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What’s the Value of Chase Ultimate Rewards Points?
You could get nearly 2 cents of value out of each of your Chase points, depending on how you use them.
Craig Joseph is a NerdWallet credit cards and travel rewards expert. He has degrees in geology from West Virginia University and oceanography from Oregon State University and has published in academic journals, newspapers and blogs. Craig is passionate about personal finance and wants to enhance the financial literacy of everyone he meets. He'll probably also try to convince you why rocks are cool.
Meghan Coyle is an editor on the Travel Rewards team and the co-host of the Smart Travel podcast. She covers travel credit cards, airline and hotel loyalty programs, and how to travel on points. Meghan is based in Los Angeles and has a love-hate relationship with LAX.
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Chase Ultimate Rewards® points are among the most sought-after travel rewards issued by any bank. They are popular due to their flexibility and value. But how valuable are they?
Based on our most recent analysis, Chase points are worth between 1 cent and 1.8 cents each, depending on how they’re used and which card they were earned with.
This wide range of values is due to the complexity of Ultimate Rewards® redemption options. Like most credit card reward points, they have a baseline value when used to book travel directly through the portal. But for increased value, you can transfer the rewards to travel partners like Hyatt and United Airlines, then book your stay or flight directly through the partner.
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Chase points value when booking through the portal
The baseline value of Chase's travel portal changed in June 2025 with the introduction of a feature called Points Boost.
Previously, the value of your points was set at a fixed value depending on your card.
Now, the baseline value is 1 cent each, regardless of the card you hold (10,000 points equals $100). Select bookings marked as Points Boost will increase the point value to between 1.5 and 2 cents each. The value and availability of Points Boost awards varies depending on your card.
Old baseline value
New baseline value
New Points Boost value
Chase Sapphire Reserve®
1.5 cpp.
1 cpp.
1.75 to 2 cpp.
Chase Sapphire Preferred®
1.25 cpp.
1 cpp.
1.5 to 1.75 cpp.
Ink Business Preferred® Credit Card
1.25 cpp.
1 cpp.
1.5 to 1.75 cpp.
Sapphire Reserve for Business®
N/A.
1 cpp.
1.75 to 2 cpp.
These values represent the simplest and most direct way of using Chase points — through Chase's travel portal.
There’s lots of wiggle room here. So much, in fact, that it’s hard to pin down a specific value across all of Chase’s transfer partners. Our top-end estimate of 1.8 cents per point is based on the highest-value transfer option (World of Hyatt), but that doesn’t mean all the options are equal.
The table below shows the transfer partners for which we have data-driven point and mile valuations. In short: The estimated value of Chase Ultimate Rewards® points when redeeming with Chase partners range in value.
The optimized value of Chase points depends on the value of these transfer partners, but there is another factor to consider: how many high-value transfer partners the Chase Ultimate Rewards® program has. This affords more options for travel rewards hobbyists who are willing to dive into these programs and find the best deals.
Comparing Chase points to other programs with fewer high-quality transfer partners is like comparing a $100 bill to a $100 Olive Garden gift card. They’re technically worth the same amount, but one has a broader range of uses than the other.
Nerdy Perspective
How do you use Chase Ultimate Rewards® points?
Craig Joseph
Lead Travel Writer
Chase Ultimate Rewards® are one of my favorite rewards currencies. I've transferred almost 3 million points to transfer partners in 10 years, mostly to cover nicer flights and hotels than I'd typically pay for in cash. I've received great value from my points by transferring to Hyatt for stays at swanky properties like the Park Hyatt Tokyo and the Nimb Hotel in Copenhagen, and to United Airlines and Air Canada for international flight redemptions on partner airlines.
Chase Ultimate Rewards® are one of my favorite rewards currencies. I've transferred almost 3 million points to transfer partners in 10 years, mostly to cover nicer flights and hotels than I'd typically pay for in cash. I've received great value from my points by transferring to Hyatt for stays at swanky properties like the Park Hyatt Tokyo and the Nimb Hotel in Copenhagen, and to United Airlines and Air Canada for international flight redemptions on partner airlines.
Craig Joseph
Lead Travel Writer
Caitlin Mims
Travel Editor
I love Chase Ultimate Rewards® points because they’re so easy to use. Hyatt is definitely the most valuable transfer partner, but since I rarely stay at Hyatt hotels, I tend to use my points for flights. United is a great domestic option to have, but I have also found great deals on domestic flights by transferring my points to Air Canada and British Airways and booking codeshare flights on United and American Airlines, respectively.
I love Chase Ultimate Rewards® points because they’re so easy to use. Hyatt is definitely the most valuable transfer partner, but since I rarely stay at Hyatt hotels, I tend to use my points for flights. United is a great domestic option to have, but I have also found great deals on domestic flights by transferring my points to Air Canada and British Airways and booking codeshare flights on United and American Airlines, respectively.
Caitlin Mims
Travel Editor
Meghan Coyle
Assistant Assigning Editor, Travel
I save all of my Chase Ultimate Rewards® points to use on Hyatt redemptions. World of Hyatt has the highest value points among all of Chase Ultimate Rewards' transfer partners by far, so instead of booking through the Chase Travel portal or transferring to low-value partners, I transfer my Chase Ultimate Rewards points to Hyatt to stay at beautiful, luxury properties like the Park Hyatt Kyoto.
I save all of my Chase Ultimate Rewards® points to use on Hyatt redemptions. World of Hyatt has the highest value points among all of Chase Ultimate Rewards' transfer partners by far, so instead of booking through the Chase Travel portal or transferring to low-value partners, I transfer my Chase Ultimate Rewards points to Hyatt to stay at beautiful, luxury properties like the Park Hyatt Kyoto.
Meghan Coyle
Assistant Assigning Editor, Travel
Craig Joseph
Lead Travel Writer
Chase Ultimate Rewards® are one of my favorite rewards currencies. I've transferred almost 3 million points to transfer partners in 10 years, mostly to cover nicer flights and hotels than I'd typically pay for in cash. I've received great value from my points by transferring to Hyatt for stays at swanky properties like the Park Hyatt Tokyo and the Nimb Hotel in Copenhagen, and to United Airlines and Air Canada for international flight redemptions on partner airlines.
Chase Ultimate Rewards® are one of my favorite rewards currencies. I've transferred almost 3 million points to transfer partners in 10 years, mostly to cover nicer flights and hotels than I'd typically pay for in cash. I've received great value from my points by transferring to Hyatt for stays at swanky properties like the Park Hyatt Tokyo and the Nimb Hotel in Copenhagen, and to United Airlines and Air Canada for international flight redemptions on partner airlines.
Craig Joseph
Lead Travel Writer
Caitlin Mims
Travel Editor
I love Chase Ultimate Rewards® points because they’re so easy to use. Hyatt is definitely the most valuable transfer partner, but since I rarely stay at Hyatt hotels, I tend to use my points for flights. United is a great domestic option to have, but I have also found great deals on domestic flights by transferring my points to Air Canada and British Airways and booking codeshare flights on United and American Airlines, respectively.
I love Chase Ultimate Rewards® points because they’re so easy to use. Hyatt is definitely the most valuable transfer partner, but since I rarely stay at Hyatt hotels, I tend to use my points for flights. United is a great domestic option to have, but I have also found great deals on domestic flights by transferring my points to Air Canada and British Airways and booking codeshare flights on United and American Airlines, respectively.
Caitlin Mims
Travel Editor
Meghan Coyle
Assistant Assigning Editor, Travel
I save all of my Chase Ultimate Rewards® points to use on Hyatt redemptions. World of Hyatt has the highest value points among all of Chase Ultimate Rewards' transfer partners by far, so instead of booking through the Chase Travel portal or transferring to low-value partners, I transfer my Chase Ultimate Rewards points to Hyatt to stay at beautiful, luxury properties like the Park Hyatt Kyoto.
I save all of my Chase Ultimate Rewards® points to use on Hyatt redemptions. World of Hyatt has the highest value points among all of Chase Ultimate Rewards' transfer partners by far, so instead of booking through the Chase Travel portal or transferring to low-value partners, I transfer my Chase Ultimate Rewards points to Hyatt to stay at beautiful, luxury properties like the Park Hyatt Kyoto.
Meghan Coyle
Assistant Assigning Editor, Travel
Craig Joseph
Lead Travel Writer
Chase Ultimate Rewards® are one of my favorite rewards currencies. I've transferred almost 3 million points to transfer partners in 10 years, mostly to cover nicer flights and hotels than I'd typically pay for in cash. I've received great value from my points by transferring to Hyatt for stays at swanky properties like the Park Hyatt Tokyo and the Nimb Hotel in Copenhagen, and to United Airlines and Air Canada for international flight redemptions on partner airlines.
Chase Ultimate Rewards® are one of my favorite rewards currencies. I've transferred almost 3 million points to transfer partners in 10 years, mostly to cover nicer flights and hotels than I'd typically pay for in cash. I've received great value from my points by transferring to Hyatt for stays at swanky properties like the Park Hyatt Tokyo and the Nimb Hotel in Copenhagen, and to United Airlines and Air Canada for international flight redemptions on partner airlines.
Craig Joseph
Lead Travel Writer
Caitlin Mims
Travel Editor
I love Chase Ultimate Rewards® points because they’re so easy to use. Hyatt is definitely the most valuable transfer partner, but since I rarely stay at Hyatt hotels, I tend to use my points for flights. United is a great domestic option to have, but I have also found great deals on domestic flights by transferring my points to Air Canada and British Airways and booking codeshare flights on United and American Airlines, respectively.
I love Chase Ultimate Rewards® points because they’re so easy to use. Hyatt is definitely the most valuable transfer partner, but since I rarely stay at Hyatt hotels, I tend to use my points for flights. United is a great domestic option to have, but I have also found great deals on domestic flights by transferring my points to Air Canada and British Airways and booking codeshare flights on United and American Airlines, respectively.
Caitlin Mims
Travel Editor
Meghan Coyle
Assistant Assigning Editor, Travel
I save all of my Chase Ultimate Rewards® points to use on Hyatt redemptions. World of Hyatt has the highest value points among all of Chase Ultimate Rewards' transfer partners by far, so instead of booking through the Chase Travel portal or transferring to low-value partners, I transfer my Chase Ultimate Rewards points to Hyatt to stay at beautiful, luxury properties like the Park Hyatt Kyoto.
I save all of my Chase Ultimate Rewards® points to use on Hyatt redemptions. World of Hyatt has the highest value points among all of Chase Ultimate Rewards' transfer partners by far, so instead of booking through the Chase Travel portal or transferring to low-value partners, I transfer my Chase Ultimate Rewards points to Hyatt to stay at beautiful, luxury properties like the Park Hyatt Kyoto.
Use our Chase points calculator below to determine the value of any number of Chase Ultimate Rewards® points to dollars. This is useful for comparing the value of promotions and sign-up offers or in assessing the value of an existing cache of points.
Credit cards that earn Chase Ultimate Rewards® points
Note: Chase's cash-back credit cards technically earn that cash in the form of Chase Ultimate Rewards®. One point equals 1 cent in those cases. If you have a premium travel card, you can transfer those points to the travel card for access to transfer partners and Points Boost bookings through the travel portal.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
The Chase Freedom Flex® replaced the original Chase Freedom®, but holders of the original card were able to keep using it. That card offers the same 5% in rotating categories and 1% elsewhere, but not the bonus rewards on travel, dining and drugstores.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
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