Template: UR Intro
From Travel Strategies
Chase's loyalty program is called Ultimate Rewards. Ultimate Rewards Guide
- You can transfer your Ultimate Reward points to many different frequent flyer and hotel loyalty programs. Ultimate Reward points can be converted into frequent flyer miles with any of about a dozen different frequent flyer programs. This gives you the flexibility to take advantage of award space on over a hundred different airlines, and the ability to combine the points you earn from your credit card, with points you earned directly with the airline program. In many cases, you can take advantage of available award space, by booking frequent flyer tickets with one of several different programs, allowing you to take advantage of whichever program's award chart requires the fewest miles for the trip.
- Unlike the other "transferable" point programs, you can get good value from your Ultimate Reward points, without needing to hassle with frequent flyer tickets. Ultimate Reward points can be converted into Hyatt hotel points, which can easily be used for award nights, at values typically over 1.7 cents per point. If you have the Sapphire Reserve card, you can use your points, instead of cash, to purchase most types of travel, via the Chase website, at 1.5 cents per point. And you can get often get slightly more value than that when using your points to purchase Southwest Airline tickets.
- We value Ultimate Reward points at 1.7 cents each. Because you can take advantage of award space and "sweet spots" from many different frequent flyer programs, Ultimate Reward points are worth more than any single type of airline miles. If you highly valuable premium-cabin award tickets, Ultimate Reward points are worth a little more. If you want to avoid the hassles associated with frequent flyer tickets, they are worth a little less. How Much are Points Worth? Even if you just use them, like cash, to purchase travel at 1.5 cents each, the reward rate on any purchase with the Chase Freedom card is 2.25 cents per dollar, the reward rate on travel and restaurant purchases with the Sapphire Reserve is 4.5 cents per dollar, and the signup bonus for the Sapphire Cards is worth $750.
While you can typically get the most value for your points, by using them for frequent flyer tickets, you can easily get good value, with much less effort, with other types of redemptions.