Chase Points: 1 Cent as Cash, 1.8 Cents Transferred

Key Takeaways

• Chase Ultimate Rewards has the narrowest gap of the flexible programs: 1.0 cent as cash, 1.25 cents through Chase Travel, 1.8 cents on a partner transfer.
• The 1.8-cent figure exists mostly because of World of Hyatt, where a Category 1-4 room routinely prices above 2 cents per point against its own cash rate.
• A 100,000-point Ink Business Preferred bonus is about $1,000 cashed out, $1,250 through the portal, or roughly $1,800 transferred.
• Ink Cash and Ink Unlimited points only reach the transfer partners if you also hold Ink Business Preferred — on their own they are cash-back cards.

Chase is the least punishing of the flexible programs. Cash out Ultimate Rewards and you still get a full cent, which is more than Amex or Capital One pay for the same exit. That mercy has a side effect: it makes the cash-out button feel harmless, and it quietly costs you 80% more value than a transfer would return.

Our full breakdown lives at Chase Ultimate Rewards value, alongside every other currency on the valuations page.

Three exits, one balance

Take the 100,000-point welcome offer currently advertised on the Chase Ink Business Preferred, earned after $8,000 of spend in the first three months:

• Cash back at 1.0¢: $1,000. No planning, no travel required.
• Chase Travel portal at 1.25¢: $1,250. Fixed, instant, no award searching.
• Partner transfer at 1.8¢: about $1,800. Requires finding award space first.

The portal is the interesting middle option here. It pays 25% more than cash for roughly the same effort, which makes it the sensible floor for anyone who travels at all but will not study award charts.

Why 1.8 cents and not more

Airline partners carry part of it, but Hyatt carries most of it. Hyatt still publishes an award chart, which means the price does not float with the cash rate. Work an example:

• A Category 3 Hyatt at the standard rate: 12,000 points per night
• The cash rate that same week: about $280 per night
• $280 ÷ 12,000 = 2.3 cents per point

Four nights at that property is 48,000 points against roughly $1,120 of cash. Do that twice a year on trips you were taking anyway and the arithmetic on a $95 annual fee stops being a debate. The World of Hyatt Business Card earns the same currency directly, but most owners reach Hyatt by transferring from Ink.

The ceiling goes higher — Aeroplan and Flying Blue business class can clear 3 cents — but we set the target at what a normal booking returns, not at what a lucky week returns.

The pairing rule nobody mentions on the application page

This is where businesses leave value behind without ever redeeming badly:

• Ink Business Cash earns 5% on office supplies and phone, internet and cable, up to an annual cap.
• Ink Business Unlimited earns a flat 1.5% on everything.
• On their own, both redeem at one cent. They are cash-back cards wearing points clothing.
• Held alongside Ink Business Preferred, their points move into the same Ultimate Rewards account and inherit transfer access.

That pairing turns 1.5% on all spend into roughly 2.7 cents of travel value per dollar. The no-fee card does the earning; the fee card does the redeeming. If you carry Ink Cash or Ink Unlimited without a Preferred in the household, you are earning a transferable currency and spending it like cash.

Do this before you redeem anything

1. Price the trip in cash and in points on the partner's own site.
2. Divide the cash price by the points price and multiply by 100.
3. Above 1.8 cents, transfer. Between 1.25 and 1.8, the portal is usually the better risk-adjusted answer. Below 1.25, take the cash.
4. Transfer only the points the booking needs, and book the same day. Transfers are one way.

That is the whole method. It works on every program, and it means you never have to trust a valuation table — including ours.

Want to see which Chase card fits your spending, or whether a flat cash-back card would serve you better? Compare business cards by where your money goes, and check the full valuation table first.

Frequently asked questions

How much is a Chase Ultimate Rewards point worth? MyBizNerd values it at 1.8 cents on a routine partner transfer, 1.25 cents through Chase Travel, and 1.0 cent as cash back. Hyatt and Aeroplan awards can reach 3 cents when space is available.

Can I transfer points from Ink Business Cash? Not by itself. Ink Cash and Ink Unlimited points redeem at one cent unless you also hold a card with transfer access, such as Ink Business Preferred, in which case the points can be combined and transferred.

Is the Chase Travel portal a bad deal? No. At 1.25 cents it pays 25% more than cash for no extra work and no transfer risk. It is the right answer for owners who travel but will not search award space.

Rewards depend on the card, your spending and your eligibility. Our valuations are estimates, reviewed quarterly, not quotes — confirm current award pricing with the program before you transfer.