How much are Chase Ultimate Rewards points worth?
About 2.00¢ each — so a balance of 10,000 is worth roughly $200 when it is spent well.
That figure is the median of 5 published valuations, published 2026-09. It ranks number 2 of 16 currencies in the catalogue — all of them, side by side.
The short version
- Worth: 2.00¢ a point, spent the way the valuation assumes.
- Floor: 1.00¢ a point taken as cash or a statement credit — what you get without planning anything.
- Kind: Points — bank points you can move to airlines and hotels, which is where the higher figures in this family come from.
Why this number and not another
A point has no fixed price. What it is worth depends on what it is spent on, and a valuation is an outlet's estimate of what a typical member gets when they redeem sensibly — not the best redemption anybody ever found, and not the worst. Outlets disagree, so Cardful takes the middle of their figures for every currency, so that a points card and a cash-back card can be ranked in the same unit; why the figures differ so much from one program to the next is its own page.
Each outlet's own figure, read 2026-09:
| Outlet | Per point |
|---|---|
| The Points Guy | 2.05¢ |
| Upgraded Points | 2.00¢ |
| NerdWallet Sapphire Preferred and Ink Preferred row; Sapphire Reserve holders are valued at 1.8 | 1.40¢ |
| Frequent Miler | 1.50¢ |
| AwardWallet | 2.07¢ |
If you redeem differently — only for cash, say — your own figure is the one that matters, and the extension lets you set it. Every ranking it shows you is then priced on yours.
These are transferable points, which is most of why the figure is as high as it is.
Cards that earn Chase Ultimate Rewards points
| Card | Annual fee | Top rateThe best rate this card pays in this currency, on the category in the next column. | On |
|---|---|---|---|
| Chase Freedom | none | 1x | everything |
| Chase Freedom Flex | none | 3x | Restaurants & Bars, Food Delivery |
| Chase Freedom Rise | none | 1.5x | everything |
| Chase Freedom Unlimited | none | 3x | Restaurants & Bars, Food Delivery |
| Chase Ink Business Cash | none | 5x | Office & Shipping, Phone & Internet |
| Chase Ink Business Unlimited | none | 1.5x | everything |
| Chase Ink Business Preferred | $95 | 3x | Flights, Hotels, Vacation Rentals |
| Chase Sapphire Preferred | $95 | 3x | Restaurants & Bars, Food Delivery |
| Chase Sapphire Reserve | $795 | 4x | Flights, Hotels, Vacation Rentals |
| Chase Sapphire Reserve for Business | $795 | 4x | Flights, Hotels |
The best card for earning them, by kind of spending
- dining out: Sapphire Preferred — $6.00 per $100
- gas: Sapphire Preferred — $6.00 per $100
- flights: Sapphire Reserve — $8.00 per $100
- hotels: Sapphire Reserve — $8.00 per $100
- streaming services: Sapphire Preferred — $6.00 per $100
- food delivery: Sapphire Preferred — $6.00 per $100
- Uber and Lyft: Ink Business Preferred — $6.00 per $100
- public transit: Ink Business Preferred — $6.00 per $100
- EV charging: Sapphire Preferred — $6.00 per $100
- parking and tolls: Ink Business Preferred — $6.00 per $100
We track The Points Guy, Upgraded Points, NerdWallet, Frequent Miler and AwardWallet when refreshing these figures. How every number on this site is worked out.