Chase Ultimate Rewards: the complete guide
The most beginner-friendly transferable points program — and one of the two most valuable currencies in points and miles. Here’s everything you need to know about earning, transferring, and redeeming Chase UR points strategically.
What Chase Ultimate Rewards is
Chase Ultimate Rewards is the loyalty currency earned across Chase’s portfolio of consumer and business credit cards — including the Sapphire Preferred, Sapphire Reserve, Freedom Unlimited, Freedom Flex, and the Ink Business cards. Points earned on these cards aggregate into a single pool you can use for travel, cash back, or — most importantly — transfers to a curated list of 14 airline and hotel partners.
The program has been around since 2006, but it took on its current shape after Chase launched the Sapphire Reserve in 2016. Today, Chase Ultimate Rewards is tied with American Express Membership Rewards as the most valuable transferable points currency in the U.S. market — we value both at 2.0 cents per point when transferred to partners strategically.
What makes Chase UR special isn’t the partner list (Amex MR has more). It’s the specific partners on the list — particularly World of Hyatt, the single most valuable hotel transfer in points and miles. If you can transfer to Hyatt, you can routinely double or triple your points’ cash-equivalent value.
Bottom line: Chase UR is the program we recommend most often to beginners. It’s easier to understand than Amex MR, the transfer partners are more North America-friendly, and Chase makes it simple to combine points across cards. If you’re new to points and miles, start here.
Which Chase cards earn Ultimate Rewards points
Not every Chase card earns UR points — some earn cash back that’s denominated in points but can only be used as statement credit (those are the basic Freedom cards prior to combining with a “premium” card). To unlock the full power of Ultimate Rewards — including transfers to partners — you need at least one of these cards:
Chase Sapphire Preferred
The benchmark mid-tier travel card. Unlocks full transfer partner access. The single best entry point to the UR ecosystem.
Chase Sapphire Reserve
The premium version — higher earning rates, lounge access, $300 travel credit. Worth it if you’ll use the perks.
Chase Freedom Unlimited
1.5x on everything. Best pairing card — earns more on non-bonus spend than the Sapphire alone.
Chase Freedom Flex
5x on rotating quarterly categories (gas stations, groceries, Amazon, etc.) plus 3x dining and drugstores.
Chase Ink Business Preferred
The strongest business card in the UR family — 3x on travel, shipping, advertising, and internet/phone.
Chase Ink Business Cash & Unlimited
No-fee business cards earning 5x on office supplies and internet (Cash) or 1.5x on everything (Unlimited).
The starter combo: two cards, no extra fee
The most efficient UR earning setup for most people is the Chase Sapphire Preferred ($95) paired with the Chase Freedom Unlimited ($0). Use the Sapphire for travel and dining (3x-5x), and the Freedom Unlimited for everything else (1.5x). Pool the points into your Sapphire account for transfers. Net fee: $95.
The pooling rule (this is the secret that makes UR powerful)
Chase Ultimate Rewards has a feature most other programs don’t: you can transfer points between Chase accounts freely. As long as you hold a Sapphire or Ink Business Preferred card, you can pool points from your Freedom Unlimited, Freedom Flex, and Ink Business Cash/Unlimited cards into that account — and then transfer them to partners.
This unlocks a key strategic move: earn at the highest rates on the no-fee cards, then transfer the points to your premium card for redemption. The Freedom Unlimited earning 1.5x effectively becomes 1.5x on transferable points — better than the Sapphire Preferred’s 1x base rate on the same spending.
You can also transfer points to a household member — your spouse or domestic partner who lives at the same address. This lets families pool earnings from both partners’ cards into a single redemption-ready account.
How to pool points step by step
- Log in to your Chase Ultimate Rewards portal
- Click “Combine Points” from the dropdown menu
- Select your source card (e.g., Freedom Unlimited) and destination card (e.g., Sapphire Preferred)
- Choose the number of points to transfer
- Confirm — transfers between your own accounts are instant
One catch: If you ever downgrade out of all Sapphire/Ink Business Preferred cards, your points lose access to transfer partners — they revert to cash-back-only value. As long as you maintain at least one premium UR card, the points retain their full transfer value.
All 14 transfer partners
Chase Ultimate Rewards transfers to 11 airline partners and 3 hotel partners at a flat 1:1 ratio. Most transfers are instant; a few take up to 24 hours. Here’s the full list, organized by category and value to U.S. travelers.
Chase Ultimate Rewards transfer partners
All partners transfer at 1:1 — 1,000 UR points = 1,000 partner points/miles
| United MileagePlus Star Alliance · Polaris business class | 1:1 |
| Air Canada Aeroplan Star Alliance · Best for business class to Europe | 1:1 |
| Southwest Rapid Rewards Domestic flights · Companion Pass eligibility | 1:1 |
| British Airways Avios Oneworld · Short-haul partner awards at low rates | 1:1 |
| Air France/KLM Flying Blue SkyTeam · Frequent transfer bonuses | 1:1 |
| Iberia Plus Oneworld · Off-peak American Airlines awards | 1:1 |
| Aer Lingus AerClub Oneworld · Transatlantic business class sweet spots | 1:1 |
| Virgin Atlantic Flying Club ANA First Class, Delta partner awards | 1:1 |
| Singapore KrisFlyer Star Alliance · Singapore Suites & First Class | 1:1 |
| Emirates Skywards First Class to Dubai · YQ surcharges apply | 1:1 |
| JetBlue TrueBlue Domestic + Caribbean economy | 1:1 |
| World of Hyatt The single best hotel transfer in points and miles | 1:1 |
| Marriott Bonvoy Bigger footprint but lower per-point value | 1:1 |
| IHG One Rewards Holiday Inn, InterContinental properties | 1:1 |
The partners marked in gold are the ones worth memorizing — United, Aeroplan, Virgin Atlantic, and Hyatt are the four partners that deliver the highest cash-equivalent value for U.S.-based travelers booking the kind of trips most people actually take.
How to redeem your Chase UR points
Chase gives you four ways to redeem points. They’re not equally valuable — and the difference between the best and worst redemption is roughly 200% of the same points’ value.
Transfer to airline or hotel partners
The highest-value option. Move points 1:1 to one of the 14 partners and book directly with them. Routinely worth 2¢+ per point, sometimes 5–8¢ at sweet spots like ANA First Class via Virgin Atlantic.
Book through Chase Travel℠ portal
Sapphire Preferred holders get 1.25¢ per point; Sapphire Reserve holders get 1.5¢. Easier than transfers — book any flight or hotel like Expedia. Best when partner availability is scarce.
Pay Yourself Back (statement credits)
Redeem points against eligible purchases at 1¢ each. Useful for emergencies, but you’re leaving half the value on the table. Categories rotate periodically.
Cash deposit or check
The worst option. You get 1¢ per point in cash — the same as the cheapest redemption with none of the flexibility. We rarely recommend this.
The math on a 60K bonus, four ways
The Chase Sapphire Preferred’s 60,000-point welcome bonus is worth:
$600 as cash · $750 via Chase Travel (Preferred rate) · $900 via Chase Travel (Reserve rate) · $1,200+ transferred to Hyatt · $1,800+ for business class to Europe via Aeroplan
That’s a 3x value difference between the worst and best use. The goal of learning Chase UR is to consistently land in the top tier.
Top 5 sweet spot redemptions
These are the specific redemptions that make Chase UR worth holding. Each delivers far more value than the program’s average, and each is something our team has actually booked.
Category 1–4 Hyatt properties
Hyatt’s award chart is unusually generous at the low end. Category 4 properties cap at 18,000 points/night peak — for hotels where cash rates regularly exceed $400.
U.S. to Europe in business class
Aeroplan prices Star Alliance partner business class to Europe at 60K points one-way. Book Lufthansa, Swiss, or Austrian for what would be $4,000+ in cash.
ANA First Class round-trip to Japan
The best single redemption in points and miles. 110,000–120,000 Virgin Atlantic points books round-trip ANA First Class to Japan — tickets that retail above $20,000.
Polaris business class to Asia
United’s saver-level Polaris awards to Asia start at 88K miles one-way. With Excursionist Perk, you can route through Europe on the same award.
Short-haul Alaska Airlines partner flights
BA prices Alaska Airlines partner short-haul flights as low as 7,500 Avios one-way. Great for West Coast flights when cash prices spike.
Companion Pass strategy
Earn 135K Southwest points in a calendar year (easier via card welcome bonuses) and qualify for the Companion Pass — fly with a companion free on every Southwest flight for up to 2 years.
Chase Ultimate Rewards vs. Amex Membership Rewards
These are the two most valuable transferable points programs in the U.S. Most people don’t need both — picking one and going deep is usually better than spreading thin. Here’s how they stack up.
| Factor | Chase UR | Amex MR |
|---|---|---|
| Transfer partners | 14 | 22 |
| U.S. airline partners | 3 (United, Southwest, JetBlue) | 3 (Delta, JetBlue, Hawaiian) |
| Best hotel partner | Hyatt (1:1) | Hilton (1:2) |
| Best for business class to Europe | Aeroplan (60K) | Air France (50K when promo’d) |
| Beginner friendliness | High | Medium |
| Application difficulty | Subject to 5/24 rule | Once-per-lifetime bonus rule |
| Our valuation | 2.0¢ / point | 2.0¢ / point |
Our take on which to choose
Choose Chase UR if: You’re new to points and miles. You travel mostly within North America. You value Hyatt hotel redemptions. You want a simpler program to learn first. You’re under Chase’s 5/24 limit.
Choose Amex MR if: You fly international premium cabins frequently. You value the broader transfer partner network. You’re already at or over Chase 5/24 and can’t get Chase cards. You value Amex’s other perks (lounges, hotel status, statement credits).
The truth is, most serious points travelers eventually carry both — but if you only get one, start with Chase Ultimate Rewards. See our complete Amex MR guide if you’re leaning the other direction.
The best card to start with Chase UR
The Chase Sapphire Preferred is the entry point to the Ultimate Rewards ecosystem for most people. $95 annual fee, 60,000-point welcome bonus worth roughly $1,200 in transfer partner travel, and full access to all 14 transfer partners. It’s the card we recommend most often to readers learning points and miles.
Read our Sapphire Preferred review →Chase Ultimate Rewards FAQ
Do Chase Ultimate Rewards points expire?
No — as long as your Chase card account is open and in good standing. If you close all your Chase UR-earning cards, you’ll lose the points associated with those accounts. Move points to a household member’s account or redeem them before closing your last UR card.
How long do transfers to partners take?
Most transfers are instant. Transfers to Singapore KrisFlyer, British Airways Avios, and a few others can take up to 24 hours. Always confirm award availability before transferring — transfers are one-way and can’t be reversed.
Are there ever transfer bonuses to Chase partners?
Yes, but rarely. Chase runs transfer bonuses 2–4 times per year, typically to partners like Hyatt, Singapore Airlines, or Virgin Atlantic. Bonuses are usually 20-30% extra. When they happen, they’re worth taking advantage of for redemptions you’d make anyway.
Can I transfer Chase points to my spouse’s account?
Yes. Chase allows free, instant transfers to one household member (spouse or domestic partner at the same address). This is a powerful feature for families — both partners can earn welcome bonuses, then pool the points into a single account for redemption.
What happens to my UR points if I cancel my Sapphire card?
If you cancel your last Sapphire or Ink Business Preferred card, you lose access to transfer partners — points revert to cash-back-only value (1¢ each). To preserve transfer access, either keep at least one premium UR card, or transfer all points to partners before canceling.
Is Chase Ultimate Rewards better than airline-specific cards?
For most people, yes. Airline cards lock you into one program — if their availability is bad or they devalue, your miles are stuck. Chase UR transfers to 14 different partners, so you have backups when one doesn’t work. The exception: if you fly a single airline 20+ times a year and want elite status, an airline co-brand makes sense alongside Chase UR.
What’s the Chase 5/24 rule and does it apply to UR cards?
Chase will typically deny your application if you’ve opened 5+ credit cards (from any issuer) in the past 24 months. This applies to all Sapphire, Freedom, and Ink Business cards. If you’re new to points, get your Chase cards first — before applying to Amex, Citi, or others. Our 5/24 guide covers the full strategy.
Can business cards count toward Chase 5/24?
Most business cards from Chase, Amex, Capital One, and Citi don’t show up on personal credit reports — so they don’t count toward your 5/24 count. This is a meaningful loophole for points enthusiasts who’ve hit the 5/24 limit on personal cards but want to keep earning. Chase Ink Business cards count toward 5/24 for application purposes but don’t increase your 5/24 number once approved.