@kshurika wrote:Hello everybody:
For reasons I can't even explain, I've been off the forums for well over a year. Now I have a question: Is there anywhere a definitive guide explaining how best to use Chase Ultimate Rewards points? I see tips, secrets and opinions scattered all over the place and all they do is confuse my poor, meager little brain. Has anyone created the definitive Ultimate Rewards guide, yet?
I googled "Chase Ultimate Rewards guide" and came up with this.
The best way to use UR points varies, a lot! First of all, which Chase card(s) you have makes a huge difference. For the sake of this post, I'm going to assume that you have a CSR (Chase Sapphire Reserve) or CSP (Chase Sapphire Preferred). If you have one of the Freedom cards, your options are much more limited. For starters, UR points can always be redeemed as cash at 1 cpp (cents per point).
As a general rule of thumb, you should consider transferring the points to travel partners (airlines, hotels) if you are a premium traveler. This means that you fly in business or first class and stay in high end hotels.
If you are an economy traveler or don't travel, there are ways to get better value out of UR points. One is to purchase travel through the Chase Travel Portal. You buy plane tickets, hotels, or rental cars and pay for them with UR points. They are redeemed at 1.5x value (CSR) or 1.25x value (CSP). For example, you can buy a $300 ticket and pay for it with 20,000 UR points (CSR). The cash value of those points are $200.
Pay Yourself Back has been a big thing the last while. Purchases in certain categories have been payable by UR points at the same value as travel purchases. For example, for the last few months, grocery and dining purchases were payable with UR points via PYB on the CSR. I could take a $30 restaurant bill and pay for it with 2,000 UR points ($20 cash value).
In a nutshell, there is no universal "best way" to use UR points. It is highly dependent on which cards you have, how many points you have, your normal purchases, and your lifestyle.
