There are a lot of ways Chase Sapphire cardholders can quickly rack up Chase Ultimate Reward points, but the easiest and most lucrative one is definitely the sign-up bonus. New holders of the Chase Sapphire Reserve and Preferred cardsare currently eligible to receive 60,000 bonus points after spending $4,000 in the first three months of having the card.
After earning all those bonus points, it becomes pretty natural for cardholders to start thinking about exactly how they want to spend their points. There are a lot of different point redemption avenues for cardholders to explore, but it’simportant to remember that Chase points are not always valued equally, depending on which redemption method you choose.
If you’re trying to figure out exactly what to do with your Chase points, read on to discover the best ways to maximize your Chase Sapphire 60,000 point bonus!
1. Book Your Next Trip With Chase Travel!
Chase cardholders have access to a lot of amazing travel options thanks to the Chase Travel platform. Not only do Preferred cardholders earn 5X points and Reserve holders earn 10X points on Chase Travel purchases, but they also have the ability to use their Chase Ultimate Reward points to directly purchase flights, hotels, or car rentals. Typically, points are valued at one cent each, but Chase Sapphire cardholders who redeem their points on Chase Travel receive a hefty point value increase.
Sapphire Preferred – 25% point boost (each point is worth $.0125 rather than $.01)
Sapphire Reserve – 50% point boost (each point is worth $.015 rather than $.01)
While it might be hard to get excited about a quarter or half-a-cent increase on the surface, the boost enables you to spend fewer points on each Chase Travel booking. Thanks to this boost, cardholders can save more points to use on a future trip or to transfer over to one of Chase’s 14 travel partners.
2. Travel Partners
An even more effective way to leverage your Chase Ultimate Reward points is to transfer them to one of Chase’s travel partners. Thanks to the special relationship the travel partners have with Chase, cardholders can send their Chase Ultimate Reward points to external travel portals and receive vendor-affiliated points at a 1:1 rate. These points can then be used to make purchases directly from vendors like United Airlines and Hyatt. Depending on which travel partner you send your points to and how flexible you are with your booking, you can receive a per-point value of anywhere from 1.2 to 2.1 cents.
Chase Ultimate Rewards airline partners:
- Aer Lingus AerClub
- Air Canada Aeroplan
- Air France/KLM Flying Blue
- British Airways Executive Club
- Emirates Skywards
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United Airlines MileagePlus
- Virgin Atlantic Flying Club
Chase Ultimate Rewards hotel partners:
- IHG Rewards Club
- Marriott Bonvoy
- World of Hyatt
Points can be used to purchase everything from Business Class flights to room upgrades, but it’s important to remember to create a loyalty account with any travel partner you want to use before trying to transfer your Chase points over. This way, you already have an eligible account capable of receiving the points you are sending over from Chase.
Pro Tip: If you’re flexible with when or even where you are willing to travel, keep an eye on the price calendar of your selected transfer partner. Often, you will see deals and price drops that result in your per point value going up even more.
Remember, point transfers have to be a minimum of 1000 points. So if you are right at that 999 point mark and want to use them to offset the cost of your next vacation, make sure to go out and earn at least one more point before initiating that transfer!
3. The Worst Way to Use Your Bonus
If you went through the trouble of acquiring 60,000 Chase Ultimate Points, you might as well use them wisely. But, if you are in a pickle and want to use your points quickly rather than effectively, there are a few things you can do.
Convert points into statement credit – If you decide to convert points to help pay off some of your statement balance, you will only be receiving a value of one cent per point. For example, if you decide to redeem 10,000 reward points towards your statement credit, you are only reducing the total statement balance by $100.
Gift card purchases – Chase’s Ultimate Rewards portal includes a section where cardholders can redeem their points in exchange for gift cards from brands like Starbucks and Home Depot. Similar to using your points for statement credit, redeeming your Chase points to purchase gift cards on the Chase platform will typically only value your points at one cent each. So, a 10,000-point redemption will earn you a $100 gift card.
Occasionally, there will be gift card deals that offer a slightly better rate than the typical one-cent to one-point ratio, but if you’re actually waiting for a value, you should send your points to a transfer partner and use them for a flight or hotel.
Amazon Purchases – While it might appear handy that you can use your Chase points to directly pay for part or all of an Amazon purchase, spending your points on Amazon might be the least valuable way to use your points. Instead of the traditional $.01 per point value, Chase points are only worth $.008 during the Amazon checkout process. So instead of being able to buy $100 worth of goods with 10,000 points, you will only be able to buy $80 worth of goods.
In my mind, there is no excuse for using your points on Amazon purchases due to this reduced point value. If you really need to use your points to help cover some of your Amazon spending, make sure to go for the statement credit route so you’re at least getting that 10,000 points for $100 rate rather than losing out on $20 worth of value for no reason.
4. Final Thoughts
Chase calls their points the Ultimate Reward Points for a reason. They want them to feel like a reward!
If you went through all the trouble of spending $4,000 on your new Chase Sapphire card to earn the 60,000 bonus points, you might as well use those points to treat yourself to something sweet. Whether it’s a flight to your favorite far-off destination or a staycation at the local hotel you’ve always wanted to try, Chase points can be used to book all kinds of wonderful experiences for you and your loved ones.
No matter how much fun you plan on having, I recommend trying to get the most value out of each Chase point. If you know you have a big trip coming up, do a bit of research and compare whether it is more cost-effective to booksomething directly on Chase Travel or to transfer points to a travel partner. It might seem cumbersome at first, but after you get the hang of maximizing your Chase points, you’ll never consider turning them in for statement credit again!
