Chase Ultimate Rewards can be used to book travel, cover eligible purchases, get cash back and more. If you have an eligible card, you can transfer points to Chase’s airline and hotel partners for potentially even more value. Plus, there are many ways for customers to earn these valuable points. In this Chase Ultimate Rewards review, you’ll learn how to earn and redeem points in 2025, which cards are part of the program and how to maximize rewards.
What Is Chase Ultimate Rewards?
Chase Ultimate Rewards is a benefits program that allows you to earn points with eligible cards. You can use Ultimate Rewards points for many purposes, including paying for travel, concerts or exclusive dining experiences. Another advantage is that you can transfer points to various Chase partners.
How Do Chase Ultimate Rewards Work?
When you make purchases with an eligible card, you earn Ultimate Rewards points. You can also earn points through sign-up bonuses or referring friends. Note that if you earn a referral bonus, Chase may send you an IRS Form 1099-MISC for referral income.
Generally speaking, you earn at least one point per dollar on eligible purchases. In addition, some cards earn more points when you spend in certain categories. Bonus categories vary by card, or even by quarter, so choose a card that aligns with your highest spending. For example, if you have a card that earns more for categories like gas or food, make sure you use it for those items, says Rupeng Liao, a lead consultant for Comscore, a global media measurement and analytics company.
If you have multiple Ultimate Rewards credit cards, you can typically combine points into one account at no charge. This perk allows you to maximize your rewards by earning bonus points on one card, then transferring them to another to get a higher value when redeeming them. This strategy is the basis for the Chase Trifecta, where you have multiple Chase cards to earn bonus points on your top-spending categories.
Combining points is especially useful when taking advantage of your status with a loyalty program, says R.J. Weiss, a certified financial planner and founder of The Ways to Wealth, a personal finance website. “For example, as a Hyatt Globalist, I prefer to transfer all our household points to my Chase account, which I then transfer to Hyatt,” Weiss says. “This maximizes the benefits we receive, such as better room upgrades and late checkout.”
[Read: Best Rewards Credit Cards.]
How to Redeem Your Chase Ultimate Rewards
After you’ve earned Chase Ultimate Rewards, there are several ways to redeem. Some options have greater value than others, and keep in mind they may vary depending on which card you have.
— Cash back. Points are worth 1 cent each, which means 50,000 points equal $500.
— Gift cards. Points are worth 1 cent each when redeemed for a gift card with one of more than 175 brands. You may also be able to get gift cards at discounted prices, which provides even more value for your points.
— Eligible shopping. You can pay with points when shopping at Amazon or when using PayPal at checkout. Points are worth 0.8 cent each at Amazon and when using PayPal. Cardholders can also use the Apple Ultimate Rewards store to purchase Apple products with points.
— Travel reservations. Book travel with your Ultimate Rewards points at a value of 1 cent per point. Chase Sapphire cardholders are eligible to book select travel with Points Boost, which maximizes the value of your travel.
— Pay Yourself Back. Get a statement credit for eligible purchases using this feature. Points may be worth more than 1 cent when used in this way.
— Chase Dining and Chase Experiences. Eligible cardholders can use their points for exclusive events and to cover takeout, reservations and exclusive culinary experiences.
— Transfer to hotel and airline partners. Chase partners with 14 airlines and hotels to offer eligible cardholders the opportunity to move points to other loyalty programs at a 1-to-1 ratio. Occasional promotions offer a bonus when transferring to select partners.
When redeeming points through the Chase Ultimate Rewards portal, you can combine points and cash. This flexibility allows you to reduce the cash price of a product or save points for other redemptions at a later time.
[Read: Best Cash Back Credit Cards.]
Which Chase Credit Cards Earn Ultimate Rewards?
Most Chase-branded credit cards earn Ultimate Rewards points. However, this is not so if you have a co-branded Chase hotel, airline or Disney card. For example, the Disney Premier® Visa® Card earns Disney rewards, while Chase Southwest cards earn Southwest points.
If you’re looking for a Chase card that earns Ultimate Rewards, there are several personal and business cards to choose from. Each card has its own unique benefits and rewards, so choose the card that aligns best with your lifestyle.
Personal Credit Cards
— Annual fee: $0
— Top rewards earning rate: 5% cash back on travel purchases through Chase Travel?
— Sign-up bonus: Earn $200 cash back after you spend $500 in the first three months. See Rates & Fees
— Annual fee: $0
— Top rewards earning rate: Earn 1.5% cash back on all purchases .
— Sign-up bonus: Earn a $25 statement credit after signing up for automatic payments within the first three months of opening your account. See Rates & Fees
Chase Freedom Flex®
— Annual fee: $0
— Top rewards earning rate: Get 5% cash back on travel purchased through Chase Travel, and 5% back on up to $1,500 in combined purchases in quarterly categories. Cardholders must activate the quarterly bonus category to earn the 5% cash back.
— Sign-up bonus: Earn a $200 bonus after you spend $500 on purchases in the first three months.
Chase Sapphire Preferred® Card
— Annual fee: $95
— Top rewards earning rate: Receive five points per dollar on travel purchased through Chase Travel, excluding hotel purchases that qualify for the $50 annual Chase Travel hotel credit.
— Sign-up bonus: Earn 75,000 bonus points after you spend $5,000 on purchases in the first three months. See Rates & Fees
— Annual fee: $795
— Top rewards earning rate: Receive eight points per dollar on all eligible travel booked through Chase, including The Edit?.
— Sign-up bonus: Earn 100,000 bonus points, plus a $500 travel credit, after you spend $5,000 on purchases in the first three months. See Rates & Fees
Business Credit Cards
Ink Business Unlimited® Credit Card
— Annual fee: $0
— Top rewards earning rate: Unlimited 1.5% cash back on all purchases
— Sign-up bonus: Earn $750 cash back after spending $6,000 on purchases in the first three months. See Rates & Fees
Ink Business Cash® Credit Card
— Annual fee: $0
— Top rewards earning rate: 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.
— Sign-up bonus: 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. See Rates & Fees
Ink Business Preferred® Credit Card
— Annual fee: $95
— Top rewards earning rate: Receive three points per dollar on the first $150,000 spent in combined purchases on travel, shipping purchases, online advertising, internet, cable and phone services each account anniversary year.
— Sign-up bonus: Earn 90,000 bonus points after you spend $8,000 on purchases in the first three months. See Rates & Fees
Ink Business Premier® Credit Card
— Annual fee: $195
— Top rewards earning rate: Get 2.5% cash back on every purchase of $5,000 or more. Note that you cannot combine rewards earned from this card with other Ultimate Rewards cards.
— Sign-up bonus: Earn $1,000 bonus cash back after you spend at least $10,000 on purchases in the first three months. See Rates & Fees
Customers who have a legacy Chase credit card, such as the Chase Freedom® or Chase Ink Bold® Business Card, can also earn and redeem Ultimate Rewards points.
[Read: Best Credit Cards.]
How Much Are Chase Ultimate Rewards Points Worth?
The value of Ultimate Rewards points depends on how you redeem them and which cards you have. Generally, you’ll need a card with an annual fee to get the most value from your Ultimate Rewards points.
For example, if you redeem points for cash back, you’ll receive 1 cent per point with any of the cards that earn Chase Ultimate Rewards points.
But when using a card to book via Chase Travel, your points could be worth more. Chase Sapphire cardholders can now see see eligible travel that qualifies for a Points Boost. If you’re booking travel with a Chase Sapphire Reserve, your points are worth two times more when using Points Boost. If you have a Chase Sapphire Preferred, your points are worth 1.5 times more on select airlines and hotels and up to 1.75 times more on select premium flights.
If your card permits point transfers to airline and hotel partners, they could be worth much more based on how you use them. Weiss says he has transferred over a million Ultimate Rewards points to Hyatt over the years because it provides him the most value.
“Although Hyatt prices its rooms based on peak and off-peak times, it still uses an award chart,” says Weiss. “So while the cash rate might triple during peak times, the award rate may only increase by 20% to 30%, making it an excellent value. This strategy often yields 4 cents per point or higher, significantly maximizing the value of our Ultimate Rewards points.”
Should You Use Chase Ultimate Rewards?
Chase Ultimate Rewards points are flexible and can be redeemed in a variety of ways. And if you have certain cards, you can receive even more value when booking travel, covering eligible transactions or transferring points to airline and hotel partners. When you use the Chase Trifecta strategy, you’ll maximize the number of points earned on every purchase, then benefit from free point transfers among accounts for the highest redemption values.
Chase Ultimate Rewards points are valuable, but they aren’t the only flexible rewards points that you can earn. For example, American Express, Capital One and Citi also have their own credit card rewards programs that offer attractive features and benefits.
Update 08/06/25: This story was published at an earlier date and has been updated with new information.
