There is currently several credit card options for earning Ultimate Rewards Points.
- Chase Sapphire Preferred 40,000 point sign up bonus after spending $3,000 in the first three months.
- Chase Ink Bold (business card) 50,000 point sign up bonus after spending $5,000 in the first three months.
- Chase Plus (business card) 50,000 point sign up bonus after spending $5,000 in the first three months.
- Chase Classic (business card) 20,000 point sign up bonus after spending $3,000 in the first three months.
- Chase Freedom with the Chase Sapphire Preferred. Details here.
Are you interested in learning about your options for using Ultimate rewards points? In this post I’ll outline the travel related rewards associated with the Ultimate Rewards points.
Ways to Use Ultimate Rewards Points
1. Transfer points to select mileage programs.
If you are a Chase Sapphire Preferred card holder, you can transfer points to any of the following programs:
- British Airways
- Priority Club
- Korean Air
Each of these programs allow a 1:1 conversion rate. Thus, 50,000 Ultimate Rewards points can be converted into 50,000 Continental points.
So how does that translate?
If you transfer those points to Continental, you’ll get:
- 2 roundtrip domestic USA tickets (25,000 points each).
- Up to 2-5 nights of hotels.
You could even use those for up to 10 nights if you found a PointBreaks location. Right now, the Holiday Inn Cairns Australia is currently a PointBreaks location. How does 10 nights in Cairns, Australia sound for one credit card application?
Another option is to transfer them to Hyatt and use them at a high end hotel with rates over $1,000 per night.
2. Book Travel using the Ultimate Rewards booking portal.
The Ultimate Rewards website allows you to book flights, hotels, and car rentals. Even better, they offer a 20% points reduction for Preferred card holders.
As such, 50,000 worth of points can become $600 worth of travel.
The travel booking portal looks good as they seem to be able to find the same types of fares as you would find through Orbitz or Travelocity.
3. Get gift cards.
Most gift cards (over $25) are offered at a 1 point to one cent value.
You can get a gift card at over 75 different locations including:
- The Home Depot
- Old Navy
- Office Depot
There are even several travel related sites that offer gift card options. These include:
- Best Western
- Royal Caribbean
- Sea World
- Universal Studios
As you can tell the benefit of the Ultimate Rewards is versatility.