ULTIMATE REWARDS POINTS 101 – Part 1
FEATURED READER QUESTION: “While I understand the miles I get using my United Explorer card, Hawaiian Visa, SPG card, Hilton, etc. (I just use each for the brand), I don’t really understand, AKA don’t feel comfortable since I don’t understand, How Ultimate Rewards points are used. Could you perhaps dedicate a posting to explaining this?”
So here you go!
WHAT ARE ULTIMATE REWARDS POINTS
Ultimate Rewards points are earned from various Chase credit cards. The Ultimate Rewards program is Chase Bank’s premier rewards program and a highly valued program in the miles and points world. I believe this program came out two years ago and was really promoted with the launch of the Chase Sapphire Preferred card. You can earn Ultimate Rewards points from several Chase cards. I have listed the cards and the current signup bonuses below.
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10,000 points |
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45,000 points |
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50,000 points |
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25,000 points |
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50,000 points |
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$250 Cash (25,000 points) |
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$200 Cash (20,000 points) |
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$200 Cash (20,000 points) |
WHAT YOU GET & WHAT YOU CAN EARN
- Earn 10,000 bonus points after you spend $500 in the first 3 months – that’s $100 toward travel!
- 2 points per dollar spent at restaurants & 1 point per dollar spent on all other purchases.
- Points never expire and there are no limits on how many points you can earn
- Redeem points for travel, gift cards, merchandise, cash back and more
- Direct access to expert service advisors anytime
- No annual fee!
- Earn 40,000 bonus points after you spend $3,000 in the first 3 months – that’s $500 toward travel rewards!
- 2 points per dollar spent on travel and dining at restaurants & 1 point per dollar spent on all other purchases
- Get 20% off airfare, hotels, car rentals and cruises when you redeem through Ultimate RewardsSM
- No foreign transaction fees
- Receive a 7% Annual Points Dividend on all new points earned on purchases – even on points already redeemed
- 1:1 point transfer to participating frequent travel programs
- Direct access to expert service advisors anytime
- Introductory Annual Fee of $0 the first year, then $95
- Earn up to 50,000 bonus points – 25,000 after your first purchase, plus an additional 25,000 after you spend $10,000 in the first 3 months
- That’s $625 in travel when you redeem through Ultimate Rewards
- No interest charges because it’s a pay in full charge card with a flexible spending limit
- Earn up to 5X points per dollar on eligible business purchases, and points do not expire
- 20% off travel redemptions – with no restrictions or blackout dates
- Transfer points at full value to participating travel programs
- Direct access to a live service advisor anytime
- Introductory Offer – First Year Free ($95 thereafter)
- Up to 25,000 bonus points – 10,000 bonus points after your first purchase, plus an additional 15,000 bonus points after you spend $5,000 in the first 3 months!
- 5X points per dollar on the first $25,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services
- 2X points per dollar on the first $25,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel
- 1 point per dollar on all other card purchases with no limit on the amount you can earn
- Cash back rewards do not expire
- 0% Introductory APR for 6 months on purchases and balance transfers
- No Annual Fee
- 25,000 bonus points after your first purchase – that’s $250 in rewards; 25,000 additional bonus points after you spend $10,000 in the first 3 months- points do not expire
- With Ink Plus, you have the cash flow flexibility with the choice to pay over time or pay in full
- Earn 5x points per $1 on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet and cable TV services
- Earn 2x points per $1 on the first $50,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel
- No Foreign Transaction Fees
- Free Employee Cards
- Transfer points you’ve earned to participating frequent travel programs 1:1 at a value
- Save with a 0% Intro for 6 months on purchases and balance transfers
- Up to $250 cash back bonus – $100 cash back bonus after your first purchase, plus an additional $150 after you spend $5,000 within 3 months!
- 5% cash back on the first $25,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services
- 2% cash back on the first $25,000 spent annually at gas stations and restaurants
- 1% cash back on all other card purchases with no limit to the amount you can earn
- 0% Introductory APR for 6 months on purchases and balance transfers
- No Annual Fee
- Earn $100 Bonus Cash Back after you make $500 in purchases in your first 3 months
- 0% Intro APR for 15 months on purchases and balance transfers
- 5% Cash Back on up to $1,500 spent between Oct 1 and Dec 31, 2012 at hotels, airlines (on rooms and tickets purchased directly with the hotel/airline), Best Buy® and Kohl’s®
- You’ll enjoy new 5% categories every 3 months like gas stations, restaurants and more. It’s free and easy to activate your bonus each quarter!
- Unlimited 1% Cash Back on all other purchases
- No annual fee and rewards never expire
- Earn $100 Bonus Cash Back after you make $500 in purchases in your first 3 months
- 0% Intro APR for 15 months on purchases and balance transfers
- 5% Cash Back on up to $1,500 spent between Oct 1 and Dec 31, 2012 at hotels, airlines (on rooms and tickets purchased directly with the hotel/airline), Best Buy® and Kohl’s®
- You’ll enjoy new 5% categories every 3 months like gas stations, restaurants and more. It’s free and easy to activate your bonus each quarter!
- Unlimited 1% Cash Back on all other purchases
- Up to an additional 10% Cash Back when you shop online at select merchants through Chase.
- No annual fee and rewards never expire
HOW YOU CAN USE ULTIMATE REWARDS POINTS
You can use Ultimate Rewards points for just about anything you could possibly need to buy or purchase. The sky is the limit! This is what makes the program so very powerful and highly valued in the miles and points world. You can redeem your points for merchandise, travel, gift cards, and experiences or pay yourself back via check or direct deposit starting at $20 for 2,000 points.
CASH BACK
Use your points to pay yourself. I did this once for some travel expenses. I redeemed 100,000 points for a $1,000 check.
Or you can use your points for a credit on your card for any purchase with your Chase card in the last 60 days.
WHAT TO DO:
- Sign in to your Chase account. Click on “Go to Ultimate Rewards” in the right hand corner.
Now you will be logged into your Ultimate Rewards account. Here is where you control and manage what you want to do with your Ultimate Rewards points.
- Click on “Cash Back” – Get Cash. From here you can choose to have a check mailed to you for the amount you’d like. Remember you can start at only 2,000 points for a $20 credit, check or direct deposit.
Deposit to Chase Bank Account
If you have chosen to have cash deposited into your Chase Account, the deposit will usually be made within 2-3 business days.
Paper Checks
Gift cards and paper checks are generally processed within 1-3 business days. With Free Standard Shipping, your items should arrive within 5-7 business days after processing.
Select Rush Shipping, available for a flat rate of $10, to receive items within 1-2 business days after processing. (Please note: Paper Check orders will arrive in a grey envelope with “Rewards Document Enclosed” on the front.)
Statement Credit
If you have chosen to have a statement credit applied to your Chase credit card account, the credit will usually be made within 2-3 business days.
- Click on “Pay yourself back”. Enter your purchase date and amount you want credited with your points.
The minimum amount that can be redeemed is $20 or 2,000 points. Credits take 2-3 business days to be posted to your account. Credits cannot be canceled or returned once placed. They are also not applied towards your minimum payment.
BOOK TRAVEL
You can book travel online through the Ultimate Rewards site with no blackout dates or restrictions. You can book flights, hotels, rental cards, cruises, activities, and special deals. You can choose to either pay with your Chase card and earn points or pay with your points.
- Click on “Travel” – Flights, Hotel, Rental Cars from the top bar
CONTINUE TO – UTLIMATE REWARDS POINTS 101 – Part 2
Hi Faith, do you know if the points earned from Chase Ink Cash can be transferred to UR points instead of cash back?
@Lucy- Yes you do earn Ultimate Reward points from the Ink Cash and those points can be combined like I described with your other Ultimate Rewards earning cards. This is such a great feature of the program.
Thank you for the chase credit card break down! Really appreciate it!!!
@Sandy – You are welcome! So glad it was helpful for you!!
How do you transfer the points to get airline miles or hotel points, and is this a good deal? Do the points transfer on a 1/1 basis?
@Len – You can see how to transfer points in the part 2 of this segment here: http://milesmomma.com/ultimate-rewards-points-101-part-2. Yes they do transfer at a 1:1 ratio. This feature in my opinion is the best part of Ultimate Rewards points.
Do hotel points transfer well to airline miles? Is there a site where I can see all the transfer ratios?
Chase’s has a Ultimate Rewards demo site here: http://demo.chase.com/presents/preview/loyalty/rewardshome.html but unfortunately it does not show the option to transfer points on this site which is odd. There is no where I know that non-members can see this info. Seems odd to me. Everything does transfer 1:1 ratio in increments of 1,000. I will post some pics above in the “Transfer” section of this post (Ultimate Rewards Points 101- Part 2) from my account for your reference.
#2: Each hotel program has different transfer policies. Go here for helpful tools http://milesmomma.com/converting-trading-selling/. Email me directly if you still need help. I’d be happy to help you.