It’s a Trap! AVOID This Chase Ultimate Rewards Points “Deal”

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It’s a Trap! AVOID This Chase Ultimate Rewards Points “Deal”

Scott LiebermanIt’s a Trap! AVOID This Chase Ultimate Rewards Points “Deal”Million Mile Secrets Team

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Chase Ultimate Rewards points are my favorite travel points.  I’ve used these super valuable points for Business Class flights to Europe, luxury hotel stays in the Caribbean, and more!  That’s why I must warn you to stay FAR away from this Chase Ultimate Rewards points deal — especially during the holiday season.

When you have the

Ink Business Preferred Credit Card (#1 business credit card)

or

Chase Sapphire Preferred® Card like I do (the best card for folks new to using points instead of money for travel)

your Chase Ultimate Rewards points are worth 1.25 cents each for just about any flight you want with no blackout dates. (Chase Sapphire Reserve® points are worth 1.5 cents.)  Or you can get even much more value by transferring your Chase Ultimate Rewards points to partners with any of those 3 credit cards.

For instance, I got ~2.5 cents per point when I moved my Chase points into the Hyatt loyalty program to stay at the awesome Hyatt Zilara all-inclusive on the beach in Cancun.

I Flipped My Chase Ultimate Rewards Points Into Hyatt Points.  And I Took This Photo From the Balcony of My Suite at the Hyatt Zilara Cancun.  Inside the Room I Had a Jacuzzi That Looked Out This Same Way, a Huge Comfy Bed, and Bottles of Liquor Included.

And I got ~5.7 cents per point when I moved my Chase Ultimate Rewards points into the United Airlines loyalty program to book round-trip Business Class flights to Europe last summer.  I got to sip name-brand cocktails with a proper 3-course meal until I fell asleep in a bed while flying over the Atlantic Ocean.

I Flew in Business Class bed to Europe using Chase points from my Chase Sapphire Preferred credit card
With Chase Ultimate Rewards Points I Flew Business Class to Europe and Back

Now, even if you don’t want to travel, your Chase Ultimate Rewards points are worth 1 cent each for cash back.  So if you want money and you earned the 80,000 Chase Ultimate Rewards points from the Ink Business Preferred Credit Card intro bonus after hitting the spending threshold, you’d get $800.

The Chase Ultimate Rewards Points Deal on Amazon — Avoid

So I feel obligated to rally against what Amazon is trying to get you to do with Chase Ultimate Rewards points!

I don’t even have my Chase Ultimate Rewards points connected to Amazon for this reason.  So I asked team member Meghan to check the current value.  She says her 588,523 Chase Ultimate Rewards points show up as being worth $4,708.18 on Amazon.  That’s 0.8 cents.  Less than a penny each!!  (Meghan’s earned lots of points using her Ink Business Preferred Credit Card to grow her vacation rental business.)

Am I preaching to the choir here?  Well, if YOU know better already, please pass this along to your friends who DON’T know!  Meghan told me her own sister asked her if she could use Meghan’s Chase Ultimate Rewards points to buy $75 worth of Christmas gifts on Amazon.

After the steam stopped blasting out of Meghan’s ears, she calmly informed her sister that she’d disown her if she touched her collection of Chase Ultimate Rewards points to use them that way.

Amazon Is Tricking People Out of Their Chase Ultimate Rewards Points With This Deal That Values Chase Points at an Awful 0.8 Cents Each.  It’s Possible to Use Your Points to Get 10X That for Flights or Hotels.  Or at Least Get 1 Cent Each for Cash Back.

Do NOT use your Chase Ultimate Rewards points for anything less than 1 cent per point.  Why?  Because you can just buy the thing with your Chase Sapphire Preferred® CardInk Business Preferred Credit Card, etc., to EARN Chase Ultimate Rewards points and then use your stash of points for a statement credit or cash back.  Remember you get 1 cent per point that way.

Whether you get 1 cent per point for cash back or wait until you can get 8 cents per point is totally your prerogative.  But please do not do anything where you get less than 1 cent per Chase point, like with this Amazon offer that shows up in your check-out cart.

And please pass this along to someone who needs to see this during gift-buying season!

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Ink Business Preferred℠ Credit Card

Ink Business Preferred℠ Credit Card

  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee

More Info

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! :)

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I’m not exactly sure what Chase Amazon deal you are talking about because you don’t actually describe it, but I was able to redeem a single Chase UR point to get $15 off a recent Amazon purchase. I completely agree with you that you typically should not redeem Chase UR points for purchases on Amazon but I don’t think you should discourage people from getting $15 of value from a single Chase UR point.

Don’t take this the wrong way, but the Hyatt Zilara Cancun is routinely available for $200 to $250 through third party booking sites. (TripAdvisor or Hotelscombined can get you to the cheapest one.) Competition among the Cancun hotels is pretty fierce so lots of capacity is made available to consolidators who can offer much better rates than Hyatt is willing to offer through its own website. Unfortunately Hyatt refuses to price match the sites but I have never had a problem with any of them. I have always paid the cash rates in Cancun because it’s just not worth spending 25k points per night with such low cash rates.