With all of the frenzy around Chase’s latest credit cards it is important for you to know how they work. When Brad and I were at lunch the other day with a couple of friend we started explaining how the Ultimate Rewards work, and realized that we’ve never clearly defined who the partners are and how to use the Ultimate Rewards Points. Here goes nothing…
Chase has named its loyalty program Ultimate Rewards (with good reason). Just as McDonald’s has the Ronald McDonald Club, Chase has their Ultimate Rewards. These points can be used just like any other bank will allow you to use points to redeem for headphones or pencil sharpeners, but what makes them stand out is the Ultimate Rewards travel partners.
How to Earn Ultimate Rewards
Some of Chase’s proprietary cards offer you Ultimate Rewards for every dollar that you spend on their cards. Each of the cards have a sign on bonus after you meet certain spending requirements. These bonuses can be very lucrative, and can help you to get your free travel faster. Some cards have categories that pay more than one point per dollar.
- Chase Sapphire PreferredSM Current Bonus is 40,000 UR after $3000 in spending within the first 3 months.
The Sapphire Preferred card pays 2 points per dollar spent on restaurants and travel.
- Ink Bold® Business Card Current Bonus is up to 50,000 UR. Get 25k with the first purchase and 25k more when you spend $10k within 3 months.
Both of the Ink cards will offer 5 points per dollar spent at office supply stores, and on cellular phone, landline, internet and cable TV services.
- Ink Plus® Business Card Current Bonus is up to 50,000 UR. Get 25k with the first purchase and 25k when you spend $10k within 3 months.
With the Ink Plus card you can 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
All of your Ultimate Rewards points accrue in a safe account until you are ready to splurge.
Spending Ultimate Rewards (AKA Having FUN)
Brad already explained how the Ultimate Rewards can be spent as cash, so if you’re interested, review that post. Chase has a variety of partners that accept the Ultimate Rewards on a 1:1 ratio.
- United Airlines
- British Airways
- Southwest Airlines
- Priority Club
- Korean Air
Incredibly you can transfer as many points as you need. So if you’re a few points short this works well to top off the tank with any one of the above mentioned companies. Also, the points generally transfer on the spot.
Why You Need More Ultimate Rewards
These points are incredibly versatile. They should be a part of any worldwanderluster’s portfolio of miles and points. The most feasible offer comes from the Sapphire Preferred Card. It requires the lowest spending requirement, but a generous 40,000 UR. Start stockpiling your points today and wanderlust with us.