How much are Chase Travel points worth?

Chase Ultimate Rewards® points don’t have a fixed value — it depends on how you redeem them. Here’s the breakdown without a table format:

• Cash back or statement credit → Each point is worth 1 cent.

• Travel booked through Chase Travel portal →

  • With Sapphire Reserve, points are worth 1.5 cents each.

  • With Sapphire Preferred, points are worth 1.25 cents each.

  • With most other cards, points are worth 1 cent each.

• Gift cards, Amazon, or PayPal redemptions → Generally about 1 cent per point.

• Transfer to airline or hotel partners → Points transfer at a 1:1 ratio. The actual value depends on how you use them — often 1.5 to 2+ cents per point if redeemed for premium flights or luxury hotel stays.

👉 Example: 10,000 points could equal $100 in cash back, $125 in travel with Sapphire Preferred, $150 in travel with Sapphire Reserve, or potentially $200+ in value