Points currency
Chase Ultimate Rewards
Chase Ultimate Rewards is the transferable currency built around one outrageous sweet spot: Hyatt. You earn it on the Sapphire and Ink family, and you move it 1:1 to 10 airline and 4 hotel partners. Almost every partner is a clean 1:1. The one exception is Hyatt: it stays 1:1 on the Sapphire Reserve but drops to 4:3 on the Sapphire Preferred and Ink Business Preferred (existing cardholders from October 1, 2026). Hyatt is the reason most people hold UR at all, but United, Southwest, Aeroplan, and the Avios family give it real airline range too. Find the award first; transfers are instant and one-way.
Experiences
Chase Experiences — Points or cash →Sweet spots
Where your points punch above their weight.
Where this currency genuinely shines.
Show me the picks →
Sweet spots
Where your points punch above their weight.
Where this currency genuinely shines.
- Hyatt - the crown jewel; top Park Hyatt and Alila resorts that cost 600 dollars-plus a night go for 35k to 45k points. Nothing else in the transferable world touches it. Transfers are 1:1 from the Sapphire Reserve; the Sapphire Preferred and Ink Business Preferred moved to 4:3.
- Air Canada Aeroplan (1:1) - free stopover, no fuel surcharges on many partners, strong Star Alliance business-class pricing.
- British Airways / Avios (1:1) - short-haul off-peak from the US East Coast to Europe and within regions for very few points.
- Virgin Atlantic (1:1) - ANA first class and Delta One sweet spots when award space appears.
- Southwest (1:1) - no change fees, no award-chart games, and the Companion Pass stretches points further.
Transfer out
14 places to send these points. Where the currency goes.
14 programs this transfers out to.
Meet the partners →
Transfer out
14 places to send these points. Where the currency goes.
14 programs this transfers out to.
Chase Ultimate Rewards transfers points or miles OUT to these programs.
| To | Ratio | Notes |
|---|---|---|
| 1:1 | 1,000 UR = 1,000 Avios (AerClub) | |
| 1:1 | 1,000 UR = 1,000 Aeroplan points (Air Canada) | |
| 1:1 | 1,000 UR = 1,000 Avios (The British Airways Club) | |
| 1:1 | 1,000 UR = 1,000 Flying Blue miles (Air France-KLM). | |
| 1:1 | 1,000 UR = 1,000 Avios (Iberia Club) | |
| 1:1 | 1,000 UR = 1,000 TrueBlue points | |
| 1:1 | 1,000 UR = 1,000 KrisFlyer miles (Singapore Airlines) | |
| 1:1 | 1,000 UR = 1,000 Rapid Rewards points. | |
| 1:1 | 1,000 UR = 1,000 MileagePlus miles | |
| 1:1 | 1,000 UR = 1,000 Virgin Points (base 1:1). Best for ANA and Delta One sweet spots; only transfer with a redemption in mind. | |
reserve1:1 preferred4:3 | Sapphire Reserve keeps 1:1; Sapphire Preferred and Ink Business Preferred moved to 4:3 (new applicants now, existing cardholders from Oct 1, 2026). | |
| 1:1 | 1,000 UR = 1,000 IHG One Rewards points | |
| 1:1 | 1,000 UR = 1,000 Marriott Bonvoy points. | |
| 1:1 | 1,000 UR = 1,000 Wyndham Rewards points. New partner as of 2026. |
How to spend
The high-leverage moves. Read this before you transfer a single mile.
The smart-money plays.
Get the playbook →
How to spend
The high-leverage moves. Read this before you transfer a single mile.
The smart-money plays.
- Transfer to Hyatt - the single best use of the currency (see sweet spots).
- Transfer to airline partners for premium-cabin awards (Aeroplan, Flying Blue, Avios, Virgin Atlantic).
- Book travel through Chase Travel with your points.
- Cash back and gift cards at 1 cent - a fine floor, but you leave value on the table versus transfers.
Tips & quirks
Stopover rules, surcharges, the stuff nobody tells you until you've been burned once.
The fine print, decoded.
Spill the gotchas →
Tips & quirks
Stopover rules, surcharges, the stuff nobody tells you until you've been burned once.
The fine print, decoded.
- Almost every partner is 1:1. The one exception is Hyatt, which is 1:1 on the Sapphire Reserve but 4:3 on the Sapphire Preferred and Ink Business Preferred (existing cardholders from October 1, 2026).
- You must hold a card that earns transferable points (Sapphire Preferred/Reserve or an Ink business card) to move points to partners; Freedom-only points must first be combined into a premium-card account.
- Transfers are instant for nearly all partners and one-way / final.
- Points can be pooled with one household member - handy for topping up an award.
- No transfer fees or taxes on any partner.
Cards that earn into Chase Ultimate Rewards
Cards that earn Chase Ultimate Rewards directly, or that transfer into it from a flexible-currency program.
Frequently asked questions
- What can I transfer Chase Ultimate Rewards points to? Airline and hotel partners at 1:1, including United, Southwest, Air Canada Aeroplan, British Airways Avios, Virgin Atlantic, World of Hyatt, Marriott Bonvoy, and IHG. The one exception is Hyatt from the Sapphire Preferred and Ink Business Preferred, which moved to 4:3 for existing cardholders on October 1, 2026 (the Sapphire Reserve stays 1:1).
- What is the best use of Chase Ultimate Rewards points? World of Hyatt. Top Park Hyatt and Alila resorts often price at 35,000 to 45,000 points a night, and nothing else in the transferable-points world matches that. Transfers are 1:1 from the Sapphire Reserve.
- Which airline partners are the best sweet spots for Chase points? Air Canada Aeroplan (free stopovers and strong Star Alliance business-class pricing), British Airways Avios (short-haul off-peak flights), Virgin Atlantic (ANA First and Delta One when space appears), and Southwest (no change fees or award-chart games).
- Do I need a specific Chase card to transfer points to partners? Yes. You must hold a card that earns transferable points (Sapphire Preferred, Sapphire Reserve, or an Ink business card). Points earned on a Freedom card must first be combined into one of those premium accounts.
- Are there fees to transfer Chase points? No. There are no transfer fees or taxes on any partner, and transfers are instant and one-way. You can also pool points with one household member to top up an award.
- Do Chase Ultimate Rewards points expire? No, not while your card account is open. If you close the card you lose any points still on it, so move them to another open Chase card first.
Alerts
Check Chase My Bonus for a Targeted Q4 Spending Offer
Reported Q4 spending offers from Chase My Bonus cover purchases from October 1 through December 31. They are targeted and need activation, so check your own offers at chase.com/mybonus.
Sapphire Reserve Cardholders May See Anniversary Chase Offers
Sapphire Reserve cardholders can activate Chase Offers for Miraval and Alila, JSX, SIXT and Wander, then pay the partner directly by December 14, 2026. Offers vary by account, so check which ones show in yours.
Chase Sapphire Reserve for Business: The Edit credit doubles to $1,000 in 2027
Chase is doubling The Edit credit on the Sapphire Reserve for Business to $1,000 a year from January 1, 2027, paid as four credits of up to $250 on prepaid Chase Travel luxury stays. It lands on the business card only.
Chase Freedom Flex Bonus Rises to $250, Up From $200
Chase raised the Freedom Flex welcome bonus to $250 after $500 in spend in the first three months, up from its standard $200. No annual fee, and a limited time offer.
Some sole proprietors report a new Chase 3/24 approval cutoff
Since mid-September, some sole proprietors say Chase is denying business card applications at 3/24 rather than the usual 5/24. It is not confirmed, and there is no indication the personal-card 5/24 rule has changed.
Chase Freedom's Q4 5% Categories: Groceries, Dining, and Red Cross Donations
The Chase Freedom and Freedom Flex earn 5% back, or 5x points on the Flex, on groceries, dining, and American Red Cross donations from October through December 2026, on up to $1,500 in combined spend. Walmart and Target do not count, and you have to activate by December 14. Pair Freedom with a Sapphire or Ink card and those points can transfer to Chase travel partners.
Chase Sapphire Reserve for Business Welcome Offer Is Back at 200,000 Points
The Chase Sapphire Reserve for Business is offering 200,000 points after $30,000 of spend in the first six months, up from its usual 150,000. It carries a $795 annual fee and is open only to people who have never held the card.
Chase Now Lets You Invest Your Ultimate Rewards Points
Eligible Freedom, Ink, and Sapphire cardmembers can now cash Ultimate Rewards points into a J.P. Morgan investing account, right inside the Chase app. It is handy, but for most people transferring points to travel partners still stretches them further.
Chase Sapphire Lounges Drop Priority Pass Aug 15 - Good News If You Hold the Reserve
Starting August 15, 2026, Chase Sapphire Lounges leave the Priority Pass and LoungeKey networks. Sapphire Reserve cardholders keep full access and gain more pre-flight time; Priority Pass holders from other cards lose entry.
Dinner and a Show, Up to $150 Each Every Half Year on Sapphire Reserve
Sapphire Reserve personal cardholders get up to $150 in dining credits and up to $150 in StubHub and viagogo credits every half year, up to $300 each per year.
Your Chase Card Could Earn 10x Bonus Points at Paze Checkout Through December 31
Pay with Paze on a Chase card that has the 10x offer and you can earn 10x bonus points on top of the card's normal points, on up to $1,500 in purchases a month per card, through December 31, 2026. Check your Chase app to see which of your cards have it.
Last reviewed: July 2026
Loyalty programs change rules, fees, transfer ratios, and award pricing all the time — sometimes without warning. We do our best to keep these pages current, but the program's own site is always the final word. Always confirm specifics directly with Chase Ultimate Rewards before transferring miles or booking an award. Treat anything on this page as a starting point, not a guarantee. Crazy4Points is not responsible for actions taken based on information here — see our Terms of Service for full details.