How to earn, redeem, and maximize Chase Ultimate Rewards points in 2021

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  • Chase Ultimate Rewards points are among the most valuable rewards you can earn with credit cards.
  • The best way to use points is for travel booked through Chase or by transferring to travel partners.
  • Pay Yourself Back is a way to use points to cover eligible everyday purchases at an improved rate.
  • Read Insider’s guide to the best travel rewards credit cards.

Chase Ultimate Rewards is frequently considered one of the top credit card programs available today, and for good reason. Ultimate Rewards points, which you can earn with certain Chase credit cards including the Chase Sapphire Preferred® Card, Chase Sapphire Reserve, and Ink Business Preferred Credit Card, offer some of the most generous and diverse travel redemption options you can find.

But you don’t have to redeem rewards for travel if you don’t want to. There are plenty of other ways to cash in your Chase points, including our favorite option: Pay Yourself Back.

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We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

How to earn Chase Ultimate Rewards points

Chase Sapphire Preferred® Card

Chase Chase Sapphire Preferred® CardChase Ink Business Preferred® Credit CardChase Chase Sapphire Reserve®

Annual Fee
Regular APR
Credit Score
  • A five pointed star
  • A five pointed star
  • A five pointed star
  • A five pointed star
  • 4.65 out of 5 Stars
    Editor’s Rating

    Our editor’s ratings are primarily based on 3 things: simplicity, affordability, and value.Our credit card editor takes those factors into account, and comes up with a rating to best reflect how the card performs in that criteria – relative to other products we’ve reviewed.A tooltipOur editor’s ratings are primarily based on 3 things: simplicity, affordability, and value.Our credit card editor takes those factors into account, and comes up with a rating to best reflect how the card performs in that criteria – relative to other products we’ve reviewed.Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

    Annual Fee

    $550

    Regular APR

    16.99%-23.99% Variable

    Credit Score

    Recommended credit score. Note that credit card lenders may use many different variations of credit score models when considering your application.A tooltipRecommended credit score. Note that credit card lenders may use many different variations of credit score models when considering your application.ExcellentA five pointed star

  • A five pointed star
  • A five pointed star
  • A five pointed star
  • A five pointed star
  • 4.65 out of 5 Stars
    Editor’s Rating

    Our editor’s ratings are primarily based on 3 things: simplicity, affordability, and value.Our credit card editor takes those factors into account, and comes up with a rating to best reflect how the card performs in that criteria – relative to other products we’ve reviewed.A tooltipOur editor’s ratings are primarily based on 3 things: simplicity, affordability, and value.Our credit card editor takes those factors into account, and comes up with a rating to best reflect how the card performs in that criteria – relative to other products we’ve reviewed.

    Featured Reward

    Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account openingA tooltipEarn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening60,000 pointsChevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Pros & Cons
  • Details
  • Pros
    • Annual travel credit can effectively shave $300 off the annual fee if you use it
    • Strong travel insurance
    • Strong bonus rewards on travel and dining
    Cons
    • Very high annual fee
    • The new DoorDash statement credits may not be useful for everyone, which can make the recently increased annual fee harder to justify
    • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $900 toward travel when you redeem through Chase Ultimate Rewards®
    • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. Through December 31, 2021, gas station & grocery store purchases will also count towards earning your Travel Credit
    • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants including eligible delivery services, takeout and dining out & 1 point per $1 spent on all other purchases
    • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $900 toward travel
    • With Pay Yourself Back℠, your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
    • 1:1 point transfer to leading airline and hotel loyalty programs
    • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit for Global Entry or TSA Pre✓®
    • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more

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