4 easy ways to get maximum value out of 100,000 Ultimate Rewards points

Oct 4, 2021

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Until this summer, the Chase Sapphire Preferred Card stayed relatively consistent over the years, offering much of the same benefits, fees and signup bonus over its 10+ year life.

But that all changed earlier this summer. The card got a slew of new benefits like an annual $50 hotel credit and annual 10% points bonus. Plus, it received updated earning categories; the card earns 2 points per dollar on travel, 3 points per dollar on dining, online groceries and streaming services and 5 points on travel booked through Chase.

Better yet, the card temporarily increased its signup bonus for new applicants. Those who apply and approved now earn 100,000 Ultimate Rewards points after spending $4,000 in the first three months – the highest publicly available bonus we’d ever seen.

This is 40,000 points higher than the normal offer and, based on TPG’s valuation of Ultimate Rewards points at 2 cents each, this works out to an extremely impressive $2,000 bonus. So, if you’re looking for a new travel credit card — and are under 5/24 — you may want to consider applying now while this bonus is still available.

But before you apply, let’s take a look at the best ways to redeem these 100,000 bonus points.

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In This Post

A whole wide World of Hyatt

Generally speaking, flights provide a much better redemption value than hotels (on paper at least). Hyatt, a 1:1 transfer partner of Chase Ultimate Rewards, is a notable exception. Whether you’re looking at the top or the bottom of Hyatt’s award chart, this is a great option for redeeming your Chase Sapphire sign-up bonus.

Category 1 hotels start at just 5,000 points a night, meaning your 100,000-point bonus will get you a full 20 nights.

(Screenshots courtesy of Hyatt.com)

It’s not uncommon for many of these Category 1 hotels to sell for over $100 a night, making this an easy way to get $2,000 or more from your bonus.

Of course, you can get a much better value by looking at the top category on the award chart. Your 100,000 points are enough for three nights at a Category 7 hotel like the Park Hyatt Paris or Park Hyatt New York. Rooms at these properties can easily start at $1,000 per night or more during peak season.

You can also opt for an all-inclusive vacation, where meals are included and you can check out with a $0 bill at the end of your stay. Hyatt’s Ziva and Zilara hotels range from 20,000-25,000 points per night. With the Sapphire Reserve’s welcome bonus, you can cover up to five nights at a property like the Hyatt Ziva Los Cabos.

Hyatt’s all-inclusive Miraval resorts provide a more elevated experience and are a bit pricier at 45,000 points per night.

Hyatt Ziva Los Cabos
Hyatt Ziva Los Cabos (Photo by Melanie Lieberman/The Points Guy)

Related: TPG’s guide to the best all-inclusive points resorts

Round-trip to Europe on united, one-way in business class

Chase has an especially close relationship with United Airlines, issuing its co-branded credit cards and offering 1:1 points transfer to United MileagePlus. 100,000 points are more than enough for a round-trip ticket to Europe — one-way in economy class and one-way in business class. Better yet, you can take advantage of United’s Excursionist perk and add a free stopover within Europe.

For example, this itinerary takes you from Newark (EWR) to Zurich (ZRH) in United economy, where you can stay for as long as you’d like. Then, you can fly to Munich (MUC) in economy, stay for as long as you’d like and fly home to Newark in United Polaris business class. Plus, you’d have 10,000 points to spare.

United award to Europe and back
(Screenshot courtesy of united.com)

United has invested heavily in retrofitting much of its long-haul fleet with its brand new proprietary Polaris business class seats. Some of its 767-300ERs, which operated many routes from the U.S. to Europe, were retrofitted with a very premium heavy configuration – a whopping 46 Polaris seats.

United 767-300 Polaris
(Photo by Benji Stawski/The Points Guy)

Double your value with the Southwest Companion Pass

Chase points transfer 1:1 to Southwest, and while that isn’t normally the best value you can squeeze out of them, the Companion Pass instantly doubles your return.

TPG values Southwest points at 1.5 cents each, and you don’t need to put in any extra work to get that value as Rapid Rewards redemptions are revenue-based. This makes 100,000 points worth $1,500 without a Companion Pass and a whopping $3,000 if you have a Companion Pass and book travel for both you and your designated Southwest companion.

Southwest flights to Hawaii are a great way to get the maximum value out of your Sapphire Preferred sign-up bonus and the Companion Pass. For example, you can often find round-trip flights from Los Angeles (LAX) to Maui (OGG) for under 30,000 points per person. This means that if you have a Companion Pass, you and your companion can take four trips to Hawaii using the points earned from the Chase Sapphire Preferred and still have points to spare.

Southwest Boeing 737
(Photo by Zach Griff/The Points Guy)

Related: How to earn Chase Ultimate Rewards points

Book $1,250 Of flights and hotels through the Chase portal

Chase Sapphire Preferred cardholders get 25% more value out of their points when redeeming them directly through the Ultimate Rewards portal. This is a helpful baseline as you know that it’s always possible to get at least 1.25 cents per point. But it also means there’s no room for you to grind out a better redemption with careful research and planning.

Still, there are plenty of times this can come in handy. If you find a good fare sale, you might end up paying fewer points than if you transferred to a partner with a fixed award chart. For example, this $420 round-trip ticket from Chicago (ORD) to London (LHR) would only cost 33,600 Ultimate Rewards points instead of 60,000 if you transferred your points to United.

Google Flights booking page for a flight from ORD to LHR
(Screenshot courtesy of google.com/flights)

Tickets booked this way also code as revenue tickets, meaning you’ll still earn miles and elite qualifying miles/dollars/segments. Be careful not to accidentally book a basic economy fare, as the Ultimate Rewards portal doesn’t always display that information clearly.

Also, note that you generally won’t earn points, elite credits or elite benefits if you book a hotel through a third-party Online Travel Agency (OTA) like the Chase portal. Still, this can be a great way to stay at boutique or non-chain hotels for fewer points by leveraging cheap cash rates.

Related: Better together: The power of the Chase Trifecta

Bottom line

The Chase Sapphire Preferred is one of the all-around best travel rewards cards on the market. If you are eligible to apply and don’t already have one, there’s no reason to wait while the 100,000 point welcome offer is around. This elevated sign-up bonus and all the amazing ways you can redeem it certainly make it worthwhile.

Featured image of Hyatt Zilara Rose Hall by Benji Stawski/The Points Guy

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