Start here: Chase Ultimate Rewards — cards, earning, using and moving points

Step 1: What Chase Ultimate Rewards is and who it suits

You will learn: what the programme is, what governs it, and whether this course is aimed at you.

Chase describes Ultimate Rewards as a flexible rewards programme that lets eligible cardmembers earn points on everyday purchases, which can be redeemed for travel, cash back, gift cards and more [3]. Chase offers several credit cards that earn Ultimate Rewards points, each with its own earning rates and benefits [3]. Both card agreements open by saying what they are: the document describes how the Ultimate Rewards program works and is an agreement between the cardholder and Chase [1] [2].

In both agreements "Chase" means JPMorgan Chase Bank, N.A., Member FDIC and its affiliates, and "account" means the credit card account linked to the programme [1] [2]. Both state that use of the account or any feature of the programme indicates acceptance of the terms, that the agreement is governed by federal law as well as the law of Delaware and applies no matter where the cardholder lives or uses the programme, and that the programme is void where prohibited by federal, state or local law [1] [2].

The course is aimed at a cardholder of an eligible Chase credit card in the United States: the programme is attached to the card account [1] [2], and Chase addresses its explainer to eligible cardmembers [3].

Go deeper: Amex Membership Rewards vs Chase Ultimate Rewards, US transferable points systems compared, Start here: cards and transfers.

Step 2: How you join

You will learn: how the programme attaches to a Chase card and who can spend on the account.

Both agreements define the programme through the credit card account linked to it, and neither describes a separate enrolment step: each states that the programme is linked to the account, and that use of the account or any feature of the programme indicates acceptance of that agreement [1] [2]. Chase's explainer lists the Sapphire Reserve, Sapphire Preferred, Freedom Unlimited and Freedom Flex among the Chase cards that earn Ultimate Rewards points [3]. Under both agreements, purchases made with a card by the cardholder or an authorized user of the account earn points [1] [2]. Both agreements also state that the version in force takes the place of any earlier versions, and that Chase posts an updated copy when you log in at chase.com/ultimaterewards [1] [2].

Go deeper: First card application plan, Chase Sapphire Reserve, Chase Freedom Unlimited, Authorized user.

Step 3: How earning works

You will learn: what earns on each of the two cards, at what rate, and what never earns.

Under both agreements, points are earned on purchases of products and services, minus returns or refunds, made with a card by the cardholder or an authorized user; balance transfers, cash advances, cash-like transactions, checks that access the account, interest, unauthorized or fraudulent charges and fees of any kind do not count as purchases and earn nothing [1] [2]. Rewards categories follow merchant codes, and a merchant that appears to fit a category may not carry a qualifying code [1] [2].

The Sapphire Reserve agreement sets 8 points for each $1 spent through Chase Travel, 4 points for each $1 on flights and hotels booked direct, 3 points for each $1 on dining at restaurants including takeout and eligible delivery services, and 1 point for each $1 on all other purchases; purchases that qualify for the $300 Annual Travel Credit or the $500 Credit for stays with The Edit do not earn points [1]. The same agreement attaches conditions to the Chase Travel rate: travel purchases made through FROSCH do not earn 8 points for each $1, and if only a portion of a Chase Travel purchase is paid with the card and the rest with points, only the portion paid with the card earns points [1].

The Freedom Unlimited agreement tracks rewards as Cash Back rewards, where each $1 in Cash Back equals 100 points [2]. It sets 1.5% Cash Back rewards for each $1 spent, equal to 1.5 points; 3% Cash Back rewards total for each $1 on drugstores and dining at restaurants including takeout and eligible delivery services; and 5% Cash Back rewards total for each $1 on purchases made through Chase Travel [2]. Travel purchases made through FROSCH do not earn the 5% rate, and only the portion of a Chase Travel purchase paid with the card earns Cash Back rewards [2].

Go deeper: Chase Sapphire Reserve, Chase Freedom Unlimited, Issuer travel portals compared.

Step 4: How to use and move points

You will learn: what points can be redeemed for, how they move between Chase cards, and which of the two cards can send them to travel programmes.

Both agreements state that points can be redeemed for any available reward option, which may include cash, gift cards, travel, and pay with points for products or services from third parties, and that redemption values for reward options vary [1] [2]. The Sapphire Reserve agreement lists transfer of points to participating frequent travel programs among the options [1]; the Freedom Unlimited agreement's list of options does not include it [2].

Both agreements state that points can be moved, but only to another Chase card with Ultimate Rewards belonging to the cardholder or one member of their household, and that points cannot be moved to another eligible card if either account is prohibited from earning or using points at the time [1] [2].

The Sapphire Reserve agreement adds transfers to frequent travel programs: points move in 1,000-point increments, and only to participating frequent travel program accounts belonging to the cardholder or one additional household member listed on the account as an authorized user [1]. A point transfer fee may be charged and the amount is disclosed before the transfer; most requests process by the next business day but may take up to 7 business days, and the details given must match the travel programme's records [1]. Transferred points become subject to that programme's terms, cannot be refunded, and the transaction cannot be cancelled; participating programmes can change without notice [1]. Chase's explainer describes transferring points to an airline or hotel partner as available on select Chase credit cards [3].

Go deeper: Redeeming Chase Ultimate Rewards, Chase Ultimate Rewards transfer partners and ratios, Chase Ultimate Rewards pooling rules, Transfer ratio calculator.

Step 5: Status — what Ultimate Rewards does and does not give you

You will learn: what status the programme does and does not provide, and which account rules protect the balance.

Neither agreement sets out member tiers or status levels for Ultimate Rewards [1] [2]. The Sapphire Reserve agreement states that transferred points become subject to the terms and conditions of the frequent travel program, and that Chase is not responsible for the rules governing or the use of that programme [1], so any airline or hotel status is a matter for that programme's own terms.

On standing, both agreements state that points do not expire as long as the account is open, that all points are lost immediately if the account status changes or the account is closed for misuse, fraud, or because the cardholder fails to comply with other Chase agreements, Chase believes they may be unwilling or unable to pay debts on time, including bankruptcy, or Chase believes they have engaged in fraudulent activity; lost points are not reinstated unless Chase made an error [1] [2]. Both state that if the account is closed for any other reason, the cardholder has at least 30 days from the closure date to use the points, provided they are not lost for one of the listed reasons; points still unused after that are lost unless limited or prohibited by law, in which case they are automatically redeemed for cash as an account statement credit [1] [2]. Suspected misuse or fraud may also bring a temporary prohibition on earning or using points, lifted in the next billing cycle after a payment that brings the account current, or when Chase no longer suspects it [1] [2].

Go deeper: Hotel elite status via credit cards, Transferable points when closing a card.

Step 6: Your first concrete action

You will learn: the short checklist that puts this course to work on your own account.

1. Identify which Chase card you hold and read that card's Ultimate Rewards program agreement, because the two cards in this course each have their own: the Sapphire Reserve agreement [1] or the Freedom Unlimited agreement [2].
2. Log in at chase.com/ultimaterewards to see what your points can currently get; both agreements direct cardholders there to see current options [1] [2].
3. Before moving points between cards, check that the receiving card is a Chase card with Ultimate Rewards belonging to you or one member of your household [1] [2].
4. If your card allows transfers to frequent travel programmes — the Sapphire Reserve agreement does [1] — make sure your name and details match the travel programme account first, because transfers cannot be refunded or cancelled [1].
5. Before closing a card, use or move the points: after closure for reasons other than those on the agreements' loss list (misuse, fraud, failure to comply with other Chase agreements, or Chase believing you may be unwilling or unable to pay your debts), at least 30 days remain [1] [2].

Next: return to the Chase Ultimate Rewards programme hub for the pages grouped by task, keep the official entry page chase.com/ultimaterewards to hand, and read the agreement for your own card — Sapphire Reserve (RPA0550) or Freedom Unlimited (RPA0509).