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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.
