So the 80,000 bonus points are worth $1,000 in travel booked through Chase and it's easy to use your points this way. You just log in to the Chase travel portal and search for flights, hotels, rental cars, cruises or activities. At checkout, you can pay with points, cash or a combination of the two.

80,000 Chase Ultimate Rewards points are highly versatile and their value depends entirely on how you redeem them. If you have the Chase Sapphire Preferred, these points are worth $1,000 when redeemed for travel through the Chase Travel portal (at a 1.25 cent-per-point rate). If you hold the Chase Sapphire Reserve, that same 80,000 points is worth $1,200 (at a 1.5 cent-per-point rate). However, the "sweet spot" for many is transferring these points 1:1 to travel partners like World of Hyatt, United Airlines, or British Airways. For instance, 80,000 points could easily cover three nights at a high-end Category 7 Hyatt hotel that might otherwise cost $1,800, or a round-trip economy flight to Europe. If you choose the least efficient method—cash back or statement credits—80,000 points is worth exactly $800, which is generally considered a poor use of such a valuable points currency.