40,000 Ultimate Rewards points are worth an average of $404, according to WalletHub data. You get the best value when redeeming Ultimate Rewards points for travel booked through Chase, though there are a few other redemption options to choose from.
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In most cases, 50,000 Chase points are worth $500 for travel, cash back, or gift cards. The same 50,000 points can be worth $625 with the Chase Sapphire Preferred® Card or Ink Business Preferred and $750 with the premium Chase Sapphire Reserve®.
While there is no official score required, it is generally known that the Chase Sapphire Preferred® Card requires a good credit score, which means 690 or higher. This is not a hard and fast rule, however, and those with credit scores lower than 690 could possibly get approved.
Earn 100k bonus points after spending $8,000 on purchases in the first 3 months from account opening with the Ink Business Preferred® Credit Card . That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®.
Take an example where your miles are worth $1 for every $100 in the cost of a flight. So 50,000 miles equates to roughly $500 you can use toward travel, hotel and other incentives such as seat upgrades.
The Chase Sapphire Preferred® Card is an excellent companion to other cards in the Chase Ultimate Rewards® family. That's because you can move points to this card from your other cards that earn Chase Ultimate Rewards®, potentially opening up more redemption options.
Book travel through the Chase portal: This is where Ultimate Rewards points are most valuable. You can book hotels, airfare and vacations at 1.5 cents per point with Sapphire Reserve. Sapphire Preferred is 1.25 cents per point. There's additional earn when booking through Chase Ultimate Rewards on select products.