Many credit card rewards programs lock you into one airline or hotel chain.
Chase Ultimate Rewards points are different.
You can:
- Redeem them for cash back
- Book travel through Chase Travel
- Transfer them to airline partners
- Transfer them to hotel partners
The transfer partners are where the real magic happens. Chase points are typically worth 1 cent each when redeemed for cash back, but strategic transfers can often produce 2 cents per point or more in value.