Evaluate Chase rewards before changing card options

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Evaluate Chase rewards before changing card options

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Madison Blancaflor Managing editor | The Points Guy

By Sky Industry News

Apr 4, 2025

The Chase Sapphire Preferred Card is currently offering a limited-time bonus of 100,000 Chase Ultimate Rewards points for new cardholders who spend $5,000 in the first three months from opening their account. This card, along with the Chase Sapphire Reserve and the Ink Business Preferred Credit Card, are known for earning valuable Chase Ultimate Rewards points, which can be transferred to a range of hotel and airline partners.

Ultimate Rewards points are noted for their flexibility, allowing transfers to partners like World of Hyatt or Air Canada's Aeroplan. However, those considering downgrading their Chase credit card should proceed with caution. The ability to transfer Ultimate Rewards points to travel partners is only available with an active Sapphire card or an Ink Business Preferred Card.

A potential downgrade to a no-annual-fee Chase card, such as the Chase Freedom Unlimited or Chase Freedom Flex, would mean maintaining an active Ultimate Rewards account but losing the ability to transfer points to travel partners. Instead, points could be redeemed for cash back or discounted travel.

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To maintain access to transfer partners, individuals should transfer their Chase points to their chosen loyalty programs before downgrading. Transfers, however, are final. Alternatively, points can be redeemed for travel at increased rates with certain cards, but utilizing transfer partners often results in a better redemption value. Chase points are valued at approximately 2.05 cents per point in The Points Guy's April 2025 valuations.

For those re-thinking their credit card options due to a possible downgrade, the Chase Sapphire Preferred Card's ongoing promotion provides an opportunity. Ensuring maximum value from Ultimate Rewards points is crucial, especially if one frequently uses specific loyalty programs. Without an active Sapphire or Ink Business card, transferring points becomes impossible until another Sapphire or Ink Business card is approved.