Chase Ultimate Rewards is the most flexible points currency in the game. Which also means there are more ways to use it badly.
Here's every redemption option, ranked from worst to best — with real numbers.
Tier 4: Avoid These (Under 1.0 cpp)
Gift Cards — 1.0 cpp max, usually less
Chase offers gift cards through the UR portal. The rate is typically 1.0 cpp or slightly below. Never use transferrable points for gift cards. Cash back is better, and your Chase Flex or Unlimited already earns cashback more efficiently.
Chase Pay Yourself Back (most categories) — 1.0 cpp
Pay Yourself Back lets you "erase" recent purchases. Usually 1.0 cpp. Fine for a no-interest cash equivalent, but no better than that. One exception: Sapphire Reserve holders get 1.5 cpp for specific categories (was 1.5x for all travel, periodically elevated for other categories — check current Chase offers).
Tier 3: OK in a Pinch (1.0–1.5 cpp)
Chase Travel Portal (CSP) — 1.25 cpp
Sapphire Preferred holders get 1.25 cents per point when booking through Chase Travel. That's a slight premium over cashback, and it does apply to flights, hotels, and rental cars. Not bad. But not good enough to stop building transfer knowledge.
Chase Travel Portal (CSR) — 1.5 cpp
Sapphire Reserve holders get 1.5 cpp in the Chase Travel portal. This is genuinely decent for flights where cash prices are low and transfer partner value isn't much higher. Still not the sweet spot, but acceptable.
Tier 2: Good Redemptions (1.5–2.5 cpp)
United MileagePlus — 1.5–2.5 cpp for economy
Transfer Chase UR → United at 1:1 for domestic or transatlantic economy flights. A standard economy seat between New York and London can price at 30,000 United miles — if you're getting a seat that costs $450 cash, that's 1.5 cpp. International economy redemptions tend to come in at 1.5–2.0 cpp regularly.
Best use: Saver awards on United-operated flights (not partner awards, which are priced higher). Short international economy routes.
British Airways Avios — 1.5–3.0 cpp for short-haul domestic
Avios prices by distance. On AA flights under 500 miles (not booked through AA's own program), Avios rates can be as low as 7,500 one-way. A $150 short-haul on American Airlines booked with 7,500 Avios = 2.0 cpp.
Best use: Short American Airlines domestic routes (under 500 miles). Transatlantic to Madrid via Iberia.
Aeroplan — 2.0–3.0 cpp for business class
Air Canada Aeroplan doesn't charge fuel surcharges on most awards. Books Star Alliance partners including United, Lufthansa, Singapore Airlines. Business class to Europe through Aeroplan: ~70,000 miles one way. If that seat goes for $3,500+ cash, you're at 5.0 cpp — but realistic target is 2.0–3.0 cpp on mixed-availability routes.
Best use: Star Alliance business class to Europe or Asia. No fuel surcharges = more value retained.
Tier 1: The Sweet Spots (2.5 cpp and above)
World of Hyatt — 2.5–4.0 cpp
This is it. The best use of Chase UR points.
Hyatt still uses a fixed award chart. Categories 6–7 earn 2.5–4.0 cpp consistently against cash rates.
The examples:
- Park Hyatt Milan (Category 7): 30,000 points/night. Cash: $800–1,200. Value: 2.7–4.0 cpp
- Andaz Maui at Wailea (Category 6): 25,000 points/night. Cash: $700–1,200. Value: 2.8–4.8 cpp
- Park Hyatt Tokyo (Category 7): 30,000 points/night. Cash: $700–1,000. Value: 2.3–3.3 cpp
Transfers from Chase UR → Hyatt are 1:1 and instant. Hyatt award availability on most of its top properties is generally good. No points-per-night devaluation risk in the near term (fixed chart is the moat).
This is where to focus. If you have Chase UR and a trip anywhere near a Category 6+ Hyatt, transfer here.
🔗 Find your Hyatt sweet spot → Points Valuation
Singapore Airlines KrisFlyer — 3.0–5.0 cpp for Suites
Singapore Suites is the best first class product in the world by most measures. Awards price at ~92,500 KrisFlyer miles for a round-trip in First Class (Suites) from the US East Coast. If that seat runs $15,000+ cash, you're at 8+ cpp. Realistically, Singapore Suites availability is hard to find and requires significant planning.
Best use: Singapore Airlines Suites Class if you can find availability. Singapore Business Class (Business Class on most routes) at lower points cost is a more practical sweet spot: ~50,000 miles one way for ~$3,000+ cash seats = 6.0 cpp.
Virgin Atlantic Flying Club → ANA — 3.0–5.0 cpp for Japan business class
Transfer Chase UR → Virgin Atlantic Flying Club, then book ANA business class (The Room) to Japan. ~60,000 Virgin Atlantic miles one-way from the West Coast in ANA business class, against $4,000–6,000+ cash fares. Consistent 5–8 cpp range on the best routes.
The full path: Chase UR → Virgin Atlantic → ANA business class.
Best use: ANA business class to Japan/Asia. One of the best premium cabin products in the world.
The Decision Framework
1. Are you booking a Park Hyatt or Andaz hotel? → Transfer to Hyatt. Done.
2. Are you booking Japan/Asia business class? → Transfer to Virgin Atlantic or United (for ANA/Singapore), or Aeroplan for Star Alliance.
3. Are you booking transatlantic economy? → Transfer to United or Aeroplan.
4. Everything else? → Use Chase Travel at 1.25–1.5 cpp as a floor, but look for a partner transfer first.
Never: gift cards, cash back at 1.0 cpp, or subpar hotel transfers (Marriott takes a 3:1 penalty hit from UR via Marriott — avoid).
The One Move to Make Right Now
If you're sitting on Chase UR points and don't have a trip planned:
1. Check your nearest Park Hyatt or Andaz property
2. Look at one-year-out availability
3. See what 25,000–35,000 points would get you on that date
4. Build backward from that trip
Points with a destination are points that get used.
🔗 What are your UR points worth right now? → Points Valuation
🔗 Check transfer bonuses before you move → Transfer Bonus Alerts
🔗 Compare all Chase transfer partners → Card Comparison
— Austin 🤌