Guide to earning and redeeming Chase Ultimate Rewards
November 18, 2019
When it comes to earning rewards on everyday purchases, Chase Ultimate Rewards credit cards offer one of the most attractive rewards programs available. But as you shop for a Chase card, it’s good to know that there are benefits to owning multiple Chase cards in order to maximize bonuses.
Best Chase cards to use for Ultimate Rewards
Chase Sapphire Reserve® is one of the high-end options among the Chase Ultimate Rewards credit cards. To make the hefty $550 annual fee worth it, you should only consider this card if you’re a frequent traveler or spend a significant sum on luxury vacations and dining.
Chase Sapphire Preferred Card® is a must-have for the everyday traveler. Earn two points for every dollar spent on travel and dining purchases, plus no foreign transaction fees and an incredible 60,000 bonus point intro offer.
If you need an everyday card and don’t mind the extra planning, the Chase Freedom® offers a great bonus incentive. Bonus categories (i.e gas stations, supermarkets, and streaming services) are announced each quarter. As long as you activate your quarterly bonus before the deadline, you’ll get 5% cash back on up to $1,500 in combined purchases.
Like the name suggests, the Southwest Rapid Rewards® Premier Credit Card is a great option for Southwest frequent flyers. Along with the 2x point bonus on Southwest purchases, enjoy other perks including complimentary checked baggage and priority boarding.
Whether you’re a new start-up or a small business, the Ink Business Cash℠ Credit Card® has much to offer. There’s no annual fee and you can earn a nice 5% cash back bonus on up to $25,000 worth of office supplies and telecommunications expenses.
If your small business spends a lot on travel or digital marketing, the Ink Business Preferred℠ Credit Card® is calling out for you. You can earn up to 3x points on a variety of business categories, including travel, digital advertising, and telecommunications. Add cards for your employees at no extra charge.
How to redeem your Chase Ultimate Reward points
Your Chase points can be redeemed in a variety of ways, including cash, travel, Apple purchases, Amazon purchases and gift cards. To do this, you first need to log in to your Chase account and access the Chase Ultimate Rewards Portal. Search according to your desired redemption option to see what your points are eligible for. For example, in order to redeem for travel, search for available flights according to flight and travel date. Then, select the best option for the amount of points you have.
Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards.
Cash back or gift cards
You can choose to redeem all of your points for cash in the form of a direct deposit or a statement credit. At around one cent per point, this would equate to $100 for every 10,000 points. Points can also be used for gift cards to a variety of popular restaurants and retail stores.
One of the best ways to redeem points is through travel purchases using the Chase Ultimate Rewards portal booking tool. Points can be used towards flights, hotels, rental cars, and events or experiences. Chase Sapphire Preferred and Ink Business Preferred offer the highest redemption rate at 1.5 cents per point. You can transfer points from other Chase rewards cards to these accounts for maximum value.
Shop on Amazon
If you link your Chase rewards card directly to your Amazon account, it’s easy to redeem points when making purchases.
Transfer to travel partners
If you own a Chase Sapphire Preferred® Card, Chase Sapphire Reserve® or Ink Business Preferred℠ Credit Card, it’s possible to transfer your points to one of Chase’s many airline and hotel travel partners. They can be redeemed as frequent flyer miles.
In a nutshell
Whether you’re a small business owner, a frequent flyer or both, you don’t have to limit yourself to just one Chase Ultimate Rewards credit card. Choose the options that will bring the most value, and familiarize yourself with the bonus structure so you can maximize the return.