I've had all three of Chase's main Ultimate Rewards-earning credit cards - here's how I rank them from best to worst
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The Points Guy
- Chase's Ultimate Rewards program is one of the most lucrative and easy-to-redeem points systems.
- You can earn Ultimate Rewards through a number of different Chase credit cards, including the popular Chase Sapphire Preferred Card, Chase Sapphire Reserve, and Ink Business Preferred Credit Card.
- I've owned all three of these credit cards. The Chase Ink Business Preferred has earned me the most rewards, followed by the Chase Sapphire Reserve, and finally, the Chase Sapphire Preferred.
- Strategically pairing up Chase credit cards is the way you want to go if you want to maximize your Ultimate Rewards earnings.
Whether you're new to travel rewards or an avid points-collector, Chase's Ultimate Rewards program offers valuable points that are quick to earn and a breeze to redeem and transfer. Getting the right Ultimate Rewards-earning credit card (or two) will help you travel more for less this year.
What are Chase Ultimate Rewards?
Ultimate Rewards is Chase's ultra-flexible, high-value travel rewards program. If you have a Chase credit card that earns Ultimate Rewards points, you can use them to make travel purchases through the Ultimate Rewards portal.
This portal allows you to redeem your points for flights, hotel stays, rental cars, tours, cruises, and more. You can even book once-in-a-lifetime experiences using your Ultimate Rewards points. Each point has a flat-rate value of 1¢ each, but holding any of the three cards below will bump each point's value up to 1.25¢ to 1.5¢ for travel purchases.
However, arguably the best feature of Chase's Ultimate Rewards program is that your points can be transferred to a list of partner airline and hotel loyalty programs at a 1:1 ratio. This can squeeze upwards of 4¢ out of each point if you're lucky enough to spot a high-value redemption opportunity.
Airline transfer partners include Aer Lingus, British Airways, Air France KLM, Iberia Plus, JetBlue, Singapore Airlines, Southwest, United, and Virgin Atlantic. You can also transfer your points to hotel partners, which include IHG, Marriott, Ritz-Carlton, and Hyatt.
Altogether, this makes Chase's Ultimate Rewards one of the most beloved programs in the credit card rewards game. I've been able to use my points to book travel experiences I never could have afforded otherwise, including stays in the Park Hyatt New York, a five-star hotel near Central Park that goes for $1,000/night, and the Andaz Peninsula Papagayo, a resort on Costa Rica's Pacific coast that goes for $600/night.
I've accumulated over 250,000 Ultimate Rewards points by opening all of Chase's main Ultimate Rewards-earning credit cards, which is worth at least $3,750 in travel expenses. Here's how I would rank all three cards.
Least favorite: Chase Sapphire Preferred
- 50,000 Ultimate Rewards points if you spend $4,000 in the first three months
- Earn 2 points per $1 spent on travel and dining
- 25% bonus on travel redemptions made through the Ultimate Rewards portal
- $95 annual fee, waived the first year
Don't get me wrong, the Chase Sapphire Preferred is an excellent rewards credit card. If the Chase Sapphire Preferred is the worst of Chase's main Ultimate Rewards credit cards, that only speaks to the quality of Chase's Ultimate Rewards program.
You'll get a generous sign-up bonus that's worth at least $625 in travel if you can hit the minimum spend requirements. This is probably the best feature of the card, although getting 2 points for every $1 you spend on eating out or traveling and a 25% bonus on travel redemptions are also lucrative perks for frequent travelers.
The low annual fee is also waived the first year, so trying it out costs you nothing. But ultimately, the sign-up bonus is this card's most exciting feature. I held onto this credit card for a year before realizing I could get a lot more value by upgrading to the Chase Sapphire Reserve.
Runner-up: Chase Sapphire Reserve
- 50,000 Ultimate Rewards points if you spend $4,000 in the first three months
- Earn 3 points per $1 spent on travel and dining
- 50% bonus on travel redemptions made through the Ultimate Rewards portal
- $300 annual travel credit
- Global Entry or TSA PreCheck fee credit
- Complimentary airport lounge access
- $450 annual fee
The list of premium perks and lucrative credits on the Chase Sapphire Reserve makes this one of the most valuable credit cards on the market, so don't let the annual fee scare you away.
The easy-to-use $300 annual travel credit alone knocks the annual fee down to $150, which is very easy to make up for with the rest of the card's benefits. The sign-up bonus is the same as the one offered by the Chase Sapphire Preferred, but the 50% redemption bonus makes it worth $750 instead of $625. Add the extra points you'll earn on travel and dining and the free Global Entry or TSA PreCheck application, and the card has paid for itself.
My favorite Chase Sapphire Reserve feature, though, is easily the free Priority Pass Select membership, which will get you free access to over 1,000 airport lounges worldwide. This pass will make you actually want to book flights with long layovers just so you can take advantages of fancy lounges with free booze and hors d'oeuvres. Priority Pass has even added a number of airport restaurants to its program where you'll get a $28 dining credit each visit, which has saved me hundreds on airport dining.
Favorite: Chase Ink Business Preferred
- 80,000 Ultimate Rewards points after you spend $5,000 in the first three months
- Earn 3 points per $1 on the first $150,000 spent each year on travel, shipping purchases, internet, cable and phone services, and select advertising purchases
- Unlimited 1 point per $1 spent on all other purchases
- 25% bonus on travel redemptions made through the Ultimate Rewards portal
- $95 annual fee
Given that the Sapphire cards tend to get the most attention, this might be Chase's most underrated credit card.
There are a lot of reasons to love the Chase Ink Business Preferred, not least of which is the fact that it offers the most valuable sign-up bonus of any Chase credit card. In fact, I signed up during a limited-time promotion and earned 120,000 Ultimate Rewards points from the sign-up bonus alone - worth at least $1,500 in travel.
You'll also earn 3 points per $1 spent on travel, just like the Chase Sapphire Reserve. However, instead of earning 3 points per $1 on dining as well, you'll earn a bonus on purchases like shipping, utilities, and advertising. This can be a huge bonus for the self-employed and small business owners who have a lot of business-related expenses.
You won't get the luxury perks and travel credits associated with the Chase Sapphire Reserve, and you'll only get a 25% bonus on travel booked through Chase's portal rather than 50%. In exchange, though, you'll only have to pay a low annual fee of $95.
This is a business credit card, which means you have to have a valid business in order to apply. That doesn't mean you need to be operating a brick-and-mortar with 12 employees or even have a registered business, though. A valid business can be anything from the freelance work you do to side gigs like coaching and tutoring to selling items on Etsy and eBay.
One major perk of applying for a business rewards credit card is that the application and credit card activity won't show up on your credit report. Instead, it will appear on a separate business credit report, which in turn will help you build your business credit score.
Pairing up Chase credit cards for maximum rewards
It's wise to try out one of Chase's Ultimate Rewards credit cards to make sure you enjoy the program before going all in. If, like me, you get a lot of value out of Ultimate Rewards points, the best way to earn a lot of points quickly is by pairing up multiple Chase credit cards.
I pair the Chase Sapphire Reserve, which I use for travel and dining purchases, with my Chase Ink Preferred, which I use for business purchases. This allows me to double-dip two of Chase's most lucrative sign-up bonuses and earn 3 points per $1 on a wide range of purchases, all while being able to redeem my Ultimate Rewards points at the 50% bonus rate.
The most popular way to pair up Chase cards, though, is to pair one of the three cards mentioned above with one of their cash-back credit cards - the Chase Freedom or the Chase Freedom Unlimited - which earn bonuses on other spending categories. As long as you hold an Ultimate Rewards-earning credit card, you can convert your cash back to Ultimate Rewards points for increased value.
Finally, if you're saving up points or miles for a hotel chain or airline that happens to be on Chase's list of transfer partners, you can get a hotel or airline credit card as well to boost your points balance. Chase offers co-branded credit cards with Marriott, Hyatt, IHG, United, British Airways, Southwest, and more.
The bottom line
Don't let annual fees or "business" designations scare you away from a rewards credit card. While the Chase Sapphire Preferred is the easiest choice, I've earned far more value from my Chase Ink Business Preferred and my Chase Sapphire Reserve.
Luckily, whether you're looking to travel in style or want a basic rewards credit card, Chase offers a wealth of ways to both earn and redeem Ultimate Rewards points.
Click here to learn more about the Chase Sapphire Preferred from Insider Picks' partner: The Points Guy
Click here to learn more about the Chase Sapphire Reserve from Insider Picks' partner: The Points Guy
Click here to learn more about the Chase Ink Business Preferred from Insider Picks' partner: The Points Guy
Click here to learn more about the Chase Freedom from Insider Picks' partner: The Points Guy
Click here to learn more about the Chase Freedom Unlimited from Insider Picks' partner: The Points Guy
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