Published in: Credit Cards | Jan. 14, 2019
By: Lyle Daly
You're never lacking for options when you have Chase Ultimate Rewards® points. The program gives you several different ways to redeem your points, and you can do it all online.
If it's your first time dipping into your balance, it helps to know exactly how to redeem points on your Chase card and which redemptions offer the most bang for your buck -- or in this case, for your points.
1. Go to your Chase Ultimate Rewards® account.
The quickest option is logging in through the Chase Ultimate Rewards® site, but you can also access the program through a link in your Chase credit card account.
If you have multiple Chase credit cards in the Ultimate Rewards® program, then you'll need to select one right after you log in. You'll be redeeming points from the card you select, although you can also move all your points onto one of your cards through the "Combine Points" option on the Ultimate Rewards® home screen.
2. Choose your desired redemption option from the menu.
Chase offers the following redemptions for Ultimate Rewards® points:
|Redemption method||Value per point|
|Gift cards||$0.01 to $0.011|
|Transfer to travel partners||Under $0.01 to over $0.03 (varies based on your award booking)|
|Travel||$0.0125 to $0.015|
Source: Chase and writer's own estimate for the value of transferring points to travel partners
3. Proceed through the redemption process.
The remainder of your redemption will depend on the option you chose. Here's how each redemption works, starting with the highest value options:
Value -- Varies substantially from under $0.01 per point to over $0.03 per point
Process -- Select a travel partner, enter the amount of points you wish to send and your account information in that partner's loyalty program, and confirm the transfer.
Is it worth your points? -- Yes, because if you choose wisely with your award booking, you can get more value through this type of redemption than any other.
Process -- Search for travel through the Ultimate Rewards® travel portal, which is powered by Expedia. Once you find what you want, you can select and book it.
Is it worth your points? -- Yes. These fixed-rate travel bookings provide a solid value on any travel purchase, especially if you're a Chase Sapphire Reserve® cardholder.
Value -- $0.01 to $0.011 per point
Process -- Choose the gift card you want and select an amount. Add it to your cart and proceed through the checkout process.
Is it worth your points? -- Even when merchants are running deals that get you $0.011 per point, the two travel options below will get you more back.
Value -- $0.01 per point
Process -- Enter the amount of cash back you want and select either a statement credit or a deposit to a bank account.
Is it worth your points? -- Only if you really need the cash. Although this is a good cash-back rate for a travel rewards card, you could get more value through either of the travel redemption options. If you want cash back, you'd be better off applying for one of the best cash-back cards.
Value -- $0.01 per point
Process -- Click "Learn More" under the experience you want, make any necessary selections for that specific experience, and click "Purchase."
Is it worth your points? -- Again, the value makes this a subpar redemption option unless it's an experience you can't miss.
Value -- $0.008 per point
Process -- Sign in to Amazon and link your Chase card to your account. After that, you can pay with points during checkout.
Is it worth your points? -- No. The low value makes this a poor way to use your points.
All the redemption options for Ultimate Rewards® points can seem overwhelming at first glance. It gets much simpler when you consider that these are travel rewards points, so the two options to focus on are the travel redemptions. Once you've narrowed it down to those two, getting the most from your Ultimate Rewards® points is just a matter of figuring out whether your points are worth more at their fixed rate or with a transfer and an award booking.
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