7 ways to get over 5 cents per point in value from your Chase Ultimate Rewards points

May 24, 2022

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11 min read

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You've worked hard to earn your Chase points, and you want to get the most value when you redeem them.

There are many ways to redeem your Chase points, but what are the very best redemptions? I'm talking about the redemptions where your 60,000 point sign-up bonus from the Chase Sapphire Preferred Card can generate $4,000 or more in value (or 5-plus cents per point).

TPG values each Chase Ultimate Rewards point at 2 cents, but it's possible to get more than this if you know where to look. In fact, you can often get more than 2.5 times our valuation when redeeming Chase Ultimate Rewards points for high-end hotel stays and premium international airfare.

So, let's take a look at a few of these redemptions that often yield 5-plus cents per point in value.

Before we dive in, I should mention that I am comparing the cash versus points price as my sole metric in assessing redemptions. These are the redemptions that provide the maximum value from Chase points when compared to cash rates.

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Chase's transfer partners

United MileagePlus is one of Chase's 11 airline transfer programs. (Photo by Kyle Olsen/The Points Guy)

In order to get more than 5 cents per point in value from your Chase Ultimate Rewards points, you'll need to leverage the program's transfer partners.

You can transfer Chase points to 11 airline loyalty programs and three hotel loyalty programs. All transfers occur at a 1:1 ratio (though there are two limited-time transfer bonuses), and you must transfer in 1,000-point increments. This means that 1,000 Chase points equal 1,000 United MileagePlus miles, World of Hyatt points, etc.

Here's a look at Chase's list of transfer partners.

Airlines:

Hotels:

As you might expect, not all transfer partners are created equal. Some make it easy to get outsized value from your points, while others (like IHG One Rewards) tend to provide lower value. Read our full guide about Chase Ultimate Rewards' transfer partners for more information on each of the 14 transfer partners.

How to get 5-plus cents per Ultimate Reward point in value

While you can use Chase points to book travel through the Ultimate Rewards travel portal, you're better off transferring the points to a variety of travel programs if you redeem them at the highest rate possible.

It's important to note that there's a big difference in the way that one-way and round-trip flights are priced. When using cash, one-way, long-haul international flights are almost always more expensive. So if you're looking to use cash, you should be planning your flights as round-trip or multi-city bookings when possible.

On the award side, one-way and round-trip flights generally price out similarly, with one-way tickets coming in at half the cost of a round-trip ticket.

Here are some of the hidden gems in Chase's transfer partner award charts:

5.38 cents per point: Southeast Asia in business class using 189,000 United MileagePlus miles

Award price: 189,000 miles + $68.57.
Cash price: $10,183.

While spending 189,000 miles is no drop in the bucket, the alternative would be to pay $10,183 on this multi-city business-class itinerary to Bangkok and Manila, Philippines. The Thai Airways middle flight from Suvarnabhumi Airport (BKK) to Ninoy Aquino International Airport (MNL) is "free" thanks to the United Excursionist Perk.

This itinerary also includes the new All Nippon Airways business class, known to be one of the best in the skies.

8.23 cents per point: Frankfurt in business class using 122,600 United MileagePlus miles

Award price: 122,600 miles + $131.97.
Cash price: $10,226.

As previously mentioned, it's nice to take advantage of the Excursionist Perk on United award tickets, but that's not the only way to find value in the program. For example, this round-trip itinerary from O'Hare International Airport (ORD) to Frankfurt Airport (FRA) is selling for 122,600 miles. Booking the flight outright would set you back more than $10,000 on some dates.

6.42 cents per point: Cape Town, South Africa, to Singapore in business class using 68,600 Singapore Airlines KrisFlyer miles

(Screenshot courtesy of singaporeair.com)

Award price: 68,600 miles + $69.50.
Cash price: $4,472.

In my opinion, the best KrisFlyer award redemption for business class on Singapore Airlines is from South Africa to Singapore.

At the time of writing, business-class flights on this route were on sale for just 34,300 miles one-way. That's 12-plus hours on one of the best business-class products in the sky. While this is a limited-time promotional price, even the typical saver award price of 45,000 miles is a downright bargain.

Best of all, you'll only need to pay $35 in taxes and fees each way.

9.63 cents per point: Iberia business class using 100,000 Iberia Plus points

Award price: 100,000 Avios + $259.87.
Cash price: $9,892.

You read that right: almost 10 cents per point. With Iberia Plus, you can transfer Chase points to Iberia Plus to book a one-way business-class flight from Adolfo Suárez Madrid—Barajas Airport (MAD) to the East Coast for as little as 34,000 points. In fall, there's pretty good space from Madrid to John F. Kennedy International Airport (JFK) for 100,000 points round trip. If you paid with cash, you'd spend almost $10,000 on some dates.

This is a highly appealing way to get back from Europe in business class on points.

6.76 cents per point: Delta One business class to Europe using 99,000 Virgin Atlantic Flying Club points

Award price: 99,000 points (127,500 without the transfer bonus) + $131.87.
Cash price: $6,826.

Until June 15, Chase is offering a 30% bonus on points transferred to Virgin Atlantic Flying Club. That means that 1 Chase point converts to 1.3 Virgin Atlantic Flying Club points. One of the sweet spots on the Virgin Atlantic Flying Club award chart is Delta One's business class to Europe. With the current transfer bonus, 99,000 Chase points convert to 128,700 Virgin Atlantic Flying Club points. That's a great deal to get a lie-flat seat across the Atlantic, especially considering that the alternative is to pay $6,826 if you buy the flight outright.

21.91 cents per point: ANA first class to Tokyo using 86,000 Virgin Atlantic Flying Club points

Award price: 86,000 points (110,000 points without transfer bonus) + $53.07.
Cash price: $18,898.

Using Virgin Atlantic Flying Club to book ANA's first-class product is one of the best ways to redeem points and miles. One-way first-class flights from the West Coast to Japan are 55,000 points; from the East Coast, you'll find comparable flights for 60,000 points. However, the current transfer bonus means you only need to transfer 43,000 Chase points to book West Coast flights and 47,000 Chase points to book East Coast flights.

The catch? Flying Club ANA awards can't be booked online, so you'll need to call Virgin Atlantic at +1-800-862-8621 to make your reservation.

6.06 cents per point: New Year's at the Park Hyatt Sydney for 35,000 to 45,000 points

I've written about how I'm maximizing my World of Hyatt points this year, and one upcoming redemption I am most looking forward to is spending New Year's at the Park Hyatt Sydney. At the time of writing, award space is extremely limited, so you may need to check back regularly in the coming months to find a cancellation.

But if you're like me and manage to find a room, your 35,000 to 45,000 World of Hyatt points will cover a room that is selling for north of $2,750. This comes out to just over 6 cents per point on peak dates like New Years Eve.

How to earn Chase Ultimate Rewards points

You can earn Chase Ultimate Rewards points with several Chase credit cards. Here's a look at three of the most popular Chase credit cards, each of which has a welcome offer that can provide thousands of dollars in free travel if you redeem through transfer partners:

Chase Sapphire Preferred Card: 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening; $95 annual fee.
Chase Sapphire Reserve: 60,000 points after you spend $4,000 on purchases in the first three months from account opening; $550 annual fee.
Ink Business Preferred Credit Card: 100,000 points after you spend $15,000 on purchases in the first three months from account opening; $95 annual fee.

Bottom line

While we value Chase points at 2 cents apiece, that figure serves as a basis to help you decide whether to use your points when you're planning travel. There are times when you can knock our valuation out of the park by leveraging Chase's 14 transfer partners, sometimes giving you well over 5 cents per point in value.

Featured image by (Photo by Kyle Olsen/The Points Guy)

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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