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10% Discount When Using Chase Ultimate Rewards Points in This Oft Undiscussed Way

  • Joseph Hostetler

    • Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full advertising policy: How we make money.

    Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.

    Last month I let you know about a Chase promotion giving folks the option to redeem Chase Ultimate Rewards points for gift cards with a 10% discount through the end of October.

    Good news for folks who enjoy redeeming points this way!  Chase is extending this promotion through November 30, 2018.  This means your Chase Ultimate Rewards points will be worth 1.1 cents per point toward gift cards (instead of just 1 cent).  And it looks like there are more gift card options this time around.

    While this is a better redemption ratio than normal for gift cards, there are much more valuable ways to redeem Chase Ultimate Rewards points.  You can book travel through the Chase Travel Portal and depending on the card you have, your Chase points will be worth more.  If you book travel through the Chase Travel Portal with the Ink Business Preferred℠ Credit Card your points are worth 1.25 cents each, or with the Chase Sapphire Reserve® your Chase points are worth 1.5 cents each.

    Or you can transfer your Chase Ultimate Rewards points to Chase’s travel partners and get even more value from your points by booking expensive hotels or airfare!

    You Could Spend 25,000 Chase Ultimate Rewards Points for a $275 Nike Gift Card – Or You Could Spend Them on a Round-Trip Transcontinental Flight to Visit San Francisco!

    Examples of qualifying gift cards are issued by merchants like:

    And lots more!  You can click this link and log into your account to take advantage of the deal.

    If you’re happy with spending your hard-earned Chase Ultimate Rewards points this way, that’s fantastic!  But just so you know, there are easy ways to get much more value for your points.

    For example, you could transfer 20,000 points to Hyatt and stay at the Park Hyatt Aviara Resort, Golf Club & Spa, which can easily cost $450+ per night.  That’s a value of ~2.25 cents per point ($450 hotel room / 20,000 points per night).

    Or you could redeem your points with the Chase Sapphire Preferred® Card or Ink Business Preferred℠ Credit Card through the Chase Ultimate Rewards Travel Portal for a plane ticket, hotel room, or car rental at 1.25 cents per point.  This is a much better deal than the 1.1 cent per point value you’ll receive by redeeming for gift cards.

    Do you like using your points for gift cards?  We’d love to hear if this is something you’d like updates for!  We want our daily newsletter to be as useful as possible.

    Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)