card. Points earned with other Chase Rewards credit cards cannot be transferred directly to partners, but you can transfer those points to any of the three eligible credit cards mentioned above.
For example, if you're earning 5X points on quarterly rotating categories using the Chase Freedom Flex℠, you will not be able to transfer those points directly to Chase's travel partners using that card alone. But if you have the Chase Sapphire Preferred Card as well, you will be able to transfer the points earned with your Chase Freedom Flex to the Chase Sapphire Preferred. From there, you'll then be able to transfer those points from the Chase Sapphire Preferred to Chase's travel partners.
Learn More: Chase Transfer Partners & Point Conversion Calculator
Booking travel through Chase Ultimate Rewards
Flights, hotels, car rentals, and more can be booked through the Chase Ultimate Rewards travel portal. This will give your points between 1 and 1.5 cents in value depending on which credit cards you redeem your points through.
- Chase Sapphire Reserve: 1.5 cents in value. 10,000 points = $150 in travel value.
- Chase Sapphire Preferred Card: 1.25 cents in value. 10,000 points = $125 in travel value.
- Ink Business Preferred: 1.25 cents in value. 10,000 points = $125 in travel value.
- All other Chase-branded cards: 1 cent in value. 10,000 points = $100 in travel value.
Again, keep in mind that you can move points between cards. Don't redeem points using Chase credit cards that offer lower value if you can transfer them to another card and redeem them for higher value.
Pay Yourself Back
Pay Yourself Back allows you to use your Ultimate Rewards points towards certain purchases made with your card. This includes things like gas station, grocery, internet, cable, and phone service purchases as well as donations to charities.
Outside of charity donations, you're looking at 1 to 1.25 cents in value which isn't the best, but it can be solid option if you're want to knock eligible purchases off your card.
Cash back
Ultimate Rewards points can be redeemed for cash back at a value of 1 cent per point no matter which Chase credit cards you have. This is the base value for Ultimate Rewards points and I recommend going no lower than this in value.
Amazon Shop with Points
Ultimate Rewards points can be redeemed at checkout on amazon.com. This will give your points a value of 0.8 cents each meaning that 10,000 points would be equal to $80 in Amazon value.
Occasionally, there are promotions in which you will receive cash off or a certain percentage discount on your amazon.com purchases if you apply Ultimate Rewards points. This is the only time I recommend using points at checkout.
If there's no promo going on, you'll be better off redeeming your points for cash back at a value of 1 cent each.
Credit cards that earn Ultimate Rewards points
Chase offers a large handful of credit cards that earn Ultimate Rewards points. The max value you get out of your points heavily depends on which credit cards you own.
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 when booking travel through Chase Ultimate Rewards, but can be worth significantly more when transferred to Chase's travel partners. This is the best well-rounded Ultimate Rewards credit card.
Annual fee: $95.
Learn more about the Chase Sapphire Preferred
Calculate Chase Sapphire Preferred Points & Card Value
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 when redeemed towards travel booked through Chase Ultimate Rewards, but can be worth even higher when transferring to Chase's travel partners. Easily offers the most value if you're looking to maximize your rewards.
Annual fee: $550.
Learn More about the Chase Sapphire Reserve
Calculate Chase Sapphire Reserve Points & Card Value
Chase Ink Business Preferred® Credit Card
Intro bonus: Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®.
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 when redeemed towards travel booked through Chase Ultimate Rewards, but can be worth more when transferred to Chase's travel partners. This is one of the best business credit cards in terms of travel rewards and overall value.
Annual fee: $95.
Learn more about the Ink Business Preferred Card
Calculate Ink Business Preferred Points & Card Value
Points earned with these cards are worth 1 cent each on average when redeemed towards travel, cash back, and select other redemptions.
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 or be transferred to the Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred for increased value towards travel.
- No annual fee.
Chase Freedom Flex℠
- 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 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 $750 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 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 $750 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 or be transferred to the Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred for increased value towards travel.
- No annual fee.
Ink Business Premier℠ 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.
Chase points calculator
Use the Chase points calculator to determine how many Ultimate Rewards points you can earn with Chase credit cards based on the monthly or yearly spending amounts you enter.
Find out which credit cards will offer you the most value based on the spend amounts you entered
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Results
These estimates are to help guide you towards making the best decision when it comes to picking up a rewards credit card. They should be used for illustrative purposes only.
You can click on the estimated earnings to see the calculations or click on the card to learn more and apply for the card through our partners.
Do note that all spend amounts entered into the tool above will carry over to every credit card rewards calculator on the site, so there's no need to re-enter spend if you choose to dive deeper into calculating rewards for credit cards on the site.
Maximize your rewards
Looking for the best travel credit cards? Check out a few of our top picks below and use our calculators to find out how much you can earn!
- Best for flexible travel rewards: Chase Sapphire Preferred Card.
- Best for unlimited miles on purchases: Capital One Venture X Rewards Credit Card.
- Best travel card for foodies: American Express® Gold Card.
- Best for luxury travel: The Platinum Card® from American Express.
- Best for rewards on travel and everyday spending: Citi Premier® Card.
- Best for small business travel: Capital One Spark Miles for Business.
Our Credit Card Rewards calculator can help you find the perfect card and offers based on your monthly and yearly spending habits. Simply enter your spend amounts into our tool and let us do the work for you!
