Update: Some offers mentioned below are no longer available. View the current offers here.Aside from SPG’s Starpoints, which will soon be subjected to a 1:3 stock-style split, Chase’s Ultimate Rewards points are the most valuable transferrable currency — pegged at 2.1 cents apiece in TPG’s most recent valuations.As a reminder, Ultimate Rewards points are earned by default with the following cards:Chase Sapphire ReserveChase Sapphire Preferred CardChase Ink Business Preferred Credit CardAnd, if you have one of the cards above, you can also earn UR points via transfers from the following:Chase Freedom (No longer open to new applicants)Chase Freedom UnlimitedChase Ink Business Cash Credit CardThe information for the Chase Freedom has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.Naturally, it’s not unusual for TPG readers to have a healthy balance of Ultimate Rewards points — in some cases, in the high six or seven figures. So when another opportunity to burn points at a reasonable rate comes along, we’re understandably pretty excited. And that brings me to…Sign up for our daily newsletterEmail addressSign upI would like to subscribe to The Points Guy newsletters and special email promotions. The Points Guy will not share or sell your email. See privacy policy.Expanded Ultimate Rewards RedemptionsMoments ago, I received an email from Chase — many of you got it too, I’m sure. We’re still waiting on clarification on a few points, but given the implications of a broad Ultimate Rewards expansion, I wanted to pass it along right away.Chase already offers some event redemptions, but points are valued at juts 1 cent each.In addition to a rehash of a previously covered devaluation, in which you’ll no longer earn points on charges that are eligible for the $300 annual travel credit, Chase’s email promises the following:Premier event access to tickets and seating: Purchase tickets to sporting events, concerts and other events before they go on sale to the general publicSpecial gift card offers: Redeem your points on a selection of over 150 gift cards, with special discounts at select retailersNew air and hotel packages: Use your Chase Sapphire Reserve card or points to book with an expanded list of hotels and a new offering of vacation rental propertiesNew last-minute and seasonal deals on hotels: Receive information on discounts to hotels for seasonal and last-minute ratesMore flight options: Choose from a wider selection of flights and fares with the option to split tickets for added flexibilityA wider selection of travel partners: Transfer your rewards points to your choice of 13 leading airline and hotel loyalty programs at full 1:1 valueAll of the above are “coming soon” — the issuer hasn’t committed to a date just yet, but I wouldn’t be surprised if we see them quietly rolled out in stages.With 1-cent point redemptions, Chase’s existing experiences are a better deal if you’re paying cash.Are these worthwhile additions?Traditionally, my most common redemption has been transfers to travel partners — United and Hyatt in particular — so that last bullet is most exciting to me. Chase already offers 13 partners, but with Marriott and Ritz-Carlton merging soon, perhaps the issuer plans to add another partner to keep that number at 13. Though even more transfer options would certainly be welcome…The last-minute deals on hotels, new vacation packages and additional flight options could give Ultimate Rewards a welcome boost, too. Finally, while I don’t see myself ever using points for event tickets or gift cards — unless the redemption rate matches the 1.5 cents I get on travel booked through Chase’s site thanks to my Chase Sapphire Reserve — I’m sure that option appeals to folks currently swimming in Ultimate Rewards.
