I’ve had a couple of long days at work, so I haven’t had time to post. However, I am still keeping tabs on my blogs 🙂 Mommy Points wrote a through primer post about the Chase Ultimate Rewards Program. Acknowledgements to her for creating this resource for us all. I’ll summarize the main points below:
- Ultimate Rewards points are the points earned by certain Chase credit cards. These points can be redeemed for gift cards, merchandise, or travel at a value of about $.01 per point (more on certain things, less on certain things). However, the maximal value of these points lies in their ability to be transferred at a 1:1 ratio into Continenal OnePass/United Mileage Plus, British Airways, Korean Air, Amtrak, Hyatt, Marriott, and Priority Club miles/points. The best values in that list are generally considered to be transfers to United or Hyatt…but it’s nice to have the flexibility of transferring to any of those programs, depending on your particular needs at a given time. Transfers are instant into the award program of your choice.
- The cards that earn Ultimate Rewards points are the Chase Sapphire Preferred, Chase Ink Bold (business card), and the Chase Freedom. Get one of these cards! I have links for the Chase Sapphire Preferred on the Credit Card Offers page.
- The Chase Sapphire Preferred and Ink Bold both currently offer a 50k Ultimate Rewards points sign-up bonus, while the Chase Freedom offers a 30k bonus. The Chase Sapphire Preferred earns 2 points per dollar on dining and travel (their definition of travel is very broad, including but not limited to airlines, hotels, rental cars, taxis, buses, and subways). The Ink Bold earns five points per dollar at office supply stores, on cable and wireless service, and landline communications. It also earns 2 points on hotel and gas expenses. The Chase Freedom has quarterly rotating 5x points categories (limited to $1500). On all other purchases, these cards earn 1 point per $.
- When buying stuff online, check if the store you’re buying from is on the Ultimate Rewards Mall. if it is, you can generally earn an extra 2 to 20 points per dollar by using the Ultimate Reward Mall’s link.
- Do click on the link above to Mommy Points’ post and read it through when you have a chance!