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Stephen is an established voice in the credit card space, with over 70 to his name. His work has been in publications like The Washington Post, and his Au Points and Awards Consulting Services is used...
A long-time points and miles student, Jessica is the former Personal Finance Managing Editor at U.S. News and World Report and is passionate about helping consumers fund their travels for as little ca...
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If you’re looking to level up your credit card rewards game, you may have come across Chase Ultimate Rewards.
Using this rewards currency is one of the absolute best ways to get as much bang for your buck through your normal credit card spending as possible.
And with a wide array of ways to use your Ultimate Rewards points, the question is: how much are Chase Ultimate Rewards points worth?
In this guide, we’ll show you how much they’re worth, exactly, as well as answer some of your most burning questions about Chase Ultimate Rewards.
Let’s get right into it!
32 FAQs About Chase Ultimate Rewards Points
Image Credit: Upgraded Points
1. What Is Chase Ultimate Rewards?
Chase Ultimate Rewards is the proprietary rewards currency that Chase offers on some credit cards.
Ink Business Plus® Credit Card (no longer open to new applicants)
There are also a handful of other credit cards that earn Chase Ultimate Rewards points but require one of the credit cards listed above to unlock the full list of redemption options:
The points you earn on these credit cards are known as Ultimate Rewards points.
2. Is Chase Ultimate Rewards Worth It?
In our minds, Chase Ultimate Rewards is completely worth it.
Because of its unique partnerships with loyalty programs, including United MileagePlus and World of Hyatt, as well as the flexibility of the points to be used for other travel expenses or cash-back, we think Ultimate Rewards is worth it.
Plus, those credit cards above allow you to earn a ton of Ultimate Rewards points quickly, up to 10x points per dollar spent!
You can get rewarded in common categories like dining, travel, online grocery purchases, streaming, and so much more.
So yes, Chase Ultimate Rewards is worth it.
3. How Do I Access My Chase Ultimate Rewards?
You can access your Chase Ultimate Rewards in 3 ways:
If you’re on the website or mobile app, log in to your Chase account and select your credit card. Then, you’ll find an area that displays your Ultimate Rewards points balance, along with a button that says Redeem. Click Redeem.
You’ll be redirected to the Ultimate Rewards dashboard. From there, you can browse and access your Chase Ultimate Rewards points.
4. How Much Are Chase Sapphire Reserve Points Worth?
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The Chase Sapphire Reserve card earns Chase Ultimate Rewards points. It’s most famous for offering a 50% redemption bonus on travel booked through the Chase Ultimate Rewards travel portal which makes your points worth a fixed 1.5 cents each. Pay Yourself Back gives a value of 1.25 to 1.5 cents per point.
However, you can transfer your points to Chase transfer partners at a 1:1 ratio to book luxury business and first class flights, as well as high-end hotel stays. That way, you can get anywhere from 1.6 to more than 5 cents per point of value from your Chase Sapphire Reserve card’s points.
However, because the value of your points is dependent on how exactly you use your points, we’ve assigned a value of 2 cents per point to the Chase Sapphire Reserve card’s points.
5. How Much Are Chase Sapphire Preferred Card Points Worth?
The Chase Sapphire Preferred card also earns Chase Ultimate Rewards points. In fact, if you have both the Chase Sapphire Preferred card and Chase Sapphire Reserve card, you can combine your points!
With the Chase Sapphire Preferred card, there’s a slightly lower 25% redemption bonus on travel booked through Chase Ultimate Rewards , giving you a value of 1.25 cents per point. Pay Yourself Back gives a value of 1 to 1.25 cents per point.
Just like the Chase Sapphire Reserve card, though, the Chase Sapphire Preferred card’s points can be transferred to travel partners for even better value at a 1:1 ratio.
This way, the points from the Chase Sapphire Reserve card could be worth the same as the Chase Sapphire Preferred card. With the right partners, you can get much more than 1.5 cents per point, perhaps closer to 1.6 to 5 cents per point!
We peg the Chase Sapphire Preferred card’s points at around 2 cents each even though the value can swing wildly.
6. How Much Are Chase Freedom Card Points Worth?
The points on the Chase Freedom card, Freedom Flex card, and Freedom Unlimited card are all Ultimate Rewards points. However, there’s a bit of a twist.
If you only have these cards, you can only use your points for cash-back, since these are cash-back credit cards. So those points are worth a simple 1 cent per point.
But if you have a card like the Chase Sapphire Preferred card along with the Freedom Unlimited card, for example, then you can move your points from the Freedom Unlimited card to the Chase Sapphire Preferred card to get much better value.
7. How Much Are Chase Freedom Unlimited Card Points Worth?
The Freedom Unlimited card’s points are worth 1 cent each.
But if you are clever and also have a Chase Sapphire Reserve card or Ink Business Preferred card, you can convert your Freedom Unlimited card rewards to the true Ultimate Rewards points and get much better value.
For example, if your Freedom Unlimited card has 20,000 points, it would be worth $200 if you didn’t have any other Chase credit card.
But if you also had the Ink Business Preferred card, you can move those 20,000 points from your Freedom Unlimited card to the Ink Business Preferred card, which can then be transferred to hotels and airlines for fantastic value.
To illustrate our point, if you then transfer those 20,000 Ultimate Rewards points to World of Hyatt, you may be able to book a $500 hotel stay for just 20,000 points, which would make your points worth 2.5 cents each.
8. How Much Are Chase Ink Points Worth?
When you have the Ink Business Preferred card, your Chase Ultimate Rewards points can be worth up to 5 cents per point when used well.
But if you only have the Ink Business Cash card or Ink Business Unlimited card, your rewards are just worth a flat value of 1 cent per point.
The points you accumulate on all of the Ink cards are still Ultimate Rewards points, which means you can access some fantastic value if you combine and redeem your points strategically.
The Ink Business Preferred card is similar to the Chase Sapphire Preferred card in that you can get a 25% redemption bonus on travel booked through the Chase Ultimate Rewards travel portal and for select categories in Pay Yourself Back.
Also, the Ink Business Preferred card’s Ultimate Rewards points can be transferred to travel partners for enhanced value between 1.6 to 5 cents or more per point!
And even though the value of your points can fluctuate significantly, we peg them around 2 cents each.
9. How Much Are 1,000 Chase Points Worth?
Based on our valuation of Chase points at around 2 cents each, 1,000 Chase points would be worth around $20.
Unfortunately, 1,000 Chase points can’t be used for much besides cash-back, statement credits, or Pay Yourself Back.
All of these redemptions will lead to a lower redemption value of 1 to 1.5 cents per point. That would translate to a value of $10 to $15 for 1,000 Chase points.
10. How Much Are 5,000 Chase Points Worth?
We value Chase Ultimate Rewards points at 2 cents apiece, which means 5,000 points are worth $100.
It’s still not easy to use 5,000 Chase points for anything besides cash-back, Pay Yourself Back, or gift cards.
All of these will lead to a redemption value of 1 to 1.5 cents each, which translates to a return on spending of $50 to $75.
You might be able to use 5,000 Chase points for a super-cheap flight through the Chase travel portal on an airline like Spirit or Frontier, which can give you up to $75 of redemption value if you have the Chase Sapphire Reserve card.
11. How Much Are 10,000 Chase Points Worth?
An amount of 10,000 Chase points is worth around $200 by our valuation. Of course, valuations aren’t exact since the value you get is totally contingent on how you use your points.
For example, if you transfer 10,000 Chase points to World of Hyatt, you could potentially book a hotel room costing $250, which would get you a value of 2.5 cents per point.
On the other hand, if you use 10,000 Chase points from your Chase Sapphire Reserve card to book a $150 flight on the Chase travel portal, you’ll get a value of 1.5 cents per point.
12. How Much Are 20,000 Chase Points Worth?
With 20,000 Chase points, you have rewards worth around $400, according to our valuation of 2 cents each.
If you have 20,000 Chase points, that could be enough for 2 nights at a hotel like the Hyatt Regency Danang Resort and Spa in Vietnam, which can easily be worth $500. That would give you a value of 2.5 cents per point.
Alternatively, if you use 20,000 Chase points for a domestic flight through the Chase travel portal, you will get up to 1.5 cents per point of value.
13. How Much Are 50,000 Chase Points Worth?
According to our valuation of 2 cents each, 50,000 Chase points are worth around $1,000.
You could use 50,000 Chase points for a one-way business class flight on ANA to Japan, which often retails for $4,000 or more!
On the flip side, if you use 50,000 Chase points on flights booked through the Chase travel portal, you’ll only get a maximum value of $750 with the Chase Sapphire Reserve card.
14. How Much Are 60,000 Chase Points Worth?
You can get a $1,200 value out of 60,000 Chase points, according to our valuation of 2 cents each.
But the truth is you can use 60,000 Chase points for a one-way ANA first class flight from the U.S., including the East Coast. And if you look up the flight prices, we’re talking about a value of up to $15,000!
Otherwise, flights booked through the Chase travel portal will get you a value of up to $900, assuming you can get a fixed value of 1.5 cents per point through the Chase Sapphire Reserve card’s 50% redemption bonus.
15. How Much Are 80,000 Chase Points Worth?
Using 80,000 Chase points is worth $1,600, according to our valuation of 2 cents each.
Your 80,000 Chase points could also be worth a business class flight to Africa or the Middle East, which often sell for $10,000 or more.
If you use your points for flights through the Chase travel portal, 80,000 points will be worth between $800 to $1,200.
16. How Much Are 100,000 Chase Points Worth?
A collection of 100,000 Chase points is worth $2,000, according to our valuation of 2 cents each.
With 100,000 Chase points, you could have enough for a round-trip business class flight to Japan or Europe, which is a tremendous value. This could have a cash equivalent anywhere from $7,000 to $14,000.
Redeeming those 100,000 Chase points through the travel portal will get you a value of $1,000 to $1,500, depending on which card you have.
17. How Many Chase Points Is $1,000?
If you use your Chase points for travel through the Chase Ultimate Rewards travel portal, you’ll need to redeem anywhere from 66,667 to 100,000 Chase points to get $1,000.
And if you decide to transfer your Chase points to book a luxury hotel stay at Hyatt, you’ll probably redeem around 30,000 to 50,000 Chase points for $1,000 of value.
If you decide to transfer your Chase points to airlines, you could get $1,000 of value through domestic flights with around 50,000 to 70,000 Chase points.
Lastly, if you transfer your Chase points to airline partners and book luxury business or first class flights, you can redeem around 60,000 Chase points to get $3,000 of value, which would translate to using only 20,000 Chase points to get $1,000.
18. What Can You Redeem With Chase Ultimate Rewards?
Chase Ultimate Rewards are some of the most flexible points out there. Here are the ways you can redeem Chase Ultimate Rewards points (ranked from highest to lowest value):
Just remember that you’ll need to have the Chase Sapphire Reserve card, Chase Sapphire Preferred card, Ink Business Preferred card, or Ink Business Plus card (no longer open to new applicants) to have the ability to transfer your points to airlines or hotels.
20. How Much Are Chase Points Worth in Cash?
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Chase points are worth 1 cent per point when redeemed for cash-back or statement credits, regardless of which credit card you have.
So that means you’ll need to redeem 100 points to get a dollar in cash-back.
21. How Much Are Chase Points Worth for Travel?
If you have the Chase Sapphire Reserve card, you can get 1.5 cents per point for travel booked through the Chase Ultimate Rewards travel portal.
If you have the Chase Sapphire Preferred card or Ink Business Preferred card, you’ll get 1.25 cents per point for Chase travel portal bookings.
If you have any other Chase card like the Freedom Unlimited card or the Ink Business Cash card, you’ll get a flat 1 cent per point for travel.
That means you’ll need to redeem 67 to 100 Chase points to get a dollar on travel.
22. How Much Are Chase Points Worth on Amazon?
Chase points are worth 0.8 cents per point when redeemed on Amazon, regardless of which credit card you have.
That means you’ll need to redeem 125 Chase points to get a dollar on Amazon.
23. How Much Are Chase Points Worth for Gift Cards?
Chase points are worth around 1 to 1.2 cents per point when redeemed for gift cards, regardless of which credit card you have.
Sometimes, Chase will offer sales for select merchants to get 10% to 15% off on certain gift cards.
This means you’ll need to redeem 83 to 100 Chase points to get a dollar in gift cards.
24. How Much Are Chase Points Worth on United?
Chase Ultimate Rewards points transfer to United at a 1:1 ratio, assuming you have the Chase Sapphire Reserve card, Chase Sapphire Preferred card, Ink Business Preferred card, or Ink Business Plus card (no longer open to new applicants).
And if you transfer to United, your points could be worth anywhere from 1 cent to 10 cents each. This huge spectrum is dependent on how you use your United miles.
If you use your United miles for short-haul flights in economy, you won’t get as good of a value as you would if you used your United miles for long-haul flights in first class.
That means you’ll need to redeem anywhere from 10 to 100 Chase points to get a dollar on United.
25. How Much Are Chase Points Worth on Southwest?
Chase Ultimate Rewards also transfers at a 1:1 ratio to Southwest, just like United (though you’ll need to have an eligible card to make those transfers happen).
In general, Southwest points are worth 1.3 to 1.5 cents per point, thanks to its fixed value system.
So you’ll probably need to use 67 to 77 Chase points to get a dollar on Southwest.
26. How Much Are Chase Points Worth on Pay Yourself Back?
Pay Yourself Back can give you a redemption value of 1 to 1.5 cents per point. So to get a dollar from Pay Yourself Back, you may need to redeem 67 to 100 Chase points.
For example, with the Chase Sapphire Reserve card, you can get 1.25 to 1.5 cents per point through Pay Yourself Back on select rotating categories.
With the Chase Sapphire Preferred card and Ink Business Preferred card, you’ll get 1 to 1.25 cents per point through Pay Yourself Back on rotating categories.
Lastly, with the Ink Business Cash or Ink Business Unlimited card, you’ll get 1.1 cents per point through Pay Yourself Back on select business categories.
27. How Much Are Chase Points Worth When You Transfer to Partners?
Chase points are generally worth the most when you transfer to partners. For example, if you transfer 25,000 Chase points to book a night at the Grand Hyatt Kauai, you could easily get $1,000 worth of redemption value, which is 4 cents per point.
Also, if you transfer 70,000 Chase points to book Qatar Airways Qsuites, you could easily get $6,000 worth of value, which is 8.6 cents per point.
If you transfer 60,000 Chase points to book United Polaris class, you could get around $4,000 of value, which is 6.7 cents per point of value.
However, you’re generally doing well if you can transfer your Chase points to partners and get a value of 2 cents per point.
28. Do Chase Points Expire?
As long as your Chase credit card is open and in good standing, your points do not expire.
After you close your card, you’ll have 30 days to redeem all of your points before they are forfeited.
If you’re planning on closing a Chase card but still have other Chase cards open, you can transfer your points to your other eligible Chase cards before closing your card without losing any points.
For example, if you have the Chase Sapphire Preferred card and the Ink Business Cash card but want to close the Ink Business Cash card, just move your points to the Chase Sapphire Preferred card before closing the Ink Business Cash card to avoid forfeiting your points.
29. What Is the Best Way To Redeem Chase Points?
The best way to redeem Chase points is to transfer them to travel partners. Here are some of our favorites:
We think that Amex Membership Rewards points (2.2 cents per point) are slightly more valuable than Chase points (2.0 cents per point).
But the complete picture is a bit more complicated. Chase enjoys the most important hotel transfer partnership with World of Hyatt, which makes it much easier to get outsized value on points for hotel stays.
Nonetheless, we like the idea of having both types of points.
31. Are Chase Points or Capital One Miles Better?
Chase points are slightly more valuable (2.0 cents per point) than Capital One miles (1.8 cents per point).
And although the 2 programs share a lot of the same transfer partners like Air Canada Aeroplan and Air France-KLM Flying Blue, Chase edges out over Capital One slightly because of its partnership with World of Hyatt and United MileagePlus.
However, Capital One offers some exceptional value on vacation rental bookings through Wyndham Rewards. Unfortunately, though, Capital One doesn’t have a partnership with a U.S. airline, making it much more difficult to get great value on domestic flights.
32. Are Chase Points or Citi Points Better?
Chase points are significantly more valuable (2.0 cents per point) than Citi ThankYou Points (1.6 cents per point).
Citi isn’t lacking in the hotel department, thanks to a 1:2 transfer partnership with Choice Privileges (which can then be used to book stays at select Preferred Hotels around the world).
It’s just that Chase’s partnership with World of Hyatt consistently leads to higher redemption value.
Citi ThankYou Rewards also shares a good number of transfer partners, including Emirates Skywards and Air France-KLM Flying Blue. However, Chase also offers partnerships with Air Canada Aeroplan and United MileagePlus, making it a significantly stronger currency.
Final Thoughts
Overall, Chase Ultimate Rewards points are 100% worth it. The list of credit cards you can use to earn Chase Ultimate Rewards points has plenty of variety, and each card has its own specific use case.
For example, the Chase Sapphire Reserve card is best for travel, the Chase Sapphire Preferred card is best for dining, and the Ink Business Preferred card is best for advertising. These cards enable you to earn up to 10x points on certain purchases!
But what we really love about Chase is that its online website and mobile app make it easy to manage your credit cards and points.
We value Chase points at 2 cents each, but it’s possible to get worse or better value, depending on what you use your points for.
And even though we value them slightly less than Amex points, Chase points are still better than Capital One miles and Citi ThankYou Points.
The information regarding the Chase Sapphire® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Ink Business Plus® Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Chase Freedom Flex℠ was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Chase Freedom Unlimited® was independently collected by Upgraded Points and not provided nor reviewed by the issuer. The information regarding the Chase Freedom® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
Featured Image Credit: AntonioDiaz via Adobe Stock
Stephen is an established voice in the credit card space, with over 70 to his name. His work has been in publications like The Washington Post, and his Au Points and Awards Consulting Services is used by hundreds of clients.
Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.
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