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Our pick for Chase Ultimate Rewards: Chase Sapphire Preferred® Card
60,000-point
Signup bonus after spending $4,000 in first 3 months
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But the real secret sauce to the program is the ability to transfer points to partner airlines and hotels at a 1:1 ratio. Here’s what you need to know to start make the most of this program.
| Points are worth | Based on our valuation, Chase Ultimate Rewards points are worth between 1 and 1.5 cents apiece |
| Chase points transfer partners |
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| Earn Chase Ultimate Reward points |
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| Redeem Chase Ultimate Reward points |
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The Chase Ultimate Rewards program gained its fame thanks to four primary features:
There’s no way around it — you need an eligible Chase credit card to earn Ultimate Rewards points. The following cards all earn points, even though some of them are marketed as cashback cards. Once you have enough points, redeem them through the portal or transfer points to specified travel partners.
Chase Freedom Unlimited®
Chase Freedom Flex℠
Chase Sapphire Preferred® Card
Chase Sapphire Reserve®
If you want a no-annual-fee card that pays attractive cash back, Chase is an excellent option.
★★★★★
| Annual Fee | $0 |
|---|---|
| Purchase APR | 0% intro for the first 15 months (then 14.99% to 23.74% variable) |
| Balance transfer APR | 14.99% to 23.74% variable |
| Welcome offer | $200 after spending $500 in the first 3 months |
| Rewards | 5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases |
★★★★★
| Annual Fee | $0 |
|---|---|
| Purchase APR | 0% intro for the first 15 months (then 14.99% to 23.74% variable) |
| Balance transfer APR | 14.99% to 23.74% variable |
| Welcome offer | $200 after spending $500 in the first 3 months |
| Rewards | 5% back in rotating categories up to $1,500 combined each activated quarter (then 1%), 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases |
Chase offers two of the best in-house travel cards on the market. One is a mid-tier pick, and the other is a premium option.
★★★★★
| Annual fee | $95 |
|---|---|
| Purchase APR | 15.99% to 22.99% variable |
| Foreign transaction fee | None |
| Welcome offer | 60,000 points after spending $4,000 in the first 3 months, a value of up to $750 through Chase Ultimate Rewards. Plus up to $50 statement credit towards groceries. |
| Rewards | 5x points on Lyft, 2x points on up to $1,000 on groceries until April 30, 2021, 2x points on travel and dining and 1x points on all other purchases |
★★★★★
| Annual fee | $550 |
|---|---|
| Purchase APR | 16.99% to 23.99% variable |
| Foreign transaction fee | None |
| Welcome offer | 50,000 points after spending $4,000 in the first 3 months |
| Rewards | 10x points on Lyft rides, 3x points on dining and travel after earning your $300 travel credit and 1x points on all other purchases |
Chase also offers three of its own small-business cards that offer great rewards for low annual fees.
★★★★★
| Annual Fee | $95 |
|---|---|
| Purchase APR | 15.99% to 20.99% variable |
| Balance transfer APR | 15.99% to 20.99% variable |
| Welcome offer | 100,000 points after spending $15,000 in the first 3 months |
| Rewards | 3x points on the first $150,000 on travel and select business categories annually, then 1x after and on all other purchases |
★★★★★
| Annual Fee | $0 |
|---|---|
| Purchase APR | 0% intro for the first 12 months (then 13.24% to 19.24% variable) |
| Balance transfer APR | 13.24% to 19.24% variable |
| Welcome offer | $750 back after spending $7,500 in the first 3 months |
| Rewards | 1.5% cash back on all purchases |
★★★★★
| Annual Fee | $0 |
|---|---|
| Purchase APR | 0% intro for the first 12 months (then 13.24% to 19.24% variable) |
| Balance transfer APR | 13.24% to 19.24% variable |
| Welcome offer | $750 cash back after spending $7,500 in the first 3 months |
| Rewards | 5% at office supply stores, on Internet, cable and phone up to $25,000 combined annually (then 1%), 2% on gas and dining up to $25,000 combined annually then 1% after that and on all other purchases |
Chase credit card points are generally worth 1 cent per point.
Three cards give you the ability to get 25% to 50% more value if you redeem points for travel through Chase Ultimate Rewards. These are the Chase Sapphire Preferred® Card, Chase Sapphire Reserve® and Chase Ink Business Preferred® Credit Card.
The above cards also let you transfer points to Chase’s travel partners.
With one Chase credit card, you enter the game. With three Chase credit cards, you win the game. That’s because each card in the program can help you maximize the value you can get out of the program.
Here’s how:
Let’s say you have the Chase Freedom Unlimited®. It doesn’t grant access to point transfers but it does earn a flat 1.5x points (or 1.5% cash back) base rewards rate. Other cards earn more points on specific categories, but only 1x points on all other purchases.
Now, let’s say you open a Chase Sapphire Preferred® Card. You can move your Chase Freedom Unlimited® points to this card and redeem points for travel through Chase Ultimate Rewards with a 25% higher value. Alternatively, you can transfer points to travel partners at a 1:1 ratio.
By pairing the right cards together, you can create a harmonious mix of earnings and maximize your reward values.
| Pair one or more of these cards… | With one of these cards… |
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Getting two cards with similar benefits or rewards doesn’t make much sense since you can only use one card on a purchase at time for reward purposes. Before you decide to apply for a card, consider the following:
Let’s say you have the Chase Sapphire Preferred® Card. It doesn’t have a higher rewards rate on travel and dining than the Freedom cards, but it has no foreign transaction fees and it lets you redeem points for travel purchases at the Chase Ultimate Rewards portal with a 25% higher points value. You can use the Chase Freedom Unlimited® where it earns more points and then transfer your points to the Chase Sapphire Preferred® Card for a better redemption value. This way, you can always make sure you’re earning solid rewards no matter what you spend on.
You can go further by adding a card like the Chase Freedom Flex℠ credit card into the mix. When the bonus categories roll around, you can use the card to earn excellent points. Otherwise, you can use your Chase Freedom Unlimited® and Chase Sapphire Preferred® Card for other purchases.
Coincidentally, these three cards form what’s known as the Chase trifecta, as they provide an optimal combination of rewards. You can replace the Chase Sapphire Preferred® Card with the Chase Sapphire Reserve® if you want premium travel options.
While earning Chase credit card points is relatively straightforward, having an earning strategy can help you build points even faster. Here are the primary earning strategies you’ll want to employ with your new cards.
Once you grow your collection of rewards, check out which Chase Ultimate Rewards redemption options offer the best value for your points.
Chase has 12 travel transfer partners to choose from — nine airlines and three hotel brands. Read more about how to transfer Chase points to travel partners.
You can transfer points to each program at a 1:1 ratio. That means if you transfer 1,000 points, you’ll receive 1,000 miles or points in the loyalty program of your choice.
It can be enticing to transfer your points over to a Chase travel partner given the potential value increase. However, this may not always be worth it. Here’s why:
Suppose you want to redeem your points for hotel stays via the Chase Ultimate Rewards portal. Depending on which Sapphire Card you use, the value of points those points is going to be 1.25 or 1.5 for the Sapphire Preferred and Reserve respectively. If you transfer your points to partner hotels in 1:1 ratio, your points will be worth:
At first glance, transferring 10,000 points will lower your redemption value from $120 on the Ultimate Rewards portal to $60 on the IHG rewards program. However, in some cases, you may get a value higher than 1.2 cents per point on select hotels and select room types.
The key here is research. Before transferring your Chase credit card points blindly, check out the hotel where you want to stay or the airline you consider flying and divide the dollar amount with the points required to redeem to find out the points value. For example, $150/14,000 points = 0.010 or 1 cent per point. The larger the number you get, the higher the points value.
The number of options available to manage your account might seem overwhelming at first. Here’s how to get to some of the more important features of your Ultimate Rewards account.
You can find most earning and redeeming options for your Chase account on the navigation bar. You’ll find this horizontal bar across the top of the Chase Ultimate Rewards homepage.
You can also access a vertical version of this navigation bar at any time by clicking the three horizontal lines in the upper-left corner of the webpage.
If you ever forget that quarter’s bonus categories, this section features a quick reminder along with how much you’ve spent up to the limit for that quarter.
Clicking the Earn bonus points icon takes you to the Chase shopping portal. Earning bonus points on shopping through the portal can help maximize your earnings.
The Combine points section of the Ultimate Rewards site is where you’ll go to move points from one card to another. Do this often to make the most of the Chase Ultimate Rewards program.
Clicking Travel takes you to Chase’s travel portal. This is how you’ll book flights and hotel stays — at increased value if you’re an eligible cardholder.
This page allows you to view the points you’ve earned in the calendar year based on how you earned those awards. This is a great feature for identifying additional rewards opportunities and understanding where most of your points are coming from.
Not many credit card rewards programs offer the sheer versatility of Chase Ultimate Rewards. Choose your favorite Chase card to start earning points and pair that up with one of Chase’s transfer cards to equip yourself with everything you need to get the most value out of this program.
If you’re already a Chase Ultimate Rewards member or want to know what other reward programs are out there, compare reward credit cards to find a rewards program that stands out to you.
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