Chase Ultimate Rewards “Invest Your Points” Feature
Chase today announced an expansion of the Ultimate Rewards program with “Invest Your Points,” giving eligible cardmembers a new way to redeem points for cash to invest in an eligible J.P. Morgan Wealth Management account. Customers can now redeem their points for cash to invest in an eligible J.P. Morgan Self-Directed Investing account or work with a J.P. Morgan advisor to invest in a taxable investment account.
“Cardmembers already have a lot of ways to use Ultimate Rewards, from travel to cash back, and every new option makes the program even more valuable,” said Chris Reagan, President of Branded Cards at Chase. “Now, they can also put their rewards toward investing and their financial goals, in one connected digital experience.”
Once points are redeemed for cash, customers can choose how to invest based on their own goals and risk tolerance. For customers with a J.P. Morgan Self-Directed Investing account, the ‘Invest Your Points’ experience is available through the Chase Mobile® app and Chase.com.
Before you get too excited about this new feature, you should know that the redemption rate is 1 cent per point. That means that you can redeem 100,000 Ultimate Rewards for $1,000. That’s not a great redemption value as Chase Ultimate Rewards are normally valued around 1.5 cents each on average.
But if you’re interested in using this feature, then you need to have an Ultimate Rewards points-earning card. That includes the Chase Freedom, Chase Ink and Chase Sapphire card portfolios. Additional ways to redeem Ultimate Rewards points include travel, cash back, statement credits, gift cards and more, depending on the card.
