CSP rewards question

[Anonymous]

I have 47,000 points currently.  I'm trying to decide how to redeem them, or if I even should redeem at all right now.  

1) Is there a "more profitable" way (other than cash back) that earns me >1%?  Cash back would be $470 right now.

2) Does Chase ever run a special where rewards can be redeemed at a higher rate, such as holidays?

[Anonymous]

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@Anonymous wrote:

I have 47,000 points currently.  I'm trying to decide how to redeem them, or if I even should redeem at all right now.  

1) Is there a "more profitable" way (other than cash back) that earns me >1%?  Cash back would be $470 right now.

2) Does Chase ever run a special where rewards can be redeemed at a higher rate, such as holidays?

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You can redeem it for travel using the UR portal for 1.25*$470.   Or, if you have frequent flier or hotel programs that are partners, you can transfer the points to that program, where they potentially can be worth much more.

But if you don't and don't plan to travel....

[enharu]

Like longtimelurker said, you will need to transfer the UR points to partners such as United and Hyatt to maximize the value of them.

Hyatt has quite a number of properties in Asia and Europe that can redeemed at really attractive rates. If the timing and location is in your favor, you could even milk more than 4ccp for each UR point. In most cases, they're around 3ccp per UR point. However, if you don't travel, then it's really just worth 1ccp, which is equivalent to 1%.

Chase run some specials sometimes where you can redeem for certain trips / meals at a "discounted" rate. Thus far the discounts haven't really been that compelling, from what I've seen.

Generally, if you do not plan to travel at all, the CSP isn't really the right card for you.