What’s the best way to use your Chase Ultimate Rewards points in 2022? Where can you get the most value? What are the conversion rates for different redemption? And how can you rack up points as quickly as possible? Here’s everything you need to know about making the most of your Ultimate Rewards points this year. [This article was first published on The Simple Dollar in 2020. It was updated in June 2022.] Also: The most exclusive credit cards And while it may seem strange that the company’s premium travel card offers a smaller introductory offer, there’s a bigger benefit with the card. Any points redeemed by Chase Sapphire Reserve cardholders are worth 50% more when redeemed through Chase Ultimate Rewards, meaning 60,000 bonus points when you spend at least $4,000 in the first three months is actually worth $900. Chase Sapphire Preferred Card cardholders enjoy a 25% bonus with all travel points redemptions through Chase. It’s also possible to earn extra points by referring friends to apply for the Chase Sapphire and Chase Preferred cards. For every friend that’s approved, you get 15,000 bonus points and up to 75,000 points per year. It’s also worth keeping an eye on gift card offers on the Chase Ultimate Rewards website. While typical redemption values here are one cent per point, Chase occasionally offers better point conversion rates for specific retailers. Also: The best Chase business credit cards Unique experiences – such as sporting events, concerts, dining events, and film festivals – are also a great way to spend your Chase Ultimate Rewards points. However, it’s worth doing some research online to make sure the points you’re spending are worth it. While you can use the Chase’s online shopping portal for various cash back rewards, you can also take advantage of these transfer benefits. Although some transfers may take up to two days, it’s well worth the wait (and most of them go through almost immediately). While there’s no exact science to the way you spend your Chase Ultimate Rewards points, some options offer more value than others. Through the Chase Ultimate Rewards portal, booking travel has the largest redemption rate, especially when paired with a 25% or 50% redemption boost.  Turning points into cashback or statement credit is also worthwhile, and you can often find good deals on gift cards through the Chase Ultimate Rewards website. But transferring points to Chase’s travel partners can yield the greatest value. Meanwhile, the convenience of applying points at checkout is beneficial when it comes to online shopping, but the value doesn’t compare to other redemption options.

Open your Chase account and log in. Click “Redeem rewards” located in the Ultimate Rewards® box on the right. Chase will ask you which card you’d like to redeem points on (provided you have more than one card). Choose from their Ultimate Rewards® dashboard.