If You Have the Chase Sapphire Reserve, There’s No Reason to EVER Transfer Your Points to These Airlines

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INSIDER SECRET: Southwest flights don’t appear when you search on the Chase Travel Portal. But you can still book Southwest flights with Chase Ultimate Rewards points by calling Chase Travel at (866) 951-6592.

Let’s start with some basic travel truths:

• Southwest points are worth ~1.5 cents each toward travel on Southwest
• JetBlue points are worth ~1.4 cents each toward travel on JetBlue

Both of these airlines don’t have any kind of award chart. Instead, they base their award prices off the cash price of your ticket. So, for example, if you find a Southwest flight that costs $200, you can expect the ticket to cost ~13,333 Southwest points ($200 cash price / 1.5 cents per point).

Another helpful tidbit about these two airlines is that they’re both Chase Ultimate Rewards points transfer partners. Great news, yeah?For most people. But I’ll show you why if you have the Chase Sapphire Reserve®, you should never ever transfer your points to these airlines.

Why Chase Sapphire Reserve Cardholders Lose by Transferring Points to Southwest or JetBlue

Here’s something you should know if you’re a collector of Chase Ultimate Rewards points (like nearly every miles and points enthusiast on earth). You can cash in those points through the Chase Travel Portal for travel. Here are the rates:

• Chase Sapphire Preferred® Card – 1.25 cents per point toward travel
• Ink Business Preferred Credit Card – 1.25 cents per point toward travel
• Chase Sapphire Reserve – 1.5 cents per point toward travel

That’s right, the value of your Chase Ultimate Rewards points depends on which cards you have.

EXAMPLE: If you want to purchase a $300 flight through the Chase Portal, it’ll cost Chase Sapphire Preferred cardholders 24,000 points ($300 flight/1.25 cents per point). But the same flight will cost Chase Sapphire Reserve cardholders just 20,000 points ($300 flight/1.5 cents per point).

Because the Chase Sapphire Reserve increases the value of all your Chase points to 1.5 cents, it’s easy to see why it’s a bad idea to transfer points to Southwest and JetBlue.

• JetBlue points are worth up to 1.4 cents each (though they can be worth less). So by using Chase Ultimate Rewards points to buy JetBlue flights, Chase Sapphire Reserve cardholders will get at least 0.1 cents more value
• Southwest points value varies a little, but you’ll receive ~1.5 cents on average, so you’ll get about the same value through the Chase Portal as if you had transferred points to Southwest (though it’s possible to receive a higher value).

Another Important Factor: Earning Points for Your Flight

Here’s how it is possible to receive a value even higher than 1.5 cents per point with Southwest points.

EXAMPLE:I can book a flight from Cincinnati to LaGuardia for $122 in cash. I can either:

• Transfer Chase points to Southwest and book the same flight for 7,184 Southwest points + $5.60 in taxes (a value of ~1.6 cents per point)
• Book through Chase and pay 8,134 Chase Ultimate Rewards points (a value of 1.5 cents per point)

Receiving 1.6 cents per Southwest point is better than receiving 1.5 cents per Chase point, so you may think transferring miles is a no-brainer. But don’t forget that when you use your Chase points to buy flights, you’ll earn points for your flights. Plus, you still have to pay taxes and fees for your award flight.

For this particular flight, you’ll earn 553 Southwest points when you redeem your points through Chase. That gives booking through Chase a slight advantage. Plus, when you purchase airfare, it’ll help you qualify for elite status.

Bottom Line

If you have the Chase Sapphire Reserve, you’re better off using your points to book Southwest and JetBlue flights through the Chase Travel Portal. You’ll almost always get more value for your points this way. Plus, you’ll earn points for your flight. That’s not the case when you book an award flight.

One minor exception would be if you have nearly the amount of Southwest or JetBlue points needed for a free flight, and you’re using your Chase Ultimate Rewards points to top off your account.

Let me know if you’re a Chase Sapphire Reserve cardholder who transfers points to Southwest or JetBlue, and if you think I’m wrong. And subscribe to our newsletter for more travel advice like this in the future.

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Chase Sapphire Reserve®

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Chase Sapphire Reserve®

• Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 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. From 6/1/20 through 6/30/21, 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, 50,000 points are worth $750 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 1,000+ 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✓®

• Earn 3x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services

Intro APR on purchases

N/A

Regular APR

16.99%-23.99% Variable

Annual Fee

$550

Balance Transfer Fee

Either $5 or 5% of the amount of each balance transfer, whichever is greater

Rates & Fees

Annual Fee $550

Other

Credit Needed Excellent

Issuer Chase

Card Type Visa

MORE INFO