Before you apply for any of these cards, you should be aware of the Chase 5/24 rule — it’s an unwritten rule that prevents you from opening more than five credit cards within the past 24 months. If you’ve opened too many cards recently (from any issuer), you won’t be able to open a new Chase card (or earn the sign-up bonus on that card).
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Chase Ultimate Rewards®: Earning and Redeeming Chase Points
Content was accurate at the time of publication.
Chase Ultimate Rewards® is one of the most popular credit card rewards programs for frequent travelers, and with good reason. Several Chase credit cards earn Ultimate Rewards® points and offer very flexible redemption options, including 1:1 point transfers to 14 airline and hotel partners.
Read on to learn how you can earn Chase Ultimate Rewards® points, what points are worth and what the best rewards redemption options are.
| Chase Ultimate Rewards® quick facts | |
|---|---|
| Earning points | Earn points with personal and business credit cards. Cards that earn points include the Chase Sapphire Reserve®, Chase Sapphire Preferred® Card, Chase Freedom Flex℠ and the Ink Business Preferred® Credit Card. |
| Redeeming points | Redeem for cash back (1 cent per point), gift cards, merchandise, Pay with Points, travel through Chase or 1:1 point transfers to travel partners |
| Point value | 2 cents each when transferred to travel partners |
| Transfer partners | 11 frequent flyer programs and three hotel loyalty programs, including Southwest, United and Hyatt |
| Pros |
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| Cons |
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Browse our top picks for the best Chase credit cards of 2024.
How much are Chase points worth?
Chase Ultimate Rewards® points are valuable and versatile. We estimate points are worth around 2 cents apiece on average when transferred to a Chase travel partner.
However, the value of your points will depend on which card you have and how you redeem your points:
- For most Chase cards, the Chase Ultimate Rewards® value is simple. They’re worth 1 cent per point when used toward cash back, travel expenses and other items.
- The Chase Sapphire Preferred® Card and Chase Sapphire Reserve® cards offer a 25% and 50% discount, respectively, when points are redeemed through the Chase Travel portal, making the Ultimate Rewards points worth 1.25 to 1.5 cents per point.
- If your Ultimate Rewards card has transfer partners, you can also transfer your rewards to partner loyalty programs where they can be worth around 2 cents each.
Value of 1,000 Ultimate Rewards points
| Form of redemption | Value |
|---|---|
| Cash back | $10 |
| Gift cards | $10 |
| Travel on Chase TravelSM portal | Up to $15 (depending on card) |
| Transfer to loyalty program | $20 |
| Pay with points on Amazon.com and PayPal | $8 |
Is Chase Ultimate Rewards® worth it?
The Chase Ultimate Rewards® program offers high-value, flexible redemption options, including 1:1 point transfers to major travel partners. While there are comparable programs from American Express, Capital One and Citibank, Chase Ultimate Rewards® has a consistently higher cash back redemption rate than other programs, which means you get the advantage of high-value travel redemptions combined with the consistency of cash back redemptions.
What we like about Chase Ultimate Rewards®:
- Points don’t expire
- You can transfer points at a 1:1 rate to 11 airlines and three hotel partners
- You can redeem points for cash back at a value of 1 cent per point
- Points are worth at least 25% to 50% more with annual-fee cards
- You can pool points from no-annual-fee cards to annual-fee cards to boost their value
Ultimate Rewards® Transfer partners
- Aer Lingus, AerClub
- Air Canada Aeroplan
- British Airways Executive Club
- Emirates Skywards®
- Flying Blue AIR FRANCE KLM
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards®
- United MileagePlus®
- Virgin Atlantic Flying Club
- IHG® Rewards Club
- Marriott Bonvoy®
- World of Hyatt®
Chase Ultimate Rewards® credit cards
You can earn and redeem Chase Ultimate Rewards® with many cards. However, to transfer points to Chase travel partners, you’ll need the Chase Sapphire Reserve®, Chase Sapphire Preferred® Card or Ink Business Preferred® Credit Card.
Tip: You can maximize your points by earning rewards from another Chase card, then transferring them to a travel card account.
You might also prefer a cash back card with no annual fee and more straightforward redemption options. Each type of card has its own advantages.
THE BEST OPTION FOR MOST TRAVELERS
Chase Sapphire Preferred® Card
LendingTree's Review
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.- Generous sign-up bonus
- Bonus rewards for online groceries and streaming services
- 10% bonus points on yearly earnings each account anniversary
- Strong travel and purchase coverages
- $95 annual fee
- No introductory APR offer
- No bonus rewards for gas and in-store grocery purchases
The Chase Sapphire Preferred® Card will set you back $95 per year, but you can earn a welcome bonus that can cover that fee for years. Points can transfer to airline and hotel partners for premium travel redemptions, and you get 25% more value when redeeming points through the Chase TravelSM portal.
- Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
- Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase Travel℠
- 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Member FDIC
THE BEST PREMIUM TRAVEL CARD
Chase Sapphire Reserve®*
LendingTree's Review
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.- $300 flexible travel credit
- Airport lounge access
- Global Entry, TSA PreCheck® or NEXUS Fee Credit
- Primary auto rental collision damage waiver
- $795 annual fee
- $75 fee per authorized user
While the Chase Sapphire Reserve® has a $795 annual fee, it’s outweighed by its many premium travel benefits. If you use the $300 annual travel credit, fee credit for Global Entry, TSA PreCheck or NEXUS membership and Priority Pass™ Select airport lounge membership, it makes up for the annual cost. On top of that, you can earn a generous sign-up bonus.
You’ll also get a 50% points bonus when you redeem rewards through Chase Travel, or you can transfer points to airline and hotel partners. Plus, this card also features premium travel insurance benefits, including primary auto rental coverage.
- Earn 100,000 bonus points + $500 Chase Travel℠ promo credit after you spend $5,000 on purchases in the first 3 months from account opening.
- Get more than $2,700 in annual value with Sapphire Reserve.
- Earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
- $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Access over 1,300 airport lounges worldwide with a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck® every 4 years
- Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
- Get complimentary Apple TV+, the exclusive streaming home of Apple Originals. Plus Apple Music - all the music you love, across all your devices. Subscriptions run through 6/22/27 - a value of $250 annually
- Member FDIC
*The information related to the Chase Sapphire Reserve® has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
BEST ROTATING CATEGORY CASH BACK CARD
Chase Freedom Flex℠*
LendingTree's Review
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.- No annual fee
- 0% intro APR on purchases for 15 months
- First-year 5% cash back on groceries
- Cellphone protection
- Caps on bonus category earnings
- Must remember to activate quarterly bonus category
- Foreign transaction fee
The Chase Freedom Flex℠ is the best option for cardholders who love to maximize their rewards each quarter (just remember to activate your quarterly bonus categories!). Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter. Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
The card also comes with an intro APR offer for purchases and balance transfers, as well as additional benefits like cellphone protection and trip cancellation/interruption insurance.
- Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
- 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.99% - 28.49%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Flex℠ card
- Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
*The information related to the Chase Freedom Flex℠ has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
BEST NO-ANNUAL FEE CASH BACK CARD
Chase Freedom Unlimited®
LendingTree's Review
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.- Earn at least 1.5% cash back on all purchases
- $0 annual fee
- Intro APR offer
- Charges foreign transaction fees
- Less generous sign-up bonus than some other Chase cards
The Chase Freedom Unlimited® lets you earn unlimited rewards, including a 1.5% flat rate on all your purchases. Enhanced earning categories include 5% cash back on travel purchased through Chase Travel and 3% cash back on drugstore and dining purchases, including takeout and eligible delivery services. Cardholders get a 15-month 0% intro APR for purchases and balance transfers, as well as a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
- Intro Offer: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.99% - 28.49%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
- Member FDIC
THE BEST TRAVEL CARD FOR BUSINESSES
Ink Business Preferred® Credit Card
LendingTree's Review
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.- Earn large sign-up bonus
- Points worth 25% more when redeemed for travel
- Transfer points to travel partners 1:1
- No foreign transaction fees
- $95 annual fee
- Spending cap on elevated rewards rate
- High spending requirement for sign-up bonus
Business travelers can benefit from the Ink Business Preferred® Credit Card’s generous welcome offer and high earnings on business purchases. Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn.
With its $95 annual fee, you’ll get free employee cards and travel and purchase protections — these include primary rental car coverage (when renting a car for business purposes), trip cancellation and interruption insurance and cellphone protection.
- Earn 90k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase Travel℠
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Points are worth more when you redeem for travel through Chase Travel℠
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Member FDIC
HIGH REWARDS RATE ON COMMON BUSINESS PURCHASES
Ink Business Cash® Credit Card
LendingTree's Review
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.- Large cash bonus for a no annual fee card
- 0% Intro APR on Purchases for 12 months from account opening
- Excellent 5% rewards rate in common business expense categories
- Free employee cards
- Caps on bonus earnings
- No bonus cash back on travel spending
- Foreign transaction fees
The Ink Business Cash® Credit Card offers superb cash rewards on business purchases for a $0 annual fee. Cardholders Earn 5% cash 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. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.This business credit card also includes free employee cards and an introductory APR for purchases.
- Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
- Earn 5% cash 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
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
- Member FDIC
SIMPLE REWARDS FOR BUSINESSES
Ink Business Unlimited® Credit Card
LendingTree's Review
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.- High welcome offer
- Unlimited cash back rewards
- Intro APR on purchases
- Competitive regular APR range
- No bonus reward categories
- Foreign transaction fee
- Fewer travel and purchase benefits
The Ink Business Unlimited® Credit Card keeps things simple, with unlimited 1.5% cash back on every purchase made for your business. There’s no annual fee, and new cardholders can get an intro purchase APR. Other perks include free employee cards, primary rental car coverage when renting a car for business purchases, purchase protection and extended warranty protection.
- Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Found a card you’re interested in? Learn more about how to apply for a credit card to improve your chances of being approved.What is the Chase 5/24 rule?
Other ways to earn Chase Ultimate Rewards® points
Chase’s Refer-A-Friend program allows you to earn points if your friend gets a Chase card. Share a customized referral link with your friends, and if they get an eligible card from that link, you’ll earn a bonus.
| Card | Earning potential |
|---|---|
| Chase Freedom® credit cards | Can earn up to $50 per referral, up to $500 per year |
| Chase Sapphire® credit cards | Can earn up to 10,000 points per referral, up to 75,000 points per year |
| Chase Ink cards® credit cards | Can earn up to 40,000 points per referral, up to 200,000 points per year |
Chase offers special promotions and points-earning rates from time to time. To maximize your Ultimate Rewards points, keep an eye on your email and your Ultimate Rewards account for these promotions.
You should also keep an eye on the sign-up bonus for your card for the first 90 days after you sign up. If the offer increases, you can call and see if Chase will match the new bonus amount.
Purchasing gift cards can help you to earn additional points on purchases that otherwise wouldn’t qualify for an increased earning rate — just make sure you’ll be eligible for points before you purchase gift cards with your credit card.
For example, Ink Business Cash® Credit Cardholders can earn 5 points per dollar on Staples purchases. Staples, an office supply store, sells gift cards to places that aren’t normally covered by the card’s bonus categories, like restaurants.
Warning: Sometimes, purchasing a gift card may be flagged as a cash advance. This is an extremely expensive transaction that comes with fees and a higher APR. After purchasing a gift card, make sure it’s registered as a purchase and not a Chase cash advance. If it went through as a cash advance, you won’t receive any points and will most likely be charged interest.
You can earn points by using the online shopping portal, Shop Through Chase. If you have a big purchase coming up, you can get anywhere between 1 to 15 extra points per dollar depending on the store. The mall, or online shopping portal, includes more than 500 participating stores with brands like Macy’s, Best Buy and more.
Clicking on one of the stores takes you to their respective online portals, where you can complete your purchase as usual. But be careful that you don’t close the merchant’s website — if you do, you’ll have to go through the Chase portal again to get the extra points.
The best ways to use Chase Ultimate Rewards®
Generally speaking, you’ll get the most value by redeeming Ultimate Rewards for travel. You can redeem points through the Chase TravelSM portal or transfer your points to Chase’s travel partners.
Redeem for travel through the Chase TravelSM portal
Redeeming your points for travel through the Chase TravelSM portal is one of the best ways to get the most value out of your Ultimate Rewards, especially if you have a Sapphire card to boost your points 25% or 50%. Compare market-rate hotel and airline cash prices with the cost in points through the portal. Try to get a rate of at least 1 cent per point, or more if you have a Sapphire card.
Transfer to Chase travel partners
Transferring to Chase travel partners can provide excellent value. While the redemption rate varies, savvy shoppers can get more from their points by transferring to high-value partners at a 1:1 ratio.
For example:
- Transfer to Southwest Rapid Rewards, valued at 1.4 cents per point
- Transfer to United MileagePlus, valued at 1.3 cents per point, or 1.6 cents per point for international flights
- Transfer to World of Hyatt Rewards, valued at 1.7 cents per point
Tip
Maximize your airline points or miles by choosing off-peak or international flights.
Maximize your airline points or miles by choosing off-peak or international flights.
Other ways to use Ultimate Rewards
- Cash back: At 1 cent per point, the Ultimate Rewards redemption value is higher than other similar programs.
- Gift cards: Use your points to buy gift cards at a rate of 1 cent per point. Sometimes, Chase offers discounts for specific gift cards, which raises the value.
- Pay with points with Amazon or PayPal: The redemption value drops to 0.8 cents per point.
Frequently asked questions
No, Chase points don’t expire as long as your account remains open. However, you’ll forfeit your points if you violate the terms of the Rewards Program Agreement — this includes things like fraudulent activity, bankruptcy and failure to pay.
Yes, you can have multiple Chase credit cards at the same time — and you can even pool points.
Yes, you can transfer your Ultimate Rewards points between your own accounts or to the account of an authorized user in your household. You can transfer between Ultimate Rewards accounts, or you can transfer Ultimate Rewards points to an eligible person’s partner program account (for example, moving your Ultimate Rewards to your spouse’s Marriott Bonvoy account).
Chase’s travel, cash back and business cards earn Chase Ultimate Rewards® points. These include: Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, Chase Freedom Unlimited®, Chase Freedom Flex℠, Ink Business Preferred® Credit Card, Ink Business Elite®, Ink Business Unlimited® Credit Card and Ink Business Cash® Credit Card. Chase co-branded cards do not earn Ultimate Rewards®.
The information related to the Chase Sapphire Reserve® and Chase Freedom Flex℠ has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
